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Why Is Crypto Market Down Today, Will Trade War Trigger Major Crash Ahead?

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2 months ago

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The global crypto market tumbled again in the last 24 hours while investors didn’t even recover from DeepSeek AI and Bank of Japan’s rate hike-led market crash last Monday. Bitcoin and Ethereum prices are now down 6% and 8% in a week, respectively.

The macro factors wreaked havoc on the stocks and crypto markets again as Donald Trump decided to immediately sign the order to impose tariffs on Canada, Mexico, and China. As a result, the global crypto market cap tumbled more than 3% from $3.49 trillion to $3.35 trillion. It means more than $140 billion erased from the crypto market in just under 24 hours.

Moreover, the Crypto Fear & Greed Index has dropped from Greed to Neutral at 47 today, indicating negative sentiment continues to build among investors.

Bitcoin Price and Crypto Market Downfall Due to Trump Tariffs

US President Donald Trump declared a national emergency citing fentanyl and immigrants under the 1977 International Emergency Economic Powers Act (IEEPA). This gave President Trump power to sign an executive order imposing 25% tariffs on Mexico and Canada, as well as 10% tariffs on imports from China.

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As a result, Bitcoin and altcoins fell on concerns of a trade war risking higher prices for U.S. consumers. US PCE inflation data on Friday indicated that inflation has increased for three consecutive months. Notably, US stock indexes ended the week lower.

Besides, economists say blanket tariffs with multiple top trading partners are bad for the US, inflation, and lead to higher prices and layoffs. The decision has triggered a trade war as Canada, Mexico, and China retaliate.

Crypto Market Sees $700 Million in Liquidations

Coinglass data indicates over $700 million in crypto liquidations, with over 250K traders liquidated in the last 24 hours. The largest single liquidation order of ETHUSDT valued at $11.84 million happened on Binance.

It is important to note that the largest liquidation happened during the crypto market crash last Monday. An investor liquidated BTCUSDT valued at $98.46 million on crypto exchange HTX.

Nearly $520 million long and $80 million short positions were liquidated, with BTC, ETH, SOL, DOGE, XRP, TRUMP and RUNE leading the liquidations. In the last 12 hours, $350 million in longs were liquidated causing the crypto market to bleed.

Crypto Market Liquidations 4-Hr ChartCrypto Market Liquidations 4-Hr Chart
Crypto Market Liquidations 4-Hr Chart. Source: Coinglass

Experts Predict Crypto Market Correction

Crypto trader Skew predicts “short-term mayhem” in the crypto market as uncertainty around how far tariff bluffing will go. He used the term “bluffing” because these tariffs are unlikely to be the final standing percent due to retaliatory tariffs by Canada and other countries.

According to The Telegraph, hedge funds are betting big that the stock market to suffer a devastating crash due to tariffs by US President Donald Trump. Moreover, data from Goldman Sachs is sending shockwaves through financial circles, revealing a dramatic surge in ‘short’ positions against US stocks.

With the crypto market in the crosshairs due to Bitcoin ETFs and institutional interest, Bitcon price fell to a 24-hour low of $99,022. Whereas, ETH price tumbled more than 5% to a low of $3,069. Also, top altcoins XRP, SOL, DOGE, ADA, LINK and others have plunged more than 5% in the last 24 hours.

Meanwhile, the US dollar index (DXY) has jumped to 108.50 indicating a strengthening dollar. Also, the 10-year Treasury yield is spiking above 4.54%. Notably, BTC price usually moves in opposite to DXY and US Treasury yields.

A major selloff may happen only if Bitcoin price tanks below the $95K level. Traders are even staying away due to double-top pattern formation in the daily timeframe.

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space.

At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting.

Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Mantra (OM) Price Pumps As Founder Reveals Massive Token Burn Plan

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3 hours ago

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April 16, 2025

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The Mantra (OM) token price has surged after founder JP Mullin announced plans for a massive token burn. Mullin clarified that he intends to burn his personal team token allocation and implement a “comprehensive burn program for other parts of the OM supply.”

OM Pumps After Founder’s Burn Announcement

The OM token, which had experienced a major price drop over recent weeks, jumped from a low of $0.5115 to as high as $0.8706 following Mullin’s statement on X.

This announcement comes as OM has seen price drops of 87.0% over the past week. CoinGape has released a Mantra OM price prediction for April 2025, which could give you an idea of how the token can perform this month.

