- Trump’s Liberation Day tariffs send shockwaves through financial markets, triggering a $74 billion Bitcoin market cap drop, $2.5 trillion erased from the S&P 500, and $220 million in crypto liquidations
- The Dow Jones futures plunge 1,100 points, while the Nasdaq 100 drops 900 points, marking one of the worst pre-market performances in recent history as investors scramble to reassess risk exposure
- Bitcoin flips bearish after trading at a 2% daily increase, now at a 2.25% deficit, with 153,807 traders liquidated in the past 24 hours, reflecting heightened volatility across digital assets
The cryptocurrency market has instantly reacted to Donald Trump’s “Liberation Day” Tariffs. On this date, the American President presented the nation’s new foreign trade policy, introducing reciprocal tariffs calculated at half the rate of barriers imposed by other nations.
Bitcoin was almost instantly affected by the news. While the asset had been trading at a 2% daily increase before the announcement, $BTC swiftly reverted its upward trend, currently at a 2.25% deficit according to CoinMarketCap.

As of right now, the currency trades at the price of $ 83,311 per coin — a far cry from today’s high of $87,889. Its market cap has also taken a severe hit, collapsing by $74 billion, dropping from $1.744 trillion to $1.67 trillion in less than an hour after the “Liberation Day” review.

U.S. Stock Market Crashing
The fallout from President Trump’s Liberation Day tariffs has sent shockwaves through financial markets, triggering a massive sell-off across major U.S. stock indices.
The Dow Jones Industrial Average futures have nosedived 1,100 points, signaling a brutal opening for the market. Investors are scrambling to reassess risk exposure as uncertainty surrounding trade policies deepens.
Meanwhile, the tech-heavy Nasdaq 100 is on track to open 900 points lower, marking one of its worst pre-market performances in recent history. Major tech stocks—including Tesla, Nvidia, and Apple—are leading the downturn.
BREAKING: Losses in US stock market futures are accelerating with the Nasdaq 100 now on track to open -900 POINTS lower.
— The Kobeissi Letter (@KobeissiLetter) April 2, 2025
The S&P 500 has erased -$2.5 trillion in market cap in 2 hours. pic.twitter.com/upy31ZUOOA
Also, the S&P 500 has erased a staggering $2.5 trillion in market cap within just two hours, reflecting widespread panic among investors. The index is now deep in correction territory, with losses accelerating as fears of economic instability mount.
Cryptocurrency Market Sees $220 Million in Liquidations
Bitcoin alone has accounted for $92.24 million in liquidations, making it the most affected asset in this downturn. Ethereum follows closely behind, with $34.96 million in liquidations, while other major cryptocurrencies—including Solana (SOL), XRP, and Dogecoin (DOGE)—have also seen significant losses.

Across the broader market, 153,807 traders have been liquidated in the past 24 hours, with total liquidations reaching $439.34 million according to CoinGlass. The largest single liquidation order occurred on Bybit, where a $5 million BTCUSD position was wiped out.
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