Leading cryptocurrencies dipped on Sunday as investors remain cautious ahead of President Donald Trump's tariff "Liberation Day."
| Cryptocurrency | Gains +/- | Price (Recorded at 8:45 p.m. ET) |
| Bitcoin BTC/USD | -1.38% | $81,421.08 |
| Ethereum ETH/USD | -1.80% | $1,782.50 |
| Dogecoin DOGE/USD | -2.66% | $0.1637 |
What Happened: Bitcoin tumbled below $82,000 during the weekend, a sharp U-turn after hitting nearly $90,000 earlier in the week.
Ethereum also dipped below $1,800 after breaching $2,000 early in the week, marking a 9% decline.
The apex cryptocurrency was down 12.21% in the first quarter, on track to record its worst since 2018. Similarly, Ethereum sank over 45% this quarter. The last time it experienced such struggles was in 2018, when it fell by 46%.
Interestingly, Bitcoin's dominance reached a 4-year high of 61.2%, indicating increased rotation out of altcoins toward the leading digital asset.
Bitcoin's Open Interest dropped by 2.85% in the last 24 hours, suggesting weak speculative demand. The percentage of traders positioned short on BTC rose sharply vis-à-vis those betting on its price increase, according to the Long/Short Ratio.
"Fear" sentiment dominated the market, according to the Crypto Fear and Greed Index.
Top Gainers (24-Hours)
| Cryptocurrency | Gains +/- | Price (Recorded at 8:45 p.m. ET) |
| EOS (EOS) | +10.73% | $0.6 |
| Toncoin (TON) | +5.75% | $3.87 |
| Four (FORM) | +5.11% | $2.30 |
The global cryptocurrency market capitalization stood at $2.84 trillion, following a drop of 0.24% in the last 24 hours.
Stock futures were seen lower overnight on Sunday evening. The Dow Jones Industrial Average Futures slid 199 points, or 0.48%, as of 8:41 p.m. EDT. Futures tied to the S&P 500 dipped 0.78%, while Nasdaq 100 Futures fell 1.37%.
Uncertainty pervaded capital markets ahead of Trump’s highly touted "Liberation Day," a moment when “reciprocal” tariffs would be introduced against trading partners accused of taking advantage of low U.S. trade barriers.
The overhang has triggered a sharp decline in stocks this month, with the S&P 500 and Dow losing 6.27% and 5.15%, respectively.
The Dow Jones Industrial Average fell 155.09 points, or 0.37%, to close at 42,299.70. The S&P 500 slid 0.33%, ending at 5,693.31, while the tech-focused Nasdaq Composite dipped 0.53% to close at 17,804.03.
Investors likely reacted to Trump’s new 25% tariffs targeting foreign automakers.
See More: Best Cryptocurrency Scanners
Analyst Notes: Popular blockchain analytics firm CryptoQuant stated that seasonal market participants who were previously selling Bitcoin during local peaks have now shifted to accumulation and HODLing.
"The transition of experienced players into a holding (accumulation) phase signals the potential for further BTC growth in the medium term," CryptoQuant added.
Widely followed cryptocurrency analyst and trader Rekt Capital noticed that Bitcoin filled the CME gap area from $82,000 to $85,000 and was on track to form a new CME gap between $82,700 and $84,000.
"That CME gap will likely form between $82,700 and $84,000, which could set BTC up for a move into at least $84,000 next week," the analyst predicted.
CME gaps are the differences in price between the closing price on a given trading day and the opening price on the following trading day on a Bitcoin futures chart. They often act as strong support or resistance levels.
Photo by Avi Rozen on Shutterstock
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