$BTC plunged below $93,000, wiping out $1.23 billion in liquidations as the crypto market faced extreme turbulence. The drop followed the latest escalation in Trump’s trade war, which introduced new tariffs on China, Canada, and Mexico, rattling global markets. Investors dumped riskier assets like $BTC, triggering an 8% slide overnight.

Asia’s reaction to the tariffs played a significant role in intensifying sell-offs, with traders waking up to escalating tensions and repositioning their portfolios. While the immediate impact saw Bitcoin spiraling lower, some analysts argue this geopolitical chaos could bolster Bitcoin’s role as a hedge against traditional market instability.

It's reported that $BTC might rebound as a "safe-haven asset" if trade wars weaken fiat currencies like the U.S. dollar. However, the short-term volatility remains a critical concern. As global tensions rise, $BTC's price movements will likely stay tethered to macroeconomic developments and investor sentiment. Show Less