SUI Price Crashes 13% as Tariff Jitters Trigger Risk-Off Selloff; Bitcoin Slips Below $93K

Source: CryptoNewsNet Original Title: SUI price crashes 13% as tariff jitters trigger risk-off selloff; Bitcoin slips below $93K Original Link:

Market Overview

Sui price fell as tariff jitters spooked global markets. The token tumbled 12% in the past 24 hours as Bitcoin retreated under $93,000. Tariff jitters and overall risk-off sentiment threaten further SUI downturn.

Sui price plunged nearly 13% to lows of $1.55 amid a broader market downturn marked by significant capital exodus from risk assets.

This sharp correction, amplified by Bitcoin’s retreat from $96,000 highs to under $93,000 and Ethereum’s retest of $3,200, came as crypto saw over $680 million in longs liquidated.

Geopolitical Tensions Impact

Many analysts are pointing to escalating geopolitical tensions tied to U.S. tariff threats on Europe over Greenland.

Technical Analysis

Sui tumbled from $1.70 to a daily low of $1.54, breaching its 50-day exponential moving average at $1.70. The altcoin’s price has entered oversold territory with RSI below 40.

Bears showed their teeth as Bitcoin’s price revisited the $92,500 support mark. As seen recently, this exacerbated the drop in altcoins.

Sui, with a higher beta, suffered notable losses and saw over 10 million SUI tokens flow to exchanges.

Technically, failure to reclaim $1.65 risks a slide to $1.40, with Sui’s support breach amid BTC deleveraging screaming further caution for bulls.

Recently, a six-hour network outage dented community sentiment, and despite key upgrades, the lingering concern suggests a potentially slow recovery.

However, if Bitcoin stabilises above $92,000 and reclaims key levels below $100,000, a follow-up altcoin rebound could see SUI eye the $2 mark and higher in the coming days.

Trade War Escalation

The rout in top altcoins comes as BTC and ETH pull back after President Trump’s threat of 10% tariffs on several European countries.

Escalating to 25% by June, the tariffs will target imports from Denmark, France, Germany, the Netherlands, Norway, Sweden, the UK, and Finland.

These measures retaliate against opposition to the US acquisition of Greenland, prized for Arctic security and rare earth minerals.

European indices like DAX and CAC 40 fell over 2% on Monday, but gold surged, and the dollar index topped 108, pressuring crypto.

In retaliation, the EU has readied €93 billion in countermeasures, but with a potential trade war in the making, many alts could face further pain.

While Bitcoin ETF inflows offer a floor, miner capitulation as profitability weakens may spell doom. It means the $90k zone is a key threshold, with retail doomed if prices fall further.

Market Sentiment

Crypto traders think the decline has allowed Sui to sweep liquidity into a key demand zone. The next move is key as the current price level has often acted as a base for the next leg up.

After a strong impulse move, SUI entered a long consolidation and has now swept liquidity into a key demand zone. SUI price reaction here is crucial, as this area often acts as a base for the next expansion leg.