Cryptocurrency prices came under strong selling pressure over the weekend amid rising concerns around Trump’s tariff wars.

Cryptocurrency prices came under strong selling pressure over the weekend amid rising concerns around Trump’s tariff wars.

Altcoins are leading today’s crypto bloodbath with top assets like Ethereum (ETH), XRP, Solana (SOL), Dogecoin (DOGE), and Cardano (ADA), correcting between 5-and 7% in the last 24 hours.

According to Coinglass data, the crypto market liquidations in the last 24 hours have soared to over $600 million. Of these, $500 million is in long liquidation while $98 million is in short liquidation.

According to Coinglass data, the crypto market liquidations in the last 24 hours have soared to over $600 million. Of these, $500 million is in long liquidation while $98 million is in short liquidation.

Bitcoin’s price experienced a sharp decline on Friday, dropping from a daily high of $111,200 to just above $107,000. This pullback was triggered by renewed fears of a tariff war as President Donald Trump threatened a 50% tariff on the European Union, citing stalled negotiations.

This setback comes after Bitcoin recently attained new highs above $111,500, driven by ETF inflows, progress in stablecoin legislation, and increased institutional buying. However, these supportive factors have failed to shield altcoins, which are facing short-term pressure.

This setback comes after Bitcoin recently attained new highs above $111,500, driven by ETF inflows, progress in stablecoin legislation, and increased institutional buying. However, these supportive factors have failed to shield altcoins, which are facing short-term pressure.

In a Telegram message, Haiyang Ru, co-CEO of HashKey Group, noted that if Bitcoin’s volatility increases again, traders may rotate into regulated stablecoins, especially with new frameworks in the U.S. and Hong Kong facilitating that transition.