Today, the cryptocurrency market experienced a major crash triggered primarily by the announcement of 100% tariffs on Chinese tech imports by U.S. President Donald Trump, escalating trade tensions. This caused a global risk-off sentiment that affected both equities and crypto markets, with Bitcoin dropping significantly—around 7.24% in the last 24 hours and falling from intraday highs above $122,000 to lows around $105,000 before rebounding slightly to near $112,500. Ethereum, Binance Coin, and XRP similarly saw steep declines, with ETH down over 12%, BNB nearly 10%, and XRP over 13%. The crash led to wide liquidation of crypto leveraged positions, totaling over $19 billion within 24 hours, which far exceeded previous crash liquidations such as those seen during the FTX collapse and the COVID-19 crash. The market plunge was amplified by trading algorithms, panic selling, and thin order books, driving intense volatility. Nonetheless, some institutions appear to be quietly accumulating at these lower prices despite the widespread retail panic. Bitcoin remains above its 200-day moving average, suggesting the overall bull run remains intact despite this correction. However, short-term market sentiment is cautious, and more downward price pressure could follow as the macroeconomic factors play out. The total crypto market capitalization dropped roughly $200 billion before a slight recovery, settling around $3.83 trillion today. In summary, today's crypto market crash is largely a reflection of broader geopolitical and macroeconomic shocks rather than internal crypto-specific issues, with significant liquidations and volatility marking a sharp but potentially strategic buying opportunity for longer-term investors.