President Trump has a habit of moving markets with his words, and he appears to have done that yet again Wednesday, prompting large swings across both crypto and stock markets—with the daily volatility generating over $1 billion worth of crypto liquidations in the process.
“This solution, if consummated, will be a great one for the United States of America, and all NATO nations," he added. "Based upon this understanding, I will not be imposing the tariffs that were scheduled to go into effect on February 1st.”
Long positions, or bets that an asset's price will rise, have taken the brunt of the impact with $672 million worth of positions liquidated, with shorts making up a further $335 million. Bitcoin makes up the bulk of the losses with $426 million, with Ethereum following behind with $366 million worth of positions impacted.
