The cryptocurrency market faced a sharp downturn on Monday, with Bitcoin (BTC) plunging to $90,000 and leading altcoins following suit.
Ethereum (ETH), XRP, and Solana (SOL) saw steep declines as investor sentiment turned bearish amid mounting concerns over global trade tensions.
The broader market shed nearly 5% of its total value, slipping below the $3 trillion mark, as massive liquidations fueled the sell-off.
Analysts point to US President Donald Trump’s tariff announcement on Canada and Mexico as a key factor behind the latest crypto downturn, sparking fears of a renewed trade war.
Bitcoin crashes to $90K amid massive liquidations
Bitcoin saw an alarming drop, touching an intraday low of $90,924 before recovering slightly to $92,068 at press time.
According to CoinMarketCap data, BTC suffered $271.69 million in liquidations over the past 24 hours, intensifying selling pressure.
Ethereum wasn’t spared from the market rout, plunging 8% to $2,490 after hitting a low of $2,461.52.
The sharp decline coincided with $192.53 million worth of ETH liquidations, as per Coinglass data.
The broader sell-off extended to major altcoins:
XRP dropped 8.5% to $2.26, with an intraday low of $2.23. Liquidations for the Ripple-backed asset totaled $38.25 million.
Solana (SOL) suffered a 14% crash, trading at $137.19. The token’s decline followed $90.60 million in liquidations, adding to the selling pressure.
Meme coins also took a hit, with Dogecoin (DOGE) losing 10% to trade at $0.2077, while Shiba Inu (SHIB) fell 8% to $0.00001367. PEPE and TRUMP tokens dropped 13%-15%, reflecting the overall bearish sentiment in the crypto space.
Market-wide sell-off fueled by trade war concerns
The sharp decline across the crypto market follows Trump’s reaffirmation that US import tariffs on Canada and Mexico will proceed after a 30-day delay.
With the trade restrictions set to take effect next week, global markets are experiencing heightened uncertainty.
Traders fear that escalating trade tensions could lead to stricter regulations, reduced liquidity, and increased volatility in both traditional and digital assets.
Despite the widespread losses, a few cryptocurrencies managed to stay in the green:
Story (IP) surged 20% to $4.72.
DeXe (DEXE) gained 4%, trading at $19.11.
FTX Token (FTT) inched up 1% to $1.91.
Among the worst-hit tokens were:
Hyperliquid (HYPE): down 16%, trading at $18.58.
Sonic (S): down 15%, priced at $0.7257.
LidoDAO (LDO): down 15%, falling to $1.37.
With the U.S. tariff policy set to take effect next week, traders are bracing for further volatility.
The crypto market remains on edge, with analysts watching for potential rebounds or deeper corrections.
If macroeconomic pressures persist, Bitcoin and leading altcoins could face more downward pressure in the coming days.
Stay tuned for more updates on the latest crypto market trends and price movements.
The post Bitcoin crashes to $90K as crypto market reels from trade war fears appeared first on Invezz
