Big earthquake in the cryptocurrency circle! BTC, SOL, and XRP all lost 20%

As global financial markets are rocked by escalating trade tensions, Bitcoin (BTC) and major altcoins are collectively taking a dive.

The price of BTC once fell below the key support of $75,000. Popular altcoins such as Solana (SOL), Ripple (XRP), and Dogecoin (DOGE) have all plummeted by about 20% in the past 24 hours.

This sudden waterfall market trend directly broke through multiple technical supports, and market sentiment suddenly cooled. There may be a risk of further decline in the short term, which has attracted widespread attention from traders and hodlers.

XRP fell below its key 200-day moving average and is currently hovering around $1.70, a level that traders view as an important reference for determining trend momentum. As bearish sentiment spreads, the market begins to be wary of a deeper correction.

At the same time, SOL also lost the psychological level of $100 and fell below its 50-day moving average, with a retracement of 64% from its historical high.

The representative meme coin Dogecoin (DOGE) also could not escape the selling pressure, and its current price has fallen back to $0.13, suffering a bloodbath.

Analysts pointed out that behind this round of massive sell-off is the resonance of multiple negative factors at the macro level, including the increasing uncertainty caused by US trade policies, the wave of forced liquidation, and the rising risk aversion among investors.

The Trump administration's latest "tariff nuclear bomb package" has caused strong market shocks: not only will it impose a 25% tariff on imported cars, it will also set a minimum tax rate of 10% on all imported goods, while also imposing "reciprocal tariffs" on countries that are "unfair to the United States."

This series of policies quickly stirred up global markets, with funds accelerating the withdrawal of funds from high-risk assets (such as cryptocurrencies) and pouring into traditional safe havens such as gold and the Japanese yen.

In response to this, Bill Ackman, a well-known hedge fund manager and Trump supporter, made a rare statement and publicly called on the government to suspend the tax increase for 90 days. He warned that if the current path continued, the US economy could face a "nuclear winter."

Many economists have also issued warnings: This "one-size-fits-all" tax increase strategy may not only undermine international cooperation, but also severely damage the investment confidence of local companies.

As market concerns about a long-term trade war continue to intensify, FUD sentiment has begun to spread in the crypto market, causing capital outflows and market pressure, and even on-chain sentiment has fallen into an "extreme panic" range.

Crypto markets suffered a brutal correction on a day dubbed “Black Monday,” with total liquidations exceeding $1.36 billion in the past 24 hours.

As Trump announced "Liberation Day" tariffs, the decline in global stock markets dragged down the crypto market.

According to data from CoinGlass, traders who are long futures have suffered the heaviest losses during the market turmoil. More than $1.2 billion in long bets were wiped out, with Bitcoin long liquidation losses exceeding $392 million.

Cryptocurrency isn’t the only market to suffer a sell-off. U.S. stock futures also fell sharply on Sunday evening, further fueling concerns about a broader market crash.

S&P 500 futures fell 5.98%, Nasdaq 100 futures fell 6.2%, and Dow Jones futures fell 5.5%, all pointing to a chaotic start to the new week of trading.

The sharp sell-off came amid heightened macroeconomic uncertainty, escalating trade tensions and investor concerns about sweeping tariff orders issued by President Trump.