LTC Among Major Cryptos Hit Hard as $1 Billion in Liquidations Sparks Market Turmoil
The cryptocurrency market faced a brutal weekend sell-off, with over $1 billion in positions liquidated across major exchanges. Litecoin (LTC), Bitcoin (BTC), Ethereum (ETH), and other top assets saw steep declines as the total crypto market cap plunged 10.5% to $2.5 trillion. Analysts point to macroeconomic uncertainty—including potential Trump-era tariffs—as a key driver of the volatility, drawing parallels to historic market crashes.
Massive Crypto Liquidations: Over $1 Billion Wiped Out in Weekend Sell-Off
Over $1 billion in crypto positions, including those in BTC, ETH, LTC, and other major coins, were liquidated over the weekend, with long trades taking the biggest hit. The total crypto market cap drops by more than 10.5%, falling to $2.5 trillion amid widespread sell-offs on exchanges like bybit, mexc, coinbase, and others. Analysts blame uncertainty over Trump’s proposed tariffs, drawing comparisons to the 1987 Black Monday crash. Following the bloodbath, April 7 has been labeled as crypto black Monday.
Black Monday 2025: Crypto Market Crash Overview
Stock and crypto markets crashed on Apr. 7, 2025, earning the day the moniker Black Monday. This crash is reminiscent of previous market disasters like Black Thursday of 2020 and Black Monday of 1987. The Trump Administration’s trade war and tariffs on numerous countries on Apr. 2, 2025, led to market instability, which culminated in a significant downturn on April 7. Experts warn of a possible recession. The crypto market downfall was severe, with many major coins, including BTC, ETH, LTC, and XRP, experiencing significant losses. It’s unclear how long it will take for the market to recover, but history suggests that it could take some time. Keep an eye on exchanges like Bybit, MEXC, Coinbase, Bitget, BingX, Binance, Upbit, and FTX for the latest updates and trends.
Beyond Trump’s Tariff War, Fake Rumors Trigger $100B Crypto Wipeout
Trump’s tariffs caused the worst market plunge since early COVID, but crypto showed surprising resilience compared to stocks. China retaliated with tariffs, Trump threatened more, and rumors caused a $100B crypto market wipeout on April 7th. Markets, especially crypto, are highly susceptible to news and rumors amid tariff uncertainty, despite “decoupling” beliefs. Market observers have collectively agreed that this was the worst plunge in crypto values since the opening months of COVID-19 in 2020. On April 7th, volatile prices were fueled by false rumors impacting various cryptocurrencies including BTC, ETH, LTC, and others.
