Crypto Market Drops Sharply Today — May 28, 2025


$BTC $XRP $SOL

Bitcoin and Altcoins Fall:

Bitcoin (BTC) has dropped below $109,000, falling from a recent peak of around $110,000. Other major cryptocurrencies like Ethereum (ETH), XRP, and Solana also declined by up to 5% due to profit-taking and investor caution.

Reasons for the Market Drop:

Trump’s Tariff Threats: Former President Donald Trump announced a 50% tariff on products from the European Union, causing global market uncertainty and rapid sell-offs in crypto and other financial markets.

Michael Saylor’s Absence: Bitcoin advocate Michael Saylor warned against “proof-of-reserves” practices, suggesting they could pose risks to the crypto market.

Global Economic Concerns: Inflation fears and rising government debt levels have made investors seek safer assets like gold and government bonds instead of cryptocurrencies.

Current Prices:

Bitcoin is trading at about $108,981, Ethereum at $2,638.78, and XRP at $2.30.

Outlook:

Although Bitcoin is showing signs of becoming a "safe-haven" asset within crypto, economic and trade policy uncertainties continue to challenge investor confidence.