Crypto Rout Deepens as BTC Falls Below $75K; Traders Brace for U.S. Market Pressure
The crypto market sell-off intensified in early European trading hours Monday, as bitcoin (BTC) tumbled below the psychologically significant $75,000 level, sparking a broad risk-off move across digital assets.
Losses accelerated ahead of the U.S. trading day, with major altcoins XRP, Solana (SOL), and Dogecoin (DOGE) leading the decline — each falling over 20% in the past 24 hours. The broader CoinDesk 20 Index (CD20), which tracks leading tokens, slid 12% as market sentiment turned sharply bearish.
“We expect crypto markets to dip once U.S. markets open,” said one trader, citing a lack of immediate catalysts and growing macro pressure.
Major Tokens Breach Support
XRP was down to $1.70, slipping below its 200-day moving average — a key long-term support — increasing the probability of a drop toward $1.50 if selling continues. SOL fell under $100 for the first time in months, breaching its 50-day moving average and extending its decline to 64% from its all-time high. DOGE also suffered a 20% pullback, trading around $0.13.
Liquidation data showed nearly $1 billion in long positions wiped out over the past 24 hours as traders who bet on a rebound were forced to exit amid mounting volatility.
Tariff Tensions Fuel Risk Aversion
The latest leg down in crypto coincides with rising fears over global trade disruptions. President Donald Trump’s aggressive tariff stance — including a 25% duty on imports from Canada and Mexico, and a doubled 20% levy on China — has triggered fears of economic retaliation and weighed heavily on global markets.
China is reportedly weighing the idea of accelerating monetary stimulus in response, but so far, those discussions have failed to soothe investor nerves. Instead, capital is flowing into traditional safe havens like gold and the Japanese yen, as risk appetite fades.
Market Outlook: More Pain Ahead?
Jeff Mei, COO of BTSE, told CoinDesk that crypto traders are bracing for further downside as the traditional finance world reopens.
“Asia markets reinforced the risk-off mood early today, and historically crypto often leads broader markets during the weekend,” Mei said. “Unless there’s a breakthrough — like tariff delays or bilateral trade deals — we’re likely in for more short-term downside.”
Some countries, including Vietnam, Taiwan, and Cambodia, have reportedly begun negotiating tariff rollbacks or increased U.S. investments to avoid further economic fallout. However, Mei believes only a major concession from a top trading partner like China or Japan could reverse market sentiment meaningfully.
Bear Market Psychology Takes Hold
Augustine Fan, Head of Insights at SignalPlus, noted that current price action mirrors traditional bear market behavior.
“Short-term rallies are being sold into, and we’re seeing clear signs of investors adjusting to a new macro reality,” Fan said in a Telegram message. “The market will likely continue shaking out weak hands and frustrating longer-term bulls.”
While some analysts point to a long-term divergence between BTC and equities and suggest a catch-up to gold could eventually materialize, Fan remains cautious.
“For now, risk management will remain top of mind. Any upward momentum will need strong, sustainable catalysts — and those remain elusive,” he concluded.
