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Market

Donald Trump’s Tariffs Cause Widespread Market Crash

The crypto market saw significant volatility in the past 24 hours, triggered by President Donald Trump’s announcement of new tariffs, causing uncertainty in global markets. Bitcoin (BTC) dropped from about $88,500 to $83,400.

Haider Jamal
April 3, 2025

159K Traders Liquidated

Around $500 million in liquidations occurred, with $300 million in the last four hours. Short and long positions were both affected, with over $100 million in long positions liquidated within one hour.

Source: Coinglass

A total of 159,333 traders were liquidated, with $489.07 million in losses. The largest single liquidation was $11.97 million in ETHUSDT on Binance. $257 million came from long positions, and $232 million from short positions.

Liquidation Day or Liberation Day?

The total crypto market cap has decreased by $200 billion, affecting BTC, ETH, SOL, XRP, and ADA. The volatility stems from Trump’s “Liberation Day” tariffs, which led to price fluctuations. Bitcoin is currently trading around $83,500, down 0.9%.

On April 2nd, Bitcoin dropped to $82,000 as global markets reacted to Trump’s tariff announcement. Despite short-term challenges, analysts remain optimistic, forecasting Bitcoin could reach over $200,000 by the end of 2025, with some predicting up to $500,000 if the U.S. creates a Bitcoin reserve.

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Haider Jamal

Content Strategist

Haider is a fintech enthusiast and Content Strategist at CryptoWeekly with over four years in the Crypto & Blockchain industry. He began his writing journey with a blog after graduating from Monash University Malaysia. Passionate about storytelling and content creation, he blends creativity with insight. Haider is driven to grow professionally while always seeking the next big idea.