Bitcoin Sinks Below $115K As Trump Tariffs Blitz Triggers $705M In Long Liquidations
Bitcoin slid more than 3% to $114,520 early Friday, dragging the broader crypto market with it after US President Donald Trump announced sweeping new trade tariffs on multiple nations. The sharp drop triggered over $705 million in long position liquidations in the past 24 hours, according to CoinGlass . Ethereum traders bore the brunt of the pain, with $226.37 million in long liquidations, surpassing the $177.72 million shaken out of Bitcoin. The broader crypto market cap tumbled over 4% to $3.72 trillion, according to CoinMarketCap . Investor sentiment also took a knock, with the Crypto Fear and Greed Index falling 7 points to a score of 65/100. Trump Imposes Tariffs On Multiple Trading Partners The sell-off followed Trump’s signing of an Executive Order that raised tariffs on nations that failed to strike trade agreements with the US by the Aug. 1 deadline. Targets include Canada, Taiwan, Thailand, and Switzerland, while more compliant partners like the EU, ...