Bitcoin fell under $ 112,000 during trading Tuesday afternoon Hong Kong time when China’s retaliatory measures sent a fresh wave of risk mood across global markets.
Bloomberg reported earlier Tuesday that China sanctioned US units of South Korean shipbuilder Hanwha Ocean in a step that resumed fears that the trade conflict with Washington could spiral, just days after both sides signaled restraint.
Shares in Asia tumbled, Equity Futures in the US and Europe followed, and crypto traders were again forced to reject after a short weekend jump.
Contracts tied to the S&P 500 dropped 0.7%, Nasdaq 100 futures lost 1%, and Japan’s Nikkei fell more than 3%, marking its worst session in almost two months.
Yen turned losses and strengthened against the dollar. Gold and silver deleted both previous winnings in heavy afternoon sales, while the 10-year-old treasury eased to almost 4.03%when investors moved to safety.
Crypto is traced again risk. Bitcoin dropped 3% to $ 111,869, Ethereum fell 4% to about $ 4,000 and BNB slipped more than 10% after surpassing last week. XRP, Solana and Dogecoin all fell between 5% and 6% in the last 24 hours.
The total liquidations hit $ 630 million, with long positions that make up two -thirds of the wiped out, according to Coinglass.
The correction is expanding an unstable stretch that began with US President Donald Trump’s 100% tariff threat on Chinese imports last week-a shock that triggered Crypto’s biggest liquidation event ever.
Nearly $ 20 billion in positions was deleted across derivative markets of 24 hours per day. Hyperliquid data, before a brief rebound this weekend.
The latest slide continues to show how close crypto remains linked to the global macro -risk, with a former jump from Sunday almost recurring fully.
