Following Trump's tariff announcements on April 2, the S&P 500 dropped approximately 10.6%, with gold also declining by 6.4%. Surprisingly, crypto markets held steady over the weekend; however, this was short-lived as Bitcoin fell by 6% and Ethereum by 15.7% by Sunday afternoon. Despite a total crypto market cap decline of $0.23 trillion (8.6%), analysts noted that the CME basis remained firm, indicating a cautious sentiment without signs of panic. Bitcoin's current price represents a 27.2% drop from its January peak, while estimated liquidations in the past 24 hours totaled about $1.42 billion. In spite of the downturn, specific tokens like FART, GRASS, and PENDLE, trading within the $400-$500 million market cap range, exhibited relative strength, suggesting potential upward momentum in contrast to the broader market. Overall, these dynamics highlight the volatility and opportunities present in the crypto space during market downturns.

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