ETH, SOL, DOGE, XRP crash amid crypto market sell-off

Ethereum, Solana and other large altcoins took a blow on Monday while the entire cryptography market fell by more than 13%, after a large sale in Asian markets, which leads to more than a billion dollars in liquidations.

Ethereum (Ethn), the largest Altcoin, fell by more than 19% in just 24 hours, falling to around $ 1,450. This lowers it more than 60% for the year. Other popular pieces like XRP (Xrp), Solana (GROUND), and Dogecoin (DOGE) also lost key support levels, each falling from around 18 to 20%.

In total, the cryptography market recorded more than $ 1.38 billion in liquidations, the majority from long positions. About 1.21 billion dollars were destroyed by merchants in Paris on prices.

The recent sale in ETH and other altcoins seems to be largely motivated by the increase in global tensions launched by the renewed tariff war by US President Donald Trump. Its plan includes a 10% rate on most imports, with even higher rates, 34% on Chinese products and 20% on EU products.

Trump says new prices will help bring more money for the United States and solve trade problems with China and Europe. But the markets did not take it well.

China retaliated With its own reprisals, targeting key American exports such as agricultural products and technological goods. Other countries, including some in the EU and Asia, have also suggested to the introduction of similar countermeasures, which raises fears of a full-fledged world trade war.

The stock markets in China, Taiwan, Japan and Singapore suffered serious losses on Monday morning, triggering circuit breakers, a mechanism designed to stop exchanges during extreme volatility temporarily. Regional indices fell between 7% and 13% while the sale of panic swept away investors.

Bitcoin (BTC)) crash alongside stock markets. The main cryptocurrency dropped 8% during the last day, lowering the $ 76,500 mark below, a level warned that analysts should be held to avoid deeper losses.

The Crypto Fear & Greed index fell 11 points a day, landing in the “extreme fear” area. It is a sign that investors turn away from risk assets.

The decline also raised doubts about the role of Bitcoin as a cover In times of economic uncertainty, especially since it has dropped while gold and other precious metals have experienced price gains.

To worsen things, the Jerome Powell nourished chair said New prices could increase inflation and slow down the American economy. He also mentioned that it is not yet necessary to reduce interest rates, which is not excellent news for crypto or shares, which both tend to do better when the rates are lower.

Commenting on the drop in today’s cryptography market, Georgii Verbitskii, founder of the application of Investors Crypto Tymio, told Crypto.News that he thought that the sale does not concern the failure of specific altcoins, but rather a wider wave of “market stress” fueled by macro uncertainty.

He underlined Trump’s pricing announcements as a major voltage engine, saying that they had led to a “large sale of risky assets”.

With more than a billion dollars in liquidations hitting the cryptography sector, Verbitskii noted that it was understandable that Altcoins took a hit. However, he called it for a moment for “caution, not panic” and said that the market would probably remain reactive until there is more clarity on regulatory and macroeconomic fronts.

Slava Demchuk, CEO of Amlbot, also attributed the accident to a mixture of external pressures and internal fragility. According to Demchuk, it’s “just a storm” and not the end of the road.

“In the short term, I expect volatility persists, but the recovery will depend on positive catalysts, such as a more stable economic policy in the United States. We have to focus on risk management and long-term fundamentals during this turbulence, “he added.