Crypto Week Ahead: Donald Trump’s ‘Orange Monday’ Punches The Air Out Of BTC, Top Coins
US President Donald Trump's trade tariffs have wreaked havoc in the global money market, and it appears that the crypto sector is not immune to the meltdown either. Many are already referring to the meltdown as "Orange Monday" — the Trumped version of Black Monday. As Bitcoin goes below $77,000 for the first time since November 2024, all other coins are now facing a worrying bloodbath. Despite a $5 trillion wipeout in US equities last week, Bitcoin showed strong resilience with only a modest 4% dip, experts told ABP Live, claiming that BTC could take the shape of a hedge against the current volatile situation.
Before we proceed further, readers should note that the overall crypto market and coin prices are extremely volatile. There are no foolproof methods to ascertain how cryptocurrencies are expected to behave in the future.
This article is aimed at helping investors stay on top of the current market scenarios and the biggest events that have already taken place as well as some upcoming occurrences that are worth noting. Investors are advised to do their research before taking any calls.
Crypto Prices Over The Past Week
Last Monday (March 31), the overall crypto market cap stood at $2.72 trillion. BTC price stood at around $83,000. ETH price stood at around $1,900.
A week later, the overall market cap dipped to $2.44 trillion.
Check Out Top Crypto Prices Today
DeFi's total volume stands at $6.52 billion, at 5.56 percent of the total market 24-hour volume. In the case of stablecoins, the overall volume stands at $110.37 billion, at 94.11 percent of the total 24-hour market volume. As per CoinMarketCap, the overall market fear and greed index stood at ‘Extreme Fear’ with 17 points (out of 100).
BTC dominance, at the time of writing, stood at 62.54 percent.
Over the past seven days, Bitcoin achieved a high of $87,892.97 (on April 3) and a low of $76,590 (April 7).
Ethereum, on the other hand, saw a high of $1,920.21 (April 3) and a low of $1,545.20 (April 7).
Crypto Events To Note
Bitcoin plunged below $78,000 amid a wider market meltdown triggered by President Donald Trump’s sweeping global tariffs. The announcement spooked investors, sending the S&P 500 and Nasdaq down nearly 6%, and wiping over $160 billion from the crypto market.
“Bitcoin has fallen below the $78,000 mark, driven by heightened market volatility following the U.S. equity market's sharpest decline since 2020,” said Shivam Thakral, CEO of BuyUcoin.
Ethereum dropped 13%, while Solana and Ripple shed over 12%. “Bitcoin is approaching a ‘death cross,’ potentially signaling further bearish momentum,” noted Sathvik Vishwanath, CEO of Unocoin.
Avinash Shekhar of Pi42 called the crash a “pivotal point” as fear of a ‘Black Monday’ repeat grows. CoinDCX warned this may mark the beginning of a bear market.
“The coupling between traditional markets and crypto holdings becomes more visible,” added CoinSwitch, as traders brace for more turbulence.
What Crypto Traders Are Saying About Current Market Scenario
Edul Patel, co-founder and CEO, Mudrex, told ABP Live, "Bitcoin is attempting to stabilise around the $78,500 mark amid rising global market uncertainty. Anticipation of a volatile Black Monday for U.S. stocks triggered a fresh wave of sell-offs, leading to $590 million in weekend liquidations. Despite a $5 trillion wipeout in U.S. equities last week, Bitcoin showed strong resilience with only a modest 4% dip. With China hitting back with 34% tariffs and Trump pushing for rate cuts, rising volatility may drive demand for Bitcoin as a hedge against the current economic conditions. This correction presents an opportunity to long-term investors for dollar-cost averaging, aiming for better risk-adjusted returns.”
Srinivas L, CEO, 9Point Capital, said, “President Trump's recent implementation of sweeping tariffs has intensified global trade tensions, prompting concerns over retaliatory measures from key trading partners such as China and the European Union. This escalation has injected significant uncertainty into financial markets, leading to increased volatility across various asset classes. In this environment, we anticipate that Bitcoin will experience heightened price fluctuations in the coming week, remaining rangebound and sensitive to news developments until April 9, when the tariffs are scheduled to take effect.”
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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.
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