BTC Price Drops 8% to $93K as Asia Awakens to Trump’s Trade War


Major cryptocurrency including bitcoin (BTC), ether (ETH), Solana’s SOL, and XRP were all significantly down as Asia began its trading week.

By mid-morning Hong Kong time, BTC was down 8%, trading above $93,100, according to CoinDesk Indices data.

Meanwhile, ether (ETH) is down nearly 20%, trading at $2,500, while SOL is down 13% at $184. XRP is down 28% and trading at $2.

Data from CoinGlass shows that over the last 12 hours nearly $1.3 billion in long positions have been liquidated, with around $400 million in long ether positions and $300 million in long BTC positions.

The market correction stems from a trade war that has seemingly been ignited by U.S. President Donald Trump with 25% tariffs being placed on Canada and Mexico.

Many market observers are skeptical about the benefits of tariffs, with a Wall Street Journal editorial board op-ed calling it the “Dumbest Trade War in History” over the weekend.

Trump, for his part, dismissed criticism, in a series of posts on Truth Social over the weekend, suggesting that critics were being funded by China.



  • Umair

    Muhammad Umair is a passionate content creator, web developer, and tech enthusiast. With years of experience in developing dynamic websites and curating engaging content, he specializes in delivering accurate, informative, and up-to-date articles across diverse topics. From gaming and technology to crypto and world news, Umair's expertise ensures a seamless blend of technical knowledge and captivating storytelling. When he's not writing or coding, he enjoys gaming and exploring the latest trends in the tech world.

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