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Crypto News Today (09th April, 2025): Market Crashes Amid 104% Tariff on China?
The global cryptocurrency market has taken a drastic turn today, with the total value of all digital assets plummeting by almost $100 billion in just one day. The sudden and unexpected downturn is attributed to the shocking news that the United States government has amended its trade policy with China, imposing a whopping 104% tariff on Chinese imports.
As investors scrambled to adjust their portfolios in response to this unprecedented development, risk aversion took center stage, leading to widespread losses across the crypto sector. The aggregate market capitalization of all digital assets plummeted by over 4%, bringing the total value to approximately $2.43 trillion.
The FTX-based Crypto Fear & Greed Index, a closely watched metric that gauges investor sentiment, has reached an alarming level of “Extreme Fear,” further highlighting the gravity of the situation. The index is now at its lowest point since the 2020 crash.
Bitcoin, the flagship cryptocurrency, found itself on the receiving end of intense selling pressure, which led to a sharp correction. The world’s most valuable digital asset plummeted by over 4%, dipping as low as $74,589. While this may seem like a catastrophic event, some market pundits believe that this selloff is merely a temporary blip before the bull run resumes.
Meanwhile, altcoin investors experienced a mix bag of emotions today. While Ethereum and other top-tier projects took an absolute pounding, shedding significant value, a few smaller tokens managed to buck the trend and post gains. HYPE, IP, and JASMY emerged as the top performers in this environment, rising by over 3% each.
On the flip side, some lower-cap coins suffered devastating losses, with AB token plummeting an astonishing 23%. NEAR and EOS also struggled mightily, falling by 10.04% and 8.21%, respectively.
The sudden market downturn has raised several questions in the minds of investors and enthusiasts alike. How will this unexpected development impact the future trajectory of the crypto space? Only time will tell, but one thing is certain: today’s events have sent shockwaves through the global financial landscape.
Source: https://coinpedia.org/price-analysis/crypto-news-today-09th-april-2025-market-crashes-amid-104-tariff-on-china/
