The crypto market experienced a major crash, wiping out $2.24 billion in liquidations in a single day, surpassing previous collapses. Bitcoin dropped to $94,000, causing chaos throughout the market and devastating leveraged traders. Ethereum traders were hit the hardest, facing $609 million in liquidations, followed by Bitcoin with $412 million. Other cryptocurrencies like XRP, Dogecoin, and Solana also saw significant forced liquidations. Altcoins are suffering even more, with some down more than 80% from their peak. Bitcoin dominance has increased, and traders are avoiding riskier altcoins. Bitcoin's stability amidst the crash has surprised some experts. The crash follows President Donald Trump's imposition of new tariffs, sparking global economic concerns. However, some analysts believe these tariffs could benefit Bitcoin in the long run, as it could become a safe haven amid economic instability. Despite the market's short-term turmoil, there are potential opportunities for profit in the coming days, according to crypto expert Crypto Michael.



Other News from Today