The cryptocurrency market today is in a pretty tough situation. I was surprised to see the market drop significantly when I woke up this morning. The overall decline seems to be caused by multiple factors, primarily political uncertainty. The market sentiment is shaken because former President Trump mentioned tariffs on Canada and Mexico. The temporary suspension of these tariffs is also about to end, which is increasing uncertainty in the global economy.

In addition, over the past 24 hours, more than $900 million in positions have been liquidated, which is accelerating the market decline. Investors are pulling funds out of cryptocurrencies out of fear of ripple effects in the financial markets. The fear and greed index has also fallen to 29, indicating a strongly fear-based market.

Bitcoin has dropped to the $75k range, down 1.35% in 24 hours. Its dominance is around 56%. Ethereum, Solana, and XRP are also recording declines of about 2%. Notably, AAVE and SUI have fallen more than 4%, showing a tough environment for altcoins overall. Interestingly, even minor tokens like IP tokens and DEXE are falling similarly. I believe this decline is truly a market-wide correction.

During these times, it’s more important to observe market movements than to panic and sell. Cryptocurrencies are assets heavily influenced by political and economic factors, so periods of uncertainty like this are probably unavoidable.