Crypto Market Plunges: Ethereum, Solana, XRP Suffer Significant Losses, Dropping Over 10% Amid…

Bitcoin Dominance Hits 63% as Altcoins Crack Under Trump Tariff Shock

Bitcoin [BTC] faced a steep pullback below $80K, retesting its March lows of $76K, after hotter-than-expected Trump tariffs rattled global markets. The macro uncertainty triggered widespread sell-offs across equities, major altcoins, and memecoins. Amid this volatility, BTC dominance surged to 63%, reflecting a capital rotation from altcoins to Bitcoin as a perceived safe haven.

📉 Altcoin Breakdown: ETH, SOL, ADA, XRP

Ethereum [ETH]

• RSI is in oversold territory, indicating short-term bearish dominance.
• The ETH/BTC ratio has dropped to a 5-year low, reflecting BTC’s overwhelming strength.
• A breakdown below $1.5K could see ETH trade in the $1K–$1.5K range short to mid-term.
• Bulls need a strong reclaim of $2.4K (200WMA) to shift momentum.

Solana [SOL]

• Lost the crucial $120 support, dipping to $100 — the lowest in 2024.
• Now down 67% from its peak of $295.
• Key support levels to watch: $80–$120 range and the 200WMA at $94.

XRP

• Despite holding 220% post-election gains, XRP fell below the critical $1.9 support.
• A bearish head-and-shoulders pattern is in play, with downside risk toward $1.0 if $1.5 trendline support fails.
• Weak volume and bearish RSI support a cautious outlook.

Cardano [ADA]

Capital inflows and demand weakened in April after a modest March rebound. If trendline support breaks, ADA could drop toward pre-election levels below $0.40.

Key Observations

• Oversold Zone: Most top majors’ RSIs are in the oversold zone, potentially indicating a reversal.
• Memecoin Impact: Speculative interest in memecoins was severely impacted, with Open Interest (OI) dropping by 20%.
• Market Sentiment: Investors are in risk-off mode, affecting memecoin performance.

Market Outlook

• Trump’s Tariffs: Updates on Trump’s tariffs could impact inflation, Fed rate cut expectations, and asset prices in the medium term.
• Potential Reversal: Positive catalysts could lead to a reversal in the oversold zone.