BTC Plummets to 3-Week Low as Trump Tariff Announcement Triggers $630M Liquidation
The update regarding Trump’s tariffs is causing significant disruptions in the crypto asset and stock markets. BTC dropped dramatically in Asia to $114,250, reaching its lowest point since June 11.
After three weeks of stagnant trading, a sudden move downward resulted in a dip to $111,000.
According to CoinGlass, 158,000 traders faced liquidations in the last 24 hours. Overall liquidations amounted to $630 million, primarily from long positions. My profits, nooo!!!
This liquidation wave indicates a preemptive approach to risk management. Spot crypto assets experienced a withdrawal of $110 billion in the 12 hours leading up to Trump’s tariff announcement, highlighting the increased anxiety in the crypto market.
President Trump ignited tensions with a steep 35% tariff on Canada and up to 39% on nations not allied with the U.S. Countries lacking trade agreements faced the harshest penalties; here’s how low 
BTC ▼-2.82% can drop.
“This week’s decline mirrors fears about tariff deadlines and greater macroeconomic uncertainty… it was probably worsened by profit-taking following recent all-time highs.” — Nick Ruck, LVRG Research
Is a Trump Tariff Pause Possible, or a BTC Freefall?
Trump’s tariff announcements surfaced amid negotiations over a potential trade agreement. The U.S. president also criticized Canada for its foreign policy changes, directly linking them to Canada’s endorsement of a Palestinian state at the UN.
On Truth Social, he commented: “Wow! Canada has just declared it supports statehood for Palestine. This will make a Trade Deal very challenging. Oh’ Canada!!!”
The peculiarity: Gaza has no relevance to tariffs or international trade, yet Trump has made it a focal point of the negotiations. Nations like China, India, Laos, Switzerland, Syria, and South Africa are also pointed out for elevated tariff rates, with some exceeding 40%.
Despite the significant drop, July marked Bitcoin’s strongest monthly performance ever, closing at $115,784 shortly after reaching its all-time peak of $122,800.
Meanwhile, DeFi engagement continues to thrive. Total Value Locked (TVL) across decentralized finance platforms grew from $86 billion in April to over $126 billion by mid-July, representing a 46% increase.
On Ethereum ▼-5.83%: Ethereum’s TVL rose from $44 billion to over $72 billion during the same timeframe, showcasing strong on-chain market demand and institutional confidence.
Looking Ahead: Support, Sentiment, and Policy Risks
If BTC quickly regains its lost value, it would signal strong resilience. Conversely, a prolonged decline below $111K could lead to further losses, especially if stock markets remain unstable.
Improving sentiment relies on progress in trade negotiations, particularly regarding a potential U.S.–China agreement. Without clear direction, profit-taking could escalate, and other risk assets might continue to face pressure.
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Essential Points
- The developments surrounding Trump’s tariffs are damaging the crypto asset and stock markets. Bitcoin has fallen to $114,250 in Asia, marking its lowest point since June 11.
- A continuous downturn beneath $111K could prompt more significant declines, particularly if stock markets stay vulnerable.
The article BTC Crashes to 3-Week Low After Trump Tariff News Sparks $630M Liquidation first appeared on 99Bitcoins.
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