Bitcoin (BTC) experienced a sharp decline, briefly dipping below $110,000 and even touching $102,000, following President Trump's announcement of 100% tariffs on China. This geopolitical event triggered massive liquidations across the crypto market, totaling over $9 billion for leveraged positions. While BTC has seen a partial recovery, altcoins like XRP, Dogecoin (DOGE), Litecoin (LTC), and Cardano (ADA) also suffered significant losses, with some analysts predicting potential rallies for DOGE and XRP amidst the volatility.
Key Developments
- President Trump's tariff announcement on China caused a significant market downturn, with Bitcoin (BTC) dropping below $110,000.
- Over $9 billion in leveraged crypto positions were liquidated across Bitcoin (BTC) and altcoins.
- Bitcoin (BTC) and some altcoins have shown signs of partial recovery after the initial plunge.
- Institutional interest in crypto continues, with Morgan Stanley allowing client investments and State Street reporting increased digital asset allocations.
- XRP and Dogecoin (DOGE) are subjects of price predictions and discussions around utility and potential rallies.
Next 6 Hour Outlook
The market is likely to remain sensitive to macroeconomic news, particularly regarding trade policies, with continued volatility expected for Bitcoin and altcoins in the next 6-12 hours.
Top Tickers
BTC
XRP
DOGE
ETH
LTC
ADA
BNB
SOL