đš BREAKING: Global #CryptoMarket Suffers 4.42% Drop Amid Tariff Turmoil and Political Backlash đŽ
The global #cryptocurrency market fell 4.42% to $2.23 trillion in the past 24 hours.
Community discussions turned political, with many traders blaming President Donald #Trump for âruining the bull runâ and claiming the market performed better under President Joe Biden. Critics allege Trump and his family acted in ways that hurt the crypto ecosystem for personal gain.
đ€Ż #Bitcoin slid 4.1% to $65,073, with over $14.22 million in liquidationsâmostly long positions ($12.79M). #Ethereum dropped 5.39% to $1,865 after Vitalik Buterin sold 1,716 ETH in the past day.
The Fear & Greed Index fell back to 14, marking another day of extreme fear that has persisted throughout February. Funding rates also turned negative, signaling forced closures of leveraged long positions.
Altcoins were hit even harder, with $ZRO down 13.64% and $PUMP losing 10.05%, indicating no sector rotation to cushion the decline.
The sell-off was triggered by renewed concern over U.S. trade tariffs. On Saturday, Trump announced he would raise the global tariff from 10% to 15%, unsettling markets and fueling broader risk aversion. Following the post, the U.S. dollar and stock futures fell, while Asian equities posted modest gains on Monday.
