Bloodbath in Crypto Markets as Dogecoin, ADA, and XRP Tumble 7%

Crypto Cools Off as Altcoins Dive, Trump Tariff Threats Rattle Sentiment

After a week of strong gains, the crypto market faced a sharp reversal on Friday, led by steep declines in top altcoins. Dogecoin (DOGE), Cardano’s ADA, and XRP each tumbled over 7%, while total crypto market capitalization shed 5% as traders rushed to exit positions ahead of the weekend.

Bitcoin (BTC) retreated from highs of $111,200 to around $107,000 after former President Donald Trump reignited global trade tensions. His proposed 50% tariffs on European goods and 25% levies on Apple products spooked investors, prompting a broader sell-off across risk assets.

The CoinDesk 20 Index (CD20) dropped 2.2%, with sentiment shifting quickly from bullish to cautious. Many traders appeared eager to cash out recent gains as volatility surged on renewed geopolitical uncertainty.

Despite earlier bullish catalysts—including spot ETF inflows, increased institutional allocation, and pro-stablecoin developments—altcoins failed to hold their ground. Analysts suggest these smaller-cap assets remain more vulnerable during periods of rapid sentiment shifts.

“Bitcoin’s recent highs helped lift the tide for altcoins, but when macro headlines strike, capital tends to flee to safety,” said Haiyang Ru, co-CEO of HashKey Group. “Stablecoins are becoming more attractive, especially as regulatory clarity improves in key markets like the U.S. and Hong Kong.”

Ethereum (ETH) also struggled, failing to breach resistance around $2,650. Recently hyped tokens like Hyperliquid’s HYPE and restaking-focused EIGEN saw their gains evaporate as momentum cooled.

FxPro’s chief analyst Alex Kuptsikevich noted that sentiment indicators had hit levels last seen in January, just before a notable market pullback. “This rally was more grounded in fundamentals, but it doesn’t make crypto immune to macro shocks,” he said.

As the weekend unfolds, the selloff underscores how quickly tides can turn in crypto—particularly in low-liquidity conditions where news can trigger outsized moves.

Without a new technical support floor for BTC, analysts warn, the broader altcoin market may continue to face pressure in the days ahead.