Bitcoin shed more than 5% of its value in under two hours late Sunday as President Donald Trump’s announcement of a planned 15% global tariff hike rattled investor confidence and set off a cascade of forced liquidations across crypto derivatives markets.
The world’s largest cryptocurrency fell from $67,600 to a low of $64,090 during early Asian trading hours — its weakest level in nearly three weeks — before partially recovering to around $65,755 by late morning in London.
Bloomberg reported that tariff uncertainty drove the slide, with Ether, the second-largest token by market cap, also dropping as much as 5.2% to around $1,885 during the same window.
The drop triggered over $500 million in liquidations across all crypto assets in the 24 hours through Monday morning, according to data from CoinGlass. Bitcoin and Ether positions accounted for nearly 70% of that total. More than $200 million in long positions were wiped out within the first 60 minutes of the move, according to market tracker Watcher.Guru.
The selloff compounded an already fragile market. CryptoQuant’s exchange whale ratio climbed to 0.64 — the highest reading since 2015 — indicating that roughly two-thirds of Bitcoin flowing onto exchanges originated from the 10 largest daily deposits. Large holders, not retail traders, drove the bulk of selling pressure.
Total open interest across crypto derivatives collapsed to $19.5 billion, down from a January 2026 peak of $38.3 billion, signaling a dramatic contraction in speculative activity since the market’s highs.
Spot Bitcoin ETFs listed in the US logged their fifth consecutive week of net outflows, with investors pulling a combined $3.8 billion over that stretch — the longest losing streak for the funds since February 2025.
Bitcoin has now dropped more than 46% from its all-time high of $126,000, reached in October 2025. Gold surged 2%, and silver climbed 5.6% during the same period on Monday, reinforcing its growing role as the preferred macro hedge as investors rotated away from volatile assets.
Analysts warn that additional downside risk remains if Bitcoin loses the $64,000 support level, with leveraged long positions clustered between $49,000 and $55,000 presenting the next major liquidation zone.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
