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4h ago

Crypto Suffers Record $19 Billion Liquidation After Trump’s 100% China Tariff Shock

The tariff threat triggered a derivatives cascade, exposing overleverage, reporting gaps and brief stablecoin stress.

Outages hit Binance, Coinbase, and Robinhood as $9.5 billion liquidations hit the market
Crypto
Btc, eth, xrp, sol face slow bottoming process after $16b liquidation shock
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Overview

  • CoinGlass reported roughly $19.1 billion liquidated in 24 hours with more than 1.6 million traders affected, the largest single-day wipeout on record, and about $16.7 billion coming from longs.
  • Bitcoin futures slid to about $102,000 and ether fell near $3,500 at the lows before partial rebounds to roughly $113,000 and $3,800 during Asia hours.
  • Global crypto market capitalization dropped by about $400 billion over 24 hours, according to CoinMarketCap data.
  • CoinGlass cautioned the true total may be higher because some exchanges, notably Binance, report liquidations slowly, and a single $203 million ETH-USDT position was closed on Hyperliquid.
  • Ethena’s USDe briefly printed below $1 at $0.9996, while traditional markets turned risk-off with U.S. equities falling and safe havens firming as traders assessed counterparty and contagion risks.