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The global cryptocurrency market has taken a significant hit, with the total market cap dropping to $2.46 trillion, marking a 7.79% decrease in the last 24 hours. This downturn comes amid growing macroeconomic concerns, particularly rising interest rates, which have sparked fears of instability across financial markets.
The crash has been further fueled by a sharp sell-off in U.S. equities, directly linked to the new global tariffs imposed by former President Donald Trump just days ago. This move has added to the marketโs uncertainty, triggering widespread panic and liquidation across crypto assets.