Trump Tariffs Cause $450M Liquidations on Bitcoin, Ripple, Ether
Higher-than-usual market volatility affected bulls and bears alike as crypto futures racked up $450 million in liquidations in the past 24 hours as U.S. tariffs went into play.
President Donald Trump officially levied a 25% tariff on auto imports and a minimum 10% tariff on all exporters to the U.S. Additional duties were imposed on the nation’s biggest trading partners in Asia and the European Union, with China facing a 50% hike on several goods and a 26% fee on some Indian goods.
Turmoil in markets ensued with gains from the past three days wiped out in U.S. indices and cryptocurrencies. Asian markets tumbled early Thursday and U.S. 10-year Treasury yields slumped to the lowest level in more than five months. Gold set yet another…
