Crypto Market Experiences $300 Million in Liquidations Following Trump Tariff Threats
Crypto traders faced significant liquidations as Bitcoin prices fell sharply following Donald Trump's tariff threats. Key points include:
- Over $300 million in leveraged derivatives positions were liquidated across centralized exchanges.
- $107 million of BTC long positions and nearly $87 million from Ethereum's ETH were affected.
- Liquidations for other tokens like Solana's SOL, dogecoin DOGE, and SUI ranged from $10 million to $18 million.
- BTC and major altcoins (Ether ETH, XRP XRP, Cardano ADA) dropped 3% to 4%, while smaller-cap tokens (Uniswap UNI, SUI) decreased by 5% to 7% within 24 hours.
- A notable trader, James Wynn, with a $1.1 billion BTC long bet, is facing $7.5 million in unrealized losses.
- The sell-off was attributed to Trump's proposed tariffs of 50% on EU imports and 25% on iPhones produced abroad, raising trade war concerns.
- Despite recent price hikes, there has been a shift towards short positions in BTC derivatives.
