A company that is changing the way the world mines bitcoin

coinpedia 2025-02-03 00:55:26

Red Alert: Crypto Markets Crumble as $1.18 Billion Vanishes in 24 Hours

The post Red Alert: Crypto Markets Crumble as $1.18 Billion Vanishes in 24 Hours appeared first on Coinpedia Fintech News Cryptocurrency markets are in the red today, with major coins experiencing major price declines. Bitcoin (BTC) is currently priced at $96,636.4, down by 4.52%, while Ethereum (ETH) sits at $2,826.76, showing a 10.28% drop. Solana (SOL) is trading at $198.03, down 8.48%. Meanwhile, altcoins like XRP and Dogecoin (DOGE) are facing even steeper losses, with XRP at $2.32 (-20.62%) and DOGE at $0.2526 (-19.05%) in the last 24 hours. The overall market capitalization has dropped to $3.21 trillion, down by 6.50%. The Fear & Greed Index is at 47, signaling fear in the market, while the CMC100 index is down 8.07%, now sitting at $195.19. Bitcoin continues to dominate the market with a dominance of 59.89%, followed by Ethereum at 10.64%. The downturn in cryptocurrency prices coincides with increased geopolitical tensions, particularly the new tariffs imposed by the U.S. on several countries. These trade tensions, along with ongoing economic uncertainty, are causing investors to shift their portfolios away from risk-heavy assets like cryptocurrencies. Over the weekend, Trump announced new tariffs on Mexican, Canadian, and Chinese imports, adding to the already fragile global trade environment. Liquidation Heatmap Shows Significant Losses As of the latest 4-hour liquidation heatmap, the total liquidations across multiple exchanges have reached staggering amounts. Ethereum (ETH) leads the way with over $111 million in liquidations, followed by Bitcoin (BTC) at $62 million. Other cryptocurrencies such as XRP, Dogecoin (DOGE), and Solana (SOL) have also seen considerable liquidation volumes. In the past 24 hours, the total liquidations have reached $1.19 billion. ‘