Bitcoin’s Correction Amidst US-China Tariff News: $521M Liquidated

Bitcoin experienced a price correction this past Monday, May 12th, as news of US-China tariff reductions triggered market instability. The cryptocurrency fell below the $101,000 mark, despite analysts anticipating a slight pullback following its recent surge. This decline coincided with significant long positions being liquidated, amounting to $521 million. While Bitcoin recovered briefly, Ethereum followed suit, reaching $2,450 and other altcoins like XRP, BNB, and SOL saw bounces in price after encountering support levels.