Tariff threats and shutdown fears drag Bitcoin down as liquidations spike
Bitcoin plunged to $87,286, down 2.36%, after a brutal $60 million leveraged long wipeout in under 30 minutes, with liquidation volume now sitting at $87.18M.
The collapse wiped out short-term bullish sentiment just as U.S. stock futures prepare to open in under 7 hours.
Across altcoins, ETH dropped 4.38% to $2,835, with $133.63M in liquidations. SOL sank nearly 5% to $120.97, while XRP slipped 4.67%, and DOGE fell 3.64%.
BNB also dipped 2.95% to $863.48. Combined sell-offs across AI, Layer-1s, and gaming tokens added to the pressure, as on-chain categories from DePIN to DeFAI posted red across the board.
President Donald Trump raised stakes even higher, posting on Truth Social, “Canada is systematically destroying itself… the China deal is a disaster… I want to see Canada survive and thrive!”
In a follow-up, Trump added, “China is successfully and completely taking over the once Great Country of Canada. So sad… I only hope they leave Ice Hockey alone!”
