The global cryptocurrency market experienced a significant drop today, with the total market capitalization falling by 5.46% to $2.63 trillion. This decline was caused by a widespread sell-off following U.S. President Donald Trump’s announcement of new tariffs on trading partners worldwide. This has raised concerns about the stability of the global economy.
Bitcoin (BTC) was the most affected, dropping to $82,274.70, which is 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) also experienced a drop, slipping 2.94% to $588.96.
The decline in the market also affected major altcoins. Cardano (ADA) faced a 9.25% drop and is now sitting at $0.6315. Other altcoins such as Solana (SOL), Dogecoin (DOGE), Toncoin (TON), Chainlink (LINK), Polkadot (DOT), Avalanche (AVAX), Shiba Inu (SHIB), and Hedera (HBAR) all experienced declines, with losses ranging from 4.83% to 11.18%.
Stablecoins like Tether (USDT) and USD Coin (USDC) remained stable, with little price movement as investors sought refuge in these less volatile assets.
The market’s Fear & Greed Index currently stands at 24, indicating extreme fear among investors as the crypto sector reacts to the effects of U.S. trade policy. With global markets under pressure, all eyes are on how digital assets will perform in the coming days.
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