Tariff Turmoil Shakes Crypto Markets as Bitcoin Briefly Plunges Below $78K

A fresh wave of economic uncertainty hit global markets on April 6, as the Trump administration’s sweeping tariff hike rattled investor sentiment. The move, which imposes a 10% tariff on all countries —sent U.S. stock futures into freefall. As expected, the ripple effect didn’t spare crypto. Bitcoin slid more than 9.4% in just 24 hours, currently trading around $75,000. Ethereum bore a heavier blow, tumbling over 18.6% and clawing its way back to $1,466 at press time. The overall crypto market cap dropped over 11%, now sitting at around $2.37 trillion, according to CoinMarketCap. The Crypto Fear & Greed Index, which gauges market sentiment, dipped to 23—deep in “extreme fear” territory. Sundays are typically more illiquid in global markets, but the scale of this drop felt different. Charlie Sherry, head of finance at BTC Markets, explained that thin weekend liquidity can exaggerate volatility. “A few big sell-offs, and things snowball,” he said. “But there’s no mystery here—the tariff shock has spooked everyone.” Wall Street Futures Dive Alongside Crypto The tremors weren’t isolated to digital assets. Stock futures pointed to a rough week ahead. Futures tied to the S&P 500 dropped nearly 4%, the Nasdaq bled red, and the Dow Jones futures fell by over 8%. Analysts from The Kobeissi Letter called the situation dire, stating that the S&P 500 is now officially in “bear market territory.” In a post on X, they noted the U.S. stock market has erased $400 billion daily, on average, for the past 32 sessions. Tom Dunleavy of MV Global even speculated it could become the “worst three-day move for U.S. stocks of all time” if Monday’s markets open in the red again. Tariffs and Talk of Bitcoin Resilience Despite the chaos, some in the crypto world see opportunity. BitMEX co-founder Arthur Hayes believes this tariff-fueled economic instability might actually benefit Bitcoin in the long term. “Chaos and uncertainty are breeding grounds for alternative assets,” he said in a Telegram note. Meanwhile, President Trump is standing firm. On Truth Social, he declared tariffs “a beautiful thing to behold,” insisting the U.S. must correct long-standing trade imbalances. Whether that correction causes a sustained crypto rally or deeper market turbulence remains to be seen. The post Tariff Turmoil Shakes Crypto Markets as Bitcoin Briefly Plunges Below $78K appeared first on TheCoinrise.com .

Source: The Coin Rise