Mantra has initially shelved 300 million OM tokens for its team and core contributors. This accounts for 16.88% of the token’s nearly 1.78 billion total supply. These tokens are currently locked and were scheduled for a phased release between April 2027 and October 2029.

The planned burn could possibly take out a huge quantity of these tokens from the market for good. A decentralized vote could decide if all 300 million team token issuance needs to be burnt, as proposed by Mullin.

The announcement has been followed by various reactions from the Mantra community. Some members of the community believed that Mullin’s commitment was a positive development for token valuation, while others were concerned about having long-term issues.

Crypto Banter founder Ran Neuner warned against the move: “Burning the incentive may seem like a good gesture but it will hurt the team motivation long term.”

Mantra Refutes Allegations Following Price Collapse

Mullin’s token burn announcement comes at a difficult time for the project. The company has vehemently denied reports that it holds 90% of OM token supply. It has also rejected allegations of market manipulation and insider trading submitted by some community members.

Mantra explained that the latest price drop of OM occurred due to “reckless liquidations” and not due to anything the team had done. The recent history of the token indicates the size of this drop, with the charts reflecting a nearly 90% decline in value over the past month.

Major cryptocurrency exchanges OKX and Binance both experienced major OM trading activity immediately before the token’s collapse. However, both platforms have denied any wrongdoing in relation to the price crash. Binance mentioned that the crash was mainly due to cross-exchange liquidations.

They attributed the collapse to tokenomics adjustments that were made during October 2024 and abnormal market volatility that ultimately led to high-volume cross-exchange liquidations on April 13.

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Vignesh Karunanidhi

Vignesh Karunanidhi is a seasoned crypto journalist with nearly 7 years of experience in the cryptocurrency industry. He has contributed to numerous publications, including WatcherGuru, BeInCrypto, Milkroad, and authored over 10,000 articles

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Bitcoin & Others Slip As Trump Imposes Up To 245% Tariff On China

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8 hours ago

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April 16, 2025

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Crypto Market Update: The digital assets continue to bleed as the US President Donald Trump slapped up to 245% tariff on Chinese goods. The intensifying trade war and macroeconomic concerns have continued to weigh on the investors’ sentiment, wiping off the previous gains from the digital assets space. Bitcoin price today slipped more than 2% while ETH, XRP, SOL, DOGE, and Cardano prices fell between 4% and 7%.

Crypto Market Update: Trump’s 245% Tariff On China Sparks Concerns

The crypto market slipped today after US President Donald Trump escalated the long-standing trade war with China by imposing a fresh 245% tariff on a wide range of imports. According to a White House document released in the late US hours on Tuesday, the move targets critical minerals and related products, citing national security and economic resilience as key reasons.

Meanwhile, the fact sheet stated that China now faces tariffs of up to 245% following its “retaliatory actions” and lack of cooperation. However, this is not the first volley in the tariff saga, as it continued to dampen the crypto market sentiment over the past few weeks.

Trump’s Tariff On China

For context, it began with a 20% levy, followed by a 34% hike on April 2nd. As tensions grew, Trump raised the rate again, reaching 104%. In response, China imposed an 84% tariff on the US goods.

Trump responded by increasing the US tariff to 125%. However, it has excluded certain tech products from China, which has boosted market sentiment. However, just last week, China matched that level, lifting its tariffs to 125%. The situation escalated dramatically this week with the 245% blanket tariff.

The White House cited the need to protect America’s defense sector, tech advancement, and infrastructure. As per Reuters, China exports over $400 billion worth of goods to the U.S. annually — far more than any other country. The impact of this aggressive move is now spilling over into the financial sector, including the crypto market.

How Crypto Prices Are Performing?

The global crypto market cap lost more than 2.3% from yesterday to $2.63 trillion while its one-day volume fell 6% to $73.89 billion. Besides, the fear and greed index showed a reading of 29, indicating a “Fear” momentum hovering in the market.

Notably, BTC price today fell nearly more than 2.5% to $83,368.76, while ETH price fell about 5% to $1,566. On the other hand, XRP price today was down nearly 4% to $2.04 and SOL price slipped more than 3% to $124.89.

Simultaneously, Cardano price today slipped nearly 7% to $0.6032. In the meme coins segment, DOGE price was down around 5% to $0.1528 and SHIB’s value lost around 3% to $0.00001160.

