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.
Elon Musk's artificial intelligence company xAI has filed a federal lawsuit challenging Minnesota's landmark law banning AI-powered "nudification" technology, arguing…
Bitcoin climbed toward $65,000 as an unusual shift in traditional financial markets created one of the rarest conditions…
Hyperscale Data has sold 100 Bitcoin to accelerate development of its planned artificial intelligence campus in Michigan, sending shares…
A newly launched memecoin called PIPEDOG ($PIPEDOG) became the latest breakout token on Robinhood Chain, surging more than 140x within…
BNY, the world's largest custodian bank, is bringing one of its core financial businesses onto…
A bipartisan group of U.S. senators has reportedly reached a new compromise on the ethics provisions of…