Share this article
Crypto Bulls Lose $500M as Bitcoin Hovers Around $108K After Trump’s Tariff Threats
U.S. President Donald Trump threatened a 50% tariff on all European Union imports and a 25% levy on imported Apple iPhones late Friday, sending markets tumbling.
Updated May 27, 2025, 2:16 p.m. Published May 24, 2025, 7:03 a.m.
What to know:
- Bullish crypto bets lost over $500 million as markets reacted to President Trump's tariff threats.
- Bitcoin's price dropped sharply, leading to significant losses across the crypto market, including ether, Solana, XRP, and dogecoin.
- The largest single liquidation was a $9.53 million BTC-USDT swap on OKX, highlighting market volatility and potential turning points.
Bullish crypto bets lost over $500 million in the past 24 hours as traders took profits and markets slid following President Donald Trump’s fresh threats of tariffs on European imports and Apple products, sparking a wave of liquidations.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Bitcoin, which had been trading above $111,000, dropped quickly to around $108,600, wiping out intraday gains and rattling broader market sentiment.
BTC’s drop was mirrored across the crypto complex, with futures tracking ether , Solana’s SOL, and showing losses from $30 million to over $100 million.
Bitcoin futures saw roughly $181 million in losses, while Ether futures accounted for nearly $142 million. Altcoins added another $100 million in liquidations, including notable wipeouts in SOL, DOGE, and XRP.
pic
The largest single liquidation was a $9.53 million BTC-USDT swap on OKX, CoinGlass data shows.
A liquidation occurs when an exchange forcefully closes a trader's leveraged position due to the trader's inability to meet the margin requirements.
Large-scale liquidations can indicate market extremes, like panic selling or buying. A cascade of liquidations might suggest a market turning point, where a price reversal could be imminent due to an overreaction in market sentiment.
The pullback arrived just as bitcoin was gaining momentum on ETF inflows and growing institutional interest, leading some to expect a calm weekend.
Instead, volatility returned in full force. With the macro environment now destabilized by renewed trade war fears, traders may remain cautious heading into next week’s sessions.
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Bitcoin slips below $88,000 as traders brace for $28.5 billion Deribit options expiry
Crypto continues to lose ground ahead of this week's record options expiration, while defensive positioning and thinning liquidity suggest caution into 2026.
What to know:
- Bitcoin and crypto prices moved steadily lower in U.S. Monday afternoon trading.
- Over $28.5 billion in bitcoin and ether options are set to expire Friday on derivatives exchange Deribit, the largest expiry in its history.
Top Stories
