President Trump done went and shook things up on Friday, threatening a big ol’ 50% tariff on all the stuff the European Union sends over and slappin’ a 25% levy on them imported Apple iPhones. Markets went wild, I tell ya. It was May 24, 2025, around 7:03 in the mornin’. Here’s the lowdown:
Bunch of folks lost over $500 million on their bullish crypto bets ’cause of Trump’s tariff talks. Bitcoin took a nosedive, draggin’ down other cryptos like ether, Solana, XRP, and dogecoin with it. The biggest hit was a $9.53 million BTC-USDT swap on OKX, showin’ just how wild the market can get.
Them bullish crypto bets ain’t lookin’ too good after Trump started talkin’ tariffs. Bitcoin was sittin’ pretty above $111,000, then suddenly dropped to around $108,600. That wiped out some folks’ gains and had everyone feelin’ a bit shook. Other cryptos like ether, Solana, XRP, and dogecoin all took a hit too, with losses rangin’ from $30 million to over $100 million. Big oof.
When an exchange has to close a trader’s leveraged position ’cause they couldn’t meet the margin requirements, that’s a liquidation. And boy, did we see a lot of them happenin’. A $9.53 million BTC-USDT swap on OKX was the biggest one yet. These big liquidations can mean folks are panic sellin’ or buyin’, showin’ that the market might be in for a change. With all this chaos goin’ on, it’s hard to say what’s gonna happen next.
