Bitcoin will decline in the $77K, Ether, XRP and Solan Deepun struggle ahead of US market opening

Key takeout

Bitcoin and major altcoin suffered significant losses due to concerns over the new US customs policy. Cryptocurrency market capitalization has dropped by more than 10%, accounting for a loss of $100 billion.

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Bitcoin fell below the $77,000 level in trading earlier Monday as the broader crypto market fell. Losses have increased across altcoins as majors such as ether, XRP and Solana suffered double-digit losses prior to opening the US stock market.

Bitcoin Falls, Altcoin Bleeding as Trump Tariffs Clash with Asian Markets

Bitcoin today fell below $75,000 since November, the lowest level since November, at its lowest level since November, as concerns over President Trump’s new global tariff policy are rising, according to Coingecko data.

The crypto market sale has been bolstered with major altcoins that have severe losses.

Ether was down 17%, trading for under $1,400, not seen in March 2023. A sharp price drop forced the liquidation of Ethereum whales, which suffered more than $100 million.

XRP fell 16% to $1.7, with its market capitalization falling to $102 million, losing its position among the top three crypto assets. Solana and Dogecoin fell 16% each, while Cardano fell 15%.

Binance Coin and Tron showed more resilience, down 8% and 6%, respectively. Total crypto market capitalization fell by more than 10% to $2.5 trillion, accounting for the loss value of approximately $100 billion within 10 hours.

The decline coincided with a dip in Asian stock markets. Taiwan’s benchmark index plummeted by nearly 10%, the largest day drop since 1990.

Stocks in major Taiwanese companies such as TSMC and Foxconn fell nearly 10%, causing automatic trading halts. In response, the Taiwanese Financial Supervisory Board (FSC) introduced temporary, short-term restrictions to stabilize the market.

The ripple effect was felt throughout the region. Japan’s Japanese index fell sharply by more than 8% on April 7th, while Hong Kong’s Hang Seng Index sank about 12%. China’s CSI 300 index also fell sharply, falling 7%.

In Korea, Kospi ran over 5% early in the session, prompting a five-minute circuit breaker. The Channel Times Index in Singapore was also unavoidable, and I skated nearly 8%.

The Australian and New Zealand markets continued to be downtrend. Australia’s ASX 200 fell 6.3%, while New Zealand’s NZX 50 exceeded 3.5%.

Analysts’ eyes are 70% Bitcoin advantage, but Altcoins are still wary

Bitmex co-founder and former CEO Arthur Hayes said he was there on Monday I actively buy Bitcoin while maintaining a careful stance With Altcoins.

“I’m nibbled at $BTC all day and will continue,” Hayes said, indicating a continuous Bitcoin accumulation strategy amid the market volatility.

Analysts point to cheap altcoins, but expect Bitcoin’s domination – total crypto market capitalization share to rise to 70%, meaning Bitcoin’s market-leading profit.

“Shit is in the strike zone,” he said. “I think #bitcoin’s dominance will continue to zoom to 70%. So we’re not going to goat in the shit supermarket.”

Hayes reiterated that the catalyst for Bitcoin’s growth is the ongoing use of central bank financial stimuli in response to the slowdown in the economy.

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