Bitcoin, Ethereum, Dogecoin, XRP Tumble After Trump Imposes Fresh Global Tariffs: Analyst Says BTC Approaching 'Final Leg Down' Of This Cycle

Leading cryptocurrencies fell alongside stocks Sunday overnight after President Donald Trump said he’ll impose 15% global tariffs on U.S. imports.

Crypto Market In ‘Extreme Fear’

Bitcoin wobbled between the high $65,000s and the low $68,000s, while trading volume dipped over the last 24 hours.

Ethereum also traded with low volatility, confined to a narrow range just under $2,000. XRP and Dogecoin recorded sharp 24-hour drops.

Shares of cryptocurrency-related companies, including Strategy Inc. (NASDAQ:MSTR)  and Coinbase Global Inc. (NASDAQ:COIN), closed up 3.39% and 1.15%, respectively.

Over $300 million was liquidated from the market in the last 24 hours, according to Coinglass, with $290 million in bullish long positions alone wiped out.

Bitcoin’s open interest fell 1.85% over the past 24 hours, while Ethereum's open interest dipped 4.33%. That said, majority of Binance's retail and whale investors were long BTC as of this writing.

Bitcoin whales on Bybit and OKX have turned bearish, while those on Binance remain bullish on BTC.

The Crypto Fear & Greed Index dropped to record low of 5, as "Extreme Fear" gripped the market.

Top Gainers (24 Hours) 

The global cryptocurrency market capitalization stood at $2.31 trillion, following a modest increase of 0.57% over the past 24 hours.

Stock Futures Slide, Gold Inches Up

Stock futures edged lower overnight on Sunday. The Dow Jones Industrial Average Futures fell 208 points, or 0.42%, as of 7:47 p.m. EDT. Futures tied to the S&P 500 slid 0.49%, while Nasdaq 100 Futures lost 0.67%.

Trump announced a new 15% global tariff after the Supreme Court rejected his previous attempt to use emergency powers to raise import taxes, reaffirming Congress’s constitutional authority over taxes and trade policy.

Precious metals moved in the opposite direction, with spot gold rising 0.85% to $5,148 an ounce and spot silver trading up 2.34% to $86.60.

Another 30% BTC Decline Incoming?

Ali Martinez, widely followed cryptocurrency analyst and trader, identified a technical pattern that has historically signaled "the final leg down" of Bitcoin's cycle.

"We are now approaching a potential death cross between the 50 and 200 SMAs on the three-day chart, projected to occur in late February," Martinez said. "Based on prior patterns, a further 30% decline from current levels would place Bitcoin near $40,000."

A death cross signals a potential major sell-off or sustained bearish trend on a chart, forming when the short-term moving average drops below the long-term moving average.

DonAlt, another well-known cryptocurrency commentator on X, said "aggressive bulls" should ideally want Bitcoin to close above at least $71,000.

"I’m not in a rush so I’m waiting for a deeper discount [$42,000) or a market structure shift [above $86,000]," they added.

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