Black Friday came early this year...
It started when China weaponized its rare earth exports.
Hours later, Trump hit back with a yuge 100% tariff on all Chinese goods.
Markets panicked and $BTC crashed $20K within minutes, dragging the entire market down with it.
$USDe depegged to as low as $0.62, $ATOM nearly went to zero, $ENA dropped by nearly 80%, and $SOL dropped 40%.
This chaos led to over $19B in leverage being wiped out as exchanges triggered Auto Deleveraging, meaning traders who were also in profit got their positions wiped out...
The result? One of the most violent days crypto has seen.
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