Crypto Crash: Bitcoin, Ethereum, XRP, and Solana Plummet Amid Global Trade Tensions

Crypto markets continued their downward trajectory on February 28, with Bitcoin (BTC) briefly touching a low of $79,000 and Ethereum (ETH) slipping below the $2,200 mark. The broader sector experienced significant pressure, with altcoins such as XRP and Solana (SOL) also registering substantial losses.

The crypto market cap shed nearly 4% in the past 24 hours, reaching $2.7 trillion, while market volume decreased by 10.5% to $138.91 billion. This data suggests that market participants remain cautious amid volatile market conditions. Over 177,000 traders were liquidated for more than $700 million in a single day, according to Coinglass.

Global trade tensions, sparked by Donald Trump's new import tariffs on the EU, Canada, and Mexico, have also impacted global markets, contributing to the crypto sector's volatility.

As of press time, BTC price had declined by over 5% in the past 24 hours, trading at $80,470. The flagship coin hit a bottom of $79,523 during the same period, with liquidations worth $365.91 million in the Bitcoin market. Despite this, BTC's dominance managed to increase by 0.07%, indicating that altcoins faced more significant pressure.

ETH price tanked over 7% in the past 24 hours, closing in at $2,152. The coin hit an intraday bottom and peak of $2,128.18 and $2,378.09, respectively. Ethereum recorded liquidations worth $166.28 million in the past 24 hours, rationalizing the slumping action.

XRP price traded at $2.02 at the time of reporting, crashing 8% intraday. Ripple's native coin hit a low and high of $2.02 and $2.25 over the past day, with liquidations for the same coming in at $17.94 million in the past 24 hours. The crypto's price faces heat in tandem with broader market trends.

SOL price slumped 8% in the past 24 hours, closing