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Bitcoin crypto market cap dominance spikes as Trump trade war fears take over; altcoins see “capitulation wicks.”
Over 730,000 traders faced liquidations as Ether led the market plunge. Analysts compared the impact with the FTX collapse and COVID-19 crash.
Canada, Mexico and China promised “retaliatory measures” for Trump’s tariffs, which “heightened investor anxiety,” leading to the crypto market downturn, analysts told Cointelegraph
Metaplanet, OSL Group and Boyaa led the crypto stock downturn as Bitcoin fell to $91,163 amid broader market fears over tariff trade wars.
Grayscale Investments saw its crypto ETF outflows increase by 140% last week, while BlackRock’s inflows slowed significantly.
Circle’s USDC was the most dominant stablecoin on Solana, accounting for nearly 80% of all stablecoins on the network.
According to CoinMarketCap, Bitcoin’s price fell by an estimated 7.3% over the last seven days — faring better than most altcoins.
Bitcoin price lost the $100,000 level, and altcoins continued to sink lower. Will OM, XMR, MNT and GT lead the recovery?
“This is undoubtedly my highest conviction macro trade for the year,” Bitwise executive and analyst Jeff Park wrote on social media.
Utah’s Bitcoin reserve bill could be the first of its kind to pass at the state level in the US because of its shorter legislative window to decide on bills, says a Bitcoin advocate.
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