7th April 2025, recorded a massive crash on stock and crypto markets. The media labelled this day a “Black Monday”, Similar to the “Black Thursday” of 2020, and other “Black dates” of history. The crypto market downfall was severe.
Bitcoin was reported to have lost around 7.7% in 24 hours, while other top Altcoins suffered harsher losses. Ether, Solana, and XRP lost around 20%, BNB suffered around 9% decline, etc. The prices declined by 3 to 5%. Around $600 million in leveraged crypto positions were liquidated within 24 hours.
According to CoinMarketCap, one of the most popular websites and platforms that provides thorough data and information on cryptocurrencies. This includes their price, trading volume, market capitalization, and other crucial factors.
The global crypto market cap is $2.54T, a 5.11% increase over the last day. The total crypto market volume over the last 24 hours is $149.22B, which totals a 15.18% decrease.
The overall volume in DeFi (Decentralized Finance) is currently $10.27B, making it 6.88% of the total crypto market 24-hour volume. The volume of all stablecoins is now $140.92B, which is 94.44% of the total crypto market 24-hour volume.
Bitcoin’s supremacy is presently 62.50%, recording a 0.39% decrease over the day. The Crypto market is bleeding red due to Trump’s trade war on crypto markets. This trade war has wreaked havoc on cryptocurrencies, Bitcoin included.
The above image shows the recent price, market cap, trading volume, and circulating supply over the last 7 days of Bitcoin and other Altcoins.
Trump’s Steep Tariff
Research shows that the crypto market value dropped by 30%, which was undoubtedly caused by Trump’s tariffs global economic turbulence. Following the recent price of cryptocurrencies, the total crypto market capitalization has drastically dropped by 30% from its peak in December 2024, falling from $3.9 trillion to $2.7 trillion by April 2025.
President Donald Trump, the current President of the United States of America, announced a series of steep tariffs on April 2nd, 2025(Liberation Day) on nearly all goods imported to the US.
In April 2025, the US trade-weighted average tariff surged from 2% to an estimated 24%, the highest peak recorded in over a century, surpassing even the tariffs under the Smoot–Hawley Tariff Act of 1930.
Conclusion
Cointelegraph, a leading digital media center, quotes the founder of MN Consultancy, “Michael van de Poppe”, agreeing that Liberation Day is indeed the climax of uncertainty. He further went ahead to state that soon, the high-ups will come to terms with the changing conditions, and the market will start recovering. Accordingly, in Van de’s opinion, the tariffs may stay in effect from 6 to 12 months.
Regardless of the times that have passed, the countries still seem to be exchanging threats and demands. This may likely prolong the uncertainty climax. Bitcoin has shown its capability to make a comeback during past economic turmoil. Hopefully, this time, it won’t be commodity dip.
