The cryptocurrency market suffered sharp losses over the weekend, mirroring a broader global sell-off driven by mounting recession fears and escalating trade tensions.
Investors fled risk assets after U.S. equities logged their worst performance since 2020, following President Donald Trump’s announcement of sweeping new import tariffs.
Bitcoin (BTC) Price Slips Below $75K
Bitcoin (BTC) price dropped more than 10% on Monday, falling to $74.4K, according to Coin Market Cap. The decline marks a major pullback from its all-time high of $109,100, with BTC now down 30% from its peak.
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For most of 2025, Bitcoin stayed above $80,000, showing resilience despite growing macroeconomic pressures.ย
Last week, BTC briefly defied broader market weakness, trading between $86,000 and $88,000 and ending the week strongly. However, this weekend’s market turmoil proved too overwhelming, dragging Bitcoin down alongside traditional assets.
However, while BTC price bore the brunt of investor panic, altcoins faced even deeper losses
Ethereum, XRP, Dogecoin See Sharp Price Drop
Ethereum (ETH), Dogecoin (DOGE), and XRP experienced even sharper declines. All three tokens posted double-digit losses, with ETH falling 18% in the past 24 hours to $1,465 by Monday. XRP recorded an even steeper drop of 21.3%, sliding to $1.66. Meanwhile, Dogecoin price slid nearly 20% to $0.1315, its lowest point at the time of writing.
These figures underscore the heightened volatility of altcoins during periods of widespread market instability.
In addition to that, sharp price drops werenโt just investor-driven โ they also triggered a cascade of liquidations across crypto markets.
Mass Liquidations Add to Downward Pressure
The steep sell-off triggered a wave of forced liquidations across crypto derivatives markets. In total, approximately $1.23 billion in positions were wiped out in the past 24 hours.
Long traders caught off guard by the market plunge saw heavy losses. Bitcoin long liquidations totaled $430.12 million, while Ethereum followed with $343.52 million, according to data from CoinGlass.
With crypto markets running 24/7, the lack of a weekend break only fueled the panic, speeding up liquidations and deepening the price drop.
Tariff Shock Sparks Global Recession Fears
The catalyst for the global risk-off sentiment was US President Donald Trumpโs announcement of new tariffs on all imports, including additional levies targeting key trading partners.
The aggressive move has reignited fears of a global trade war and a potential recession, prompting investors to de-risk their portfolios rapidly.
Dow Jones futures plunged 1,558 points, or 4.03%, signaling another tough session on Monday. S&P 500 futures dropped 3.81%, while Nasdaq-100 futures tumbled 4.86%, as investors unloaded tech stocks to raise cash.
On the Flipside
- Long-term investors may view the dip as a chance to accumulate Bitcoin and altcoins at discounted prices.
Why This Matters
With macroeconomic risks still looming and no crypto-specific catalysts on the horizon, markets may remain volatile at least in the short term.
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