Here’s why Crypto coins like Pe Network, Pepe, Ethena is crashing

Bitcoin and most cryptocurries smashed on Thursday, and their total market capitalization slammed for over 5.7% to $ 2.6 trillion.

PI Network (Write) Is one of the worst performers as fell on the minutes low from $ 0.56, over 80% from their highest levels in February.

Pepe (Pepe), the third largest meme, fell 17% while Ethena (Ena) fell by 18%. Other top backs were Altcoyni like hyperliquid, Berachain, Bonk, Jito and official official trum, who also fell by over 15%.

The sharp drop arrived as if the chances of recession were drawn. According to Polimarket, the probability of the American recession rose to over 70%. Metlifs, leading financial services, increased its recession kantala at 40%, while Goldman Sachs and Pimco raised their forecasts at 35%.

These chances jumped after announced Donald Trump Tariffs in all countries who export goods in the US. Analysts Caution that these tariffs are a black swan event that could reshape the global economy.

Several countries have already promised to revenge. Canada has imposed 25% tariffs on American vehicles – a move that could be started by further escalation. In an interview with Bloomberg, the Secretary of St. Lunnick warned that the tariffs of retaliation countries could grow even further.

Collision on top altcoines like Pepe, Pi Networks and Ethen Mirror Mirror in American actions. Dow Jones, NASDAK 100 and S & P 500 have fallen by 1,200, 200 and 815 points, respectively.

They also fell like a feeling of fear spreading on the financial market. The Index of fear and greed They moved to the end zone of fear of 11, while the Cripto fore index strangled at 24.

On the positive side, the bull market cycles often start when the fear is at its peak. For example, the last time CNN Fear and greed index hit this level in March 2020. Year coincided with the beginning of the cage-19 pandemic. Stocks and Cripto started historic rally after the federal reserve intervened with reducing feet and liquidity support.

Therefore, there is a possibility that Bitcoin and Altcoyni like Pi Network, Pepe and Ethena bounce after the current wave of panic.