After US President Donald Trump announced mutual tariffs in several countries, both Bitcoin and the US stock market sold out rapidly.
On April 3, the S & P 500 fell 4.2%in the market opening and the biggest decline since June 2020. Dow Jones’ industry average decreased 3.41%from 42,225.32 to 40,785.41, while the NASDAQ complex fell 5.23%. Overall, the value of $ 1.6 trillion has disappeared from US stocks from the market.
The value of Bitcoin decreased by 8%, but the positive thing is that the bull can defend the level of $ 80,000. Such a steep decline comes from uncertainty over new tariffs and amplifies investors’ concerns about the imminent economic downturn.
Source: X
According to Coingecko’s data, the total encryption market has decreased 6.8% over the last 24 hours and is not able to run a rally in the short term.
Related: As the Trump tariff injured the US business outlook, the risk of Bitcoin price dropped to $ 71K.
Crystal liquidation rises to $ 573m
According to CoingLass, more than 200,000 merchants have been cleared in the last 24 hours and the total amount has exceeded $ 578 million. The largest liquidation occurred in Binance, and the ETH/USDT position was closed with $ 19.97 million.
Total encryption liquidation chart. Source: COINGLASS
Meanwhile, Bitcoin’s public interest dropped to less than $ 50 billion and market leverage has decreased. Joao Wedson, the CEO of Alphractal, said that the liquidation heat map is a high trading volume, which increases the potential of the potential decline by increasing the potential of the potential decline by blocking this level with a high trading volume.
Bitcoin liquidation. Source: X
Related: Trump ‘Day of Liberation’ tariffs create chaos in the market.
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.