Asian stocks fell across the board, BTC 91K, ETH 2.1K, and the entire network liquidated 2 billion Mg

After President Trump officially launched the trade war, Asian stocks opened with a sharp drop, and cryptocurrencies plunged again after a gradual decline over the weekend. Bitcoin once fell to 91K, and Ethereum even reached above 2,100, plummeting 11% in one hour. Cryptocurrencies saw $2 billion in liquidations across the network in 24 hours, with ETH being the largest, and investors should pay attention to their own risk management.

The US Launches Tariff Wars with Canada, Mexico and China

Last Saturday (2/1), US President Trump signed an order imposing a 25% tariff on imports from Mexico and Canada, and a 10% tariff on China. Energy resources from Canada will be subject to a lower 10% tariff.

Canadian Prime Minister Justin Trudeau subsequently announced retaliatory tariffs of 25% on $107 billion worth of US goods, and Mexican leader Claudia Sheinbaum also promised retaliatory tariffs. The Chinese Ministry of Commerce issued a statement promising corresponding countermeasures, but did not provide details, and pledged to file a complaint with the World Trade Organization.

Asian Stocks Plunge Across the Board

Asian stocks opened sharply lower on Monday, with the Nikkei index down 2.16%, the Taiwan Weighted Index plunging 3.59%, and the South Korean KOSPI index falling 2.74%. The Chinese mainland stock market remained closed for the Spring Festival.

TSMC, the "Holy Mountain of Taiwan", was affected by DeepSeek and plunged 5.29% after the Lunar New Year opening, currently trading at 1,075.

Bitcoin 91K, Ethereum Approaches 2100

Cryptocurrencies plunged again after a gradual decline over the weekend, with Bitcoin once falling to 91K and Ethereum even reaching above 2,100, plummeting 11% in one hour.

XRP, BNB, and ADA also fell by over 9%, 10%, and nearly 20% respectively within an hour.

Cryptocurrencies See $2 Billion in Liquidations Across the Network in 24 Hours

Cryptocurrencies saw $2 billion in liquidations across the network in 24 hours, with ETH being the largest, having $430 million in positions liquidated, while Bitcoin accounted for $350 million. The market is highly volatile, and investors should pay attention to their own risk management.