Crypto Today: BTC Dips to $90K, Altcoins Drop

The crypto market is facing intense volatility as Bitcoin (BTC) and major altcoins experience sharp declines. The market-wide slump, triggered by massive liquidations and growing trade war concerns due to Donald Trump’s latest tariff announcement, has investors on edge.

Why Is the Crypto Market Down Today?

Donald Trump recently confirmed that U.S. import tariffs on Canada and Mexico will proceed after the temporary 30-day halt expires next week. This announcement has fueled fears of a trade war, putting pressure on global financial markets, including cryptocurrencies.

The crypto market suffered a 5% drop, pushing the total market capitalization below the $3 trillion mark during early Asian trading hours. Additionally, $887.85 million worth of crypto assets were liquidated over the last 24 hours, leading to further price instability.

Bitcoin Hits $90K Low Amid Market Turmoil

Bitcoin’s price plunged to $90,924.90 intraday, though it later recovered slightly to $92,152 at press time. According to CoinMarketCap, BTC saw liquidations of $271.69 million within 24 hours. Despite the sell-off, BTC’s market dominance increased 0.94% to 61.16%, suggesting heightened pressure on altcoins.

@CryptoWatch: “Bitcoin just dipped below $91K! Liquidations hit $271M in a day! Is more downside coming? #CryptoCrash #Bitcoin”

Ethereum (ETH) Drops Below $2,500

Ethereum followed BTC’s downward trajectory, experiencing an 8% crash over the last 24 hours. ETH hit a low of $2,461.52 before recovering to $2,490. According to Coinglass data, Ethereum liquidations totaled $192.53 million, leading to a decline in its market dominance to 10.1%.

@ETHNews: “Ethereum breaks below $2.5K! $192M in liquidations. Will ETH bulls step in? #Ethereum #CryptoNews”

XRP and Solana Face Double-Digit Losses

• XRP: The Ripple-backed asset fell 8.5%, trading at $2.26, with an intraday low of $2.23 and liquidations worth $38.25 million.
• Solana (SOL): Suffered a 14% decline, dropping to $137.19, with $90.60 million in liquidations driving the price down.

@SolanaTracker: “SOL down 14%! $90M liquidated! Can it recover from this drop? #Solana #CryptoMarket”

Meme Coins Take a Hit

• Dogecoin (DOGE) slumped 10%, closing at $0.2077.
• Shiba Inu (SHIB) lost 8%, now at $0.00001367.
• PEPE and TRUMP plunged 13%-15%, trading at $0.000007818 and $13.10, respectively.

Top Gainers Despite Market Crash

Despite the downturn, a few tokens defied the broader market trend:

• Story (IP): $4.72 (+20%)
• DeXe (DEXE): $19.11 (+4%)
• FTX Token (FTT): $1.91 (+1%)

Biggest Losers in Today’s Crypto Market

• Hyperliquid (HYPE): $18.58 (-16%)
• Sonic (S): $0.7257 (-15%)
• LidoDAO (LDO): $1.37 (-15%)

What’s Next for the Crypto Market?

With the U.S. import tariffs set to begin next week and continued trade war concerns, investor sentiment remains uncertain. Market participants are closely watching BTC’s ability to hold key support levels and whether altcoins can recover from this sell-off.

 @CryptoInvestor: “Tariffs, liquidations, and volatility—what’s next for crypto? Stay cautious! #CryptoMarket #BitcoinNews”

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