Crypto Rout Accelerates as BTC Dips Below $75K, Altcoins Follow Suit Amid Global Risk-Off Sentiment
The ongoing correction in digital assets deepened Monday as bitcoin (BTC) fell below $75,000, sparking a fresh wave of selling across the broader crypto market. Altcoins including XRP, Solana (SOL), and Dogecoin (DOGE) led declines, each down over 20% in the past 24 hours.
The sell-off was triggered by renewed macroeconomic headwinds, including escalating trade tensions between the U.S. and its major trading partners. Over $950 million in crypto long positions were liquidated during the global trading day, according to data from CoinGlass, underscoring the intensity of the move.
The CoinDesk 20 index (CD20) dropped by 12%, reflecting broad weakness across both large-cap and mid-tier assets.
XRP and SOL Breach Key Technical Levels
XRP is now trading near $1.70, below its 200-day moving average — a level that had previously acted as long-term support. Solana fell under the psychologically significant $100 mark, now down more than 60% from recent highs. DOGE also posted double-digit losses, trading at $0.13.
“The price action is consistent with a loss of confidence and breakdown of support structures across majors,” noted one technical analyst. “What we’re seeing now is less about fundamentals and more about sentiment and positioning.”
Traders Cautious Ahead of U.S. Market Open
Market participants expect further downside pressure as U.S. equities resume trading. Futures tied to the Dow Jones Industrial Average are pointing to a 900-point decline, compounding risk aversion across global asset classes.
“Crypto tends to move first when macro risks flare up, and it’s clear that traders are repositioning in real time,” said Jeff Mei, COO at BTSE. “Unless we see a major reversal in tariffs or a surprise policy move, the path of least resistance remains lower.”
Tariffs and Stimulus Talks Add to Uncertainty
Investor anxiety has been fueled by President Trump’s announcement of sweeping tariffs — including a 25% levy on Canadian and Mexican imports, and a doubling of duties on Chinese goods. The move has invited retaliation and stoked fears of a prolonged trade standoff.
China is reportedly considering front-loaded monetary stimulus in response, though no official measures have been announced. Analysts say that unless a major trading partner signals cooperation or compromise, market volatility is likely to remain elevated.
Bearish Market Structure Firming
Augustine Fan, head of insights at SignalPlus, pointed to the emergence of clear bearish market characteristics: “Investors are no longer buying dips — they’re selling into strength. That’s a key shift from earlier this year.”
Fan added that while long-term technicals still show bitcoin outperforming traditional assets, the near-term outlook is clouded by uncertainty. “We’re not in freefall yet, but confidence is fragile, and without a strong catalyst, the correction could continue.”
