Trump Tariffs Are Now Slamming Crypto

Bitcoin shed about 7 of its value from Sunday night through to Monday morning in Singapore to reach a low point of US77 077. Second-ranked token ether plummeted to 1 538, an intra-day low not seen since October 2023.

The losses come as US president Donald Trump dug in on sweeping tariffs that have already wiped trillions in value from US equities. US equity-index futures slumped and the yen surged in a sign of deepening turmoil throughout financial markets.

Coinglass data show about 745-million worth of bullish crypto wagers were liquidated in the past 24 hours, the most in nearly six weeks.

Options markets suggest the selling pressure may continue "with the skew for puts picking up considerably", said Sean McNulty, head of Apac derivatives at digital-asset prime brokerage FalconX. Key support levels for bitcoin and ether are 75 000 and 1 500, respectively, he added.