Crypto Market Suffers Record $6 Billion Liquidation

The global crypto market faced a massive crash on Friday after U.S. President Donald Trump announced a new round of 100% tariffs on Chinese imports and export controls on software. The shock announcement triggered panic selling, sending major cryptocurrencies—including Bitcoin—into sharp decline.

Bitcoin, which had recently hit a new all-time high, tumbled rapidly as volatility spiked across the market. According to data tracker Coinglass, the sharp drop led to what it described as “the largest liquidation event in crypto history.”

More than $6 billion worth of leveraged positions were forcibly closed within just 24 hours, wiping out thousands of traders worldwide. Analysts noted that the selloff was amplified by automated liquidations on futures exchanges as margin calls cascaded through the system.

Market experts say the crash was fueled by a combination of geopolitical tension, policy uncertainty, and profit-taking following Bitcoin’s record rally. The sudden downturn has renewed debate about crypto’s extreme volatility and vulnerability to global political shocks.

While some traders expect a short-term recovery once markets digest the tariff news, others warn that confidence may take time to rebuild amid tightening global conditions.