Bitcoin Leads Crypto Price Correction as US-China Tariff News Triggers $521 Million in Liquidations

• Crypto market sees price correction as US-China tariff news sends BTC below $101K; $521M liquidated
• Bitcoin recovers to $102K, ETH to $2.45K; altcoins XRP, BNB, SOL also bounce off support levels
• Fear & Greed Index at 71 (Greed) signals bullish appetite persists despite market pullback

The cryptocurrency market, led by Bitcoin, experienced a slight correction on Monday, May 12. Although analysts predicted a pullback after the latest price surge, tariff news out of the US triggered the correction, which saw BTC drop below $101,000 after briefly climbing above $105,000 on the same day.

Market Overview

Crypto market corrected, with $521M in long positions liquidated, while the $SPX moved higher following news that the U.S. and China had agreed to a 90-day tariff reduction.

Market Cap: $3.45T
24h Liquidation: $721.0M
Fear & Greed Index: 70 (Greed)

Latest… pic.twitter.com/2q8M81Vr2l

— CryptoRank.io (@CryptoRank_io) May 13, 2025

On Monday, the US government announced it had agreed to a 90-day tariff reduction with China. This news, paradoxically, led to a swift crypto market correction, with a significant $521 million in long positions liquidated. 

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