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.
SWIFT has launched a new blockchain-based ledger pilot with 17 major banks to test how tokenized deposits can move across…
Sony Bank, the banking arm of Sony Financial Group, has received conditional approval from the Office of the Comptroller…
PayPal has expanded its stablecoin strategy by launching PayPal USD (PYUSD) natively on the Polygon blockchain, giving businesses direct access…
BONK, one of Solana's most recognizable memecoins, is facing a major governance crisis after an…
World, the blockchain ecosystem co-founded by Sam Altman, is shifting its prediction market infrastructure from Solana to the…
BNB Chain has revealed plans to build a brand-new Layer 1 blockchain specifically designed for the next generation…