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The global cryptocurrency market has seen a significant contraction, with total market capitalization dropping 30% to US$2.7 trillion, following new tariffs announced by US President Donald Trump. Bitcoin has shown relative stability, decreasing to US$78,500 while increasing its market dominance to nearly 60%, as investors shift towards more stable assets. This downturn highlights the vulnerability of altcoins, which have faced steeper declines, reflecting a growing preference for Bitcoin during periods of market uncertainty.
Bitcoin has entered a new phase of price discovery, while Ethereum is poised for significant gains, potentially reaching $5,000 by year-end amid a favorable market environment. On-chain metrics indicate that Ethereum's market cap is still below previous peaks, suggesting room for growth. With increasing on-chain activity and a pro-crypto U.S. administration on the horizon, Ethereum could see a strong breakout in early 2025, possibly nearing $20,000 in the next cycle.
The Blockchain Group
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
crypto market cap plunges 30 percent as tariffs trigger investor flight to bitcoin
09:25 08.04.2025
ethereum poised for significant gains as market dynamics shift towards bullish trends
00:00 14.12.2024
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