Trump Tariffs, Why is Bitcoin Falling? Crypto Liquidations, XRP News

The crypto market plummeted, shedding $460 billion in just 24 hours, with over $1.09 billion in liquidations. Bitcoin (BTC) dropped over 10%, while altcoins like Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA) fell 15%-25%. Analysts predict BTC may dip to $70,000-$75,000 before resuming an uptrend. Despite President Trump’s crypto reserve announcement, the market faces continued uncertainty amid tariff news.

Bybit CEO Ben Zhou revealed that out of the $1.4 billion in hacked funds, 77% are still traceable, 20% have gone dark, and 3% have been frozen. The hackers have successfully converted 83% of the stolen funds, amounting to approximately $1 billion worth of Ethereum (ETH), into Bitcoin (BTC). This significant development highlights the ongoing investigation and the complex nature of tracking and recovering stolen cryptocurrency.

Bitcoin (BTC) saw a sharp decline, dropping to $83K, while Ethereum (ETH), XRP, and Solana (SOL) also crashed 14%-20% intraday. The crypto market lost nearly 10% in value amid massive liquidations totaling over $1 billion. Despite President Trump’s crypto reserve announcement, liquidity setbacks and broader market trends contributed to the sell-off, with meme coins like Dogecoin and Shiba Inu also mirroring the downturn.

Ether (ETH) has dropped 15% in the past 24 hours, reaching levels unseen since November 2023, as the broader market grapples with volatility sparked by U.S. President Donald Trump’s trade war threats. This has led to a wider decline With over $165 million in ETH long positions liquidated and a weak institutional demand, ETH faces continued bearish pressure, exacerbated by macroeconomic factors.