Massive liquidations in the crypto market have caused significant price swings in leading altcoins like Ethereum and Cardano following the imposition of US tariffs.
Crypto Market Liquidations
Over the last 24 hours, more than $2.24 billion has been liquidated from crypto markets amid growing geopolitical uncertainties spurred by the global tariff war. Ether led the liquidations, totaling over $609.9 million. The largest single liquidation order was listed on the Binance exchange for an ETH/BTC trading pair and estimated at $25.6 million.
Impact on Top Altcoins
After massive liquidations, top altcoins like Ethereum and Cardano dropped double digits within an hour following US President Donald Trump announcing tariffs against China, Canada, and Mexico.
Fear and Greed Index
As of today, investor sentiment in the crypto market is at the fear stage according to CoinMarketCap. At the time of writing, the fear and greed index is at 39, indicating investors' concerns about their investments. Previously, extreme fear sentiments have provided buying opportunities for many.
The crypto market remains volatile due to geopolitical events and reactions, such as mass asset liquidations. The fear and greed index reflects current market apprehensions, reminding us of the inherent volatility of cryptocurrencies.
