The cryptocurrency market continues to slump. Bitcoin (BTC) has fallen to the $83,000 mark once again. The global crypto market cap has dipped 3% in the last 24 hours to $2.78 trillion. Most major crypto assets are trading in the red zone today. Nearly $487.64 million worth of assets were liquidated in the last 24 hours.
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The latest market dip comes after President Donald Trump announced reciprocal tariffs from Apr. 2. The cryptocurrency market seems to have responded negatively to the development.
The market dip could also be due to more-than-expected jobs being created in March. The move could lead to the Fed delaying an interest rate cut. The Fed paused rate hikes last month. Despite the rate pause, the central bank is yet to announce a rate cut for this year.
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Macroeconomic factors continue to present considerable challenges to the cryptocurrency market. Despite the dip, the low prices could present a good opportunity for investors to stack up on digital assets for cheaper prices.
Top 3 Cryptocurrencies To Watch During The Dip
1. Binance Coin (BNB)
Binance’s BNB token hit an all-time high of $788.84 in December 2024. The cryptocurrency’s price has dipped by 24.2% since its December peak. There is a high probability that BNB will recover its previous high later this year. The low price could be a good entry point for new investors.
2. Ripple (XRP)
Ripple’s XRP token is another cryptocurrency you could watch during this dip. The SEC recently dropped its litigation against Ripple. The asset could surge to new heights over the next few months.
3. Litecoin (LTC)
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LTC is down by nearly 80% from its all-time high of $410.26. The asset peaked in May 2021. There is a lot of talk about an LTC ETF being approved this year. An ETF approval could lead to substantial fund inflows. LTC could reclaim its previous peak under such conditions.