Bitcoin (BTC) and Nasdaq futures declined during Asia trading as China imposed retaliatory tariffs against the U.S.
Beijing introduced a 15% duty on U.S. coal and LNG, a 10% tax on crude oil, agricultural machinery, and large-engine cars, while launching an antitrust probe into Google.
BTC briefly recovered from $92,000 to over $102,000 due to a U.S. tariff pause on Mexico and Canada but fell to $98,500 following China’s latest actions. (Source)
Traders faced a $560 million (₱32.6 billion) liquidation bloodbath over 24 hours as Bitcoin surged 7.6%, fueled by Trump’s tariff pause and rumors of a U.S. sovereign wealth fund eyeing crypto.
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Key details:
$560M liquidated — 53% were bearish bets (shorts), a rare dominance.
Bitcoin reclaimed $101,000; Ethereum and Solana soared 15%+ after Trump halted Canada tariffs.
$38.78M BTC short on HTX was the largest single liquidation.
The numbers:
Liquidations breakdown (24h):
Shorts: $298.94M (53% of total).
Longs: $261.35M.
Top assets liquidated:
BTC: $80.75M (Shorts at $77.18M)
ETH: $66.26M (Shorts at $79.09M)
SOL: $10.14M
Exchanges hit hardest (4h):
Binance: $12.05M.
Bybit: $5.09M.
HTX: $962K.
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The triple catalysts:
Trump’s reversal on Canada/Mexico tariffs eased inflation fears.
Trump’s executive order to create a U.S. wealth fund sparked speculation it could hold Bitcoin.
Projects like AI16Z (+22%) rebounded, squeezing pessimistic traders.
Between the lines:
Bears betting on prolonged trade war chaos were caught off-guard. ETH shorts lost $79M as prices snapped back.
Eric Trump’s “great time to buy ETH” post coincided with a $60M Ethereum transfer to Coinbase by a Trump-linked DeFi project.
What to watch next:
Markets will dissect the U.S. Treasury/Commerce Department’s plans for potential crypto exposure.
![Photo for the Article - [Update] Crypto Traders Hit Hard as Market Reacts to US-China Tariff War](https://bitpinas.com/wp-content/uploads/2025/02/image-2.png "[Update] Crypto Traders Hit Hard as Market Reacts to US-China Tariff War 2")
![Photo for the Article - [Update] Crypto Traders Hit Hard as Market Reacts to US-China Tariff War](https://bitpinas.com/wp-content/uploads/2025/02/image-3.png "[Update] Crypto Traders Hit Hard as Market Reacts to US-China Tariff War 3")
