The crypto market plunged on Monday, April 7, as global tariff tensions dampened investor sentiment. Bitcoin dropped over 8% on global exchanges to $76,790 — its lowest this year — while on Indian platforms, it fell nearly 7% to $80,895.
“The crypto market faces adverse effects due to the uncertainty driven by new US trade tariffs, which have also led to a sharp decline in the stock markets… Most cryptos are facing double-digit losses, hinting at the beginning of a bear market. However, billionaire Mark Cuban advises not to sell as the markets tend to recover while the timeline remains unrestricted,” said the CoinDCX research team.
Ether saw even steeper losses, falling 14.7% globally to $1,543 and 13% in India to $1,630.
“Global markets are facing a broad sell-off, which has spilled into crypto… However, a potential bright spot lies ahead as US federal agencies are expected to disclose the US crypto holdings later today. A sizable confirmation could trigger a relief rally,” noted Edul Patel, CEO of Mudrex.
Major altcoins like Ripple, Solana, Dogecoin, Cardano, and Chainlink also tumbled. The market cap dropped by 8.10% in 24 hours, falling to $2.45 trillion, according to CoinMarketCap.
Stablecoins such as Tether and Binance USD stayed resilient with minor gains.
“As futures on Wall Street dipped and ‘Black Monday’ repeat fears emerged, the coupling between traditional markets and crypto holdings becomes more visible,” said Avinash Shekhar, CEO of Pi42.
Analysts warn of continued volatility in the coming days.
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