Trump’s Tariffs Trigger Major Cryptocurrency Drop

President Donald Trump’s recent implementation of new customs tariffs has significantly impacted the cryptocurrency market, causing widespread panic and over $500 million in liquidations within 24 hours. Bitcoin, a key asset in the cryptocurrency ecosystem, saw its value plummet from around $88,500 to $83,400, followed by a sharp decrease in other prominent cryptocurrencies like Ethereum and Solana. This unexpected volatility led to massive losses for investors as traders were caught off guard by the rapid price swings, resulting in over 159,000 positions being liquidated.