Analysis: Trump's tariff threat caused market volatility, 24-hour long positions exceeded $500 million

Odaily News The crypto market experienced sharp fluctuations due to the news that former US President Trump announced that he would impose a 50% tariff on EU imports and a 25% tariff on Apple iPhones. The price of Bitcoin fell rapidly from above $111,000, causing market sentiment to fluctuate.
In the past 24 hours, the total amount of cryptocurrency long positions liquidated exceeded $500 million, in addition to about $182 million in Bitcoin futures and nearly $142 million in Ethereum futures. Analysts believe that this pullback occurred at a time when Bitcoin was gaining momentum due to ETF inflows and rising institutional interest, highlighting the significant impact of macro policy changes on the crypto market. (CoinDesk)