Trump’s Tariff Tantrum Trashes Crypto: $1B in Liquidations! 😱

In the shadow of a world teetering on the brink of economic absurdity, the crypto markets, like a flock of startled crows, have taken flight in panic. The great stock indexes, those barometers of human greed and fear, plummeted on Friday, as the eternal feud between the mighty United States and the enigmatic China reignited. The crypto market cap, once a towering giant, shrank by 2%, now hovering meekly around $4 trillion. 🤑

Bitcoin (BTC), the once-proud king of the digital realm, stumbled 3%, trading below $119k, while Ethereum (ETH), its loyal vassal, plunged over 6%, now languishing around $4.1k. The Dow, that ancient oracle of Wall Street, shed 500 points, settling at 45,908, and the NASDAQ, the tech-laden chariot of progress, slipped 2%, to 22,552. 📉

The Great Liquidation: A Carnival of Recklessness

In the wake of this sudden market selloff, 203,684 traders were cast into the abyss, their dreams of riches shattered like glass. Over $881 million was rekt, a testament to the merciless nature of the markets. CoinGlass, that silent observer of financial folly, reported the largest single liquidation order on Hyperliquid-a BTC-USDT trade valued at $15.5 million. A single stroke of fate, a single tear in the fabric of hope. 😢

Long traders, those eternal optimists, bore the brunt of the carnage, with over $709 million in losses, fueling a bearish sentiment that spread like wildfire. Yet, in this sea of despair, the Bitcoin OG, that enigmatic figure who swapped BTC for ETH last month, emerged unscathed, profiting handsomely from yesterday’s BTC short. Lookonchain reveals a cumulative unrealized profit of over $35 million-a mocking laugh in the face of chaos. 🤡

Why the Crypto Market Weeps Today

The Eternal Feud: Trump vs. China

The root of this financial calamity lies in the renewed feud between the United States and China, two titans locked in an endless dance of power and pride. On Friday, President Trump, with the flair of a dramatic actor, threatened to unleash massive tariffs upon China, as China, in turn, imposed export controls on its rare earths, those precious magnets of modern industry. A game of economic chicken, played out on the global stage. 🐔

Earlier this year, the crypto markets endured prolonged choppy waters after President Trump imposed additional tariffs through executive orders. A pattern emerges, a cycle of chaos and uncertainty, as the world holds its breath, waiting for the next move. 🌊

The U.S. Government Shutdown: A Farce of Inaction

Adding to the crypto market’s woes is the ongoing gridlock between the Democrats and Republicans, a political stalemate that has delayed crucial legislation. The U.S. SEC, that guardian of financial order, has missed its final deadline to decide on a spot crypto ETF, thanks to the government shutdown. Meanwhile, the CLARITY Act, a beacon of hope for regulatory clarity, is expected to be delayed, with reports hinting at bipartisan hostility. A circus of inaction, where progress is sacrificed at the altar of political theater. 🎪

And so, we stand at the precipice, watching as the crypto markets, once a symbol of innovation and freedom, are buffeted by the winds of political folly and economic uncertainty. Will they rise again, or will they be swallowed by the abyss? Only time will tell. ⏳

Read More

• USD VES PREDICTION

• USD PLN PREDICTION

• FIL PREDICTION. FIL cryptocurrency

• EUR CNY PREDICTION

• JUP PREDICTION. JUP cryptocurrency

• BTC PREDICTION. BTC cryptocurrency

• STETH PREDICTION. STETH cryptocurrency

• INJ PREDICTION. INJ cryptocurrency

• NEAR PREDICTION. NEAR cryptocurrency

• USD MYR PREDICTION

2025-10-10 20:58