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Crypto Bulls Lose $500M as Bitcoin Hovers Around $108K After Trump’s Tariff Threats

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Crypto Bulls Lose $500M as Bitcoin Hovers Around $108K After Trump’s Tariff Threats U.S. President Donald Trump threatened a 50% tariff on all European Union imports and a 25% levy on imported Apple iPhones late Friday, sending markets tumbling. By Shaurya

Published 8 months ago in 5th June 2025

Crypto Bulls Lose $500M as Bitcoin Hovers Around $108K After Trump’s Tariff Threats

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Crypto Bulls Lose $500M as Bitcoin Hovers Around $108K After Trump’s Tariff Threats

U.S. President Donald Trump threatened a 50% tariff on all European Union imports and a 25% levy on imported Apple iPhones late Friday, sending markets tumbling.

By Shaurya Malwa

Updated May 27, 2025, 2:16 p.m. Published May 24, 2025, 7:03 a.m.

What to know:

Bullish crypto bets lost over $500 million as markets reacted to President Trump’s tariff threats.
Bitcoin’s price dropped sharply, leading to significant losses across the crypto market, including ether, Solana, XRP, and dogecoin.
The largest single liquidation was a $9.53 million BTC-USDT swap on OKX, highlighting market volatility and potential turning points.

Bullish crypto bets lost over $500 million in the past 24 hours as traders took profits and markets slid following President Donald Trump’s fresh threats of tariffs on European imports and Apple products, sparking a wave of liquidations.

STORY CONTINUES BELOW

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Bitcoin, which had been trading above $111,000, dropped quickly to around $108,600, wiping out intraday gains and rattling broader market sentiment.

BTC’s drop was mirrored across the crypto complex, with futures tracking ether (ETH), Solana’s SOL, xrp (XRP) and dogecoin (DOGE) showing losses from $30 million to over $100 million.

Bitcoin futures saw roughly $181 million in losses, while Ether futures accounted for nearly $142 million. Altcoins added another $100 million in liquidations, including notable wipeouts in SOL, DOGE, and XRP.

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The largest single liquidation was a $9.53 million BTC-USDT swap on OKX, CoinGlass data shows.

A liquidation occurs when an exchange forcefully closes a trader’s leveraged position due to the trader’s inability to meet the margin requirements.

Large-scale liquidations can indicate market extremes, like panic selling or buying. A cascade of liquidations might suggest a market turning point, where a price reversal could be imminent due to an overreaction in market sentiment.

The pullback arrived just as bitcoin was gaining momentum on ETF inflows and growing institutional interest, leading some to expect a calm weekend.

Instead, volatility returned in full force. With the macro environment now destabilized by renewed trade war fears, traders may remain cautious heading into next week’s sessions.

Shaurya Malwa

Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.

Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.

He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.

Shaurya Malwa

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Orléans community grapples with closure of EarlyON playgroup

The Charlemagne EarlyON Child and Family Centre is the second such facility operated by the Ottawa Catholic School Board in Orléans to close since September.

By Natasha Baldin

Published Nov 20, 2025

Last updated Nov 24, 2025

3 minute read

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St. Peter High School. — The Charlemagne EarlyON Child and Family Centre, operating out of St. Peter Catholic High School, has announced it will shut its doors on Nov. 30. Photo by JEAN LEVAC /POSTMEDIA

With a long-running Orléans playgroup set to close at the end of November, many families are worried about a growing gap in free early-learning programs in Ottawa’s east end.

The Charlemagne EarlyON Child and Family Centre, which operates out of St. Peter Catholic High School, has announced it will shut its doors on Nov. 30. The free drop-in playgroup offers learning programs for children up to six years old.

Story continues below

For Dominique Patnaik, who has attended the play group for three years with her two daughters, the closure comes as an unexpected blow.

“Everybody felt it because it is such a big part of our weekly lives, and it’s provided us with so much … that we all feel like there’s going to be a hole in our lives when the centre closes,” Patnaik said.

The Ottawa Catholic School Board said it made the decision to close the EarlyON program after determining the space was needed for classrooms to support enrolment growth at the high school.

