A sale of crap of cryptocurrencies went from bad to brutal in the European morning hours on Monday, since Bitcoin performed the level of $ 75,000, extending losses in important tokens to almost 20%.
Tokens XRP, Solana (Sol) and Dogecoin (Doge) fell more than 5% in the hours of Europe, erasing tens of billions in market capitalization, driven by a cascade of macroeconomic uncertainty and aggressive liquidations that approached $ 1 billion.
The Coindesk 20 (CD20) index of wide base, which tracks the largest, collapsed tokens 12%, pointing out a feeling of generalized risk that grabs the sector.
XRP and Sol led the decrease, each of the more than 20% doses in the last 24 hours and broke under critical support levels. XRP, which is quoted to $ 1.70, has been reduced below its 200 -day critical mobile average, a key level of technical support, which increases the fears of a greater inconvenience towards $ 1.75.
Meanwhile, Sol fell below $ 100, violated its 50 -day mobile average and marked a 64% withdrawal from its maximum of all time. Doge, Meme Coin Darling, was not saved, falling 20% to $ 0.13, as a Coindesk analysis pointed out on early Monday.
The recent tariffs of the president of Donald Trump in the imports of Canada and Mexico, together with a 20% duplicate tax in China, have caused threats of retaliation.
China is reflecting the frontal -loaded stimulus to counteract these measures, which adds to the nerves of the market, as reported. Investors are fleeing risk assets for safe shelters such as gold, Japanese yen and the Australian dollar.
Meanwhile, merchants expect the reduction of the market to continue until the Asian day before the US Open
“Historically, cryptographic markets tend to be first generation of stock markets during the weekend, and this morning’s market decreases seem to have reinforced this belief,” said Jeff Mei, director of Operations of BTSE, to COINDESK in a Telegram message. “We hope that encryption markets are submerged once the US markets open.”
“Regarding whether or not they will recover, it depends on which large countries can ensure delays or short -term rate agreements this week. Until now, Vietnam, Cambodia and Taiwan have already pledged to reduce their own tariffs and/or increase US investment in exchange for relief, but we would need a larger commercial partner like Japan or China to make confidence to restore confidence in the markets,” he added.
Augustine Fan, Chief of Insights in Signalplus, said the current price action showed the behavior of the bears market.
“All signs suggest that Macro markets are now in ‘Bear Market’ mode, demonstrations will be sold and investors will be forced to accept this new reality against long -term bets that are made,” said Fan in a Telegram message. “The market will probably continue to frustrate and shake the investor’s confidence for quite longer.”
“In the long term, the graphics could argue that BTC has exploded against global actions and is late to catch up with the spot gold, but the catalysts seem to be fleeting at this time and risk management (that is, the lowest prices) will probably dominate until global stops fusion,” the fan pretended.
