Leading cryptocurrencies suffered a bloodbath on Sunday as concerns over President Donald Trump’s tariff policies deepened.
| Cryptocurrency | Gains +/- | Price (Recorded at 8:30 p.m. ET) |
| Bitcoin (CRYPTO: BTC) | -6.38% | $78,099.39 |
| Ethereum (CRYPTO: ETH) |
-12.90% | $1,575.63 |
| Dogecoin (CRYPTO: DOGE) | -12.50% | $0.1478 |
What Happened: Bitcoin tanked to an intraday low of $77,097.74 before clawing back to $78,000. Ethereum experienced a bigger rout, slipping below $1,600 for the first time since Oct. 2023.
The two heavyweights recorded a 179% and 272% jump in trade volume, respectively, signaling significant selling pressure.
Sunday’s dip came after cryptocurrency prices remained relatively stable on Friday during a period of intense stock market volatility.
Over $871 million was liquidated from the market in the last 24 hours, with nearly $750 million in longs erased.
Bitcoin’s Open Interest fell by 0.33% in the last 24 hours, while funds locked in Ethereum’s futures sank 8%.
Interestingly, traders appeared to be buying the dip, as the number of Bitcoin longs exceeded shorts as of this writing, according to the Long/Short Ratio.
The market sentiment went back …