Leading cryptocurrencies plunged on Sunday, and stock futures slipped as investors grew wary of President Donald Trump’s tariff threat against the European Union over Greenland.
Crypto Market Sees Sharp Sell-Off
Bitcoin dived from $95,000 to $92,000 overnight, triggering a sell-off across the broader market. Ethereum also tumbled from $3,350 to $3,200 in a space of 90 minutes.
Over $780 million was liquidated from the market in the last 24 hours, according to Coinglass, with $750 million in levered longs wiped out.
Bitcoin’s open interest fell 1.08% in the last 24 hours, while more than 65% of Binance traders with open BTC positions were long as of this writing.
The market sentiment worsened from “Neutral” to “Fear,” according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
The global cryptocurrency market capitalization stood at $3.23 trillion, contracting by 1.26% in the last 24 hours.
Stock Futures Slip After Trump’s Tariff Threat
Stock futures ticked lower on Sunday evening. The Dow Jones Industrial Average Futures fell 341 points, or 0.69%, as of 8 p.m. EDT. Futures tied to the S&P 500 dipped 0.80%, while Nasdaq 100 Futures slid 1.01%.
Investors factored in increasing geopolitical risks as Trump said that he could use tariffs to pressure countries into backing U.S. control of Greenland, calling the Arctic island vital to national security.
The precious metal surge continued, with spot gold reaching a fresh all-time high of $4,680 per ounce and silver surging past $93 per ounce.
The New York Stock Exchange and Nasdaq will be closed on Monday in honor of Martin Luther King, Jr. Day.
Ethereum Could Hit $4,000?
Widely followed cryptocurrency analyst and trader Ali Martinez noted Ethereum consolidating in an ascending triangle pattern on its daily chart.
“As long as price holds above the $3,085 support level, a break above the $3,400 resistance could trigger a move toward $3,660, with a potential extension to $4,000,” Martinez said.
Ted Pillows, another popular market commentator, highlighted how Bitcoin dominance failed in reclaiming its 200-Day Simple Moving Average, around 59%.
“Since September, Bitcoin dominance has been consistently forming higher lows. Until this changes, most alts will continue to underperform despite BTC’s bullish price action,” Pillows projected.
Photo: KateStock / Shutterstock
BTCGrayscale Bitcoin Mini Trust (BTC)$42.28-%Overview$BTCBitcoin$92499.99-1.21%$DOGEDogecoin$0.1268-3.65%$ETHEthereum$3205.60-2.35%$SOLSolana$133.71-2.98%$XRPRipple$1.95-1.84%COINCoinbase Global Inc$241.15-%Market News and Data brought to you by Benzinga APIs
