TL;DR
- Bitcoin fell below $75,000 over the weekend but partially recovered to $77,027, showing a -6.75% return in the last 24 hours.
- Over $1.36 billion was liquidated in just one day, heavily impacting leveraged investors, especially in BTC and Ethereum.
- The drop coincided with global recession fears triggered by new U.S. tariffs, dragging down both traditional and crypto markets.
This past weekend, the cryptocurrency market was hit by a strong bearish wave that coincided with a broad sell-off in global markets. Bitcoin (BTC) dropped sharply to $74,400, although at the time of writing this article it has partially recovered to $77,027.83, reflecting a 6.75% loss over the past 24 hours. Its market cap remains at a strong $1.52 trillion.
But Bitcoin wasn’t the only one to suffer. Altcoins like Ethereum, XRP, and Dogecoin experienced even steeper declines. ETH dropped 18% to $1,465, XRP plummeted 21.3% to $1.66, and Dogecoin fell nearly 20%, hitting $0.1315. The spike in volatility triggered widespread fear, dragging the entire crypto sector into the red.
Altcoins Bleed, But The Crypto Community Stands Firm
The general downturn unleashed a wave of mass liquidations. According to CoinGlass, more than $1.23 billion in positions were wiped out, including $430 million in BTC and $343 million in ETH, further intensifying the downward pressure. This domino effect exposed the high level of leverage present in derivatives markets.
However, from a pro-crypto perspective, many view this situation as a healthy correction in an overheated market. It’s not the first time this has happened, and experienced investors know that bear phases have historically offered excellent entry points for those who believe in the long-term power of the technology.
Recession, Tariffs, and Panic: Crash or New Opportunity?
The spark that ignited this financial storm was President Donald Trump’s announcement of new import tariffs, which immediately triggered fears of a global recession. Stock markets reacted with panic: Dow Jones futures plunged more than 1,500 points, while the Nasdaq and S&P 500 also fell sharply. In such an uncertain environment, cryptocurrencies, still considered risk assets, did not escape the storm.
Even though the market is going through a rough patch, Bitcoin remains a solid hedge for many against an increasingly fragile financial system. Its network is stronger than ever, and institutional adoption continues. In the long term, the fundamentals remain intact. Those who understand its value see this dip not as a threat… but as an opportunity.
