All articles tagged with #crypto sell off
President Trump's threat to impose 100% tariffs on China triggered a massive crypto sell-off, with liquidations totaling over $18 billion, marking the largest in crypto history, and causing significant declines in major cryptocurrencies like Bitcoin, Ether, and Solana amid broader market declines.
The cryptocurrency market experienced a significant sell-off, with Bitcoin dropping nearly 8% and other major cryptocurrencies like XRP, Litecoin, and Bitcoin Cash experiencing even greater declines. The total cryptocurrency market cap has decreased by approximately $60 billion in the past 24 hours. While the exact reasons for the drop are unclear, potential factors include concerns over China's economic outlook, low trading volumes, and regulatory actions. Despite the recent downturn, Bitcoin is still up over 56% year to date.
Ethereum fell as much as 7% amid a wider crypto sell-off, with Bitcoin falling 3% in under 30 minutes. Altcoins like Solana and Polygon also took hits. The cause of the sell-off is unclear, but markets have been sensitive to signs of central bank tightening and inflation. Experts suggest that a large crypto holder offloading a massive position on an exchange and Binance enabling withdraws of staked ether may have contributed to the drop in prices. Volatility has returned to the market after months of upside for digital assets.