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Over $1 billion in cryptocurrency positions were liquidated in the past 24 hours as the digital asset market experienced sharp volatility.

The massive liquidation event reflects ongoing turbulence in crypto markets, where leveraged traders face forced position closures when prices move against them. Bitcoin and Ethereum, as the market’s largest digital assets, typically see significant liquidation volumes during such market-wide corrections.

The liquidation wave underscores the volatile nature of crypto trading, where rapid price movements can trigger cascading forced selling as overleveraged positions get automatically closed by exchanges.

The crypto market shed over $100 billion in market capitalization today during a sharp three-hour selloff that swept across digital assets.

According to CoinGecko, the total cryptocurrency market capitalization fell from roughly $3.9 trillion to about $3.8 trillion in the past three hours.

Bitcoin, the dominant cryptocurrency often viewed as a store of value, led the decline alongside other major digital assets. The rapid drawdown follows patterns seen in previous bull market corrections, where sudden volatility triggers widespread selling pressure.

Ethereum faced amplified liquidation pressures during the market downturn. The blockchain platform for decentralized applications has experienced increased volatility amid broader market uncertainty in recent weeks.

Altcoins, digital tokens beyond Bitcoin and Ethereum, typically see amplified price swings during market-wide corrections. These alternative cryptocurrencies often experience heightened volatility during sudden market shifts, particularly when leveraged trading positions face liquidation.

The crypto market has navigated a phase of heightened volatility in recent months, with geopolitical tensions contributing to sharp price movements across digital assets. Leveraged trading risks have amplified sudden market shifts, creating cascading effects during periods of rapid price declines.

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A Bitcoin OG who previously sold Bitcoin to stack ETH deposited $40 million in USDC into Hyperliquid, a decentralized perpetuals exchange, today to boost his Bitcoin short position.

The whale recently expanded his short positions on BTC and ETH, generating profits exceeding $160 million following a rapid market drop.

Large traders have been depositing stablecoins like USDC into Hyperliquid to adjust positions and avoid liquidations during market rebounds, reflecting adaptive trading strategies in volatile conditions.

Hyperliquid continues to attract whales for leveraged plays on BTC, with recent instances of insiders and large traders doubling down on shorts amid expectations of market corrections.

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President Donald Trump today proposed a massive increase in tariffs on Chinese imports, escalating trade tensions as both nations clash over critical materials and export restrictions.

Bitcoin slipped below $120,000 amid renewed tariff headlines. The leading crypto asset recently touched a fresh all-time high above $126,000.

The announcement comes as China has expanded its rare earth export restrictions to include controls on products with even trace amounts of domestic materials, requiring special licenses for resales. These controls target rare earth elements, critical minerals essential for manufacturing magnets, electronics, and defense technologies.

China implemented the broader export controls as a national security measure, directly responding to ongoing US tariff pressures. The restrictions apply globally but particularly affect supply chains critical to American industries.

Trump has emphasized the need for increased US access to rare earth magnets from China, warning of higher tariffs if export controls disrupt these supply chains. China remains the dominant global supplier of processed rare earth elements.

The escalating trade dispute comes ahead of potential high-level meetings between Trump and Chinese leaders.

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Binance co-founder Yi He directed users experiencing losses to contact customer service today. She acknowledged transaction issues stemming from intense market fluctuations and emphasized the need for users to verify details before trading.

The cryptocurrency exchange has been managing user transaction disruptions caused by recent market volatility and high user activity. Binance maintains a customer service process for handling user complaints related to platform-attributable losses.

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Konstantin Ganich, a Ukrainian crypto blogger and trader known online as Kostya Kudo, was found dead in a Lamborghini today amid a severe cryptocurrency market downturn.

The incident occurred as digital assets experienced extreme volatility, intensifying ongoing discussions about mental health challenges facing crypto traders and influencers.

Ukraine has seen growing cryptocurrency adoption as residents seek economic resilience amid national financial pressures. Galish had been promoting trading strategies during this period of market instability.

Recent crypto market fluctuations have created widespread distress across the trading community, particularly affecting high-profile investors and social media influencers who built followings around digital asset investments.

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BlackRock clients sold $80.2 million worth of Ether today, marking significant outflow activity from the asset management firm’s spot Ethereum ETF products.

Ethereum ETFs have facilitated active trading adjustments as institutions respond to market volatility. The selling activity underscores how traditional finance players are using these products to manage exposure to the blockchain network that supports decentralized finance and layer-2 scaling solutions.

Despite periodic sell-offs, institutional players like BlackRock continue to provide Ethereum exposure for clients, highlighting the growing mainstream integration of blockchain assets in traditional finance.

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