Global cryptocurrency markets experienced a sharp sell-off on Monday. US President Donald Trump announced new global tariffs, driving a broad risk-off sentiment. Investors shifted capital from volatile digital tokens into traditional safe-haven assets.
Bitcoin fell more than 5% to approximately $64,000. Ethereum dropped below the $1,870 level during the retreat.
The market downturn triggered over $300 million in liquidations within a 24-hour period. Bullish long positions accounted for the majority of these forced exits. The Crypto Fear & Greed Index plummeted to a level of 5, signaling a state of Extreme Fear among participants.
This market-wide crash places direct pressure on Coinbase’s business operations. The exchange's stock price typically maintains a high correlation with underlying crypto asset performance.