Bitcoin Price Drop Triggers Over $500 Million in Liquidations Across Crypto Markets

Bitcoin's price drop below $65,000 on Monday triggered over $500 million in liquidations across crypto markets, according to CoinGlass data. The move was attributed to policy uncertainty and rising geopolitical tensions.

The U.S. Supreme Court's ruling on Friday that President Trump's tariffs are illegal led to a backlash from the President, who subsequently imposed a 10% global tariff. This backdrop of policy instability weighed heavily on sentiment heading into the week.

A senior researcher at HashKey Group noted that any bounces in the near term are likely to be technical recoveries rather than a new trend. The researcher pointed out that traditional risk assets remained under pressure, making it unlikely for crypto to rally independently.