1 week Ago
The crypto market today witnessed a dramatic turnabout, declining 4.42% to a market capitalization of $2.43 trillion.
This drop took place just a day after markets went green across the board. Investors were hoping that the Trump reciprocal tariffs that were supposed to become effective on April 10, would be postponed. However, the reality hit that there be no postponement and it will become effective from midnight on April 9, 2025.
This prompted a worldwide sell-off. Bitcoin fell by 4.92%, down to $76,360.
77, and Ethereum fell 10.03% to $1,439.60.
Other top altcoins also followed XRP dropped 6.75%, Solana by 5.85%, and Cardano by 6.
45%. Stablecoins such as USDT and USDC held strong, highlighting their safe-haven status in times of growing global economic uncertainty. Let’s explore crypto prices today in detail to understand what to expect from the market in coming days.
Bitcoin , the top cryptocurrency, plummeted to $76,360.77 with a 4.92% loss in the last 24 hours.
Bitcoin's market capitalization stands at $1.515 trillion currently, with a trading volume of over $53.73 billion.
With 702.48K BTC traded recently, this is one of the most volatile days of trading in recent weeks. Second-largest cryptocurrency Ethereum experienced even larger declines, falling 10.
03% to $1,439.60. Its market cap is currently $173.
72 billion, with a 24-hour volume of $25.11 billion. The sharp decline wipes out multiple weeks of gains.
Market experts state that Ethereum investors might be responding more severely to macroeconomic uncertainty. This is due to the network's higher DeFi use and exposure to regulatory movements. Other top altcoins followed suit.
Ripple (XRP) plummeted to $1.78, a 6.75% decline, while BNB reached $547.
47, representing a 3.04% fall. Solana (SOL) is down by 5.
85%, now trading at $105.05, with Cardano (ADA) dropping 6.45% to $0.
5591. The overall market cap for altcoins saw a sharp decline. Thus, further showing how market-wide panic has taken over the digital asset sector.
Meme token Dogecoin (DOGE) fell 6.75% to $0.1420, even with recent social media-fueled interest.
TRON (TRX) fell more modestly, down 2.91% to $0.2268.
These are part of a larger sell-off that is sparing few tokens, whether based on fundamentals or utility. While top cryptos plummeted, stablecoins such as Tether (USDT) and USD Coin (USDC) held their ground. USDT traded for $0.
9991 with only a 0.05% fluctuation, while USDC was still pegged at $1.00 without any variation.
Their stability emphasizes their role as a protective hedge against price swings. Thus, providing investors with a haven where they can deposit capital during difficult times. The market slide comes after heightened trade war tensions between China and the United States.
A fresh Trump announcement of a 104% duty on Chinese imports rocked financial markets worldwide, causing widespread selling in equities and digital currencies. Crypto markets, which are reactive to geopolitical and monetary events, responded sharply. Investors also wait for signals from the Federal Reserve on future interest rate cuts, which are central to stabilizing market sentiment.
Although the crypto market today looks all in red, some experts think this could be a healthy correction and not a reversal of the long-term trend. Crypto has always recovered from such dips, especially when fueled by external economic factors. Traders will likely watch closely for central bank cues, inflation reports, and geopolitical events before returning to the market.
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