Crypto Market is Bleeding – Bitcoin Drops Below $77,000
The cryptocurrency market began the week in turmoil, plunging into the red following the global tariffs introduced by U.S. President Donald Trump last week.
The sudden market downturn comes as investors react to the economic uncertainty sparked by the new trade restrictions, resulting in significant losses across the crypto sector.
Over the past 24 hours, the total market capitalization has dropped by 8.43%, settling at approximately $2.45 trillion. Trading volume, however, surged by 190%, reflecting the intense sell-off as panic gripped the market.
Bitcoin, the leading cryptocurrency, saw its value plummet by 7.75% to $76,800, with its market cap shrinking to $1.52 trillion. The coin’s trading volume soared to $49 trillion as traders scrambled to exit positions.
Ethereum also faced a significant blow, shedding 14.5% of its value to trade at $1,544. The second-largest cryptocurrency by market cap is now valued at $186 billion, with $28.9 billion in volume over the past day.
XRP was among the hardest hit, losing 17% and trading at $1.76. Its market cap fell to $102.8 billion. Meanwhile, Solana dropped 15% to $101.7, with a market cap of $52.4 billion.
The increased volatility also triggered widespread liquidations, totaling over $1 billion in the past 24 hours. Long positions accounted for most of the losses, with $872.54 million liquidated, while shorts saw liquidations of $120.25 million.
The global tariff measures have introduced fresh uncertainty into the financial markets, prompting crypto investors to reassess their strategies. As the economic landscape remains turbulent, the crypto market may continue to experience heightened volatility in the coming days. The crypto Fear and Greed Index is now pointing at “Extreme Fear” at 23.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
