The crypto market is experiencing a significant downturn driven by concerns over a potential trade war and disappointment in US government's crypto reserve plans.
Bitcoin has fallen nearly 4%, Ethereum down 10%, XRP down 4%, Solana down 7%, and Cardano down 8% as investors retreat from riskier assets.
Aggressive tariff policies imposed by the new US administration have raised fears of a trade war, pushing investors towards safer investments.
Disappointment over the lack of immediate buying pressure from formalizing a Bitcoin reserve and declining risk appetite have contributed to a 25% drop in the crypto market's total market cap.