Takeaways:
- •The $BTC/$USDT futures trading pair on Binance crashed to $102K last night, its lowest since late June, triggered by Donald Trump’s 100% tariff announcement on China.
- •This caused widespread panic and led to heavy liquidations in the market (Bitcoin led with over $5B and Ethereum with over $4B). In total, over $9B in liquidations for the two biggest cryptos.
- •While the market crash reignited recession fears and triggered massive sell‑offs, the $PEPENODE presale has soaring — raising $1.7 million so far.
Last night, the world woke up to witness the largest one‑day crash in crypto history, with more than $19B in total crypto liquidations over the last 24 hours. A staggering 1.6 M traders were liquidated, with investors losing up to $670 B amid CEX‑driven auto liquidations during the crash.
The last time the market crashed this badly was in May 2021, resulting in $8.6 B in leveraged positions in a single day.
The crypto world’s alpha, Bitcoin, plunged to $103K. The bloodbath didn’t spare altcoins either; many of them crashed by up to 90 %, as panic swept through the entire market.
So what set the market on fire yesterday?
Well, Trump went on another one of his tariff sprees and announced a sweeping 100% tariff on Chinese imports on Friday. This is the president responding to China’s threat to impose export restrictions on rare earth minerals, effective November 1st.
Well, China’s export restrictions would have serious repercussions for America, considering the country’s heavy reliance on rare earth minerals to build semiconductors for its AI systems, high‑performance computers, and cryptocurrency mining rigs.
Trump condemned China’s restriction as ‘extremely hostile,’ and responded with a 100 % tariff announcement, reigniting global fears of a potential Trade War 2.0.
While Trump is out on a limb, Bitcoin’s market reaction yesterday broke the hearts of millions of investors. $BTC’s futures pair ($BTC/USDT) on Binance fell to $102K, and the spot price plunged to $103K, a sharp decline from its high last week.
With $9.4B liquidated in crypto positions in the last 24 hours, $7.15B of that was long positions, implying traders who bet on price increases got wiped out.
Altcoins didn’t escape the market’s wrath either – $ETH dropped to $3,510 (a 7.45 % decrease) and $SOL fell below $173, with analysts calling the fallout a ‘total leverage flush‑out event’.
As China and America lock horns in a high‑stakes economic and tech showdown, the cryptocurrency market finds itself caught in the crossfire, with investors taking the hit. In light of these macroeconomic uncertainties, analysts fear a short‑term bearish phase.
That said, there might still be a flicker of hope. CoinMarketData shows that the market is in full recovery, with blue‑chip cryptos like Bitcoin, Ethereum, and Solana showing recovery alongside meme coins like Dogecoin and Shiba Inu.
As memecoins are carving out a niche of optimism, one standout is PEPENODE ($PEPENODE), a utility‑driven meme coin built around community engagement and juicy passive rewards.
PEPENODE’s presale is soaring, proving that even in a shaken market, opportunity always favors the bold.
$PEPENODE: The Utility‑Driven Meme Coin Turning Market Chaos into Opportunity
Emerging as the hottest new contender in the $57 B meme coin sector is PEPENODE ($PEPENODE), one of the most creative innovations this year. The crypto merges virtual mining with GameFi mechanics and lures investors with its multilayered reward structure.
While mining in general requires an expensive setup and labor‑intensive operations, $PEPENODE presents you with a gamified virtual mining system that maximizes rewards with little technical requirements.
Its simulated environment allows you to engage in interactive gameplay while earning attractive rewards in $PEPENODE, $FARTCOIN, and $PEPE tokens. Fun part – PEPENODE’s interesting build allows you to try different node combinations, upgrade your facilities, and climb up leaderboards using more hash power, letting you tweak the game as you move ahead.
The gamified mine‑to‑earn meme coin, now in presale, is shining bright as the project has raised $1.7 M so far. Whales are loading their bags with $PEPENODE worth $94.1K and $18.2K, reflecting the growing conviction in the project. Here’s how to buy PEPENODE now.
At today’s rate of $0.0010962, and dynamic staking APY at 718 %, early adopters could stand to gain up to 8.19× returns in one year. That kind of return shines like a beacon in a sea of losses, especially amid the current bearish phase.
Start stacking $PEPENODE today — join the presale before it’s gone.