Crypto Flash Crash Wipes Out Over $19 Billion in One Day

Markets were shaken as more than $19 billion worth of leveraged crypto bets were liquidated in the span of 24 hours, according to Bloomberg data. In just the first hour following Donald Trump’s surprise announcement of 100% tariffs on China, over $7 billion of positions were wiped out. Bitcoin dropped sharply, dragging Ethereum, XRP, BNB, and Solana lower as the sell-off intensified. More than 1.6 million traders were liquidated during the crash, making it one of the most severe mass sell-off events in crypto history. Analysts say the event underscores how sensitive the crypto market remains to geopolitical and political moves. Any major shock — especially from U.S. policy — can cascade quickly through digital asset markets. While some see this as a correction in an overheated market, others warn that if volatility continues, it could shake investor confidence further — especially among new entrants who lack strong risk buffers.