The euphoria of the last few weeks has abruptly transformed into a debacle for crypto investors.

In just 24 hours, over one billion dollars in positions were liquidated, carrying away the hopes for a prolonged market rebound.

The euphoria of the last few weeks has abruptly transformed into a debacle for crypto investors. In just 24 hours, over one billion dollars in positions were liquidated, carrying away the hopes for a prolonged market rebound. Behind this shock are new waves of economic uncertainties, amplified by the decision of the United States to impose 25 % tariffs on Canada and Mexico. An announcement that triggered a sudden drop in traditional markets, but also a collapse of Bitcoin and the major cryptos.

A market in crisis : the figures of a swift collapse

The last 24 hours have been a true nightmare for crypto derivatives traders. According to CoinGlass data, over one billion dollars in positions were liquidated on futures and derivatives platforms. Among the affected tokens, bitcoin saw nearly 300 million dollars in positions liquidated, while altcoins were not spared: holders of Solana (SOL), XRP, and Cardano (ADA) alone suffered over 150 million dollars in losses.

This shock comes in an already feverish climate. Indeed, on March 4, Donald Trump announced the implementation of new trade taxes, which hastened the fall of the S&P 500, one of the main American stock indices, which plunged nearly 2 % in morning trading. The reaction was swift on the crypto market. After a spectacular surge, investors were caught off guard by this announcement, triggering a cascade of automatic liquidations. Such events remind us how extremely sensitive cryptos are to external shocks.

A turning point for the market : the end of the “Trump effect”?

Beyond a simple technical correction, this episode could mark a real change in trend. Since the U.S. presidential election, Bitcoin and the crypto market in general have enjoyed a bullish momentum, largely attributed to Donald Trump’s promises to support the sector. The price of Bitcoin went from $69,374 in November to a record $108,786 in January, in a climate of optimism bolstered by the prospect of a pro-crypto policy from the new administration.

However, recent events show that macroeconomic dynamics have now taken precedence over the Trump effect. The prospect of a trade war between the United States and its partners has swept away investors’ enthusiasm and reintroduced significant downward pressure on cryptos. This new situation raises a crucial question: can cryptos still be considered safe havens, or have they become dependent on global economic tensions?

The coming days will be crucial to measure the impact of this correction and to see if the market can stabilize. Between regulatory uncertainties, fluctuating economic policies, and a fragile market sentiment, volatility is likely to be present again. One certainty remains: this shock reminds all investors that, in the world of cryptos, nothing is ever guaranteed.