The crypto market faced a massive meltdown early Monday as an intense selloff in Asia triggered a brutal chain reaction. Within hours, over $900 million was liquidated, with Bitcoin (BTC) crashing to $77,000 and altcoins like Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) dropping between 7% and 16%.
The dramatic correction was driven by rising global uncertainty, fueled by Donald Trump’s renewed trade war, which sent shockwaves through both traditional and digital asset markets — once again highlighting how fragile investor confidence can be.
🔻 Bitcoin Under Pressure: Is the "Digital Gold" Narrative Cracking?
Over the past 24 hours, Bitcoin lost 6.9%, now hovering near the key support level of $77,500. Trading volume surged by over 220%, exceeding $44 billion, as panic gripped the market. According to Coinglass, BTC liquidations alone hit $322 million in the past day.
Technical analysts view $77,500 as a critical support zone — if it breaks, deeper losses could follow.
While BTC showed resilience last week during the Dow Jones crash, it's now down 7%. Meanwhile, traditional safe havens like gold and silver are soaring, reigniting the debate: Is Bitcoin really "digital gold," or just another risky asset?
🗣️ Criticism vs. Confidence: Schiff Fires Shots, Bulls Hold Steady
Infamous crypto critic Peter Schiff didn't miss his chance to comment:
“After a delayed response on Friday, crypto is finally cracking. Ethereum is at its lowest since October 2023, down 65% from its peak, and Bitcoin just dropped below $81K, breaking last week’s low. ETF holders are in for a rough day.”
But others remain optimistic. Hunter Horsley, CEO of Bitwise Investments, argued:
“As nations trust each other less and businesses face more barriers, a global, apolitical, digital store of value — not controlled by any country — becomes more compelling. Bitcoin’s role has never been more vital.”
🔻 Altcoin Carnage: ETH, SOL, DOGE Break Key Support Levels
Altcoins took even heavier hits than Bitcoin:
🔹 Ethereum (ETH) plunged 13.5% to $1,550, extending its 2025 losses to over 53%.
🔹 Some analysts warn ETH could dip into the $1,100–$1,300 range.
🔹 However, on-chain data from Spot On Chain shows whales are accumulating the dip.
Other altcoins followed suit:
🔹 XRP fell 14.5%, slipping below $2, with analysts targeting a drop to $0.65.
🔹 Solana (SOL) dropped 14% to $102,
🔹 Dogecoin (DOGE) crashed 16% to $0.143.
📉 What Comes Next?
Market tension is escalating. Trump’s aggressive tariff policy is raising the risk of a U.S. recession, and crypto investors are scrambling for clarity. While some panic, others believe this is a defining moment for decentralized finance.
The big question: Can Bitcoin maintain its role as a safe-haven digital asset — or will it fall alongside altcoins in the next wave?
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