Bitcoin Whale Continues To Dump Amid Crypto Market Woes

The recent slump in BTC price also comes as Bitcoin whales appear to be losing confidence in the asset’s potential amid an intensifying trade war. Besides, speculations are also high that the whales are booking profit, reflecting a waning risk bet appetite of the investors. The US vs China tensions amid Trump’s tariff policies have weighed on the investors’ sentiment, causing a massive selloff in the market.

Crypto Market: Bitcoin whale DumpCrypto Market: Bitcoin whale Dump
Source: Ali Martinez, X

For context, renowned analyst Ali Martinez recently highlighted the selling trend. In a recent X post, Martinez said “Whales have been taking profits during the recent rally.” According to him, the whales have offloaded more than 29,000 BTC from April 9.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Expert Reveals Current Status Of 9 Ripple ETFs

Published

9 hours ago

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April 16, 2025

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As the Ripple vs SEC lawsuit nears its conclusion, the anticipation surrounding XRP ETFs has reached a fever pitch. With multiple asset managers receiving green light from the US Securities and Exchange Commission (SEC), the community is eagerly awaiting the regulator’s approval.

Offering a closer examination of the XRP ETFs’ current status and their possible approval dates, expert All Things XRP shared a series of X posts. Let’s examine the expert’s views and the spot Ripple ETFs’ possible launch.

Expert Reveals Possible Dates for Spot XRP ETFs Approval

In a recent X post, All Things XRP, a Ripple expert, shared insights into the current status of all nine spot XRP ETFs. Top asset managers Bitwise, Canary Capital, and 21Shares have officially tossed their hats into the XRP ETF arena, with the US SEC acknowledging their applications.

While the XRP community is eagerly awaiting the SEC’s regulatory approval of the Ripple ETFs and their potential launch, All Things XRP revealed crucial dates. All nine XRP ETF applications have cleared the initial hurdle, receiving formal acknowledgment from the US SEC, and are now awaiting further review.

Bitwise, 21Shares, Grayscale & Canary To Receive Approval in May

According to All Things XRP, the ETF applications submitted by prominent asset managers like Bitwise, 21Shares, Grayscale, and Canary Capital are poised to receive approval in May 2025.

Bitwise

Reportedly, investment giant Bitwise applied for its spot XRP ETF on October 2, 2024 and received the SEC’s recognition on February 18, 2025. As cited by the expert, Bitwise is expected to gain regulatory approval for its ETF by May 18, 2025.

Canary Capital

Canary Capital’s XRP ETF application, filed on October 8, 2024, and acknowledged by the SEC on February 18, 2025, is pending approval, with an expected decision date of May 22, 2025.

21Shares

21Shares filed for a Ripple ETF on November 1, 2025. The firm received green light from the US SEC on February 14, 2025. As highlighted by the expert, 21Shares also expects a regulatory approval for its ETF by May 22, 2025.

Grayscale

Investment behemoth Grayscale, which filed to convert its XRP Trust into an exchange-traded fund on January 30, 2025, secured the SEC’s acknowledgement on February 14, 2025. The expert predicted that the SEC will legally approve the platform’s Ripple ETF by May 21, 2025.

Asset Managers Pushing for XRP ETF Approval in July-August

Furthermore, All Things XRP pointed out that asset managers like WisdomTree and CoinShares are expected to gain approval for Ripple ETF launch by August.

WisdomTree

Filed on December 2, 2024, WidsomTree’s XRP ETF received the SEC’s recognition on February 19, 2025. Reportedly, the asset manager will gain regulatory approval for its exchange-traded fund by July 2025.

CoinShares

CoinShares submitted its XRP ETF application on January 24, 2025. The SEC acknowledged the application on February 19, 2025. And now, the platform expects its ETF to be approved by the Commission by August 2025.

All 9 Will Be Approved By December, Says Expert

Moreover, the expert predicts that all nine ETFs will be approved in 2025. This development comes on the heels of increasing whale activity within the XRP community.

ProShares

ProShares filed and received recognition for its ETF on January 17 and March 3, respectively. Further, the ETF is expected to gain SEC’s approval by November 2025.

Volatility Shares

Volatility Shares applied to launch its XRP ETF on March 7, 2025. The SEC recognized it on March 24. The estimated approval date for the ETF falls by December 2025.

Franklin Templeton

Franklin Templeton filed to launch its Ripple ETF on March 11 and gained recognition on March 27. As per the expert insights, the platform is expected to gain regulatory approval for its ETF by December. Recently, NYSE Arca approved the listing and registration of Teucrium’s 2X Long Daily XRP ETF.

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Nynu V Jamal

Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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