According to Ai 姨 (@ai_9684xtpa), news that China has reduced tariffs on US imports to 10% triggered an immediate surge in Bitcoin price, spiking to $105,525. This sharp rally led to significant losses for large short positions, with one major trader facing a floating loss of $1.27 million, just $200 away from liquidation at $105,710. The trader reportedly holds $20 million in reserve funds, raising questions about potential margin top-ups. Traders should closely monitor further developments, as macroeconomic policy shifts and cross-border trade news are having direct and rapid impacts on crypto markets. Source: Twitter (@ai_9684xtpa, May 12, 2025).

According to Cas Abbé, $38 million was liquidated from a single BTC long position. In the past 24 hours, $402 million worth of BTC longs have been liquidated, and over the last 5 days, more than $3 billion in long positions have faced liquidation. This indicates severe market turbulence affecting traders who were betting on BTC price increases.