BTC Crashes Below $92K as Liquidations Surge Toward $900M on US–EU Trade War Escalation

The anticipated volatility due to the latest developments on the US-EU trade war finally arrived in crypto as BTC, alongside all altcoins, plunged hard as Asian and some futures markets opened.

Somewhat expected, the liquidations are on the rise, with over $870 million wrecked in the past 24 hours. Naturally, longs are responsible for the lion’s share (nearly $790 million). The total number of liquidated traders has skyrocketed to just shy of 250,000, according to data from CoinGlass.