Over $2.23 billion in liquidations occurred in the crypto market in the past 24 hours.
Trump’s announcement of new tariffs sparked a sell-off in risk assets, affecting cryptocurrencies.
Bitcoin dropped 6.5%, reaching $94,120, with the Crypto Fear and Greed Index signaling fear at 44.
he crypto market experienced a bloodbath in the past 24 hours, with liquidations surpassing $2.23 billion across long and short positions. This market turbulence followed an announcement by US President regarding new tariffs on imported goods, which triggered a broad sell-off in risk assets.
from CoinGlass revealed that 730,836 traders were liquidated, with long positions bearing the brunt, accounting for approximately $1.88 billion of the total liquidations. Short liquidations stood at $358 million. The largest single liquidation order was on , where an ETH/BTC trade worth $25.64 million was forcibly closed.
Liquidations occur when traders’ positions are closed by exchanges due to major losses or insufficient collateral. This wave of forced closures underscores heightened market volatility amid geopolitical concerns.
Bitcoin Faces Bearish Indicators
Bitcoin plummeted by 6.5% over the last day, hitting a low of $92,500 before slightly recovering to trade at $94,120. The largest cryptocurrency’s market capitalization now stands at $1.86 trillion, reflecting a 6% decline.
The Relative Strength Index (RSI) on the 4-hour BT
Source: TradingView
On the other hand, resistance is visible at $96,000, with a critical level near $98,500 that must be cleared for any meaningful .
The Broader Crypto Market Panic
Ether , the second-largest cryptocurrency by market cap, took a worse hit than Bitcoin. ETH nosedived 20% to $2,520 at the time of writing, losing its critical $2,750 support. Meanwhile, the broader cryptocurrency market saw its global capitalization shrink by 10% to $3.07 trillion.
The Crypto Fear and Greed Index to 44, indicating fear, a s