Trump's tariff war bloodbath in the market! BTC fell below 96,000, Ether lost $2900, XRP plummeted 20%... Over 450,000 people got liquidated, totaling $1.2 billion.

After President Trump officially launched the tariff war against Canada, Mexico, and China last week, the cryptocurrency market continued to plummet. BTC fell to a low of $95,432 with a long wick candle in the morning, while other altcoins fared even worse. (Background: Trump threatened to impose 100% tariffs on Taiwan: 98% of global chips come from Taiwan! The production should return to the US) President Trump announced last week that starting from February 1st, a 25% tariff would be imposed on Canadian and Mexican goods, and a 10% tariff on Chinese goods, officially triggering a global tariff war. Canadian Prime Minister Justin Trudeau announced retaliatory tariffs, starting from February 4th, imposing a 25% tariff on $20 billion worth of US goods, including beer, wine, bourbon, fruit, juice, clothing, sports equipment, and household appliances. Mexican President Claudia Sheinbaum has also instructed the Minister of Economy to study tariffs and non-tariff measures. The Chinese Ministry of Commerce issued a statement yesterday (2nd) stating that it will file a lawsuit with the WTO and take appropriate countermeasures. BTC fell below $96,000, and altcoins were hit hard. Since Trump announced the tariff measures, the US stock market has not yet opened, but the cryptocurrency market has been hit hard. Over the past weekend, BTC fell to a low of $95,432, the lowest since mid-January. The altcoin market fared even worse, with Ethereum falling below $2,900 and SOL dropping below $200. XRP, among the top ten tokens, experienced the largest decline, plummeting nearly 20% in the past 24 hours. Over the past 24 hours, liquidations in the cryptocurrency market reached nearly $1.2 billion. According to Coinglass data, in the past 24 hours, the total amount of liquidations in the cryptocurrency market reached $1.19 billion, with long orders accounting for $1.05 billion and short orders totaling over $147 million. Over 450,000 people were liquidated. With the opening of the US stock market tonight, the overall cryptocurrency market may face another wave of volatility. Investors should be cautious. Related reports: China calls for rescuing A-shares! Plans to invest billions of RMB annually, but the market is still concerned about Trump's tariff threats. Gold breaks through resistance, will BTC follow suit? Analysts: Trump's tariff threats lead to a significant trend of capital hedging. Trump announces 25% tariffs on Canada and Mexico, US dollar index surges. Is tonight's US stock market in trouble? This article was originally published on BlockTempo, the most influential blockchain news media in the blockchain industry.