The cryptocurrency market suffered one of its sharpest single-day crashes in years on Saturday in the U.S., erasing billions in value after the U.S. announced new tariffs on Chinese tech imports.
Bitcoin plunged below $110,000, while Ethereum and other major tokens lost over 20% of their value within hours. According to crypto investigator Joshua Duckett, billions were wiped out as leveraged traders were forced to liquidate heavily borrowed positions, triggering a cascade of sell-offs.
Despite the turmoil, Duckett said the market appeared to be stabilizing by Sunday, describing it as a “rebound-to-stable position” and urging investors to remember the golden rule: never invest more than you can afford to lose.
Image credit: Maxim Hopman
