Altcoin
BTC Slumps To $91K, ETH & Meme Coins Crash 20%
The global crypto market witnessed turmoil as the week kicked off, primarily in the wake of U.S. President Donald Trump’s new tariffs rattling broader markets. Bitcoin (BTC) price crashed as low as the $91K level on Monday, whereas altcoin prices dipped in sync. Simultaneously, the cryptocurrency sector recorded massive liquidations, underscoring investor uncertainty amid the rising heat of global trade wars.
Here’s a brief report on the most buzzworthy cryptocurrency market updates on February 3.
Crypto Market Slumps Amid Trade War Speculations With Trump’s New Tariffs
Following Donald Trump’s new import tariffs on Canada, Mexico, and China, global markets witnessed shockwaves as speculations of trade wars persist. In light of this saga, BTC & Altcoins showcased an alarmingly slumping action. Notably, ETH & leading meme coins lost roughly 20% value in the past 24 hours.
Further, the global cryptocurrency market cap dropped nearly 9.5% in value to $3.04 trillion over the past day. However, amid rising liquidations and selloffs, the total market volume rose by 182% to $286.91 billion.
Bitcoin Price Today Loses 5% Amid Broader Crypto Market Trend
Amid the broader market turmoil, BTC price witnessed a 5% dip to trade slightly above $94K as of press time. However, it’s notable that the coin’s intraday low and high were $91,242.89 and $100,485.89, respectively. Despite the falling action, BTC’s dominance was up 2.76% to 61.38%, indicating that alts have taken additional heat. Coinglass data indicated that the flagship crypto witnessed over $397 million worth of liquidations in the past 24 hours, aligning with the price drop.
Ethereum Price Dips Nearly 20%
ETH price witnessed an 18% decrease in value intraday and is currently trading at $2,551. The coin’s 24-hour low and high were $2,159.28 and $3,137.25, respectively. Even Ethereum mimics a crash in line with the broader trend as selloffs are on the rise. Lookonchain recently posted on X that an ETH whale that was dormant for over 6 years revived to sell all holdings right before the crash. Further, Coinglass data showed over $576 million worth of liquidations for the coin in the past 24 hours.
XRP Price Falls Below $2.5
XRP price plunged over 20% intraday and is currently sitting at $2.26. The coin’s 24-hour low and high were $1.95 and $2.92, respectively. XRP liquidations over the past day totaled $110.5 million, aligning with the broader crypto market trend.
Solana Price Slips 6%
Meanwhile, SOL price pulled back nearly 6% in the past 24 hours, reaching $197.46. The coin’s intraday bottom and peak were $180.41 and $215.54, respectively. Even SOL recorded $83 million worth of liquidations in the past 24 hours, per Coinglass data.
Meme Crypto Market Slumps In Sync
Dogecoin (DOGE) price fell by 22% in the past 24 hours, reaching $0.2326. Further, Shiba Inu (SHIB) price also tanked 21% intraday and is resting at $0.00001355. PEPE price crashed 26% to $0.000008983.
Overall, the meme coin market mirrors a bearish movement, aligning with the broader market trend.
Top Crypto Market Gainers Today
Some tokens have even defied the broader trend today by trading in the green zone:
Fartcoin (FARTCOIN)
Price: $0.7048
24-Hour Gain: +11%
Hyperliquid (HYPE)
Price: $22.76
24-Hour Gain: +2%
DeXe (DEXE)
Price: $21.34
24-Hour Gain: 1%
Top Crypto Market Losers Today
FLOKI
Price: $0.00008114
24-Hour Loss: -31%
Optimism (OP)
Price: $0.9035
24-Hour Loss: -31%
Filecoin (FIL)
Price: $2.95
24-Hour Loss: -30%
As mentioned above, the market’s slumping action aligns with investor uncertainty amid Trump’s new tariffs. In turn, the cryptocurrency sector has recorded over $2 billion worth of liquidations in the past 24 hours, per the Coinglass liquidation heat map. Market watchers remain uncertain at the moment, with some expecting recovery whilst others reflecting a bearish stance on future movements.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
✓ Share: