Massive liquidations hit the crypto market with 280k traders affected and US$853 million wiped out in 24 hours, primarily from Bitcoin and Ethereum long positions.
The Fear and Greed Index has plummeted to “Extreme Fear” at 23, reaching levels not seen since early March as market sentiment deteriorates.
Analysts warn that escalating tensions between the US and China over Trump’s tariff threats could trigger further market decline.
Countries are responding differently to Trump’s tariff threats, with Vietnam, Israel, and India dropping tariffs on US products while China, the EU, and Canada contemplate countermeasures.