More than 500 million dollars in cryptocurrency were liquidated as Trump imposed global tariffs.

The cryptocurrency market faces a strong wave of liquidation as President Trump’s new tax policy creates significant global fluctuations.

The comprehensive tax levels recently announced by President Trump target a long list of countries, exceeding the predictions of many experts, and causing widespread economic instability. These impacts not only shake traditional asset markets but also push the digital asset market into a state of high volatility.

According to data from CoinGlass, the price of Bitcoin has plummeted from a 24-hour high of $87,790 to $83,163 at the time of writing, with a total liquidation value reaching $519 million impacting Bitcoin and the entire cryptocurrency market over the past day.

Source: CoinglassThe situation is not looking better in traditional financial markets. The Dow Jones Industrial Average dropped more than 1,000 points in after-hours trading, while futures for the S&P 500 and Nasdaq 100 fell by 3.5% and 4.2%, respectively.

In a controversial move, President Trump signed an executive order imposing a 10% tax on all imported goods into the U.S., effective April 5. This policy is stated to protect and promote domestic manufacturing.

Not stopping there, Mr. Trump also issued a statement regarding “reciprocal” tax rates applied to dozens of countries, effective April 9, with tax rates of up to 54% on China.

Speaking at the Rose Garden, President Trump emphasized that these tariffs are aimed at pressuring countries to adopt fairer trade policies.

“These countries can avoid taxes by treating us fairly—opening their markets, stopping subsidies, and ending fraudulent practices. We are willing to negotiate, but everything must be reciprocal. If not, they will have to pay the price,” Mr. Trump asserted.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should do their own research before making any decisions. We are not responsible for your investment decisions.

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Mr. Teacher

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