The bitcoin price has fallen to below $107,000, a significant drop from yesterday’s peak of $123,000 and the all-time high of $126,000 reached earlier this week. Meanwhile, other leading cryptocurrencies such as ethereum, XRP, BNB, and solana have experienced even steeper declines, contributing to a staggering $500 billion loss from the total crypto market cap. Amid growing concerns about the U.S. dollar’s future, traders are preparing for additional declines as the bitcoin price crash intensifies, driven by uncertainty surrounding President Donald Trump’s new tariffs on China. Bitcoin continues to dominate the headlines as its price fluctuates amidst concerns of a potential crash. The crypto market is feeling the pressure, with Ethereum, XRP, Solana, and BNB also experiencing volatility. Investors are closely monitoring these developments as the landscape evolves.
U.S. President Donald Trump has shown support for bitcoin and cryptocurrency, contributing to a surge in the bitcoin price, as well as the broader market for ethereum, XRP, BNB, solana, and other cryptocurrencies. “A flash crash of liquidations saw almost $7 billion wiped across all markets within one hour, with $5.5 billion coming from longs,” Sean Dawson. “Bitcoin and ethereum represented $3.3 billion of those liquidations. In total, almost $9.6 billion in positions have been liquidated over the past 24 hours, marking the largest single-day wipeout in crypto history.” The abrupt sell-off was triggered by Trump declaring a 100% tariff on imports from China, alleging that the nation has adopted a “extraordinarily aggressive position” regarding trade.
“Markets are reeling after Trump’s surprise China tariff deadline reignited volatility, driving bitcoin toward $100,000 and triggering one of the largest liquidation events in crypto history,” Markus Thielen wrote, that sounded a note of optimism amongst the carnage. “With $8 billion in forced liquidations, altcoins collapsing multiple times more than bitcoin, and funding rates turning deeply negative, the setup is both chaotic—and full of opportunity.” The bitcoin price has surged this year, bolstered by U.S. president Donald Trump’s endorsement, propelling the total market for bitcoin, ethereum, XRP, solana, and BNB to unprecedented levels.
The bitcoin price and broader crypto market experienced a flash crash, coinciding with macroeconomic turmoil, as traders remain vigilant for any indications that another downturn may be on the horizon. “Bitcoin dominance above 60% signals a new structural phase, while short-dated volatility above 50% opens the door for some of the most attractive option trades in months,” analysts added. “Yet beneath the headlines, a bigger macro story is unfolding—oil below $60, Treasury yields breaking lower, and the S&P 500 showing its first technical cracks since spring.”