Bitcoin Price Dips Amid Tariff News Triggering Massive Long Liquidations and Crypto Stock Sell-Offs
Main Idea
The crypto market declined sharply on August 2 due to Trump's tariff announcement, triggering massive long liquidations and impacting crypto-related stocks more severely than cryptocurrencies themselves.
Key Points
1. Bitcoin briefly dropped to $113,988.47, while Ethereum, XRP, and BNB saw slight decreases.
2. Crypto-related stocks like Coinbase (-15%), Circle (-4%), Galaxy Digital (-2%), Bitmine Immersion (-8%), and MicroStrategy (-5%) experienced steep declines.
3. Long liquidations forced traders to sell assets to cover margin debts, intensifying the market's downward momentum.
4. Bitcoin showed relative resilience, stabilizing quickly and reinforcing its role as a benchmark asset in the crypto ecosystem.
Description
Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! The crypto market
Latest News
- ATA Creativity Global Partners with Baby BTC to Pioneer BTCFi Ecosystem as First Listed Platform2025-08-02 05:10:23
- BTCS Seeks to Raise $2 Billion in Stock Offerings to Potentially Expand Ethereum Holdings2025-08-02 05:10:07
- TRON Proposes SELFDESTRUCT Instruction Upgrade Aligned with Ethereum EIP-6780 to Boost Network Security and Compatibility2025-08-02 04:54:17
- Avalanche (AVAX) Tests Key Liquidity Near $28 Amid Rising Risk and Reversal Signals2025-08-02 04:53:59
- Mars Finance Reports Bitcoin Fear and Greed Index Drops to 54 Amid Market Shifts2025-08-02 04:40:51