Bitcoin Plunges to $82,000 as Global Markets React to Trump’s Tariff Announcement

In the past day, the cryptocurrency market experienced significant volatility, leading to widespread liquidations of both short and long positions.

The cryptocurrency market experienced significant volatility in the past day, leading to widespread liquidations of both short and long positions. This turmoil was primarily triggered by President Donald Trump’s announcement of new tariffs, which injected uncertainty into global markets, including cryptocurrencies.

As reported by CCもお気に入りへ追加, the market experienced substantial liquidations to the tune of $500 million, with $300 million of that total taking place in the last four hours. Initially the short positions were hit, then long ones, almost equally. In just one hour, the market wiped out over $100 million in long positions.

The recent market fluctuations have been largely affected by macroeconomic factors. Notably, anticipation of Liberation day tariffs announced by Trump has led to a high degree of market uncertainty, contributing to price volatility across major cryptocurrencies. Bitcoin, for instance, has seen its price fluctuate between $73,000 and $88,000, and is currently trading around $83,500, down by 0.9%.

This has left X users wondering if it was really a ‘Liberation Day’ or just a ‘Liquidation Day,’ given the massive wave of liquidations that shook the market.

Bitcoin Plitches Lower After Trump Announces Tariffs

Bitcoin price dropped from a high of $88,500 to around $83,400 following the news of new tariffs announced by President Donald Trump. The cryptocurrency market experienced significant volatility in the past day, leading to widespread liquidations of both short and long positions.

The market experienced significant liquidations totaling approximately $500 million, with $300 million occurring within the last four hours. Initially the short positions were hit, then long ones, almost equally. In just one hour, the market wiped out over $100 million in long positions.

$489M Wiped Out as 159K Traders Liquidated

In the past 24 hours, 159,333 traders were liquidated , the total liquidations comes in at $489.07 million. The biggest single liquidation order was $11.97 million in ETHUSDT on Binance. Of the total, $257 million came from long positions and $232.06 million from short positions.

These liquidations have impacted various cryptocurrencies, including Bitcoin, Ethereum, Solana, XRP, and Cardano. Consequently, the overall market capitalization has decreased by $200 billion since its peak during after-hours trading.