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coinpedia 2025-04-09 07:16:21

Crypto News Today (09th April, 2025): Market Crashes Amid 104% Tariff on China?

Crypto News Today (09th April, 2025): Market Crashes Amid 104% Tariff on China?

The post Crypto News Today (09th April, 2025): Market Crashes Amid 104% Tariff on China? appeared first on Coinpedia Fintech News The crypto market today is hammered into a steep correction, losing close to 4% in total market value and bringing the total market cap down to $2.43 trillion. This drop follows the announcement of a 104% tariff amendment on China by the United States, a policy shock that sent another round of shock waves across global financial markets, including crypto. Talking about traditional finance markets, the S&P 500 suffered its worst one-day loss since the 2008 financial crisis. Amidst this turmoil, the Crypto Fear & Greed Index nosedived to 15, signaling “Extreme Fear” among investors. Daily business volumes also reflected the panic, dropping by nearly 35% to $124.44 billion. Bitcoin Price Slips to $77k! Bitcoin has witnessed another setback on its daily chart, this time around it fell to its 24-hour low of $74,589. However, at the time of writing, it is changing hands at $77,140.77. Despite the fall, crypto proponents like Carl Moon and Chiefy believe this to be the final drop before the bull run resumes. Worried about your BTC holdings? Read our Bitcoin (BTC) Price Prediction 2025, 2026-2030 NOW! Altcoins Wear BTC’s Shoes? Ethereum took the hardest hit among the top coins, falling over 6%, while XRP and Solana followed closely behind, with losses at 3.15% and 3.06%. Still, some lower-cap tokens stood out. HYPE, IP, and JASMY managed to register gains of over 3%, a rare sight on a red day. On the flip side, AB token plummeted by over 23%, leading the list of top losers alongside NEAR and EOS, which fell 10.04%, and 8.21%. Curious about XRP’s future? Check out our Ripple (XRP) Price Prediction 2025, 2026-2030 NOW! FAQs 1. Why did the crypto market crash today? The market crash was triggered by the U.S. amending a 104% tariff on China, leading to a global selloff across both traditional and crypto markets. 2. Which cryptocurrencies gained despite the crash? HYPE, IP, and JASMY posted gains of over 3% in the past 24 hours, bucking the overall bearish trend. 3. What does a Fear & Greed Index of 15 indicate? A score of 15 reflects “Extreme Fear,” signaling heightened investor caution and potential for market volatility ahead.

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