The U.S. President Donald Trump’s announcement of April 6th as “Liberation Day” has done more than stir political controversy. It has sparked a global financial turmoil. Stock markets across China, Japan, Germany, the UK, and the U.S. crashed for a second straight day. The reciprocal of tariffs and the undertaken measures by countries has taken a toll on the financial market.

Crypto Market Mirrors Stock Market

The global cryptocurrency market cap nosedived by 8.49% to $2.44 trillion, reflecting growing investor fear. Bitcoin, Ethereum, Solana, and XRP all posted sharp losses, with Ethereum and XRP each falling over 14%. Meanwhile, trading volume skyrocketed by 186%.

Read our Bitcoin (BTC) Price Prediction 2025, 2026-2030 to know what could happen next to BTC’s price!

Liquidations Cross $1 Billion | Fear & Greed Index Hits Extreme Fear

According to CoinGlass, in the past 24 hours, crypto liquidations have crossed over $1.02 billion, an eye-soaring 795.54% spike. This marks one of the highest liquidation events since March 2020. The Fear & Greed Index has collapsed to 17, indicating extreme fear across the market. In this crypto market bloodbath, only KAVA managed to stay afloat with minor gains, while BERA, LTC, and LDO were among the day’s biggest losers.

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