LUNC Price Drop 50% Overnight: The Shocking Truth Behind the Drop
In a stunning turn of events, LUNC (Terra Classic) plunged nearly 50% overnight, marking one of its steepest single-day declines in months. The sharp fall shocked investors and sparked panic across the cryptocurrency market.
What Caused the Massive Drop?
The downturn followed an announcement by U.S. President Donald Trump of a 100 percent tariff on Chinese imports beginning November 1. The news reignited fears of a potential trade war between the world’s two largest economies, triggering a broad sell-off in risk assets, including cryptocurrencies. According to market analysts, investors are moving toward safer assets as global uncertainty increases.
| Event | Impact |
|---|---|
| Trump announces 100% tariff on Chinese imports | Global markets react with fear of renewed trade war |
| Crypto market broad sell-off | Investors move to safer assets amid global uncertainty |
| Bitcoin falls below 110,000 USD | Triggers widespread liquidations across altcoins |
| Over 1.6 million traders liquidated | Total liquidation exceeds 19.29 billion USD — the largest in crypto history |
The Largest Single-Day Liquidation in Crypto History
Over the past 24 hours, the market experienced the largest single-day liquidation event ever recorded. More than 1,659,000 traders were liquidated, resulting in a total loss exceeding 19.29 billion USD. Analysts say the event underscores the risk of excessive leverage in crypto markets, where rapid price swings can trigger large-scale automatic sell-offs within minutes.
Trade Tensions Spark Market Panic
The sell-off began shortly after U.S. President Donald Trump announced plans to impose a 100 percent tariff on Chinese imports starting November 1. The announcement reignited fears of a renewed trade war between the world’s two largest economies, pushing global investors away from riskier assets such as cryptocurrencies.
According to market strategists, traders shifted toward safer investments amid growing uncertainty in both traditional and digital markets.
Leverage Unwinds and Technical Rejections
Data from major exchanges show that a wave of leveraged long positions in Bitcoin and Ethereum was wiped out following the tariff announcement. These forced liquidations accelerated the market’s decline, causing additional price pressure.
Bitcoin also faced strong technical resistance near the 117,000 USD level. The failure to break above this threshold triggered automated sell orders and widespread profit-taking, deepening the correction.
LUNC Price Structure
LUNC’s technical setup made it especially vulnerable to a sell-off. The resistance area between
0.00006500 and 0.00007000 had already rejected several breakout attempts.
Another rejection occurred around 0.00005500–0.00006000, showing that bulls were losing strength.
Once the strong support zone at 0.00004800–0.00005200 broke, prices fell sharply with little
buying interest, sliding toward the 0.00003000 psychological level. The next potential supports
are near 0.00002500 and 0.00002000, based on historical buying zones.
