Crypto markets experienced significant turbulence, marked by record liquidations totaling $19 billion across Bitcoin, Ethereum, and altcoins, largely attributed to Trump's China tariff threats. Bitcoin prices dropped, while Ethereum saw substantial short positions and open interest declines. XRP also faced a flash crash and high volatility, though BNB showed a notable 6.84% recovery amid rumors of a potential presidential pardon for its founder, Changpeng Zhao.
Key Developments
- Record $19 billion crypto liquidations across Bitcoin, Ethereum, and altcoins, linked to Trump's tariff threats.
- Speculation intensifies regarding a potential presidential pardon for Binance founder Changpeng Zhao (CZ).
- Astaroth Banking Trojan identified using GitHub to target Bitcoin and other crypto credentials.
- US Senate passes GAIN Act, prioritizing domestic AI chip sales, potentially impacting US Bitcoin mining competitiveness.
- Major banks including Bank of America, Citi, and Goldman Sachs are exploring the launch of a joint stablecoin.
Next 6 Hour Outlook
Expect continued market sensitivity to macroeconomic news, particularly regarding US policy and trade, with potential for further price swings and ongoing liquidation events in the next 6-12 hours.
Top Tickers
BTC
ETH
XRP
BNB
LTC