Bitcoin Down 7% Amid Global Tariff War

Cryptocurrencies tumbled on the back of impending global tariff war, resulting in decline of several tokens on April 7. Bitcoin fell by about 7.67%, reaching $76,947.87.

The fall came amid ongoing tariffs as investors reduced their appetite for higher-risk assets such as crypto.

Ethereum fell by 14.54%, hitting $1,545.19, XRP fell 17.02%, hitting $1.76, Solana dropped by 15.02%, hitting $101.79, and DOGE was down by 15.56%, reaching $0.1412.

“As futures on Wall Street dipped and ‘Black Monday’ repeat fears emerged, the coupling between traditional markets and crypto holdings becomes more visible," a Mint report quoted Avinash Shekhar, Co-Founder & CEO of Pi42, as saying. “The sudden plunge of Bitcoin below the $80,000 threshold and overall crypto market selloff that erased more than $160 billion in value a pivotal point fueled by macroeconomic uncertainty and investor wariness.”

Currently, the market cap of crypto stands at $2.5 trillion, which is 6.59% lower than the previous day, CoinMarketCap data said.