Crypto Market Plummets 7.79% Amid Rising Rates, Tariffs

The global cryptocurrency market has experienced a significant downturn, with the total market capitalization dropping to $2.46 trillion, reflecting a 7.79% decrease over the past 24 hours. This decline is attributed to growing macroeconomic concerns, particularly the rising interest rates, which have raised fears of instability across financial markets.

The market crash has been exacerbated by a sharp sell-off in U.S. equities, directly linked to the new global tariffs imposed by Donald Trump just days ago. This move has added to the market’s uncertainty, triggering widespread panic and liquidation across crypto assets.

According to Coinglass, the total liquidations in the past 24 hours have reached a staggering $985.78 million, underscoring the severity of the market’s reaction. Major cryptocurrencies have faced heavy losses, with Bitcoin (BTC) dropping to $77,338.50, marking a 7.23% decline over the past 24 hours. Ethereum (ETH) is trading at $1,551.52, down 14.19%, while XRP has fallen to $1.81, reflecting a 14.52% decrease. Binance Coin (BNB) and Solana (SOL) have also experienced notable losses, with BNB down 6.51% and SOL declining by 13.96%.

The Fear & Greed Index has plummeted to 17, indicating extreme fear within the crypto market. This sentiment often signals potential buying opportunities, but the current volatility makes it a risky environment. With the market under pressure, traders are watching closely to see if cryptocurrencies can stabilize or if further declines are imminent. The coming days will be critical in understanding the direction of the next market movement.