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Wall Street’s $3.25 Trillion Crash Wipes Out More Than Entire Crypto Market Cap
A historic stock market crash has unfolded on April 4, with the U.S. equity market experiencing a catastrophic decline of over $3.25 trillion in a single day. The unprecedented losses have left investors reeling and sparked widespread uncertainty. Notably, the crypto market cap has not come close to matching such a devastating drop.
In a shocking turn of events, the Wall Street crash erased more than 3 times the total value of the global cryptocurrency market. A staggering $3.25 trillion in value was wiped out in a single day, marking one of the most significant losses on record. In contrast, the crypto market cap stood at a paltry $2.68 trillion.
The catastrophic stock market decline followed a surprise announcement by President Trump, which introduced 10% import duties on all products from all countries and reciprocal tariffs for key trading partners. The sudden shift in market sentiment sent shockwaves through Wall Street, causing widespread panic among investors.
A deepening bear market took hold of the tech-heavy Nasdaq 100 index, which fell an astonishing 6%. This marked a major milestone, as the index officially entered bear market territory. The Magnificent Seven group led the decline, with Tesla plummeting 10.42%, Nvidia dropping 7.36%, and Apple shares declining by 7.29%.
Despite the chaos on Wall Street, Bitcoin’s price remained relatively unscathed. In fact, the cryptocurrency’s value fell a mere 0.16% over the past seven days, according to CoinMarketCap data. Crypto enthusiasts were quick to point out the stark contrast between Bitcoin’s performance and that of traditional equities.
“This is not just about Bitcoin,” noted crypto trader Plan Markus on social media platform X. “It’s about how crypto markets are decoupling from traditional assets during times of macroeconomic volatility.”
As investors struggle to make sense of these unprecedented losses, one thing remains clear: the crypto market has diverged from its Wall Street counterparts in a major way.
Source: https://coinchapter.com/wall-streets-3-25-trillion-crash-wipes-out-more-than-entire-crypto-market-cap/?utm_source=rss&utm_medium=rss&utm_campaign=wall-streets-3-25-trillion-crash-wipes-out-more-than-entire-crypto-market-cap
