$16B in Longs Liquidated Amid Crypto Market and Wall Street Declines

Crypto markets faced significant liquidations during early Asia hours after a global risk-off wave was triggered by U.S. President Donald Trump's threat of 100% tariffs on Chinese imports. This led to a loss of over $16 billion in long positions by midday Hong Kong time.

(Truth Social)

The threat re-ignited trade war fears, causing a macro shock that impacted crypto prices significantly.
Bitcoin briefly fell below $110,000, marking a 10% decline.
Ether dropped to $3,844 as the CoinDesk 20 Index decreased by 12.1%.
Overall, the total crypto market cap fell to $3.87 trillion.
Of the $19.1 billion in liquidations, $16.7 billion were from long positions.
Ethena's USDe stablecoin showed slight peg stress but remained operational and overcollateralized.

The U.S. government shutdown has further complicated matters by delaying key economic data releases, adding to market uncertainty amid renewed trade tensions.