Synopsis
Bitcoin fell below $77,000, and Ethereum reached a 16-month low on Tuesday as concerns over a potential U.S. recession grew. Major cryptocurrencies, including Bitcoin, Ethereum, Solana, XRP, Cardano, and Dogecoin, continued to lose value as fears mounted that escalating trade tensions could hurt U.S. economic growth.
Major cryptocurrencies, including Bitcoin, Ethereum, Solana, XRP, Cardano, and Dogecoin, extended their losses on Tuesday as concerns over U.S. economic growth intensified. Investors worried that escalating trade tensions could slow down the U.S. economy and push it into recession.
Market sentiment weakened further after former U.S. President Donald Trump, in a Fox News interview, spoke about a “period of transition” but avoided predicting whether his tariff policies could lead to a recession. His comments added to investor uncertainty, triggering declines across cryptocurrencies, stocks, and the U.S. dollar, while Treasury yields also fell.
As of 10:46 AM IST, Bitcoin dropped 3.2% to $79,937 after touching a day’s low of $76,624. Ethereum tumbled 7.5% to $1,911, while the global crypto market cap fell 4.3% to $2.6 trillion in the last 24 hours.
Crypto Tracker
TOP COIN SETSBTC 50 :: ETH 50-8.31% BuySmart Contract Tracker-11.37% BuyWeb3 Tracker-11.63% BuyDeFi Tracker-12.84% BuyNFT & Metaverse Tracker-13.97% BuyTOP COINS (₹) Bitcoin7,019,620 (-2.25%)BuySolana10,786 (-3.3%)BuyXRP185 (-3.35%)BuyBNB47,258 (-4.19%)BuyEthereum165,685 (-8.01%)BuyAmong altcoins, Solana lost 4%, XRP declined 3.5%, Cardano fell 3.2%, and Dogecoin slumped 8.5%.
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View Details »“The crypto market is seeing its major downturn with Bitcoin falling under $80,000 and Ethereum recording a 16-month low of around $1,800. Fears of a coming recession and the overall market sell-offs are spurring this pullback,” said Avinash Shekhar, Co-Founder & CEO, Pi42.
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Macroeconomic concerns, including inflation and interest rate policies, are driving volatility, not just in crypto but across risk assets, Shekhar said.
Edul Patel, Cofounder and CEO of Mudrex, said, “The upcoming Job Openings and Labor Turnover data would be crucial for bulls to take control. A positive outcome data could help BTC reclaim the $84,000 mark, maintaining its momentum above the 200-day moving average.”
Also Read: Trump’s Strategic Bitcoin Reserve plan: What’s next for crypto? Here’s what experts think
Bitcoin’s market capitalization slipped to $1.585 trillion, with dominance at 61.04%. Its 24-hour trading volume surged 53.14% to $58.13 billion, while stablecoin volumes accounted for 94.16% of total crypto trading at $145.85 billion, according to .
“Bitcoin’s ability to reclaim and hold $80,000 remains critical for overall market stability, with significant long liquidation levels positioned at $76,000 and $74,000, making them key downside targets if weakness persists,” said Vikram Subburaj, CEO of Giottus.
Also Read: Kiyosaki rejects Bitcoin ETFs: Why he prefers real BTC over paper assets
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
