Bitcoin and most altcoins pulled back this week, w
Bitcoin and most altcoins pulled back this week, while the crypto fear and greed index slipped into the fear zone.
Ethereum Ethereum
ETH
-3.73%
Ethereum dropped to a low of $2,100, down by over 47% from its highest level this year. Similarly, Dogecoin Dogecoin
DOGE
-2.66%
Dogecoin price slipped to $0.2060, its lowest level since Nov. 4, while Ripple XRP
XRP
1.6%
XRP fell to $1.8010, down by 47% from the year-to-date high.
Other altcoins, including as Solana, Polkadot, and Chainlink, also suffered double-digit losses on Monday. However, most of them pared back some losses and are now approaching their weekly opening levels.
The total cryptocurrency market cap, tracked by CoinMarketCap, initially dropped to $3 trillion on Monday before recovering to $3.3 trillion by Friday.
The broader crypto market retreated this week amid growing concerns over a potential trade war between the United States and its key trading partners, including China, Mexico, and Canada. Former U.S. President Donald Trump announced a 25% tariff on goods imported from Mexico and Canada and a 10% tariff on Chinese imports.
He then paused tariffs on Canadian and Mexican goods for 30 days pending negotiations, while tariffs on Chinese imports remain in place. A prolonged trade war between these countries and European nations could trigger a risk-off sentiment, weighing on riskier assets like cryptocurrencies.
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