📉 Ether Hits Its Biggest Drop in Years
📉 Ether Hits Its Biggest Drop in Years
💥 Ether (ETH): Fell 26.53% to $2,135, according to Bloomberg. This is the cryptocurrency's worst drop since May 2021.
📉 Bitcoin (BTC): Devalued 8%, trading at US$ 92,000, dragging the market down.
📉 Solana (SOL): Lost 13%, trading at US$ 184.
📉 XRP: Suffered a 28% drop, plummeting to $1.82, well below its high of $3 reached just a month ago.
The big question is: 📊 is this just a market correction or a harbinger of a deeper collapse?
⚠️ Trade War and Investor Reaction
📢 What happened?
Donald Trump announced new 25% tariffs on products imported from Canada and Mexico. This measure was interpreted as a sign of global economic instability, directly impacting the financial and crypto markets.
📰 The Wall Street Journal strongly criticized the move, calling it “the Dumbest Trade War in History.”
💬 Trump hit back on Truth Social, saying anyone who opposes the tariffs is aligned with China.
The question that remains is: 🌎 are cryptocurrencies increasingly correlated with global political and economic decisions?
The cryptocurrency market faced a turbulent day, with major digital assets seeing significant drops in both the US and Asia. The extreme volatility was driven by economic uncertainty and the announcement of new trade tariffs by former President Donald Trump.
🐶 Dogecoin (DOGE): Dropped 14%, accumulating a 45% drop since Trump's election victory.
💰 TRUMP (memecoin): Dropped 12%, reinforcing the fragility of these assets.
📉 CoinDesk 20 (CD20): Index tracking the top 20 crypto assets fell 21%.
🤔 Do memecoins still have a future or are they just bubbles about to burst?
💀 The Liquidation Massacre
📊 Coinglass data shows that:
💸 $1.3 billion in long positions were liquidated in just 12 hours.
🔥 ETH lost $400 million, being the biggest victim of the day.
🔥 BTC wasn't far behind, with $300 million in positions wiped out.
💰 World Liberty, the Trump family's crypto project, lost $51.7 million, including:
🔻 ETH: -24.4% (-$36.7 million)
🔻 WBTC: -12.1% (-US$8 million)
🔻 ENA: -43.7% (-US$2.05 million)
💥 Ether (ETH): Fell 26.53% to $2,135, according to Bloomberg. This is the cryptocurrency's worst drop since May 2021.
🔺 $310 million in on-chain loan liquidations.
📉 Bitcoin (BTC): Devalued 8%, trading at US$ 92,000, dragging the market down.
🔺 wBTC: $49.2 million liquidated.
🚨 With such significant losses, the question remains: are we seeing a healthy market cleanup or an imminent collapse?
🔮 What Now? The Future of the Crypto Market
📉 Other cryptocurrencies that recorded losses:
🔻 Cardano (ADA)
🔻 Avalanche (AVAX)
🔻 Chainlink (LINK)
🧐 With so many fluctuations, the moment requires caution. Some analysts believe that this could be a buying opportunity for experienced investors, while others warn of the risk of a prolonged bear market.
🔮 The future of cryptocurrencies will be determined by three main factors:
1️⃣ Global policy and trade tariffs 📊
2️⃣ Liquidity and regulation ⚖️
3️⃣ Investor confidence 💰
🔥 And you, do you think this drop is a buying point or a warning sign? Leave your opinion in the comments!
🔔 Stay tuned for upcoming updates on the crypto market and its movements! 🚀
