Bitcoin Falls 2.6% to $114k on U.S. Tariffs, $630M Liquidated
Bitcoin price dipped 2.6% to $114,250, hitting a three-week low after U.S. President Trump’s executive order raised trade tariffs on key partners. The move triggered a broad crypto sell-off and amplified market volatility.
In the 24 hours leading up to the tariff deadline, over 158,000 long positions worth $630 million were liquidated, and spot crypto markets saw $110 billion in outflows. Despite the fall, Bitcoin’s July monthly candle closed at a record $115,784, indicating resilient momentum.
Analysts view the drop as a temporary correction driven by tariff fears, profit-taking and geopolitical uncertainty. They advise traders to monitor ongoing U.S.–China trade negotiations and key support near $111,000 to gauge price direction.
Bearish
The U.S. tariff order triggered a risk-off response, leading to profit-taking and the forced liquidation of over $630 million in long Bitcoin positions, which immediately pressured the market. Spot outflows of $110 billion further underscore reduced trader confidence and heightened volatility. In the short term, Bitcoin price is likely to remain under pressure as traders watch the $111,000 support level and progress in U.S.–China trade talks. However, should geopolitical tensions ease and negotiations advance, Bitcoin’s long-term fundamentals could regain strength, potentially reversing the current sell-off.