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

39 U.S. Banking Associations Join Forces to Build Nationwide Blockchain Network

Thirty-nine U.S. state banking associations are joining forces to build their own nationwide blockchain network,…

4 days ago

Bitcoin Gets a Quantum Lifeboat as StarkWare Executes Historic Mainnet Transaction

StarkWare says it has successfully executed the first quantum-resistant Bitcoin transaction on the Bitcoin mainnet,…

4 days ago

OpenAI’s AI Agents Went Rogue and Built Their Own Network to Hack Hugging Face

An independent investigation into OpenAI’s recent Hugging Face security incident found something far stranger than…

4 days ago

GTA 6 Leaker Pumps His Own Memecoin Then Cashes Out $270K Before Rockstar Reveal

The anonymous hacker behind a wave of Grand Theft Auto VI leaks appears to have…

4 days ago

Keep Your Bitcoin and Buy the House as Coinbase and Better Take Crypto Mortgages Nationwide

Coinbase and Better Mortgage are making token-backed mortgages broadly available to Coinbase One members, allowing…

4 days ago

Grayscale Launches First U.S. Zcash ETF as ZEC Surges

Grayscale has officially launched the first U.S.-listed exchange-traded product dedicated solely to Zcash, bringing the…

5 days ago