The cryptocurrency market experienced a significant downturn today, with its total value plummeting by 5.46% to reach $2.63 trillion. This steep decline was triggered by a broader sell-off following US President Donald Trump’s announcement of new tariffs on trading partners worldwide, raising concerns about global economic instability. Bitcoin (BTC) led the downtrend, dropping nearly 5.4% in the past 24 hours to $82,274.70 and experiencing a more significant 5.67% drop over the past week. Ethereum (ETH) also suffered substantial losses, falling by 6.04% to $1,787.79, while XRP lost 7.76% to reach $2.00. Binance Coin (BNB) also dipped, decreasing by 2.94% to settle at $588.96. The broader crypto market was hit hard, with a significant drop across numerous altcoins. Cardano (ADA), Solana (SOL), Dogecoin (DOGE), Toncoin (TON), Chainlink (LINK), Polkadot (DOT), Avalanche (AVAX), Shiba Inu (SHIB), and Hedera (HBAR) all saw declines of 4.83% to 11.18%, respectively. Stablecoins like Tether (USDT) and USD Coin (USDC) remained relatively stable, offering a less volatile haven for investors in the turbulent market environment. Market sentiment reflects extreme fear, as measured by the Fear & Greed Index now hovering at 24, signaling investor apprehension as the crypto sector reacts to the broader global market downturn.