Crypto Liquidation Frenzy: Market Crash Costs $950M - Cryptolandoff

Crypto Liquidation Frenzy: Market Crash Costs $950M

The U.S. announcement of increased import duties on goods from Canada and Mexico has caused a significant decline in the cryptocurrency market.

The market sell-off is triggered when Bitcoin falls below $95,000 and then reaches $91,000.

Ethereum does the same, falling about 11% to $2,400.

Bitcoin and Ethereum traders are significantly impacted when nearly $1.4 billion in long positions are liquidated in a single day.

A number of altcoins are impacted by the liquidation cascade, which is exacerbated by the memecoin market collapse.