Crypto Market Plunges Amid Tariff Fears
Cryptocurrency markets experienced a significant downturn, triggering record liquidations just days after Bitcoin reached an all-time high. The volatility was largely prompted by US President Donald Trump’s latest round of tariffs. Cryptocurrency prices tumbled on Friday after Trump announced an additional 100 per cent tariff on China and export controls on software, exacerbating existing market weakness.
The declines precipitated and were amplified by what data tracker Coinglass described as “the largest liquidation event in crypto history.” While market weakness was already present leading into Friday, Trump’s announcement sparked a decline of more than 12 per cent in Bitcoin. The largest token, which had reached a record…
