Wall Street’s one-day loss tops the entire crypto market cap
On April 4, the US stock market experienced a significant decline, losing more than the entire cryptocurrency market's worth, which was valued at $2.68 trillion at the time. The stock market's losses amounted to approximately $570 billion, fueled by concerns over US President Donald Trump's tariffs. Notably, the Nasdaq 100 entered a bear market, with a decline of 6% on that trading day—the largest drop since March 2020. Tesla, Nvidia, and Apple were among the major stocks leading the losses. Overall, US stocks have lost around $11 trillion since February, raising recession concerns. In contrast, Bitcoin's performance remained relatively stable, trading at $83,749 with only minor fluctuations despite the turbulent market conditions. Some crypto skeptics noted that while the broader stock market tanked, Bitcoin held its ground, suggesting a divergence in market reactions amidst macroeconomic uncertainties. As the crypto industry continues to observe these developments, many analysts find Bitcoin's resilience amidst stock market declines to be intriguing.
Source 🔗