Overview

• Bitcoin hovered near $115,000 and Ether around $4,100, with majors like Solana and Dogecoin advancing after the weekend sell-off.
• The plunge followed President Trump’s 100% China tariff threat during thin liquidity, then eased after a softer tone from Washington and Beijing.
• Binance acknowledged platform distortions, including a USDe depeg confined to its exchange, moved to oracle-based collateral pricing, and reimbursed users about $280–$283 million.
• Analysts are split between calling the event a leverage-driven reset and alleging exploitation of exchange pricing that amplified forced liquidations.
• Institutional and treasury buyers were reported accumulating on the dip, ETFs and options data point to ongoing volatility, and exchanges are tightening risk controls.