Bitcoin rebounded above $115,000 on Monday after the largest single-day liquidation in cryptocurrency history, wiping out nearly $19 billion in positions, driven by a renewed escalation in trade tensions between the United States and China.
The world's largest cryptocurrency rose 3.1% to $115,107.6000 at 09:32 AM Saudi time.
Bitcoin fell to $103,893.30 on Friday after surpassing $122,000 the same day. It had reached a record high of over $126,000 the previous week.
Trump's new tariff threats have sparked a massive selloff in cryptocurrencies.
The sell-off came after US President Donald Trump announced on Friday plans to impose tariffs of up to 100% on Chinese goods, along with stricter controls on the export of key technologies.
The move shook global markets, prompting investors to exit high-risk assets and triggering a wave of forced liquidations in highly leveraged cryptocurrency positions.
More than $19 billion in long positions were liquidated across major exchanges over a 24-hour period, in what data providers described as the largest single-day liquidation event ever.
More than 1.6 million trading accounts were closed as a series of stop-loss orders and margin calls accelerated, according to reports.
Exchanges including Binance, Bybit, and Hyperliquid recorded some of their highest single-day liquidation volumes ever. Other tokens with large market caps also declined sharply, mirroring the decline in Bitcoin.
Beijing responded to Trump's tariff threat by saying it was not afraid of a trade war and vowing to implement countermeasures if necessary.
Trump struck a more conciliatory tone over the weekend, telling markets not to worry about China and indicating that no immediate escalation was planned. The softer tone helped calm sentiment somewhat, but traders remained cautious about unexpected policy shifts.
The sharp volatility in a single day following the announcement highlights how closely cryptocurrency markets are linked to macroeconomic developments and geopolitical risks.
Once considered separate from traditional markets, Bitcoin and other digital assets increasingly behave like high-risk assets, reacting quickly to global shocks and cross-asset flows.
Cryptocurrency Prices Today: Altcoins Rebound After Sharp Sell-Off
Most altcoins traded sharply higher on Monday after a sell-off severely impacted prices.
Ethereum, the world's second-largest cryptocurrency, jumped 9% to $4,167.3600 after falling below $4,000 over the weekend.
XRP, the world's third-largest cryptocurrency, rose 8.5% to $2.5900.
Solana gained 7.7%, Cardano added 9%, and Polygon rose 5.7%.
Among meme coins, Dogecoin rose by more than 10%, while $TRUMP rebounded by 5.2%.
