Crypto Market Sees Historic $19B Liquidation Amidst Trump Tariff Threat

The crypto market experienced its largest ever liquidation event, resulting in the wiping out of a staggering $19.13 billion in value within a single day. This dramatic drop was triggered by rising global trade tensions, specifically following former U.S. President Donald Trump’s announcement of a 100% tariff on Chinese imports. This move sparked immediate sell-offs across various markets, including cryptocurrencies. Over 1.6 million traders were forced to liquidate their positions as prices plummeted across major exchanges.