Analysts: Over 310,000 people liquidated due to Trump's latest remarks

ChainCatcher news, the cryptocurrency market collectively plummeted on March 4, with Bitcoin briefly dropping below $83,000, a decline of over 11% within 24 hours, Ethereum falling over 17%, and ADA dropping over 28%. Coinglass data shows that the total liquidation in the cryptocurrency market exceeded $1 billion, with over 310,000 people liquidated. In the secondary market, most Hong Kong stock cryptocurrency concept stocks also fell, with Boyaa Interactive dropping over 13%, OKC Cloud Chain falling over 21%, and OSL Group down over 3%.
Analysts pointed out that the renewed sell-off in the crypto space is related to Trump's latest remarks. On March 3 local time, Trump stated that reciprocal tariffs would begin to be imposed on April 2, and the 25% tariff on goods from Mexico and Canada would take effect on March 4. After this news spread, investors' concerns about the "trade war" intensified, leading to a sell-off of U.S. tech stocks, cryptocurrencies, and other risk assets. The cryptocurrency market collectively plummeted on March 4, with Bitcoin briefly dropping below $83,000, a decline of over 11% within 24 hours, Ethereum falling over 17%, and ADA dropping over 28%. Coinglass data shows that the total liquidation in the cryptocurrency market exceeded $1 billion, with over 310,000 people liquidated. In the secondary market, most Hong Kong stock cryptocurrency concept stocks also fell, with Boyaa Interactive dropping over 13%, OKC Cloud Chain falling over 21%, and OSL Group down over 3%.

Analysts pointed out that the renewed sell-off in the crypto space is related to Trump's latest remarks. On March 3 local time, Trump stated that reciprocal tariffs would begin to be imposed on April 2, and the 25% tariff on goods from Mexico and Canada would take effect on March 4. After this news spread, investors' concerns about the "trade war" intensified, leading to a sell-off of U.S. tech stocks, cryptocurrencies, and other risk assets.