Today, the cryptocurrency market is experiencing a significant downturn. Major coins like Bitcoin and Ethereum are seeing sharp price declines, and overall market sentiment signals fear.
Current State of the Cryptocurrency Market
Today, the cryptocurrency market shows a significant decline. Bitcoin (BTC) is priced at $96,636.4, down by 4.52%. Ethereum (ETH) has dropped by 10.28% to $2,826.76. Solana (SOL) has lost 8.48% of its value, trading at $198.03. Altcoins like XRP and Dogecoin (DOGE) have experienced even more significant losses, falling by 20.62% and 19.05%, respectively. The overall market capitalization has fallen to $3.21 trillion, down by 6.50%. The Fear & Greed Index at 47 signals fear in investor sentiment, while the CMC100 index is down 8.07% to $195.19. Bitcoin continues to dominate the market with a dominance of 59.89%, followed by Ethereum at 10.64%.
Impact of Geopolitical Factors
The downturn in the cryptocurrency market can be linked to increased geopolitical tensions. New tariffs imposed by the U.S. on several countries have added uncertainty to the global economic market. President Trump announced new tariffs on Mexican, Canadian, and Chinese imports, adding to an already fragile global trade environment.
Liquidations and Their Consequences
According to the latest 4-hour liquidation heatmap, total liquidations across multiple exchanges have reached significant amounts. Ethereum (ETH) leads with over $111 million in liquidations, followed by Bitcoin (BTC) at $62 million. Other cryptocurrencies such as XRP, Dogecoin (DOGE), and Solana (SOL) have also seen considerable liquidation volumes. In the past 24 hours, total liquidations have reached $1.19 billion.
Current trends in the cryptocurrency market show a rise in market fear amid economic and geopolitical upheavals. Investors continue to shift away from risk-heavy assets, leading to price declines in major cryptocurrencies.
