Why is crypto market crashing today? (26 Sep)
The post Why is crypto market crashing today? (26 Sep) appeared on BitcoinEthereumNews.com.
The total crypto market cap dropped over 2% in the past 24 hours to $3.85 trillion on Sep. 26 as Bitcoin fell below $109,000 threshold and more than $1.2 billion in liquidations hit the market. Summary The crypto market has fallen by over 2% in the past 24 hours. A fresh round of Trump tariffs contributed to the market downturn. Over $1 billion in long positions were liquidated from the crypto market. According to data from CoinGecko, only around 10 of the top 100 cryptocurrencies by market cap managed to remain in the green today, with major altcoins such as BNB (BNB) and Solana (SOL) recording losses of over 4% on the day. Today’s downturn extended weekly losses for major cryptocurrencies, with Bitcoin (BTC) down over 6.5% in the past 7 days, while other majors like Ethereum (ETH), XRP (XRP), and Dogecoin (DOGE) recorded double-digit losses of 13.2%, 10%, and 18.4% respectively, over the same period. A number of bearish catalysts were at play that triggered the market-wide sell-offs. Crypto markets were rattled today after United States President Donald Trump announced fresh tariffs this time on pharmaceuticals, big-rig trucks, home renovation fixtures, and furniture, which reignited concerns of a renewed global trade war and its spillover effects on risk assets. Trump’s tariff-related announcements have consistently led to heightened volatility for the crypto markets, as seen on multiple occasions throughout this year. This time, the trader sentiment was already fragile over fears that the Federal Reserve may not cut interest rates as the investors are expecting. In his latest appearance, Fed Chair Jerome Powell took a hawkish stance over the possibility of further rate cuts this year, while other Fed officials, including Beth Hammack and Austan Goolsbee, urged the bank to exercise caution when cutting rates. Their remarks have worked as…
