The new week has started with another sharp move lower across crypto markets. Over the weekend, the United States announced new tariffs, initially setting a 10% global rate before raising it to 15% following a Supreme Court ruling that struck down earlier measures.
Crypto did not immediately react while traditional markets were closed. However, as futures trading opened and US stock futures moved lower, digital assets followed.
Bitcoin is down 3.3% over the past 24 hours, falling below $66,000 and briefly testing levels near $65,000. Ethereum has dropped 4.7%, slipping back under $1,900. XRP and BNB are both down around 4%, while Solana has seen steeper losses, falling 7% and dropping below the $80 level. The total crypto market capitalization now stands at $2.26 trillion, down 3% on the day.
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Sentiment Remains at Extreme Lows
Market sentiment has deteriorated further. The Crypto Fear and Greed Index has fallen to 5, one of its lowest readings in recent history and firmly in “extreme fear” territory.
The CoinMarketCap equivalent also signals extreme fear, with a reading of 14. While such levels have historically appeared near local bottoms, they also reflect very weak risk appetite and continued uncertainty.
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Crypto Mirrors Broader Risk Assets
Bitcoin’s recent price action once again shows increasing sensitivity to macro developments. After erasing most of its post-election gains earlier this month, the asset has struggled to build upward momentum.
Data shows continued outflows from US-listed spot Bitcoin ETFs over the past several weeks, suggesting institutional demand remains cautious. Derivatives markets indicate that traders are positioning around the $60,000 level as a potential support zone.
Ethereum and major altcoins have followed Bitcoin lower, with smaller tokens showing relatively larger percentage declines.
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What Comes Next
This week’s economic calendar includes US consumer confidence data, jobless claims, and producer price index figures. Nvidia’s earnings report is also scheduled, which could influence broader tech sentiment.
For now, crypto remains closely tied to macro headlines. With the Fear and Greed Index at 5 and prices testing key support levels, the market appears highly sensitive to further developments in trade policy and geopolitics.
