Bitcoin fell over Asia's trading hours and hit a monthly low of $ 92,000 with President Donald Trump's aggressive trade tariffs.
This sharp drop has caused one of the largest clearing events last year.
Red market
According to Encryption Data and BTC's recession began when more than $ 105,000 to $ 102,000 within a few hours on January 31.
The decrease continued until the weekend, pushing BTC to less than $ 100,000, dragging a wider market.
Market data indicates that most Altcoins face similar struggles. Ethereum has fallen by nearly 20 % and has found support that exceeds the $ 2,500 mark.
Sorana, on the other hand, decreased by 10 % and landed for $ 195. XRP decreased by 17 % to $ 2.3, but other major assets, including Dogecoin and Cardano, lost about 20 %.
The performance of this price effectively wiped out the interests of these assets during the election victory rally after playing cards in December 2024.
ARTHUR HAYES, a co -founder of BitMex, warned that more loss could continue. Hayes suggested that rescue could come only when major financial institutions were facing a crisis, and urged the US Federal Reserve to intervene in fluid measures.
He wrote:
“BE hits will continue until the morality improves. The pain stops when the Tradfi costume is on the crisis of bankruptcy, and then the Fed will join the team trump and print the money. “
Trump tariff
Analysts, a Singapore -based trading company QCP, pointed out that President Donald Trump's new tariffs have caused a wide range of market sales to major trading partners, including Mexico, Canada and China.
The company also pointed out that the market has expanded completely because the shares sank, gold, soaked in gold, and the ciphers were sold violently. addition:
“With this non -correlation, today's risk -offs are driven by the rebellion of the cross -asset portfolio instead of a single set event.”
On February 1, the US President introduced 25 % of imports on imports from Canada and Mexico, and introduced 10 % of Chinese products. His administration claims that customs duties are aiming to deal with illegal immigrants and drug trafficking.
Customs duties caused immediate retaliation, and Canada, Mexico, and China responded to countermeasures.
The liquidation is abundant
Due to the sudden sluggish Crypto market, a wide range of liquidations have been held, wiped out more than $ 2 billion, affecting more than 742,000 traders according to Coinglass data.
Traders with long positions that expected to rise in price have paid the heaviest loss and lost about $ 1.88 billion in a group. People who have a short position faced about $ 379 million in hopes of further decrease.
The Ethereum Trader suffered the most, totaling $ 6111 million, of which $ 447 million came from a longer position. Bitcoin was close to $ 411 million, including $ 340 million from long bets.
Traders who bet on other assets also lost $ 439 million during the reporting period.
On the other hand, the largest single liquidation occurred in Vinance, which was completely wiped out by $ 25 million Ethereum trade.
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