Why Is the Crypto Market Down Today?

1. Macroeconomic Uncertainty and U.S. Tariffs

The introduction of heavy tariffs under the Trump administration has introduced a new layer of uncertainty to the global economy, impacting investor sentiment across various markets, including cryptocurrencies.

2. Profit-Taking After Recent Highs

Following a sharp rally over the past three weeks, the cryptocurrency market is entering a consolidation phase. Bitcoin has shown resilience even as Ethereum,$ETH

XRP,$XRP

and Dogecoin edge lower, suggesting that some investors are locking in profits after recent gains.

Benzinga

Current Market Snapshot

As of May 21, 2025, the cryptocurrency market is experiencing a period of consolidation. Bitcoin$BTC

is trading at approximately $106,424, XRP at $2.35, and Solana at $168.76. Investors are closely monitoring macroeconomic indicators and market developments to inform their trading strategies.Benzinga