Overview
The cryptocurrency market experienced significant volatility early Monday, with Bitcoin (BTC) dropping to $93,000 following U.S. President Donald Trump's announcement of strict tariffs on multiple nations. Altcoins like Ethereum (ETH), Solana (SOL), and Ripple (XRP) mirrored the downturn, reflecting a broader market fear index of 39/100. Fartcoin emerged as the top gainer (+18%), while Filecoin led losses (-31%). Global crypto market capitalization fell 10.9% to $3 trillion.
Key Market Movements
Bitcoin (BTC)
- Price: $93,645.02 (-6.62%)
- India Price: ₹81.30 lakh
Ethereum (ETH)
- Price: $2,473.68 (-20.22%)
- India Price: ₹2.16 lakh
Top Altcoins
| Crypto | Price | 24-Hour Change |
|---|---|---|
| Dogecoin | $0.2313 | -23.81% |
| Litecoin | $93.59 | -19.62% |
| Ripple | $2.24 | -22.82% |
| Solana | $195.38 | -7.39% |
Top Gainers & Losers (February 3)
Gainers
- Fartcoin (FART): $0.7388 (+17.77%)
- Mantra (OM): $5.60 (+15.60%)
- Flare (FLR): $0.02677 (+9.96%)
Losers
- Filecoin (FIL): $2.94 (-30.52%)
- Floki (FLOKI): $0.00008159 (-30.49%)
- Gala (GALA): $0.01959 (-28.92%)
Expert Insights
👉 ["Bitcoin’s $92,500 support is critical for recovery," says Mudrex CEO](https://www.okx.com/join/BLOCKSTAR). Analysts suggest stability above $95,000 could reignite momentum toward $100K.
- CoinSwitch: $2 billion in liquidations occurred due to tariff-induced volatility. BTC’s $90K support remains strong.
- Pi42: Macroeconomic policies and investor sentiment are key drivers; Bitcoin’s resilience at $95K will determine short-term trends.
- BuyUcoin: Long-term investors view BTC as an inflation hedge despite current dips.
FAQs
Q: Why did Bitcoin drop suddenly?
A: Trump’s tariff announcements triggered panic selling, exacerbating market fears.
Q: Is now a good time to buy Bitcoin?
A: Analysts highlight $92,500 as a potential entry point, but caution due to ongoing volatility.
Q: Which altcoins are most affected?
A: Ethereum, Filecoin, and memecoins saw steepest declines (-20% to -30%).
Conclusion
While tariffs have sparked short-term turmoil, Bitcoin’s institutional adoption and hedge appeal may cushion long-term fallout. Investors should monitor geopolitical developments and key support levels.
👉 Explore real-time crypto trends for strategic opportunities.
Disclaimer: Cryptocurrencies are high-risk investments. Conduct independent research before trading.