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.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
