Leveraged Ether Traders Caught Off Guard in Trump Tariff Selloff
- Ether fell as much as 27% on Monday as crypto markets slumped
- Investors were forced to unwind bullish bets on the token
A cryptocurrency store in Hong Kong.
Photographer: Lam Yik/BloombergThis article is for subscribers only.
The unraveling of leveraged bets on Ether placed the token among the hardest-hit cryptocurrencies in a selloff on Monday, as investor sentiment soured after US President Donald Trump’s tariff announcements.
Ether, the second-largest digital asset by market value, tumbled as much as 27% to $2,135 on Monday, marking its steepest intraday drop since May 2021. By contrast, Bitcoin managed to limit losses to about 6%, while smaller rival Solana declined by 13%.