Global markets have experienced significant volatility following a threat of increased tariffs between the United States and China. U.S. President Donald Trump announced plans for a substantial tariff increase on imported goods from China, including restrictions on rare earth elements and other critical manufacturing components. This sparked a sell-off across both traditional stock markets and the cryptocurrency market, with major indices like the NASDAQ 100 falling by 2.4% and the S&P 500 by 1.7%. The crypto market experienced a similar decline as Bitcoin (BTC), Ethereum (ETH), and other prominent altcoins like BNB, Solana (SOL), Dogecoin (DOGE), and TRON (TRX) all saw sharp declines in price. Over $896 million worth of long positions were liquidated in the past 24 hours alone, indicating significant market sentiment shifts.