The international crypto market witnessed turmoil because the week kicked off, primarily within the wake of U.S. President Donald Trump’s new tariffs rattling broader markets. Bitcoin (BTC) value crashed as little as the $91K degree on Monday, whereas altcoin costs dipped in sync. Simultaneously, the cryptocurrency sector recorded huge liquidations, underscoring investor uncertainty amid the rising warmth of world commerce wars.
Here’s a short report on essentially 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, international markets witnessed shockwaves as speculations of commerce wars persist. In gentle of this saga, BTC & Altcoins showcased an alarmingly slumping motion. Notably, ETH & main meme cash misplaced roughly 20% worth up to now 24 hours.
Further, the worldwide cryptocurrency market cap dropped almost 9.5% in worth to $3.04 trillion over the previous day. However, amid rising liquidations and selloffs, the whole market quantity 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 commerce barely above $94K as of press time. However, it’s notable that the coin’s intraday high and low have been $91,242.89 and $100,485.89, respectively. Despite the falling motion, BTC’s dominance was up 2.76% to 61.38%, indicating that alts have taken further warmth. Coinglass knowledge indicated that the flagship crypto witnessed over $397 million value of liquidations up to now 24 hours, aligning with the worth drop.
Ethereum Price Dips Nearly 20%
ETH value witnessed an 18% lower in worth intraday and is presently buying and selling at $2,551. The coin’s 24-hour high and low have been $2,159.28 and $3,137.25, respectively. Even Ethereum mimics a crash in keeping with the broader pattern as selloffs are on the rise. Lookonchain not too long ago posted on X that an ETH whale that was dormant for over 6 years revived to promote all holdings proper earlier than the crash. Further, Coinglass knowledge confirmed over $576 million value of liquidations for the coin up to now 24 hours.
XRP Price Falls Below $2.5
XRP price plunged over 20% intraday and is presently sitting at $2.26. The coin’s 24-hour high and low have been $1.95 and $2.92, respectively. XRP liquidations over the previous day totaled $110.5 million, aligning with the broader crypto market pattern.
Solana Price Slips 6%
Meanwhile, SOL value pulled again almost 6% up to now 24 hours, reaching $197.46. The coin’s intraday backside and peak have been $180.41 and $215.54, respectively. Even SOL recorded $83 million value of liquidations up to now 24 hours, per Coinglass knowledge.
Meme Crypto Market Slumps In Sync
Dogecoin (DOGE) value fell by 22% up to now 24 hours, reaching $0.2326. Further, Shiba Inu (SHIB) value additionally tanked 21% intraday and is resting at $0.00001355. PEPE value crashed 26% to $0.000008983.
Overall, the meme coin market mirrors a bearish motion, aligning with the broader market pattern.
Top Crypto Market Gainers Today
Some tokens have even defied the broader pattern as we speak by buying and selling within the inexperienced 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 talked about above, the market’s slumping motion aligns with investor uncertainty amid Trump’s new tariffs. In flip, the cryptocurrency sector has recorded over $2 billion value of liquidations up to now 24 hours, per the Coinglass liquidation warmth map. Market watchers stay unsure for the time being, with some anticipating restoration while others reflecting a bearish stance on future actions.
Coingape Staff
CoinGape includes an skilled workforce of native content material writers and editors working around the clock to cowl information globally and current information as a truth slightly than an opinion. CoinGape writers and reporters contributed to this text.
Disclaimer: The offered content material could embrace the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty on your private monetary loss.
