Market updates
Bitcoin Drops Below $84K as Trump Announces EU Tariffs
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2025-02-27 | 5m
Bitcoin and the stock market dropped sharply on Wednesday after U.S. President Donald Trump announced plans for a 25% tariff on European Union imports. Bitcoin fell below $84,000, losing over 5% in 24 hours, while the S&P 500 also hit its session low. The broader cryptocurrency market, represented by the CoinDesk20 index, declined by 2.3%. Trump confirmed the tariff decision during his first cabinet meeting, stating that an official announcement would come soon. The news shook market confidence, disrupting hopes that the recent downturn had reached its bottom. Investors reacted with caution, as new tariffs could increase economic uncertainty.
Source:
CoinDesk
Futures Market Updates
In the past 24 hours, both BTC and ETH futures saw a decline in open interest (-6.72% and -5.17%, respectively), indicating a reduction in leveraged positions. Trading volume also dropped for both, with BTC down 2.92% and ETH down 6.51%, suggesting lower market activity. Liquidations were significantly higher for BTC ($391.40M long vs. $69.99M short) compared to ETH ($101.66M long vs. $25.75M short), reflecting stronger sell-offs in BTC. The long/short ratios remained similar, with slightly more short positions in both markets. BTC had a lower funding rate (0.0035%) than ETH (0.0074%).
BTC Futures Updates
Total BTC Open Interest: $53.51B (-6.72%)
BTC Volume (24H): $153.05B (-2.92%)
BTC Liquidations (24H): $391.40M (Long)/$69.99M (Short)
Long/Short Ratio: 48.47%/51.53%
Funding Rate: 0.0035%
ETH Futures Updates
Total ETH Open Interest: $20.68B (-5.17%)
ETH Volume (24H): $58.53B (-6.51%)
ETH Liquidations (24H): $101.66M (Long)/$25.75M (Short)
Long/Short Ratio: 48.51%/51.49%
Funding Rate: 0.0074%
Top 3 OI Surges
SAFE: $15.88M (+291.72%)
CARV: $10.00M (+192.75%)
ALCH: $69.77M (+87.86%)
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