Catenaa, Thursday March 13, 2025- The cryptocurrency market saw a sharp 6% decline on Tuesday, mirroring broader market losses amid growing investor concerns over President Donald Trump’s trade policies. Fears of an economic slowdown intensified as tariffs on key trading partners—Canada, Mexico, and China—sent shockwaves through global markets.
Bitcoin fell 3.4% to $79,415, while Ether dropped 9.4% to $1,963. Other major cryptocurrencies like XRP and Dogecoin saw losses of 6.5% and 10%, respectively. The downturn in the crypto sector mirrored the broader market collapse, with the S&P 500 losing nearly 3% and erasing all post-election gains.
Despite the introduction of the Strategic Bitcoin Reserve, meant to calm market jitters, the sell-off continued. The reserve, based solely on seized Bitcoin rather than fresh purchases, failed to alleviate investor anxieties, triggering further declines in digital asset prices.
Over the past 24 hours, crypto liquidations totaled $939 million, impacting 331,426 traders. Bitcoin and Ethereum led the liquidation wave, with over $315 million and $245 million in losses, respectively.
Experts warn the market could remain volatile, especially with ongoing trade disputes and concerns of an impending U.S. recession. Analysts suggest the current market may shift into a medium-term bearish phase, driven by growing pessimism in both the crypto and equity markets.
