The cryptocurrency market is experiencing a major selloff today as Bitcoin plunged below $76,000, with over $500 billion wiped from the total crypto market cap amid escalating trade tensions between the US and China. The market turmoil comes as Trump’s new tariff policies send shockwaves through global financial markets.
Market Overview: Widespread Selloff Hits Crypto
Bitcoin briefly touched $75,000 in early Monday trading, marking a 7.7% decline over the past 24 hours. The leading cryptocurrency’s price action has closely mirrored traditional markets, with the VIX volatility index surging to 52.77 – levels not seen since the COVID-19 market crash.
Key market stats:
- Bitcoin 24h decline: -7.7%
- Total crypto market cap loss: $500B
- US stock market Friday losses: $3.25T
- VIX Index: 52.77
What’s Behind the Crypto Crash?
Several factors are contributing to the current market downturn:
- Escalating US-China trade tensions
- Trump’s aggressive tariff policies
- Institutional investor de-risking
- Technical resistance at $80K
Altcoin Opportunities Amid the Chaos
While Bitcoin struggles, some altcoins are showing resilience. Solana’s ecosystem continues to show strength despite price pressure, with Total Value Locked (TVL) reaching new all-time highs.
Expert Analysis and Price Targets
Market analysts remain divided on Bitcoin’s next move. While some predict a deeper correction, others view this as a healthy retrace before the next leg up. Long-term forecasts remain bullish, with several analysts maintaining price targets above $100,000 by Q1 2026.
Key Support Levels to Watch
- $75,000: Critical psychological support
- $72,500: Previous resistance turned support
- $70,000: Major technical and psychological level
FAQ: Market Crash Questions
How long could this crypto downturn last?
Historical data suggests market corrections typically last 2-4 weeks during bull markets, though external factors like trade wars could extend this timeline.
Should investors buy the dip?
While attractive entry points may emerge, investors should practice careful risk management and consider dollar-cost averaging rather than large single entries.
What’s the worst-case scenario?
Technical analysis suggests strong support at $70,000, though a break below could see Bitcoin test the $65,000 range.
Remember: All investments carry risk, especially during periods of high volatility. Always conduct thorough research and never invest more than you can afford to lose.