Don't you see any connection between Trump's statements and the dump on the stock and cryptocurrency exchanges? I think that Trump's next statement on the suspension of trade duties will be enough, and the market may grow by 10-15% on such news.
Yeah, it was the ripple effect after the reciprocal traffic and trade policies that came into effect in April 5th. Stock markets took the first blow, while crypto markets seems stable after first. Anyone trading crypto had a chance to react or put up some risk management measures.
Regardless, I think the market (crypto) is going to stabilize in the next few days or weeks when the dust finally settles down, and I believe not all long traders were affected especially those who used lower leverage to open their Long positions