Recent events that have hurt investor confidence have made the crypto market suffer from extreme volatility. President Donald Trump’s declaration of higher tariffs on Chinese imports, Canada and Mexico triggered a steep fall in the market on February 2, 2025 which led to liquidations worth over $2.2 billion in one day. Ethereum’s price fell 17% to $2,577 due to this sell-off while Bitcoin’s price fell to nearly $95,400.
Having hit an intraday high of $97,177 and a low of $94,907, Bitcoin has shown resilience in the wake of it and is now trading at $96,691. With a peak price of $2,792.69 and a minimum price of $2,620.43, Ethereum is currently trading at $2,786.60. Cardano is at $0.781521, XRP is at $2.60, and BNB is at $670.71.
Adding to the market’s challenges, on February 21, 2025, Pi Network Coin experienced a sharp 62.63% drop following its listing, highlighting the risks associated with new cryptocurrencies. Market instability was further exacerbated by a major attack on the Bybit exchange that led to the theft of $1.49 billion worth of cryptocurrencies.
These incidents highlight the risks and volatility that are inherent in the cryptocurrency market underscoring the necessity for investors to proceed with prudence and carry out in-depth research prior to making any decisions.
