PANews reported on May 24 that according to CoinDesk, the crypto market has experienced dramatic fluctuations due to the news that former US President Trump announced that he would impose a 50% tariff on EU imports and a 25% tariff on Apple iPhones. The price of Bitcoin fell rapidly from above $111,000, causing turbulence in the crypto market sentiment.
According to Coinglass data, the total amount of cryptocurrency long positions liquidated in the past 24 hours has exceeded US$500 million, with Bitcoin futures liquidated at about US$182 million and Ethereum futures liquidated at nearly US$142 million. Analysts believe that this pullback occurred at a time when Bitcoin was gaining momentum due to ETF inflows and rising institutional interest, highlighting the significant impact of macro policy changes on the crypto market.