On Saturday, April 5th, the total market value of cryptocurrencies reached over $2.7 trillion, while fear of a new trade war wiped out over $1 trillion from the value of US tech giants’ stocks. Following Donald Trump’s fresh tariffs announcement on Thursday, global markets reacted swiftly. The Dow Jones index dropped over 3,000 points, and crude oil prices (WTI) also decreased by over 10%. However, the biggest blow hit the US technology sector. Apple, Microsoft, and Nvidia, three major companies in the world by market value, collectively lost over $1 trillion of their value after these tariffs were declared. These simultaneous declines among the largest US companies indicate that investors are more concerned about systematic risks in the overall market than the performance concerns of individual companies. These new threats have led investors to exit the US stock market and move towards alternative markets like private equity and cryptocurrencies. Despite severe fluctuations in global markets over the past week, the price of Bitcoin (BTC) remains above $80,000, attracting investors’ attention. According to available data, the total market value of cryptocurrencies at the time of writing this news has reached $2.7 trillion, with its weekly decline being less than 8%. Bitcoin’s price, while maintaining the $82,000 level, reflects a stable performance in the overall crypto market. With the exit of weak investors and the stability of Bitcoin prices, altcoins have also found new buyers. In this regard, top altcoins like Ripple (XRP), Binance Coin (BNB), and Cardano (ADA) have maintained their important support levels at $2, $590, and $0.65, respectively. Major digital currencies like Ethereum (ETH) and Solana (SOL) have also stabilized near their key levels, ranging from $1,800 to $119, respectively. Meanwhile, Solana, which had the weakest performance among top altcoins, has only dropped 5% in the weekly range, despite downward pressures due to token releases and FTX exchange repayments. You can track the prices of all tokens and cryptocurrencies live and in real-time on the digital currencies’ momentary price page.
