Crypto market under pressure: Bitcoin and Ethereum stable despite trade dispute

Crypto market under pressure: Bitcoin and Ethereum stable despite trade dispute

The markets for Bitcoin and other cryptocurrencies have been surprisingly stable this week, despite a tense trade situation exacerbated by US President Donald Trump's announcement of 50% tariffs on EU imports from June 1. This news, announced on May 23, led to massive sell-offs in traditional markets: the German stock index lost 800 points, while the Eurostoxx 600 fell 3% and the S&P 500 fell 1%. In this context, the Bitcoin price fell from 111,000 to 108,000 US dollars. On May 24th, Bitcoin and Ethereum started the weekend with losses.

Reactions to Trump's statement that he was not interested in a deal may have influenced market movements. However, on Sunday morning, the crypto market showed surprising strength. The total market capitalization of cryptocurrencies only fell by 0.44%. Bitcoin fell 0.12%, while Ethereum held steady above $2,500, currently at $2,513 with a weekly gain of 0.16%. Ripple (XRP) and Cardano (ADA), however, posted weekend losses of 2.5% and 1.8%, respectively. A notable winner last week was altcoin Hyperliquid (HYPE), which gained 4% on the day and 28% on the week.

Cryptocurrency market overview

In the last few days, the overall cryptocurrency market has shown a slight downward movement. How Coinpedia reported, the total market capitalization fell from $3.62 trillion to $3.57 trillion. The altcoin market also fell, from $1.61 trillion to $1.55 trillion, while the market cap excluding Bitcoin and Ethereum fell from $1.13 trillion to $1.08 trillion.

Unlike altcoins, which mostly showed negative moves, Bitcoin managed to see a slight increase during the week after starting the week at $97,382.37. The current price is now around $101,698.45 after a small correction. Ethereum, on the other hand, fell over the week from $4,005.27 to a low of $3,632.39 before recovering to around $3,916.22, although this does not represent a full return to previous highs.

Top cryptocurrencies and trends

There were clear winners and losers among the top cryptocurrencies. While Bitcoin gained 2.1%, Cardano saw a decline of 8.5% and Dogecoin fell 6.0%. XRP also grew by 2.2%. An overview of cryptocurrency performance shows that the smart contract sector fell by 0.5%, the meme coin market by 3.9%, and the AI ​​segment by 7.8%. On the other hand, stablecoins showed an increase of 2.8% and DeFi protocols increased by 1.3%.

For investors and interested parties, the situation in both the US market and the crypto market remains exciting and challenging. The expectation of a possible interest rate cut by the Federal Reserve is causing further uncertainty in the financial sector.

In summary, the current market situation shows that crypto and traditional markets are in a phase of adjustment, with developments and announcements from governments and institutional players potentially having a major impact on the entire industry.