Bitcoin Price Dropped by $9,000 Overnight

Bitcoin plunged from $83K to $74K, causing over $1.36 billion in crypto liquidations. Trump’s sweeping tariffs created panic, wiping out long positions in Bitcoin and Ethereum.

Tariff tensions trigger market-wide sell-off

Bitcoin saw a sharp drop from $83,000 to $74,000 overnight. The sudden move resulted in $1.36 billion worth of liquidations across the cryptocurrency market, according to Coinglass.

The correction followed President Donald Trump’s announcement of aggressive tariffs on major U.S. trading partners late Friday. Over 441,000 traders were liquidated, mostly from long positions. Bitcoin accounted for $401 million in losses, with Ethereum at $341 million.

Top tokens hit hardest by liquidation

The largest single liquidation order came from Bitfinex, valued at $16.38 million. The most affected assets were BTC, ETH, SOL, XRP, and DOGE.

While Bitcoin and Ethereum absorbed most of the pressure, other altcoins also suffered major losses. The overall trend points to long-side liquidation, as shorts remained relatively low in volume.

Geopolitical pressure and financial markets

The S&P 500 Futures Index dropped 10% over the weekend, compounding the previous week’s declines. This two-day drop is one of the steepest in index history.

Bitcoin, which peaked at $109,000 in January after Trump’s reelection, has now returned to pre-Biden levels. Analysts see $73,000 as strong support, though technical signals have failed to predict the recent “black swan” event.

As global uncertainty grows, crypto markets are realigning with traditional financial instruments. Investors are now repricing risk amid rising geopolitical instability.