Today’s crypto market is showing a strong bearish trend. The Fear & Greed Index has dropped to 17, indicating extreme fear and uncertainty in the market. Bitcoin’s dominance has increased to 63.80%, showing that its influence remains strong. However, the total market cap has decreased to $2.35 trillion, showing a -4.41% decline, and the altcoin market cap has dropped to $0.85 trillion, reflecting a -5.66% loss. This indicates a bearish sentiment in the market.
Bitcoin (BTC) has dropped to $74,933.28, showing a -9.89% decline. BTC has broken major support levels, and if the price falls below $75,000, further bearish movement could occur. Ethereum (ETH) has dropped to $1,433.02, showing a -20.46% significant drop. ETH has broken the $1,500 support level, and if the price falls below $1,400, further declines could follow.
$SOL (SOL) has dropped to $96.76, showing a -19.23% decline. Solana needs to hold the $100 support level, or further losses may follow. Binance Coin (BNB) has dropped to $524.46, showing a -11.37% decline. BNB is showing weakness, and if the price falls below $530, further losses may occur.
$XRP has dropped to $1.66, showing a -21.63% significant decline. XRP has shown a significant drop, and if it falls below $1.60, further declines could follow. Dogecoin (DOGE) has dropped to $0.13, showing a -20.70% major decline.
$DOGE has broken the $0.15 support level, and if the price falls below $0.10, the bearish trend may continue.
U.S. President Donald Trump’s trade war and China’s retaliatory tariffs have caused significant turmoil in global markets. Asian markets have taken a major hit, with Japan’s Nikkei falling over 8%, while Hong Kong’s Hang Seng Index dropped by over 12%. China’s markets also saw significant declines, with major tech companies like Alibaba and Tencent suffering heavy losses.
Trump’s decision to impose a 34% tariff on Chinese goods, followed by China’s retaliatory actions, has intensified the trade war, triggering panic in global markets. This has led to widespread declines in stock markets, with commodities like oil and gold also experiencing losses.
The U.S. stock market has also been facing sharp declines, with futures indicating further losses. Trump’s tariffs, particularly the 34% tariff on Chinese goods, have triggered reactions worldwide, and the market is still reeling from the effects of these policies.
These global tensions are contributing to the bearish sentiment in the crypto market, which is already facing significant declines.
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