Bitcoin plummeted from $83,000 to $74,000 overnight in a dramatic sell-off that wiped over $1.36 billion from digital asset markets, according to data from Coinglass.

The market crisis unfolded after U.S. President Donald Trump imposed trade tariffs as part of his trade war strategy. Over 441,000 traders faced liquidation within 24 hours as long positions lost $1.21 billion.

The market witnessed massive long-side losses with Bitcoin losing $401.31 million and Ethereum $341.82 million in assets during the recent liquidations. Bitfinex”s BTC perpetual contract experienced the biggest market wipeout worth $16.38 million.

Bitcoin Retraces 2025 Gains After Tariff Shock

Most liquidations on the market went to Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Dogecoin (DOGE), with each asset losing a double-digit amount in value during the 24-hour period. Major selling took place on Bitcoin and Ethereum yet impact hit all altcoins during their price drop.

Markets worldwide experienced extreme market movement when the correction took place. The S&P 500 Futures Index ER dropped 10% as a two-day string of loss events totaled more than 4%. This represented one of the fastest simultaneous declines in the index”s history.

Bitcoin lost 10.25% of value and Ethereum fell by almost 20% during the previous day. Apart from BTC changes, XRP, SOL and DOGE maintained notable decreases when market participants became cautious about risks.

Bitcoin Crashes $9K Overnight Amid Tariff Shock

Bitcoin lost most of its 2025 gains after this fast decision was made. The price of cryptocurrency originally increased beyond $109,000 in January after Trump”s reelection.

Experts see the market downfall as lasting longer than just a brief readjustment. A market strategist observes that Bitcoin maintains strong defense at $73,000 throughout its present market rally. The quick rise of new tariffs outpaced technical analysis models because it was a rare unexpected development.

Global markets show a double movement by re-evaluating crypto and stocks as risk rises during political tensions. Investors will carefully observe Bitcoin price as the tariff impact unfolds.