Trump tariff shock wipes nearly $1trn off crypto market in 24-hour rout - Businessamlive

Onome Amuge explores how Trump's tariff announcement triggered cryptocurrency's largest single-day crash in history.

The global cryptocurrency market lost nearly $1 trillion in value within 24 hours after President Trump announced 100% tariffs on Chinese software and technology imports. Bitcoin plummeted from $125,000 to $104,000, while other cryptocurrencies suffered declines up to 30%, forcing 1.6 million traders to liquidate positions worth over $20 billion.

• The crash was primarily mechanical, driven by leveraged liquidations rather than blockchain fundamentals, as crypto markets operate 24/7 without circuit breakers
• Institutional participation remains strong with over 70% of Bitcoin supply now controlled by institutional wallets, signaling market maturation
• The volatility demonstrates cryptocurrency's evolution from speculative asset to macro-sensitive investment class that reacts to global trade policies
• Despite the dramatic correction, analysts view this as a healthy market reset that clears excess leverage and strengthens the foundation for future growth