Bitcoin, Dogecoin, Ethereum, XRP, Solana: Crypto tokens crash up to 22% today

In tandem to the global equity markets, crypto assets also bled on Monday. From Bitcoin to Ethereum and Dogecoin to Solana, all major crypto tokens were in deep red for the day, falling as much as 22 per cent, amid the global market meltdown in Asia and Europe in the aftermath of Trump’s tariff announcement.

Bitcoin tumbled more than 10 per cent in the last 24 hours to $74,436.68 mark, slipping below $75,000 mark, with its total market capitalization slipping below $1.5 trillion. The largest crypto asset has cracked nearly 33 per cent from its all time high $109,114.88, according to the data from Coinmarketcap.

Among other tokens, Ethereum, the second largest crypto asset, tumbled more than 21 per cent in the 24-hours period to $1,415.37 mark on Monday, with its market capitalization slipping below $180 billion mark. XRP crashed about 22 per cent $1.64 for the day, while Dogecoin, Solana and Cardano slumped 20 per cent each.

Global markets are facing a broad sell-off, which has spilled into crypto, pushing Bitcoin below the $80,000 mark and hitting altcoins even harder, said Edul Patel, Co-founder and CEO of Mudrex. "Investor sentiment remains weak, edging towards ‘extreme fear’ levels.

"However, a potential bright spot lies ahead as US federal agencies are expected to disclose the US’s crypto holdings later today. A sizable confirmation could trigger a relief rally. For now, Bitcoin needs to reclaim the $80,000 mark or it risks retesting its previous all-time high near $74,000," he said.

Investor sentiments continue to remain jolter in the riskier asset classes, across the board, and crypto is no exception. Bitcoin and other altcoins saw long waves of heavy liquidation over the last few days. Even in the last 24 hours, tokens worth $155.52 billion have exchanged hands, signalling a rampant spike of 270 per cent, data coinmarketcap data said.

The current state of the crypto market reflects a classic risk-off scenario, with global macroeconomic uncertainty—particularly renewed tariff tensions sparked, triggering broad-based sell-offs across digital assets, reflecting high liquidation and panic-driven activity, said Riya Sehgal, Research Analyst at Delta Exchange.

The total global market capitalization of crypto assets crumbled more than 10 per cent, slipping below $2.4 trillion mark. Crypto investors have seen domination of Bitcoin rising to 62.86 per cent on Monday. Traders are now moving towards stablecoins, whose value is fixed in parity with a major currency, say US dollar.

The crypto market faces adverse effects due to the uncertainty driven by new US trade tariffs, which have also led to a sharp decline in the markets. Most of the cryptos are facing double-digit losses, hinting at the beginning of a bear market, said CoinDCX Research Team.

The crypto market has been beaten blue and red ever since the US President Donald Trump announced reciprocal tariffs on all major economies on April 2, celebrating the 'Liberation Day' in the US. Global economies have taken a major hit post the heavier-than-expected tariff announcements.

Through such turbulence, some of the altcoins may find reason to outgrow. Yet incessant pressure emanating from worldwide financial anxiety and short-term sales may continue challenging Bitcoin's backbone as well as the overall marketplace's stability, said Avinash Shekhar, Co-Founder & CEO at Pi42.