Crypto Majors Slide as $600M Liquidations Hit Amid Tariff Jitters, Gold Tops Record
Major cryptocurrencies dropped after renewed tariff jitters drove a risk-off move across markets. Traders aggressively reduced leverage and reevaluated risk exposure, triggering roughly $600 million in long liquidations as margin calls swept positions. The sell-off came alongside a flight to safety, with gold hitting a record high as investors sought shelter from policy uncertainty.
The episode highlights how sensitive crypto is to macro headlines and liquidity swings; deleveraging can amplify downside quickly when confidence falters. Market participants will be watching tariff developments and broader macro data for signs of stabilization, since further policy shocks could extend volatility and prompt additional forced selling or fresh buying opportunities depending on risk appetite.