By Michelle Black, Business Correspondent
Published: April 06, 2025
The global cryptocurrency market cap plummeted by $250 billion, a 9.29 percent drop between April 3—when Trump unveiled his extensive tariff plans—and April 7.
By Monday morning, Bitcoin had sunk to a five-month low of $76,884.04, reflecting a 7.2 percent decline in the past 24 hours and a 5.3 percent loss over the previous week.
Ethereum experienced even steeper losses, tumbling 16.7 percent in the last day and 15.8 percent over the past seven days.
Monday also marked the first time Bitcoin dipped below $75,000 since Trump’s November election win.
Despite reassurances, jittery investors, unsettled by broader global market turbulence, offloaded riskier assets amid fears of escalating market disorder.
In contrast, gold prices have surged almost 4 percent over the past month.
Global markets have been in freefall since Trump revealed his tough import tariffs last Wednesday.
In the two trading sessions following the announcement, global equities shed $7.46 trillion in value, as measured by the S&P Global Broad Market Index’s market cap.