Crypto Price News For March 24: Market Recovers On Easing Tariff Concerns

The cryptocurrency market is in the green zone today, with most major assets showing gains. A combination of easing concerns about upcoming tariffs and growing optimism around financial markets has helped push the market higher.

According to CoinMarketCap, the global cryptocurrency market cap has risen by 2.96%, now sitting at $2.85 trillion. Market volume has surged by 49.38%, reaching $63.82 billion. The CMC 100 Index also saw a 3.10% increase in the last 24 hours, reflecting the overall positive sentiment.

Reasons Behind The Growth

A shift in market sentiment has been largely driven by reports that the upcoming Trump tariffs, set to take effect on April 2, might not be as severe as originally feared. Initial concerns about the tariffs sent markets lower in February, with Bitcoin dropping nearly 17.6%. However, recent reports suggest that the tariffs could be more targeted, with some countries potentially exempt and new levies on metals possibly not being cumulative. This news has alleviated some investor worries, contributing to a risk-on rally across financial markets.

Investors are also looking ahead to March 27, when the Senate Banking Committee will question SEC nominee Paul Atkins and Comptroller of the Currency nominee Jonathan Gould. This could signal potential regulatory shifts. Additionally, Friday’s PCE reading, which measures inflation, will provide further insights into future monetary policy, keeping investors on edge.

Top Gainers

Multiple cryptocurrencies have posted impressive gains today:

• Avalanche (AVAX): +9.87%
• Solana (SOL): +5.59%
• Polkadot (DOT): +5.55%
• Chainlink (LINK): +5.18%
• Sui (SUI): +4.98%
• Hyperliquid (HYPE): +4.37%
• Dogecoin (DOGE): +3.35%
• Bitcoin (BTC): +3.30%
• Ethereum (ETH): +3.28%
• XRP (XRP): +2.65%

Avalanche (AVAX) has been the standout performer, jumping by 9.87%, and Solana (SOL) also saw a solid 5.59% increase. Other top performers like Polkadot (DOT) and Chainlink (LINK) saw gains of 5.55% and 5.18%, respectively.

Meanwhile, Sui (SUI) and Hyperliquid (HYPE) gained 4.98% and 4.37%, while Dogecoin (DOGE) also added 3.35% to its price. Bitcoin (BTC) and Ethereum (ETH) saw gains of 3.30% and 3.28%, with BTC finally breaking through the $87K mark and Ethereum benefiting from the overall market uptrend. XRP (XRP) saw a more modest gain of 2.65% compared to some other coins, but it’s still impressive.

Top Losers

Despite the overall market growth, certain coins went down today:

• Pi (PI): -5.94%
• Tron (TRX): -5.21%
• Story (IP): -2.39%
• Toncoin (TON): -1.23%
• OKB (OKB): -1.13%

Pi (PI) continues to face downward pressure, dropping 5.94%. This follows its significant loss in the previous days, where it had already been in decline. Tron (TRX) also took a hit, falling by 5.21%.

Other assets like Story (IP), Toncoin (TON), and OKB (OKB) experienced smaller losses, down by 2.39%, 1.23%, and 1.13%, respectively. This reflects continued adjustments following recent rallies and the broader market's shift in sentiment.

For now, the crypto market appears to be in a positive trend, with many assets showing gains. Still, investors will be watching closely for any regulatory developments, particularly from the Senate Banking Committee, as well as the upcoming inflation report. Volatility remains a constant factor, and traders will need to stay alert for any shifts in sentiment in the coming days.