Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Crypto market wipes $300 billion over the weekend

Bitcoin ( BTC ) was noted in the immediate aftermath of President Donald Trump’s Liberation Day tariff announcement for trading separately from most other risk assets. Specifically, unlike U.S. – and foreign – stocks , BTC held relatively steady on Friday and Saturday, promising to retain its critical support levels at approximately $82,000. A similar phenomenon was seen in the entire cryptocurrency market . Despite the overall market capitalization plunge amounting to $400 billion from $2.75 trillion at the tariffs’ announcement to $2.35 trillion at press time, the bulk of the erasure occurred in two brief crashes. First, the total valuation of digital assets dropped by about $150 billion between Thursday, April 3, and Friday, April 4. It then held steady over most of the weekend, only to accelerate on its downward trajectory on Sunday. Ultimately, the biggest collapse occurred between the afternoon of April 6 and the early hours of Monday, April 7, as cryptocurrencies wiped out nearly $300 billion in less than 24 hours, having fallen from relative stability near $2.63 trillion to $2.35 trillion at press time, according to data retrieved by Finbold from TradingView on the day. Total cryptocurrency market capitalization one-week chart. Source: TradingView Bitcoin leads the crypto tariff crash Bitcoin seemingly spearheaded this fall as it crashed under $80,000 for the first time in months. By press time on Monday, BTC was changing hands at $75,383 after a 9.67% daily drop. BTC price one-week chart. Source: Finbold The entirety of the collapse can be most elegantly seen as the continuation of digital assets’ increased correlation with other risk assets like stocks. The latest plunge has been a part of the reaction to President Trump’s latest round of tariffs, and the expectation this week will see dozens of countries impose their own retaliatory dues. Crypto’s correlation with stocks Such correlation for digital assets has been observable since at least the summer of 2024 when BTC led a fall as the yen carry trade was unwinding and was reinforced by multiple other external calamities in subsequent months, including the DeepSeek-driven tech sell-off, and early tariff announcements. It is possible that at least some of the growing similarities between stocks and cryptocurrencies can be linked to the approval of spot Bitcoin and Ethereum ( ETH ) exchange-traded funds ( ETFs ), as their approval introduced numerous traditional investors to blockchain assets. Featured image via Shutterstock The post Crypto market wipes $300 billion over the weekend appeared first on Finbold . Coinpaper

---

U.S government suffers 26% loss on crypto since Trump became president

While on the campaign trail, Donald Trump appeared like a dream for cryptocurrency investors , promising that if he is re-elected, the U.S. will become one of the world’s most friendly countries regarding digital assets. The promises were seemingly taken at face value, as the election victory generated a powerful rally with the discussion of when the government would start accumulating cryptocurrencies , per the strategic reserve promises, coming to great prominence. The reality of the new administration proved quite different, and instead of the Federal Government increasing its digital assets holdings, the value of what was already owned dropped significantly. Specifically, the U.S. was recorded as owning $21.15 billion worth of cryptocurrency on January 20, but the number dropped to $15.45 billion by press time on April 7, for a total loss of 26.67%, per the data Finbold retrieved from Arkham Intelligence on the day. The majority of America’s digital assets are Bitcoin ( BTC ) seized by the authorities in various law enforcement actions, and the value of said BTC plunged from $20.64 billion on the day of Trump’s inauguration to $15.12 billion. U.S. cryptocurrency holdings value, three-month chart. Source: Arkham Why the Government’s crypto portfolio is collapsing in value Though President Donald Trump has yet to fulfill his promise of establishing a national cryptocurrency reserve and buying additional coins and tokens, he has, for the most part, kept true to his pledge not to sell any of the digital assets already owned. Indeed, the majority of the government’s losses can be directly linked to the collapsing value of cryptocurrencies in recent weeks. The Liberation Day tariff announcement alone led to a $300 billion market capitalization wipe over the latest weekend. Bitcoin, America’s single biggest digital asset holding, also suffered a massive plunge in recent trading. With its press time price of $76,365, it is not only at its lowest value since November 2024 but also 18.43% in the red year-to-date (YTD). BTC YTD price chart. Source: Finbold Lastly, as BTC stood at $101,762 on inauguration day, it collapsed 24.96% since Trump re-entered the White House. The post U.S government suffers 26% loss on crypto since Trump became president appeared first on Finbold . Coinpaper