The crypto markets continue to decline on Monday, with Bitcoin (BTC) falling below $78,000. The Asian markets also traded in the red, with Japan’s stock market extending losses to 8.5%, its lowest level since October 2023. The Coinglass liquidation heatmap chart shows over $1 billion in liquidation in the last 24 hours. This massive loss in market value reflects a broader sell-off triggered by the US-China trade war and post-US President Donald Trump’s tariff announcement last week, naturally dragging down crypto and Asian markets.
Crypto and Asian markets slide into the red amid escalating trade war
The crypto markets continued to trade in the red on Monday, with Bitcoin falling below $78,000 during the early Asian trading session. According to CoinGecko data shown in the graph, the top 10 cryptocurrencies are also red.
According to the Kobeissi report on Monday, the Asian market followed this downward trend. Japan’s stock market has extended losses to 8.5%, its lowest level since October 2023.
The report further explains that Global stocks have erased over $20 trillion since February 19, mostly fueled by tariff uncertainty and the trade war.
including a 10% tariff on all imports and additional punitive taxes on about 60 countries. This announcement has sparked a global trade war, with China retaliating by imposing a 34% levy on US goods. Japan, heavily reliant on exports (especially to the US and China), is caught in the crossfire.
This massive loss in market value reflects a broader sell-off triggered by the US-China trade war, which began after US President Donald Trump’s tariff announcement last week. The trade war is naturally dragging down Asian markets.
