Bitcoin Price Analysis: Trump Tariffs Cause Bitcoin and Altcoins to Collapse
Bitcoin and altcoins have dropped 10–30% in the past day due to the Trump tariff effect, causing cryptocurrency market liquidations to rocket over $1 billion.
Key Takeaways:
- As Trump tariffs take effect, the cryptocurrency market fall causes $460 billion in a single day.
- The price of Bitcoin may drop to between $70,000 and $75,000 before rising again, according to analysts.
- Losses for well-known altcoins including Ethereum, XRP, Solana, and Cardano have ranged from 15% to 25%.
- Ethereum is trading close to $2,000, on pace for its worst Q1 performance.
The cryptocurrency market plummeted as Trump’s tariffs on Canada and Mexico went into force on March 4, leading to more than $1.09 billion in liquidations in the previous day. Top altcoins including Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA) have all had declines of 15–25% in the past day, while Bitcoin has dropped more than 10%. This demonstrates that as investors prepare for reality, the excitement around Trump’s US strategic reserves is still fleeting.
Liquidations Soar Amid Crypto Market Crash
About the past 24 hours, the cryptocurrency market cap has lost about $460 billion, making today’s meltdown one of the steepest drops ever recorded. According to data compiled by Coinglass, the total value of crypto liquidations has exceeded $1.09 billion, with Bitcoin alone accounting for nearly $400 million.
A stunning $460 billion was lost in just one day, making this the worst selloff in 2025 for the cryptocurrency market. This amounts to a loss of over $19.1 billion per hour on average over the last day, as pointed out by The Kobeissi Letter.
Is the Bitcoin Price About to Hit $70,000 Once Again?
Bitcoin price briefly rallied to $93,000 following President Trump’s announcement of strategic US crypto reserves on Sunday, but was quickly rejected as Trump tariffs kicked in once again. According to market experts, congressional approval is still required for Trump’s executive order on crypto reserves to be implemented.
Despite a 15% increase to $77 billion in daily trading volumes, the price of bitcoin is down 10.23% at $83,500 levels as of press time. Market watchers in the cryptocurrency space have said that a Bitcoin fall between $70,000 and $75,000 before a full-blown uptrend is possible is not out of the question.
While ex-CEO of BitMEX Arthur Hayes is bullish on Bitcoin’s current bull cycle, he did imply that $70,000 would be the worst-case scenario for BTC’s price.
According to prominent crypto analyst KALEO, “it shouldn’t be surprising if another leg down to the mid 70s for Bitcoin” is possible, given the pattern of recent price action for Bitcoin and other cryptocurrencies (big rise up + full retrace).
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BTCC Guide:
- How to Trade Crypto Futures Contracts on BTCC
- BTCC Guide-How to Deposit Crypto on BTCC?
- What is Crypto Futures Trading – Beginner’s Guide
- What is Leverage in Cryptocurrency? How Can I Trade at 100X Leverage?
- BTCC Review 2024: Best Crypto Futures Exchange
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- How To Buy Pepe Coin (PEPE)
- How To Buy Ripple (XRP)
Crypto Prediction:
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