The cryptocurrency market appears to be on the decline. Bitcoin (BTC) has dropped to the $76,000 level for the first time since November 2024. Global crypto market capitalization has declined 10.5% to $2.52 trillion over the past 24 hours. The crypto market rose to more than $3 trillion in late March. More than $0.5 trillion has been wiped out since last month.
Cryptocurrency and stocks are affected by Trump’s tariffs
Global stock markets are also making large-scale sales. The market crash is probably due to the brilliance of Trump’s tariffs. Major stock markets have witnessed stellar losses. Trump’s “liberation day” tariffs have led investors to lose a substantial amount. Cryptocurrencies and stocks face massive revisions as a result of the dip in emotion. It is also likely that the US will enter a recession within the next year.
Investors may gather on alternative assets to save value. Cryptocurrency markets could experience a surge in investments to escape the stock market crash. It is also possible that the Fed will soon announce interest rate cuts.
Top 3 Cryptocurrencies that could recover this week
1. Bitcoin (BTC)
BTC is the market leader. Other assets will not move unless the original cryptocurrency takes the lead. It is possible that BTC will see an increase in investment in the coming weeks as investors try to hedge their funds. If the Fed cuts interest rates, it can further support BTC prices.
2. Ripple (XRP)
Ripple’s XRP token is another cryptocurrency that could surge in the coming days. The SEC dropped its lawsuit against Ripple earlier this year. There doesn’t seem to be any barriers to assets. Investors can swarm up assets as an alternative.
3. Solana (Sol)
Sol is close to under $100. Low prices can attract investors to buy cryptocurrency. Sol’s influx could increase in the coming weeks. If the Fed announces interest rate cuts, assets could be converted.