“Families have shared how meaningful this program has been for their children and for their sense of community, and we recognize the worry this has created for those who use the centre,” the school board wrote in a statement.

The Charlemagne centre is the second OCSB-operated EarlyON facility in Orléans to close in recent months. Another program at Divine Infant Elementary School shut down in September.

Until now, Orléans centres offered as many as 57 hours of weekly English or bilingual playgroup sessions. With the closures of the two sites, parents estimate this will drop to just 15 hours weekly.

Story continues below

“We’re very concerned that there will be no alternative for a lot of parents and young children to go to different playgroups,” said Claudie Larouche, a parent who is helping organize efforts to try to save the Charlemagne playgroup.

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Story continues below

More than 1,100 people have signed a petition urging the City of Ottawa and the Catholic school board to preserve the playgroup, if not in its current location, then in a suitable space nearby.

Pressure on remaining playgroups is expected to intensify. While another EarlyON centre remains open nearby on Centrum Boulevard, Patnaik said demand was already greater than capacity, with parents lining up outside before programs begin.

Larouche added the remaining sites may also be less accessible for families who rely on public transit.

For many families, the Charlemagne EarlyON played an especially vital role because of its supportive staff, daily drop-in schedule and baby class offerings.

Twylla Hodgins said Charlemagne centre staff gave her the resources to seek support from a speech-language specialist for her granddaughter.

With a long-running Orléans playgroup set to close at the end of November, many families are worried about a growing gap in free early-learning programs in Ottawa’s east end.

Story continues below

For Dominique Patnaik, who has attended the play group for three years with her two daughters, the closure comes as an unexpected blow.

The Ottawa Catholic School Board said it made the decision to close the EarlyON program after determining the space was needed for classrooms to support enrolment growth at the high school.

The Charlemagne centre is the second OCSB-operated EarlyON facility in Orléans to close in recent months. Another program at Divine Infant Elementary School shut down in September.

Until now, Orléans centres offered as many as 57 hours of weekly English or bilingual playgroup sessions. With the closures of the two sites, parents estimate this will drop to just 15 hours weekly.

Story continues below

OCDSB supervisor holding ‘town halls’ while trustees are sidelined
Deachman: Ottawa 200 just hype for now, needs more party
Advertisement 1

Story continues below

More than 1,100 people have signed a petition urging the City of Ottawa and the Catholic school board to preserve the playgroup, if not in its current location, then in a suitable space nearby.

Larouche added the remaining sites may also be less accessible for families who rely on public transit.

For many families, the Charlemagne EarlyON played an especially vital role because of its supportive staff, daily drop-in schedule and baby class offerings.

Twylla Hodgins said Charlemagne centre staff gave her the resources to seek support from a speech-language specialist for her granddaughter.

“I needed a supportive community and the Charlemagne EarlyON became that community for us. I relied on the staff and the other parents to be my network to support me and the children in my care to lay a safe, caring, empathic, and inclusive foundation,” Hodgins wrote in an email.

Orléans-West Innes Coun. Laura Dudas addressed the playgroup closure in a social-media post on Tuesday, stating she confirmed with the head of children’s services at the City of Ottawa that funding previously allocated to the closed centres would stay in the east end.

“Their short-term goal is to maintain access to these vital programs as quickly as possible by increasing capacity at a nearby EarlyON locations so families continue to have access to these high-quality programs and resources,” Dudas wrote.

She added the city was also exploring longer-term solutions to keep playgroup services in the east end and would consider proposals for new locations in the new year.

But, for parents such as Patnaik, the need to fill the gap created by Charlemagne’s closure is immediate.

“Even if another centre opens up in six months, that’s six months of parents having to pivot and trying to find something to do,” she said. “I think it’s going to have a detrimental impact. We need a solution right away.”

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Crypto Bulls Lose $500M as Bitcoin Hovers Around $108K After Trump’s Tariff Threats

Crypto Bulls Lose $500M as Bitcoin Hovers Around $108K After Trump’s Tariff Threats