Why are Bitcoin, Ethereum and XRP Prices Crashing Today?

Source: CryptoNewsNet Original Title: Why are Bitcoin, Ethereum and XRP Prices Crashing Today? Original Link: The crypto market saw a sharp sell-off today, with Bitcoin, Ethereum and XRP all moving lower within a short time. The total crypto market cap fell to $3.13 trillion, down nearly 3%, as traders rushed to cut risk.

Bitcoin critic and gold advocate Peter Schiff commented on the market dynamics, noting that while precious metals surged to new record highs, Bitcoin moved in the opposite direction, down nearly 3%.

Bitcoin Leads the Drop

Bitcoin slipped to around $92,500, falling more than 2.5% in 24 hours. The drop started after U.S. futures opened weak, which triggered panic selling across risk assets. Bitcoin also failed to close the week above $94,000, which weakened confidence among short-term traders.

Ethereum and XRP Follow

Ethereum dropped over 3%, trading near $3,200, while XRP fell more than 4% to around $1.97. Once Bitcoin broke important support levels, selling pressure quickly spread to major altcoins.

Trade War Fears Spook Markets

Fresh worries around a U.S.–EU trade conflict pushed investors away from risky assets like crypto. At the same time, gold and silver moved to new highs, showing that money was flowing into safer options.

Liquidations Made the Fall Worse

About $546 million in long positions were liquidated, and nearly $130 billion was wiped off the crypto market in just 90 minutes. Heavy leverage turned a normal dip into a sharp crash.

Oversold but Still Unstable

Market indicators now show crypto is close to oversold levels, with the Fear and Greed Index at 45 (Neutral). This could mean a short-term bounce is possible, but prices may stay volatile until global tensions cool down.

Conclusion

Today’s crash was driven by macro fears, heavy leverage, and technical breakdowns, not by problems inside crypto itself. Traders are now watching whether Bitcoin can reclaim the $93,000–$94,000 zone to stabilize the market.