The crypto market witnessed more than $7.5 billion in positions liquidated within an hour following President Donald Trump's decision to impose a 100% tariff on China.
As per the latest Coinglass data, $6.22 billion in long and $1.29 billion in short positions got wiped out during the period.
Bitcoin led with $1.83 billion in liquidation, followed by Ethereum with $1.68 billion, Solana with 614.38 million, and XRP with $432.46 million.
If we look at the past 24 hours, more than $9 billion has been liquidated from the crypto market. $7.5 billion in long and $1.5 billion in short positions got wiped out during the period.
Overall, 1.4 million investors liquidated their trading positions within the last 24 hours.
The HTX crypto exchange saw the largest single liquidation of $87.53 million in BTC/USDT.
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