Bitcoin, Ethereum, Dogecoin Down Bad Amid Record $19 Billion in Crypto Liquidations

Core Insights - The cryptocurrency market experienced a significant downturn following U.S. President Donald Trump's threats of new trade tariffs on China, leading to widespread investor concern and a sharp decline in prices [1][2]. Market Performance - Bitcoin's price fell from over $121,000 in the morning to below $106,000 by the afternoon [2]. - Ethereum dropped from $4,300 to under $3,600, while altcoins like Dogecoin and Cardano saw daily dips of up to 40% before partially recovering [3]. Liquidation Events - A record $19 billion worth of crypto positions were liquidated within 24 hours, primarily affecting long positions, which accounted for nearly $17 billion [4][5]. - This liquidation event is noted as the largest in crypto history, with over 1.6 million traders affected [6]. Recovery and Current Status - Following the initial plunge, Bitcoin is currently down nearly 8% at just above $112,000, while Ethereum shows a 12% loss at $3,816 [7]. - Predictions indicate a continued volatile weekend for Bitcoin, with a 56% chance of further declines before Monday [8].