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On May 23, 2025, over $300 million in crypto positions were liquidated in just four hours, mostly from long positions, after former U.S. President Donald Trump announced a 25% tariff on iPhones made outside the U.S. and a 50% tariff on goods from the EU.
Bitcoin dropped 3% to around $108,700, while Ethereum fell nearly 4% to about $2,555. Altcoins like XRP, ADA, and DOGE also saw losses of 3–4%.
Bitcoin accounted for $107 million in liquidations, and Ethereum nearly $87 million. A notable trader, James Wynn, opened a $1.1 billion BTC long position and is currently facing an unrealized loss of $7.5 million.
The event highlights the crypto market’s sensitivity to geopolitical and economic policy risks, especially amid high leverage conditions. 0 reply
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