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Crypto Liquidations Hit $1.09B as Trump Tariffs Rattle Markets

Arslan Butt•Tuesday, March 4, 2025•1 min read

The cryptocurrency market crash as Trump’s Mexico and Canada tariffs kick in on March 4 with over $1.09 billion in liquidations in 24 hours.

Bitcoin (BTC) down 10%+, major altcoins (ETH, XRP, SOL, ADA) 15-25% down. $460 billion wiped off global crypto market cap, one of the biggest daily drops of 2025.

  • Total market cap loss: $460 billion

  • Bitcoin liquidations: $400 million+

  • Altcoin declines: ETH, SOL, XRP, ADA down 15-25%

Despite the recent optimism on Trump’s crypto reserve, the market is telling us broader economy and trade policies are in play.

Bitcoin Below $85K, Could Fall to $70K?

After Trump’s March 2 announcement of a U.S. strategic crypto reserve, Bitcoin briefly reached $93,000 before getting rejected. Now at $83,500 (down 10.23%), Bitcoin’s daily trading volume is up 15% to $77 billion.

Analysts think Bitcoin will retest before breaking out:

  • Arthur Hayes (Former BitMEX CEO): BTC’s worst case scenario is at $70,000 (previous cycle high).

  • KALEO (Crypto Analyst): Another leg down to mid-$70K wouldn’t be surprising.

  • Key support: $75,000, $70,000

Despite short term volatility, analysts are bullish on Bitcoin’s long term, citing institutional interest and macroeconomics.

Altcoins Face Worst Q1 Performance in History

While Bitcoin’s decline has been steep, altcoins have suffered even more, with Ethereum (ETH) falling to $2,000—putting it on track for its worst first-quarter performance ever.

  • Ethereum (ETH): Dropped to $2,000

  • Solana (SOL), XRP, and Cardano (ADA): Lost 20-30% in a month

  • Market sentiment: Near rock-bottom for an altseason

Veteran trader Michael van de Poppe advised investors to remain patient, warning against panic selling. Given the current climate, many analysts expect a gradual recovery rather than a rapid rebound.

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ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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