Analysis: Trump's Tariff Threats Trigger Turmoil in Crypto Market, Over $500 Million in Long Positions Liquidated in 24 Hours

Odaily Planet Daily News: The cryptocurrency market experienced significant volatility following the announcement by former U.S. President Trump of a proposed 50% tariff on EU imports and a 25% tariff on Apple iPhones. Bitcoin's price quickly dropped from levels above $111,000, causing market sentiment to fluctuate. According to Coinglass data, the total amount of cryptocurrency long positions liquidated in the past 24 hours has exceeded $500 million, with Bitcoin futures liquidations around $182 million and Ethereum futures liquidations nearly $142 million. Analysts believe this correction occurred as Bitcoin gained momentum from ETF inflows and rising institutional interest, highlighting the substantial impact of macroeconomic policy changes on the cryptocurrency market.