The geopolitical uncertainty started by the new US president over the weekend took its toll on the crypto market, which is always open for trading.<\/p>\n
Bitcoin\u2019s price tumbled by ten grand within a day to an intraday low of $91,500 (on Bitstamp), while the altcoins were smashed with massive double-digit price drops, leaving billions worth of liquidations.<\/p>\n CryptoPotato<\/em> reported<\/a> the adverse events that started on Sunday morning when BTC lost the coveted $100,000 mark after Trump imposed tariffs on China, Canada, and Mexico, and those countries announced their retaliation.<\/p>\n Although that was a painful crash of its own, it turned out to be just the beginning. BTC kept plunging on Sunday but remained at around $97,000-$98,000.<\/p>\n However, the Monday morning Asian trading session has not been kind to the asset as it plunged further to $91,500, which became its lowest price point since the January 13 massacre.<\/p>\n This means that the largest cryptocurrency had lost over ten grand within 24 hours or so. Moreover, it went down by $15,000 since Friday\u2019s top of over $106,000.<\/p>\n The violence, though, has spread a lot more among the altcoins. There\u2019s almost no alt sitting with a single-digit price drop, aside from Solana (-8%).<\/p>\n The rest, such as ETH (-20%), XRP<\/a> (-23%), BNB (-15%), DOGE (-24%), ADA (-25%), LINK (-21%), AVAX (-24%), and XLM (-20%), have shed billions of their own market caps, while the total crypto market cap is down by over $400 billion<\/a>.<\/p>\n CoinGlass data shows that the total value of wrecked positions during this massacre has shot up to over $2.2 billion on a daily scale. North of 700,000 traders have been liquidated within the same timeframe, with the single-largest position taking place on Binance. It involved the ETH\/BTC pair, which is down to a multi-year low and was worth over $25 million.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n![\"Liquidation](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/BTCUSD-4.png\")
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