Bitcoin, Ethereum, XRP, and Dogecoin Prices Drop as Trump Tariffs Impact Market: Analyst Comments on Situation

February 24, 2026

Cryptocurrencies experienced a turbulent day as global tariffs and AI concerns rattled markets, causing leading cryptos to bleed alongside stocks. Bitcoin, Ethereum, XRP, Solana, and Dogecoin all saw price movements, with Bitcoin falling below $64,000 as selling pressure increased and leveraged liquidations surged. This marked a significant drop of almost 50% from its peak in October.

Ethereum also suffered a decline, hitting an intraday low of $1,813 with a substantial increase in trading volume. XRP and Dogecoin, on the other hand, remained relatively stable amidst the market turmoil. Stocks of cryptocurrency-related companies like Strategy Inc. and Coinbase Global Inc. fared poorly, closing down by 5.60% and 6.48% respectively.

The market witnessed over $466 million in liquidations within 24 hours, primarily driven by long positions. Bitcoin alone accounted for $233 million in losses. Despite a slight decrease in open interest, most retail and whale investors on Binance remained bullish on BTC. The market sentiment shifted to “Extreme Fear” according to the Crypto Fear & Greed Index.

While most cryptocurrencies faced losses, some assets managed to gain over 24 hours. Power Protocol, pippin, and River were among the top gainers with notable price increases. The global cryptocurrency market capitalization totted up to $2.23 trillion after a 3.31% decline.

Simultaneously, traditional markets took a hit with the Dow Jones, S&P 500, and Nasdaq Composite all seeing red. President Trump’s introduction of a 15% global tariff, coupled with concerns about AI disruption, weighed on investor sentiment.

Precious metals like gold and silver also experienced a decline following a spike on Sunday. Gold fell by 0.36% to $5,208 per ounce, while silver dropped 1.15% to $87.14 per ounce. Speculations regarding Bitcoin’s future price movements were rife among analysts, with some predicting a potential drop below $60,000, while others indicated a possible bottom in July or August.

As uncertainties loom over the market, the landscape remains volatile with both traditional and digital assets reacting to global events and economic factors. The interconnectedness of various assets showcases the need for a diversified portfolio to weather the storm of market fluctuations.