Bitcoin Rebounds Above $115K After Record $19B Crypto Crash
Bitcoin surged back above $115,000 on Monday, recovering from one of the largest single-day liquidations in crypto history, where nearly $19 billion in leveraged positions were wiped out amid renewed U.S.-China trade tensions.
The world’s biggest cryptocurrency climbed 3.1% to $115,107.60 as of 02:32 ET (06:32 GMT), after plunging to $103,893.30 on Friday. Earlier that same day, Bitcoin had traded above $122,000, just shy of its record high of $126,000 set last week.
Trump Tariffs Trigger Historic Liquidation
The selloff began after U.S. President Donald Trump announced new tariffs of up to 100% on Chinese imports and tighter export controls on critical technologies. The move rattled global markets, prompting investors to dump risk assets and sparking mass liquidations in heavily leveraged crypto trades.
Data from major exchanges showed that more than $19 billion in long positions were liquidated within 24 hours — the largest one-day crypto wipeout on record. Over 1.6 million trading accounts were forced to close as stop-loss orders and margin calls intensified the downturn.
Exchanges such as Binance, Bybit, and Hyperliquid recorded their highest-ever daily liquidation volumes. Most large-cap altcoins also tumbled in tandem with Bitcoin.
Beijing responded to Trump’s announcement by saying it was “not afraid” of a trade war and threatened countermeasures if necessary. However, over the weekend, Trump softened his stance, assuring markets to “not worry about China.” The shift helped stabilize sentiment, though traders remained wary of further policy surprises.
The volatility underscored how closely crypto markets are now linked to macroeconomic events and geopolitical risks. Once viewed as independent from traditional finance, Bitcoin and other digital assets increasingly behave like risk-sensitive assets, reacting to global shocks and capital flows.
Altcoins Bounce Back After Weekend Sell-Off
The broader crypto market recovered alongside Bitcoin on Monday.
- Ethereum (ETH) rose 9% to $4,167.36, after dipping below $4,000 over the weekend.
- XRP climbed 8.5% to $2.59, while Solana gained 7.7%.
- Cardano added 9%, and Polygon (MATIC) rose 5.7%.
- Among meme coins, Dogecoin jumped over 10%, and $TRUMP token rebounded 5.2%.
