Crypto market hit the largest liquidation in history, $19 billion liquidated after Trump’s new tariffs shock
The cryptocurrency market experienced a shockwave on Friday following President Donald Trump‘s announcement of a 100% tariff increase on Chinese imports, combined with new export controls on critical software.
According to Coinglass, this geopolitical event triggered the largest crypto liquidation in history, with over $19 billion worth of leveraged positions erased in just 24 hours, affecting around 1.6 million traders.
Bitcoin led the liquidation spree, losing in long positions after sliding over 12% from its recent all-time high above $125,000 to below $113,000 during Friday’s trading session in New York. The leading losses were incurred by Bitcoin at $5.34 billion and Ethereum at $4.39 billion, with Solana contributing $2 billion,…
