Bitcoin, Ethereum, XRP, Dogecoin Obliterate $1.42 Billion In Liquidations, Plummet Up To 16%
The cryptocurrency market experienced a staggering $1.42 billion in liquidations over the past 24 hours, driven by a sharp decline in major digital assets following President Donald Trump‘s tariff policies and a broader market sell-off.
What Happened: Bitcoin (CRYPTO: BTC) fell 7.5%, currently trading at around $76,650, while Ethereum (CRYPTO: ETH) dropped 17%, XRP (CRYPTO: XRP) 15%, and Solana (CRYPTO: SOL) and Dogecoin (CRYPTO: DOGE) both shed 16%. BNB (CRYPTO: BNB) also lost 8% during the sell-off.
The liquidations, which saw $1.22 billion in long positions and $203.54 million in short positions wiped out, were triggered by a combination of macroeconomic pressures and Trump’s trade policies, according to Coinglass data.
Last week, Trump imposed tariffs on several nations, increasing …
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