Crypto Market Recap: Trump Tariff Turmoil

Bitcoin and Ethereum price update

Bitcoin is trading at US$101,350, reflecting a 3.6 percent increase from its previous close.

The day's trading range saw a high just above US$102,000 and a low of US$92,460.

Ether is priced at US$2,712, marking an 8.1 percent decline across 24 hours. The cryptocurrency reached an intraday high of US$2,773 and a low of US$2,558.

Altcoin price update

SOL is currently valued at US$211.50, 4.2 percent higher across 24 hours, but slightly below a high of US$215 recorded in the final hour of American trading. It was at US$191 ahead of the opening bell, its lowest valuation of the day.

XRP fell to US$2.25 before North American markets opened and rose to its highest value of US$2.78 at 8:00 p.m. UTC. The cryptocurrency is currently valued at US$2.67.

SUI is trading at US$3.57, a 7.7 percent boost, after a daily high of US$3.65 and a low of US$3.02.

Meanwhile, ADA is still down, priced at US$0.78 and reflecting a 24 hour decline of 2.5 percent. Its highest price on Monday was US$0.80 and its lowest was US$0.68.

Crypto news to know

Tariff announcements over the weekend triggered a sharp downturn in the crypto market on Monday. Liquidations surpassed those seen during previous major market events, reaching billions of dollars.

While some analysts predict long-term gains for Bitcoin due to the tariffs' anticipated effects on the US dollar, the immediate impact was a significant market drop.

Despite heavy initial losses, the crypto market had partially recovered by the end of the trading day, with Bitcoin showing reasonable gains. News of delayed tariff implementation in Mexico contributed to the market's recovery.

Technical indicators also hinted at a potential bullish rebound, but some analysts have pointed to chart patterns suggesting further declines before a confirmed recovery.

Analyst Rekt Capital mentions that a close above about US$96,600 at the end of the month would confirm a successful retest and suggest continued upward momentum.