Crypto liquidations continued their rout early morning Asia hours after the broader crypto market continued its plunge hours after U.S. President Donald Trump threatened 100% tariffs on Chinese imports via a Truth Social post, which triggered a global risk-off wave and wiped out more than $16 billion in longs by midday Hong Kong time.

Trader anxiety that a cooling trade war was about to re-ignite sent a macro shock rippling through crypto, triggering one of the largest long declines in prices of BTC, ETH and other digital assets seen all year.

Bitcoin recovered to $113,294 and Ether to $3,844 as the CoinDesk 20 Index slid 12.1%. The world's largest cryptocurrency had fallen below $110,000 briefly, marking a 10% decline over the past 24 hours

Crypto's total market cap dropped to $3.87 tr

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