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4h ago

Trump’s 100% China Tariff Threat Triggers Record $19 Billion Crypto Liquidations

A sudden tariff threat forced highly leveraged bets to unwind across crypto.

Outages hit Binance, Coinbase, and Robinhood as $9.5 billion liquidations hit the market
After cryptocurrencies reaped major gains due to president Donald Trump's policies, threats to ramp up tariffs on China triggered the largest cryptocurrency liquidation in history, per data analysis platform CoinGlass.
ETH crashes as $13 billion liquidation rocks the crypto market
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Overview

  • CoinGlass tallied roughly $19 billion in liquidations over 24 hours and more than 1.6 million traders forced out, with about $16–16.7 billion coming from long positions.
  • Bitcoin plunged from recent highs to intraday lows near $102,000 on some venues before rebounding to roughly $112,000–$113,000, while ether saw double‑digit drops and a partial recovery.
  • Heavy trading coincided with exchange frictions, as Binance users reported frozen or delayed orders and the company cited high activity; CoinGlass noted Binance’s one‑per‑second reporting may understate totals.
  • Stablecoin stress briefly surfaced, with Ethena’s USDe dipping fractionally below $1 before the team said minting and redemptions continued to operate normally.
  • The sell‑off followed President Trump’s posts announcing 100% tariffs and new export controls on critical software, and market participants are now watching counterparty risks and possible spillovers to broader markets.