XRP, SOL prices tank as over $2b wiped from crypto market after tariffs announced by Trump

The cryptography market plunged into the area of ​​fear of the crypto fear and greed index, sliding at the levels of feeling seen for the last time in October 2024.

A mixture of fresh American prices, low liquidity and panic sold more than $ 2 billion on the market in the last 24 hours, according to data of quince. In the middle of chaos, Bitcoin (BTC) The price dropped by almost 6% to around $ 91,200 before bouncing slightly, but Altcoins took an even harder blow.

Ethereum (Ethn) sang 18%, XRP (Xrp) was the largest loser with a 20%drop, and Solana (GROUND) dropped by 8% while total market capitalization flowed from almost 12% to 3.15 billions of dollars.

The co-founder of Matrixport Daniel Yan called He “another typical wealthy Monday”, blaming Asia’s markets for their instinctive reaction to bad news. He highlighted extreme volatility, with the Coinbase eth bonus – a sign of high demand for purchase in the United States – at 6% while the 100 best tokens reached an average loss of 22%.

A user x under alias @coins_kid Noted in a post X On February 3, that the price structure of XRP has suggested an “extended correction of the flat wave” since December and that “we do not see entirely 5 waves in C.” While some see it as a potential purchasing moment, the global feeling seems to be careful.

Santiment data show that merchants are retreating. A user analyzing the aggregate feeling noted: “The discussions on the purchase of the decline were calmed. Large targets such as $ 110K-20K for Bitcoin receive less attention. »»

Despite chaos, the head of Bitwise Jeff Park alpha strategies believes Prices are part of a much more important game. He argues that the United States is looking for a way to weaken the dollar without crushing its ability to borrow at a lower cost – a kind of “Plaza Accord 2.0”.

And although prices can be a tool in this game book, the long -term impact on Bitcoin could be massive. With a lower dollar, lower American rates and global economic uncertainty, Bitcoin could go “higher, violently faster,” wrote Park in a February 3 job on X.