Crypto Bloodbath: U.S. Tariffs Send Bitcoin Below $100K

Crypto Stocks Crushed as U.S. Tariffs Wreak Market Havoc

Bitcoin and other major cryptocurrencies have taken a significant hit following the U.S. government's announcement of new tariffs on imports from Canada, Mexico, and China. The news has sent shockwaves through global markets, with Bitcoin falling below $100,000 and other cryptocurrencies like XRP and Cardano's ADA experiencing double-digit losses.

Bybit CEO Ben Zhou estimates that the total market liquidation has reached at least $8 billion to $10 billion, with Bybit alone recording $2.1 billion in liquidations in the past 24 hours. Zhou also notes that the actual figures may be significantly higher than reported, due to data limitations imposed by major exchanges.

Analysts and market observers are divided on the potential impact of these tariffs on the crypto market. Some, like Amit Kukreja, argue that Bitcoin is a risk-on asset and will suffer further dips as global liquidity contracts. Others, like Alex Krüger, believe that while short-term pain is inevitable, long-term recovery remains possible.

Despite the uncertainty, some investors remain optimistic. André Dragosch, Bitwise's European head of research, sees the current market conditions as an opportunity to add exposure in Bitcoin. Jeff Park of Bitwise Invest predicts that the price of Bitcoin will go "violently higher" as the financial war unravels.

Trump's tariffs have also affected his own family's decentralized finance protocol, World Liberty Financial, which reportedly lost over $51.7 million in a single day.

In response to the market turmoil, Trump has announced a pause in the planned implementation of tariffs against Mexico, as negotiations with the country's president continue. This decision has led to a rebound in Bitcoin and other major cryptocurrencies, with Bitcoin rising nearly $4,000 in an hour.

Market analysts will be closely watching the implications of this agreement, especially in the context of current global trade dynamics and ongoing negotiations in other sectors. The ramifications of this decision could lead to a broader discourse on fiscal policy and international cooperation.

Disclaimer: The information provided on COINOTAG NEWS is for informational purposes only and should not be considered financial or investment advice. Always conduct your