Bitcoin’s sharp downturn continues as mounting U.S.–China trade tensions send ripples through the crypto market. The world’s largest cryptocurrency plunged over 5% in the past 24 hours, hitting $103,300 — its lowest price since July.

Data from CoinMarketCap shows $BTC was trading near $112,000 earlier this week before the latest sell-off. Ethereum also dropped nearly 9% to $3,600, while major altcoins like $BNB (-11%), Solana, $XRP , and Dogecoin each recorded steep declines.

💥 $1.18 Billion in Liquidations

According to Coinglass, more than $1.18 billion in leveraged positions were wiped out in the past day, with $917 million of that coming from long traders — marking one of the largest single-day liquidations since August.

This latest correction follows renewed tariff threats from President Trump, who hinted at 100% import duties on Chinese goods, sparking fears of a deeper global economic rift and driving investors away from risk assets.

📉 Institutional Outflows Deepen Losses

Investor sentiment is cooling across U.S. spot Bitcoin and Ethereum ETFs, which saw over $600 million in total outflows, per SoSoValue data.

ARKB led withdrawals with $275 million,

Fidelity’s FBTC saw $132 million,

Grayscale’s GBTC and Mini BTC lost $67 million combined,

BlackRock’s IBIT recorded $29 million in redemptions.

💬 Analysts Caution More Volatility Ahead

Analysts at Bitfinex note that markets are highly reactive to macro shocks. “Any further weakness in equities could spill over into crypto, tightening liquidity and pressuring leveraged positions,” they said.

📊 Outlook:

While Bitcoin’s fundamentals remain strong, short-term sentiment has turned bearish amid rising geopolitical uncertainty and institutional outflows.

Analysts believe that if this pullback deepens, it may set the stage for a stronger and healthier recovery once market conditions stabilize.

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