US$509 million wiped out in crypto derivative markets following Trump’s tariff announcement
3rd April 2025 – (New York) Traders quickly mobilised in a high-stakes effort to reverse the downward trend of Bitcoin, mounting a spirited yet short-lived defence of the $83,000 mark—an important psychological support level. However, the cryptocurrency’s vulnerabilities re-emerged late Wednesday afternoon, shortly after President Trump’s “Liberation Day” remarks, causing Bitcoin to dip back towards its earlier low following a brief rise above $88,000.
The aftermath of Trump’s tariff announcement led to significant losses within the cryptocurrency market, with a staggering $509 million erased in value as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) all experienced sharp…
