Bitcoin and Crypto Prices Plunge as Market Uncertainty Rattle Investors
Bitcoin and the broader cryptocurrency market have taken a sharp downturn, mirroring steep losses in the stock market following former President Donald Trump’s declaration of a global tariff reset—dubbed “Liberation Day”—which some analysts warn could spark a full-blown economic crisis.
Crypto Market Turmoil Ahead of Potential Congressional Shakeup
As Wall Street nervously anticipates a pivotal congressional decision on crypto regulation, traders are asking whether this sudden downturn is just a correction—or the start of a deeper market crash.
“Bitcoin recently lost the critical $79,000 to $80,000 support range, which had acted as a floor for the past month,” said Charlie Sherry, head of finance and crypto analyst at BTC Markets. “The next major support is near $72,000, which also served as the pre-election high.”
Over the last 24 hours alone:
Ethereum, XRP, Solana, and Dogecoin each dropped more than 15%
Bitcoin’s drop signaled broader bearish sentiment ahead of Monday’s trading session
Coinbase (COIN) and other crypto stocks remain under intense pressure
What BTC Traders Are Watching
Geoffrey Kendrick, head of crypto research at Standard Chartered, warned that crypto’s Sunday slide could be a grim forecast for equity markets:
“Sometimes crypto movements on Sunday tell you what stocks are going to do Monday. If that’s the case, Monday could be ugly.”
Looking forward, potential game-changers could include:
A policy pivot by Donald Trump on crypto or tariffs
Emergency monetary intervention by the Federal Reserve
Interest rate cuts, which could inject liquidity and ease recession fears
Last week, markets began pricing in the possibility of Fed rate cuts aimed at cushioning the U.S. economy, a move that could flood markets with dollars and potentially buoy crypto prices in the short term.
Key Takeaways:
Bitcoin and crypto markets are under pressure following Trump’s global tariff threats.
Bitcoin is down over 10% from recent highs; altcoins have dropped even more.
Analysts point to $72,000 as the next key support level for BTC.
Traders are watching Washington and the Fed for any signs of market rescue.
As uncertainty looms, the crypto market remains on edge—its fate hanging on both economic policy and investor sentiment in the days ahead.
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