Analysis: Trump's tariff threat triggers market volatility, with 24H bulls selling over $500 million

Odaily Planet Daily reported that the cryptocurrency market has experienced significant fluctuations due to the announcement by former US President Trump of plans to impose a 50% tariff on EU imports and a 25% tariff on Apple iPhones. The rapid decline in Bitcoin prices from levels above $111000 has caused market sentiment to be volatile. In the past 24 hours, the total amount of cryptocurrency long positions liquidated exceeded $500 million, in addition to Bitcoin futures liquidation of about $182 million and Ethereum futures liquidation of nearly $142 million. Analysis suggests that this correction occurred at a time when Bitcoin gained momentum due to the inflow of ETF funds and increased institutional interest, highlighting the significant impact of macroeconomic policy changes on the cryptocurrency market. （CoinDesk）