The Cryptocurrency War Becomes Worse After the Stock Market Crash on Black Monday

The statement by U.S. President Donald Trump on April 6 being “Liberation Day” has done more than stir up political controversy. It has caused a global financial turmoil. The stock markets across China, Japan, Germany, the UK, and the United States have collapsed for the second consecutive day. The response of tariffs and measures taken by countries has harmed the financial markets. The cryptocurrency market reflects the stock market. The global cryptocurrency market capitalization fell sharply by 8.49% to $2.44 trillion, reflecting growing fears among investors. Bitcoin, Ethereum, Solana, and XRP all recorded significant losses, with both Ethereum and XRP dropping over 14%. Meanwhile, trading volume surged by 186%. Liquidation surpasses 1 billion dollars | Fear & Greed Index reaches Extreme Fear According to CoinGlass, in the last 24 hours, cryptocurrency liquidations have surpassed $1.02 billion, a spike of 795.54%. This is one of the highest liquidation events since March 2020. The Fear & Greed Index has dropped to 17, indicating extreme fear across the market. In this bloodbath of the cryptocurrency market, only KAVA remains resilient with a small increase, while BERA, LTC, and LDO are among the biggest losers of the day. Register with us to receive timely updates from the cryptocurrency market as the Black Monday crash continues to impact the cryptocurrency market.