The cryptocurrency market plummeted on Tuesday making Bitcoin, Ethereum, Shiba Inu, and Dogecoin crash double-digits. The crash comes after $1.07 billion worth of funds were liquidated from the markets late Monday. This made leading altcoins fall in the charts ahead of the upcoming Crypto Summit which will be hosted at the White House. Read here to know complete details about the Crypto Summit which will be a first-of-a-kind hosted by the US government.
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JUST IN: $1,070,000,000 liquidated from the cryptocurrency market in the past 24 hours.
— Watcher.Guru (@WatcherGuru) March 4, 2025
Cryptocurrency: Bitcoin, Ethereum, Dogecoin, and Shiba Inu Remain Under Pressure
Bitcoin is down 10% on Tuesday and is hovering around the $84,00 mark while Ethereum dipped by nearly 14%. ETH is moving around the $2,090 range and is at risk of falling to the $1,900 level. In addition, leading meme coins Shiba Inu and Dogecoin are also trading in deep red with little to no signs of recovery.
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Ethereum, Bitcoin, Dogecoin, and Shiba Inu are among the most sought-after cryptocurrencies in the market. The four cryptocurrencies have a massive investor and fan base which is larger than life. Traders await for dips in these four assets and take entry positions while prices are low.
However, the ongoing downturn has made investors fearful as Trump’s tariffs on China and Canada take effect from Tuesday. Canada faces 25% tariffs on goods entering the US while China is slapped with 10% tariffs. The US stock market reacted harshly on Monday as Dow Jones closed 650 points in the red. The Nasdaq index fell by 500 points while the S&P 500 plummeted by more than 100 points. The stock market crash slipped into the cryptocurrency market making Bitcoin, Ethereum, Dogecoin, and Shiba Inu tank.
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However, if the cryptocurrency market recovers, Bitcoin, Ethereum, Dogecoin, and Shiba Inu will be the first ones to rally. Trades take an entry position in these when the market surges as they deliver the desired results.
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