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Highlights
- $400 Billion Loss in Crypto Market Crypto market capitalization drops by 12%, wiping out over $400 billion.
- Altcoins Take a Major Hit Ethereum, XRP, Solana, and others suffer double-digit losses.
- Liquidations Surge Over $2.2 billion in liquidations occurred in the last 24 hours.
The cryptocurrency market has experienced a dramatic downturn, shedding more than $400 billion in value in less than 24 hours. The global market cap fell by around 12%, reaching approximately $3.1 trillion, the lowest level seen in 2025 so far. This massive selloff, which took place primarily during the Monday morning Asian trading session, erased the gains accumulated since mid-November 2024. The rapid acceleration of the downtrend caught many traders off guard, sending prices into a tailspin.
In a further sign of distress, over 700,000 traders were liquidated, contributing to a staggering $2.2 billion worth of liquidations, according to data from Coinglass. The collapse in market sentiment has been attributed to a confluence of factors, with the most prominent being President Donald Trump’s recent tariff announcements and the broader economic uncertainty surrounding his trade policies.
The fear and greed index for Bitcoin (BTC), which had been hovering at ‘greed’ levels for months, has now shifted back to ‘fear,’ dropping to 44. The market's volatility reached new extremes as Bitcoin (BTC) slumped around 7.5%, falling from just over $100,000 to a low of $91,300, before slightly recovering to the $93,000 range. Despite this, Bitcoin’s performance has remained within its long-standing range.
In contrast, altcoins have been hit harder. Ethereum (ETH) plummeted 25%, sinking below $2,400, a price point not seen since October 2024. The ETH/BTC ratio also dropped to a multi-year low of 0.023. Ethereum is now nearly 50% down from its all-time high in 2021. Ripple's XRP fared even worse, falling more than 26% within hours, briefly dipping below $2 before recovering slightly.
Solana (SOL) suffered a 14% decline, returning to the $180 level. Binance Coin (BNB) also experienced significant losses, dropping 16% to $550. Dogecoin (DOGE) took a 24% hit, crashing to $0.22. Meanwhile, other altcoins like Cardano (ADA) and Chainlink (LINK) saw even larger losses, with ADA falling almost 30% to $0.60 and LINK down 23% to $17. Avalanche (AVAX) also tumbled 25%, dipping to $23.
This broad-based selloff is a reflection of the mounting anxiety surrounding the broader market. The imposition of tariffs by the Trump administration, coupled with growing fears about global economic instability, has triggered significant concern among cryptocurrency holders. Many are now questioning the long-term impact of trade wars and economic slowdowns on digital assets. While the crypto market remains unpredictable, the losses seen today are a stark reminder of the volatility that defines this asset class.
