Crypto crash: $150 billion wiped out in 24 hours

Rising tensions between China and the US sink Bitcoin and Ether. Nervous markets and investors pulling out.

The cryptocurrency market suffered a sharp drop within just 24 hours, losing over $150 billion in total market value. Leading the plunge were Bitcoin, which fell as much as 4% to $111,200, and Ether, which dropped 7.8% below the $4,000 mark. Smaller and more volatile tokens saw even steeper declines.

The crash was triggered by renewed tensions between the United States and China. After former US President Donald Trump threatened new tariffs in response to Chinese export controls, Beijing retaliated by targeting companies linked to the US. The uncertainty spooked investors, sparking a broad selloff in riskier assets—including digital tokens.

Roughly $19 billion in leveraged crypto positions were liquidated over the weekend, causing a chain reaction across the market. Asian and European stock markets also suffered losses. On Monday alone, $756 million was pulled from US-based Bitcoin and Ether ETFs, highlighting growing investor anxiety.

Analysts warn that if Bitcoin falls below $110,000, it could test a lower support range between $104,000 and $108,000. For now, the market appears to be entering a consolidation phase—marked by lower risk appetite and cautious sentiment.

Public companies holding large crypto reserves are also feeling the heat. Japan’s Metaplanet, for example, saw its enterprise value drop below the value of its Bitcoin holdings for the first time, with shares falling 12% to a five-month low in Tokyo.