Crypto Market Cap Drops by $0.23 Trillion Amid Tariff Concerns
Recent developments in the crypto market follow a significant downturn influenced by external economic factors:
- The S&P 500 index fell approximately 10.6% following tariff announcements.
- Gold prices decreased by about 6.4% in response to these announcements.
- Bitcoin declined by 6% over the weekend, dropping from $82.5k to $77.2k.
- Ethereum saw a sharper decline of 15.7% during the same period.
- Total crypto market capitalization decreased by $0.23 trillion (8.6%).
- Bitcoin's current price reflects a 27.2% drop from its all-time high of $106k.
- Estimated liquidations over the past 24 hours reached around $1.42 billion, with Bitcoin and Ethereum accounting for approximately $479 million and $418 million respectively.
- Aave v3 on Ethereum experienced $91.85 million in liquidations without incurring bad debt.
- Tokens including FART, GRASS, and PENDLE are showing relative strength amid broader market declines, with RSI values indicating potential upward momentum.