Crypto Price Today: Bitcoin Nears $76K, ETH Crash 10% Amid US-China Trade Tensions

**Crypto Market Suffers Sharp Reversal, Wiping Out Recent Gains as Global Trade Tensions Escalate**

The cryptocurrency market experienced a sharp downturn today, plunging 4.42% to a total market capitalization of $2.43 trillion. This steep decline came just a day after a broad-based market rally had lifted investor sentiment. Hopes that the Trump administration might delay the implementation of reciprocal tariffs on Chinese imports were dashed, as confirmation came that the new duties would take effect from midnight on April 9, 2025. The news triggered a global sell-off, sending shockwaves across both traditional and digital asset markets.

### Bitcoin and Ethereum Lead the Declines

Bitcoin (BTC), the world’s largest cryptocurrency, dropped 4.92% over the past 24 hours, now trading at $76,360.77. Its market capitalization has shrunk to approximately $1.515 trillion, with an unusually high daily trading volume exceeding $53.73 billion. Over 702,000 BTC changed hands amid the intense volatility, marking one of the most turbulent trading sessions in recent weeks.

Ethereum (ETH) suffered even heavier losses, plunging 10.03% to $1,439.60. With a current market cap of $173.72 billion and a 24-hour trading volume of $25.11 billion, the second-largest crypto has seen its recent gains erased. Analysts suggest Ethereum’s deeper exposure to DeFi applications and ongoing regulatory concerns have made it more vulnerable to macroeconomic uncertainty.

### Altcoins Follow Suit in Widespread Market Sell-Off

Major altcoins mirrored the broader downtrend. Ripple’s XRP dropped 6.75% to $1.78, while Binance Coin (BNB) slipped 3.04% to $547.47. Solana (SOL) declined 5.85%, trading at $105.05, and Cardano (ADA) dropped 6.45% to $0.5591. The overall altcoin sector witnessed a sharp contraction, reflecting the pervasive risk-off sentiment.

Meme coin Dogecoin (DOGE) also lost 6.75%, trading at $0.1420 despite recent online hype. TRON (TRX) fared slightly better, declining 2.91% to $0.2268. Regardless of their underlying use cases or fundamentals, few assets were spared in today’s broad sell-off.

### Stablecoins Provide Shelter Amid the Storm

In contrast to the plunging crypto majors, stablecoins held steady, reaffirming their role as a safe haven during market turbulence. Tether (USDT) was virtually unchanged at $0.9991, while USD Coin (USDC) remained fully pegged at $1.00. The resilience of these dollar-backed assets underscores their growing importance as hedging tools during times of extreme volatility.

### Trade War Escalation and Fed Uncertainty Rattle Markets

The dramatic reversal in the crypto market was sparked by rising geopolitical tensions, particularly the Trump administration’s decision to impose a sweeping 104% tariff on Chinese imports. The announcement rattled global financial markets and reignited fears of a full-blown trade war. Digital assets, known for their sensitivity to macroeconomic developments, reacted swiftly.

Adding to the uncertainty, investors remain on edge ahead of the U.S. Federal Reserve’s next policy signals. Market participants are keenly watching for any hints regarding potential interest rate cuts, which could be critical in restoring confidence.

### Outlook: Temporary Correction or Start of a Larger Downtrend?

Despite today's sharp pullback, several market analysts view the correction as potentially healthy rather than catastrophic. Crypto markets have historically rebounded from similar dips, especially when driven by external shocks. Short-term volatility is expected to persist, but many experts believe the long-term bullish trajectory remains intact.

Investors will continue monitoring inflation data, central bank decisions, and geopolitical developments as they navigate this uncertain period.