Crypto Market Crashes up to 30% in Asian Hours on Monday Morning After the US Tariff Shook the Global Markets

Top crypto tokens including the likes of Bitcoin, Ethereum, Dogecoin, Solana, XRP, Cardano Tron and more were seen crashing up to 30 per cent in Asian

Top crypto tokens including Bitcoin, Ethereum, Dogecoin, Solana, XRP, Cardano Tron and more crashed up to 30 per cent in Asian hours on Monday morning after the US tariff shook the global markets. Other tokens including FLOKI, Filecoin, GALA, Celestia crashed 32-35 per cent.

The crypto prices have been on a free-fall lately as the spectre of a global trade war put investors on edge and pushed them out of risky assets, thanks to the US president Donald Trump's trade tariffs on select countries. Investors across the globe worry that tariffs can hurt growth, earnings and may stir the inflation higher.

Bitcoin plunged below $100,000.as the bears exerted huge pressure, flushing out nearly $500 billion from the markets. Altcoins, like Ethereum, XRP, Solana, Dogecoin, and many more faced an extensive price drop, said CoinDCX Research Team. "The crypto market's sell-off is said to be the aftermath of US President Donald Trump imposing 25 per cent tariffs or taxes on all goods imported from Canada and Mexico and 10 per cent from China, it said.

According to the data from Coinmarketcap, the total market capitalization barely managed to hold the $3 trillion mark, falling nearly 11 per cent over the last day. The total crypto market volume over the last 24 hours zoomed a whopping 175 per cent to $291.48 billion.

Bitcoin, the largest crypto asset tanked more than 6.35 per cent to sub-$93,500 levels. However, it tested lows of $91,250 in the last 24-hours. The total market capitalization of Bitcoin has slipped below the $1.85 trillion mark. Bitcoin has dropped nearly 15 per cent from all-time high at $109,114.88 hit about a couple of weeks ago.

The crypto market remains on a knife's edge amid global policies and changing investor sentiments. Donald Trump's imposed tariffs on Canada, Mexico and China which led to nearly $2 billion in liquidations in the crypto market as the whole crypto market is bleeding red, said Avinash Shekhar, Co-Founder & CEO, Pi42. "The fortunes of digital assets depend on the macroeconomic factors and confidence among investors," he said.

The steep fall in the altcoin prices pushed Bitcoin's dominance in crypto space to 61.50 per cent, about 3 per cent higher than the day ago. Among the top-10 crypto assets, Bitcoin was the only token posting a single digit fall, barring the altcoin whose value is pegged to the US dollar.

In the top 10 crypto basket, the second largest crypto asset Ethereum was down a sharp 20 per cent, with its mcap slipping below the $300 billion mark. Cardano was seen 28 per cent lower. XRP and Elon Musk backed Dogecoin crumbled 25 per cent each, wiping out one-fourth of their respective values while BNB plunged 16 per cent Solana was down 10 per cent.

Bitcoin is now consolidating between $91,200 and $94,800. While a short-term pullback is possible, a prolonged tariff war could ultimately boost Bitcoin as the dollar weakens, said Edul Patel, CEO and Co-Founder of Mudrex. "At this point, the reactions of other nations, particularly the UK and BRICS countries, will further shape market volatility. Investors should remain cautious, as additional tariffs may drive Bitcoin to around $89,000 before it recovers," he said.