Over $1.5 Billion in Losses: Trump’s Tariffs Cause Record Crypto Liquidations

The crypto market experienced a dramatic sell-off after President Trump announced tariffs on Chinese goods, with over 1.5 million traders facing liquidation losses exceeding $1.5 billion within 24 hours. Bitcoin and Ethereum led the downturn, as leveraged trading dried up following the significant price drop. The incident is being considered one of the largest liquidations in crypto history. Experts attribute this rapid sell-off to panic-driven leverage unwinding, with some analysts noting a whale profiting $190 million from shorting Bitcoin and Ethereum before the market crash.