Market Watch

Bitcoin Spikes Near $90K as Crypto Markets See Over $1B in Liquidations After Trump Tariff Reversal

Bitcoin briefly rebounded above $90,000, driving volatility across the broader crypto market and triggering more than $1 billion worth of liquidations in the past 24 hours as traders adjusted positions amid sharp swings. The rebound followed comments by President Donald Trump that he would drop planned tariffs on European nations tied to discussions over Greenland and NATO cooperation — a shift that also lifted U.S. stocks and risk assets. 

The sharp price action came after Bitcoin dipped toward roughly $87,000 earlier in the session, only to climb back as markets digested the news and renewed appetite for riskier assets. Data from derivatives platforms shows the price move wiped out more than $1 billion in leveraged positions, with both long and short traders forced out as prices oscillated. Bitcoin accounted for a significant portion of the liquidations, while altcoins like Ethereum and XRP also saw positions liquidated amid the broad bounce. 

Market participants linked the moves to the broader macro backdrop, where geopolitical headlines and shifting tariff expectations can sway risk markets quickly. Trump’s announcement that he would “not be imposing the tariffs that were scheduled to go into effect” helped calm some downside pressure and sparked buying in both crypto and equity markets. 

The episode underscores how macro political shifts and headline risk remain core drivers of near-term crypto volatility — especially in a market still digesting regulatory ambiguity and macroeconomic data — while leveraged traders continue to feel outsized impacts from sharp, intraday price moves. 

Terron Gold

Recent Posts

S&P Global Acquires OpenZeppelin as Wall Street Pushes Deeper Onchain

S&P Global has agreed to acquire smart contract security company OpenZeppelin, bringing one of blockchain’s…

3 days ago

House Advances Sweeping Crypto Tax Bill After CLARITY Act Setback

Less than 24 hours after the CLARITY Act failed to clear its Senate procedural hurdle,…

4 days ago

Circle Launches Arc Mainnet With BlackRock and Visa as Validators

Circle has officially launched the public mainnet of Arc, its new Layer 1 blockchain built…

4 days ago

House Panel Advances Bill to Lock U.S. Bitcoin Reserve Into Law For 20 Years

U.S. lawmakers have advanced legislation that would turn President Donald Trump’s Strategic Bitcoin Reserve from…

4 days ago

Pixelmon Shuts Down Game Development After Years of Trying to Recover

Pixelmon is officially ending game development and laying off its gaming team after an external…

4 days ago

CLARITY Act Stalls After Senate Vote Falls Short

The CLARITY Act suffered a major setback in the U.S. Senate after lawmakers failed to…

5 days ago