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02/05 15:27

Ethereum leads crypto’s $2.24B liquidation amid ta

Ethereum leads crypto’s $2.24B liquidation amid tariff wars

More than $2.24 billion was liquidated from the cryptocurrency markets in the past 24 hours amid growing geopolitical uncertainties arising from the global tariff war. Ether took the lead, with combined long and short liquidations worth over $609.9 million.

Total daily crypto liquidations on Jan. 3 of over $2.24 billion were shared across more than 730,000 traders. The biggest single liquidation order was recorded on crypto exchange Bina for an ETH/BTC trading pair valued at $25.6 million, according to CoinGlass data.

Long traders lost $1.88 billion, or 84% of the total liquidations, highlighting overall anticipation of another bull run. 

In January, the US spot Bitcoin exchange-traded funds (ETFs) pulled in nearly $5 billion worth of investments, setting the stage for a potential $50 billion in inflows by the end of 2025.

Adverse effects of global politics on crypto markets

Alongside the massive liquidations, top altcoins, including ETH and Cardano , dropped double digits in an hour after US President Donald Trump announced the first round of tariffs against imports from China, Canada and Mexico.

Theya’s Bitcoin head of growth and analyst, Joe Consorti, noted that the Trump-induced $2.24 billion liquidation event was larger than liquidations during the COVID-19 pandemic and the FTX collapse.

As of Feb. 3, the investor sentiment in the crypto market stands at “fear,” according to Alternative.me data. 

This suggests that crypto investors are starting to get worried about their investments. Historically, extreme fear sentiments have served as a buying opportunity for many. 

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