Bitcoin experienced a significant price drop on October 10, falling to $102,000 due to macroeconomic changes and U.S. tariff announcements before recovering to $113,270.
The event highlighted Bitcoin’s sensitivity to global economic shifts, leading to $8.02 billion in crypto market liquidations, underscoring volatility risks. Cory Klippsten commented on the macro-induced turbulence.
Bitcoin’s recent sharp decline was triggered by new U.S. tariff announcements, leading to a massive sell-off in crypto markets.
Industry executive Cory Klippsten attributed the downturn to a “macro whiplash” and warned of continued volatility in Bitcoin markets.
Tariff-Induced Sell-Off Sparks Market Chaos
Cory Klippsten, CEO, Swan Bitcoin: “We’ve got a little panic in the markets right now, classic macro whiplash. Trump and China are trading tariff threats, equities are off, and traders are scrambling to de-risk… If the broader risk-off mood holds, Bitcoin can get dragged around a bit before it finds support and starts to decouple again.”
$8.02 Billion in Crypto Liquidations Recorded
In the past 24 hours, crypto markets saw $8.02 billion in liquidations, with Bitcoin long positions alone accounting for $2.19 billion.
Market participants brace for uncertainty, awaiting stabilization in macro conditions. Historical trends suggest similar events often lead to cascading sell-offs and heightened market sensitivity.
Past Tariff Risks Linked to Bitcoin Volatility
Past tariff announcements have similarly led to sharp sell-offs in Bitcoin, highlighting its sensitivity to macroeconomic risks.
Experts advise caution, noting potential for further volatility. Cory Klippsten emphasizes the need for strong risk management in crypto markets amid current macro challenges.
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