XRP, Solana, and Dogecoin Slide as Crypto Market Contracts by 5%

Crypto Market Sees Turbulence Amid Trade Tariff Uncertainty

The cryptocurrency market has faced significant volatility in recent days, with the total market capitalization dropping nearly 5% over the past 24 hours, according to CoinGecko. This downturn has been driven largely by a sell-off in altcoins, with XRP and Solana declining by 4.5% and 5.1%, respectively—both underperforming Bitcoin's more modest 1.6% dip to $105,370.

Other major altcoins, including Dogecoin and Sui, have also seen losses, falling 8% and 3.3% in the same period. Chainlink and Avalanche followed suit, each dropping at least 5%. This altcoin weakness has reinforced Bitcoin's market dominance, which now stands at 64.14% according to TradingView, nearing its recent four-year high.

Analysts point to multiple factors behind the market's decline, including slowing ETF inflows and confirmed GDP contraction. Some firms, such as BRN, are adjusting their strategies—reducing short-term risk while maintaining a bullish stance on Bitcoin. The firm has also trimmed its Solana (SOL) holdings due to recent underperformance.

Despite near-term caution, long-term optimism for Bitcoin remains strong. BRN's Lead Research Analyst Valentin Fournier predicts a potential dip toward $100,000 before a broader rally toward $130,000-$150,000, which could eventually reignite altcoin momentum.

Adding to market uncertainty is the ongoing debate over former President Donald Trump's trade tariffs. Analysts suggest that clearer policy direction could quickly shift sentiment, but for now, traders remain cautious amid the volatility.