Crypto Market Crash Today: Bitcoin, Ethereum Fall Up To 14% Amid Global Market Meltdown – News18
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Global market fallout, driven by economic uncertainty and US recession fears, hit crypto hard. Bitcoin and Ethereum fell up to 14%. Major cryptos like Solana and Ripple also declined.
Crypto market has bear the burnt of economic market meltdown triggered by Trump’s tariff.
The ripple effect of global market fallout fuelled by rising macroeconomic uncertainty, fears of recession in the US and escalation of the trade war is hitting the crypto market as well, with major crypto coins like Bitcoin and Ethereum down up to 14 per cent. No cryptocurrency remains unscathed in the bearish sentiment. Investors remained apprehensive about the economic implications of the newly imposed tariffs.
Major cryptos mirrored this downward trend, where Ethereum declined nearly 13%, followed by Solana and Ripple declining over 12% in the last 24 hours, reflecting broader market uncertainties.
According to CoinMarketCap, Bitcoin’s price was trading at $76,876 with a fall of 7.72 per cent, while Ethereum was down by 14 per cent to trade at $1,507. XRP’s latest price stood at $1.75 with a drop of 17 per cent.
Bitcoin’s market cap came down heavily by 7.65 per cent to $1.52 trillion.
“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,” said CoinDCX research team.
Indian Market Crash Following Global
The domestic share market on Monday started the week with a massive sell-off in the opening trade with the NSE Nifty and BSE Sensex opening over 3.5 per cent down to hit 10-month lows.
The bloodbath in the domestic market comes even as global markets are witnessing an even worse crash, with Tokyo’s Nikkei 225 index losing nearly 8% shortly after the market opened, Australia’s S&P/ASX 200 tumbling more than 6%, and South Korea’s Kospi down by 4.4%.
The BSE Sensex on Monday crashed 3,939.68 points to 71,425.01 in the opening trade, the NSE Nifty tumbled 1,160.8 points to 21,743.65.
Donald Trump’s Tariff Push
Trump rolled out his reciprocal tariffs on various countries on April 2, including 34% on China, 26% on India, and 20% on the European Union. This sent the US and global financial markets into shock. As a result, nearly $6 trillion has been lost from the value of American stocks in recent days.
