The global cryptocurrency market took a major hit today, with the total market capitalization falling 5.46% to $2.63 trillion. This sharp decline was triggered by a broad sell-off following U.S. President Donald Trump’s announcement of new tariffs on trading partners worldwide, sparking concerns about global economic stability.
Bitcoin (BTC) led the downturn, dropping to $82,274.70—a 5.39% decrease in the past 24 hours and a 5.67% drop over the past week. Ethereum (ETH) also saw a substantial decline, down 6.04% to $1,787.79, while XRP fell 7.76% to $2.00. Binance Coin (BNB) wasn’t spared either, slipping 2.94% to $588.96.
The market’s slump was fueled by widespread losses across major altcoins. Cardano (ADA) struggled with a 9.25% drop, now sitting at $0.6315. Solana (SOL), Dogecoin (DOGE), Toncoin (TON), Chainlink (LINK), Polkadot (DOT), Avalanche (AVAX), Shiba Inu (SHIB), and Hedera (HBAR) all faced declines, with losses ranging from 4.83% to 11.18%.
Stablecoins like Tether (USDT) and USD Coin (USDC) remained steady, showing little price movement as investors sought refuge in these less volatile assets.
The market’s Fear & Greed Index now sits at 24, signaling extreme fear among investors as the crypto sector reacts to the ripple effects of U.S. trade policy. With global markets under pressure, all eyes are on how digital assets will react in the next few days.
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