Is this biggest down trend in starting of the year?

Yes, today's downturn is the most significant in the cryptocurrency market for 2025 so far 📉. The market experienced a substantial decline, with approximately $500 billion wiped off its value 💸. Bitcoin fell by 4.1% 📉, reaching around $95,400, while Ethereum dropped by 17% to about $2,577 😨.

This decline surpasses previous downturns this year, both in terms of market capitalization loss and the scale of liquidations. Over $2.2 billion in leveraged positions were liquidated 💥, marking the largest single-day liquidation event of 2025.

The downturn was triggered by President Donald Trump’s announcement of new tariffs on imports from Mexico, Canada, and China 🇲🇽🇨🇦🇨🇳, leading to fears of a global trade war 🌍⚠️ and causing investors to move away from riskier assets, including cryptocurrencies 🚀➡️💨.