Crypto prices tumbled on Friday after Trump said he would impose an additional 100 per cent tariff on China and export controls on software. The declines precipitated – and then were made worse by – what data tracker Coinglass described as “the largest liquidation event in crypto history”.
While market weakness had already been present coming into Friday, Trump’s post sparked a more than 12 per cent decline in bitcoin. The largest token, which had earlier this week reached an all-time high of more than US$125,000, was hovering below US$113,000 as of Friday night in New York.
Over the past 24 hours, bets worth more than US$19 billion have been wiped out, and more than 1.6 million traders liquidated, according to Coinglass data….
