Trump’s Tariff Triggers $19 Billion Crypto Liquidation, Market Faces Steep Losses

A recent tariff announcement by former U.S. President Donald Trump on Chinese imports has sent shockwaves through the cryptocurrency markets, resulting in a staggering $19 billion crypto liquidation. This sudden market volatility triggered substantial declines across major digital currencies, including Bitcoin and Ethereum, with some altcoins facing losses exceeding 90%. Arthur Hayes, co-founder of BitMEX, highlighted the amplified effect on these liquidations stemming from auto-liquidation events on centralized exchanges.