A market-wide crypto sell-off triggered $1.06 billion (₱61.8 billion) over 24 hours as Bitcoin slid below $97,400 and memecoins cratered amid fears of escalating U.S. trade wars.
Quick Take delivers key facts fast—concise, clear, and easy to read. Perfect for busy readers.
Key Takeaways:
- $1.06B in positions liquidated — 87% were bullish bets (longs).
- Bitcoin dropped 3.3% to 97,438; Ether fell to 10% to $2,861
- Memecoins like TRUMP (-7% daily) and PEPE (-14%) led losses, with Solana-based tokens hit hardest.
By the Numbers:
- Liquidations breakdown (24h):
- Longs: $922.87M (87% of total).
- Shorts: $141.70M.
- Largest single trade: A $19.05M Ether liquidation on Binance.
- Top casualties (24h):
- ETH: $204.14M liquidated.
- BTC: $163.02M.
- SOL: $36.56M.
- Exchanges hit hardest (4h):
- Binance: $125.68M (90.6% longs).
- OKX: $53.26M (90.4% longs).
- Bybit: $45.89M (82.9% longs).
How did it come to this: The sell-off accelerated after President Trump announced 25% tariffs on imports from Canada, Mexico, and China, sparking fears of a global trade war.
- Retaliatory measures and a potential WTO lawsuit by China deepened investor anxiety, driving a flight from risk assets, news outlet The Block reported.
What’s next: Crypto’s leverage addiction remains a systemic risk. Analysts warns of a retest below $95,000.
This article is published on BitPinas: Quick Take: Crypto Liquidations Top $1B as Bitcoin, Memecoins Retreat Amid Tariff Turmoil
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