The crypto market is registering a constant downfall now that U.S. President Trump stirred global tariff tensions. Bitcoin saw a price drop of nearly five percent over the last day to trade at $63,190 on Tuesday. The asset’s seven day price is also down by nearly seven percent.
The value of Ether also tailed BTC to register a fall of 4.60 percent. The asset is presently trading at $1,830, data by CoinMarketCap showed.
“Bitcoin dominance climbed to 58–60 percent, reflecting defensive positioning. ETH fell nearly two percent, underperforming as traders reduced high-beta exposure. Correlation with the Nasdaq remained elevated, though Bitcoin’s comparatively lower volatility reinforced its emerging macro-hedge profile,” Sathvik Vishwanath, Co-Founder and CEO, Unocoin told Coin Headlines.
XRP, BNB, Solana, Tron, and Cardano joined BTC and ETH in clocking price dips of under five percent. Dogecoin, Bitcoin Cash, and World Liberty Financial on the other hand logged losses within the range of seven percent to 12 percent over the last day, as per CoinMarketCap.
The overall crypto market cap fell by nearly four percent in the last 24 hours. At present the valuation of the market has come to $2.19 trillion.
“Strategy hinted at making their 100th purchase of Bitcoin, showing long-term conviction even during such market conditions. While accumulation trends continue among whales and public companies, the buying pressure is yet to impact the price movement,” said Akshat Siddhant, Lead quant analyst, Mudrex.
Analysts have pointed out that regulatory relief has added a constructive undertone to the market. The U.S. SEC, for instance, allowed broker-dealers to treat qualifying USD stablecoins as cash equivalents with just a two percent capital haircut, improving balance-sheet efficiency and institutional usability.
The score of 11 on the fear and greed index points to the sentiment of extreme fear among investors at present. Over the last 24 hours, over 130,150 investors were liquidated with the total liquidations hitting $361.8 million, as per CoinGlass.