Bitcoin prices, Ethereum and Dogecoin are crashed today, expressing bears in crypto market. This followed after the moves of US President Donald Trump, who lit a fear of a full trade war with China.
Why are Bitcoin, Ethereum and Dogecoin prices collapse
Bitcoin prices, Ethereum and Dogecoin have been reduced today Coinmarketcap data. Leading cryptocurrencies decreased to as much as $ 104,000 in the last 24 hours, deleting its initial October, which led to a new More and more time (ath) above $ 126,000. Ethereum fell to as much as $ 3,400, while Dogecoin broke under the psychological level of $ 0.2 and dropped to $ 0.11.
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This huge fall in Bitcoin, Ethereum and Dogecoin followed Trump’s truly social postin which he announced that he would now impose a 100% tariff on ChinaAbove any tariffs they are currently paying, starting on November 1. He added that he would also impose export controls to any and all key software from China, which begins on November 1.
Significant is that Trump is earlier during the day endangered In order to enhance the tariffs on China, at the same time stating that the earth becomes hostile. This initial threat caused Bitcoin to drop below $ 120,000 with a $ 122,000 high USD. Meanwhile, Prices Ethereum and Dogecoin He also faced sharp falls.
Bitcoin traded around $ 116,000 when Trump announced 100% of Tariff on China, which sent the cryptum market in a spiral. Further drop in BTC They also pushed Ethereum and Dogecoin to the internal lowest of $ 3,400, or $ 0.11, and extending their market losses. Meanwhile, these mass decline in the crypto assets have contributed to the biggest liquidation event in Crypto history.
Coinglass data Shows that $ 20 billion has been deleted from the cryptocurrency market in the last 24 hours, fueled by collisions in Bitcoin, Ethereum and Dogecoin. This liquidation event was larger than the collision of a Coid-19 and FTX bank decline.
Exchange may have contributed to the collision
Factor of Bitmexa Arthur Hayes He suggested that the crypto exchange may have contributed to the fall of Bitcoin, Ethereum and Dogecoin. IN X postHe stated that it was on the street that the automatic liquidation of BIG CEX for collateral ties with cross-certified positions was why many Altcoini “smoked”. He congratulated those who bought the dip, saying that the market participants probably would not see these levels on many high quality Altcoins soon.
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Crypto analyst Kevin Capital That the fall in the price of bitcoin, Ethereum and Dogecoin caused by serious problems on top -notch exchanges like Robinhood, Coinbase and Binance. He added that what worse is even worse is that these exchange did not let people buy a fall at the lowest point.
Sepaled picture from east, chart with traditionview.com
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