Article Summary

**Cryptocurrency Market Faces Massive $500 Billion Wipeout as Bitcoin Plunges Below $110K** The cryptocurrency market experienced devastating losses following President Trump's China tariff threats, with total market capitalization crashing from $4.25 trillion to under $3.75 trillion—a staggering $500 billion decline. Bitcoin (BTC) led the market carnage, plummeting to $109,683 in a near double-digit drop within 24 hours. The crypto bloodbath triggered massive liquidations across leveraged trading positions, with $9.45 billion in leveraged positions obliterated and 1.42 million traders facing liquidation. This dramatic market correction highlights the volatile nature of digital assets and their sensitivity to geopolitical events and policy announcements. The widespread crypto selloff demonstrates how external economic factors continue to impact blockchain-based investments, affecting everything from major cryptocurrencies to DeFi protocols. Traders utilizing high leverage ratios bore the brunt of the market downturn, with automated liquidations cascading across major exchanges. This cryptocurrency crash serves as a stark reminder of the risks associated with leveraged trading in the volatile digital asset ecosystem.