Ethereum, the world’s second-largest cryptocurrency, on Friday fell more than five per cent after U.S. President Donald Trump escalated his trade conflict with China. Bitcoin, the world’s largest cryptocurrency by market value, also extended declines.

Ethereum, the world’s second-largest cryptocurrency, fell 5.8 per cent to $3637 at 17:21 (ET). Bitcoin was last down 8.4 per cent at $104,782 as of 17:20 ET (2120 GMT).

Ethereum’s price fell today as markets reeled from broader crypto pullbacks. Analysts point to weakening risk appetite and USD strength as short‑term headwinds. Retail and institutional inflows into spot ETH products have seen intermittent outflows, adding pressure. Standard Chartered recently raised its year-end ETH target to $7,500, citing rising corporate demand, though Citi remains more cautious at $4,300.

Technically, key support lies near $3,500; a break could invite deeper declines, while a rebound may test resistance in the $4,500–5,000 zone.

President Trump on Friday said he was raising tariffs on Chinese exports to the U.S. to 100 per cent and imposing export controls on “any and all critical software” in a reprisal to recently announced export limits by China on rare earth minerals critical to tech and other manufacturing.

The spat shook global financial markets, sending the benchmark S&P 500 Index sliding by more than 2 per cent.

FAQs

Q1. What is world’s largest cryptocurrency?
A1. Bitcoin is the world’s largest cryptocurrency.

Q2. What is world’s second largest cryptocurrency?
A2. Ethereum is the world’s second-largest cryptocurrency.