Massive $9.4B Crypto Liquidation Driven by U.S. Tariff Announcement

A significant liquidation event of over $9.4 billion occurred within the cryptocurrency market following US tariff announcements targeting China. This action triggered widespread panic and leveraged unwinding across major exchanges like Binance and Coinbase, affecting over 1.6 million trading accounts globally. Bitcoin saw a dramatic price decline from $125,000 to $102,000 in just 24 hours, while Ethereum witnessed a significant drop below the $3,500 mark. The incident echoes past market downturns, highlighting vulnerabilities within the crypto ecosystem and raising concerns about market stability amidst geopolitical tensions.