Ethereum & Solana Crash Double Digits Today: Why Is ETH & SOL Falling?

Leading altcoins Ethereum (ETH) and Solana (SOL) crashed by double digits on Tuesday. While Ethereum shed 13% of its value, Solana bled nearly 15% in the day’s trade. Both cryptocurrencies are experiencing a downturn and remain in the red zone for close to a month.

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Source: Coingecko Solana is down 47% in the last 30 days while Ethereum dipped over 30% during the same time frame. Investors fear another dip could send the prices to new yearly lows and wipe out all gains it generated last year. SOL and ETH remain on a slippery slope with little to no price spurts since year-to-date.

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Source: Coingecko

Ethereum & Solana: Here’s Why ETH and SOL Are Dipping Today

Source: BlockworksThe crash in price comes after Bitcoin dropped 5% in the day’s trade falling below the $90,000 mark. BTC is now trading at the $89,000 level signifying that the markets could brace for uncertainties. Bitcoin dipped because the broader cryptocurrency market triggered nearly $1 billion in liquidations late Monday. The development affected Ethereum and Solana’s price making it crash double digits on Tuesday.

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If the market continues the downturn, Bitcoin could reach a resistance level of $86,000 next. This could make ETH and SOL dip further extending losses to investors. The cryptocurrency market is dipping as the US stock market is bracing for uncertainties under the Trump administration. The White House imposing tariffs on other countries is leading to trade imbalances and affecting the commodity, forex, and stock market.

Around $1 trillion worth of wealth was wiped out in the US stock market on Friday as Dow Jones dipped 750 points. It was the biggest crash in recent times sending fears that the economy could be hampered due to trade wars. If the US stock market falls, the losses could extend to Bitcoin, Ethereum, and Solana, among other leading cryptocurrencies.