Crypto Market Turmoil: XRP, Solana, and Dogecoin Shed 20% with Traders Foreseeing Additional Losses Before U.S. Markets Commence Trading

Crypto Crash Deepens as Bitcoin Slides Below $75K; Traders Brace for More Selling After Wall Street Bell

The crypto market rout intensified Monday as Bitcoin dropped under the $75,000 mark for the first time since February, dragging major altcoins with it and erasing billions from total market capitalization. Traders now anticipate more downside as U.S. equity markets prepare to open.

Bitcoin’s slide triggered sharp losses across altcoins, with XRP, Solana (SOL), and Dogecoin (DOGE) each plunging over 20% in the past 24 hours. Liquidations across leveraged long positions neared $1 billion, according to CoinGlass, signaling the latest leg of a panic-driven flush out.

The CoinDesk 20 Index, which tracks top-cap digital assets, is down 12% on the day — a signal of the broad-based risk-off environment gripping the space.

“Capitulation Feels Close, But Not Quite There Yet”

“Historically, crypto tends to lead risk sentiment — and the weekend’s action points to more trouble ahead as U.S. markets reopen,” said Jeff Mei, COO of BTSE. “If volatility remains high in traditional markets, we could see another leg lower.”

XRP, SOL, DOGE Break Down Hard

XRP is now trading at $1.70, having lost key support at its 200-day moving average. Solana fell below $100 for the first time in months, and DOGE has collapsed to $0.13 — its lowest since December 2024.

Technical indicators across the board are flashing red: RSI levels are plunging, moving averages are crossing into bearish territory, and volume spikes suggest forced selling is still playing out.

Tariff Tensions Amplify the Meltdown

The catalyst? A resurgence of global trade tensions. President Trump’s newly announced 25% tariffs on Canadian and Mexican imports — and a doubled 20% tariff on Chinese goods — have sent a chill across global risk assets. Equities, crypto, and even commodities are being hit as investors flee for safety.

China is reportedly exploring front-loaded stimulus to mitigate the fallout, but so far, those discussions have offered little relief.

SignalPlus: “This Is Classic Bear Market Behavior”

“This looks like the early innings of a prolonged bear phase,” said Augustine Fan, head of insights at SignalPlus. “Traders are no longer buying the dips — they’re selling the rallies. That’s a massive shift in psychology.”

Fan noted that while Bitcoin remains strong against traditional assets on longer timeframes, the current lack of positive macro catalysts means the pain may persist. “Until we see real progress on trade or stimulus, this volatility is likely here to stay,” he said.

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