Virtual asset market plummets amid Black Monday fears… Bitcoin down 4% from the previous day

The aftermath of President Donald Trump's tariff policy is hitting the virtual asset (cryptocurrency) market. Most major virtual assets are recording significant declines, causing the total market capitalization of the virtual asset market to drop by 5.79% on this day.

As of 6:20 a.m. (Korean time) on the 7th, the leading virtual asset Bitcoin (BTC) is recording $79,331, down 4.45% from the previous day. Bitcoin briefly fell below the $79,000 mark around 5 a.m. but has since partially recovered.

Altcoins showed a much more pronounced decline. The leading altcoin Ethereum (ETH) plunged 10.78% during the day, falling below the 1600 mark, and others like XRP (-6.63%), Binance Coin (-6.02%), Solana (-9.59%), Dogecoin (-9.02%), TRON (-2.84%), and ADA (-10.25%) also fell sharply.

The decline on this day is also analyzed as the aftermath of the tariff policy announced by President Trump last week. In particular, as key figures in the Trump administration expressed a tough stance on tariffs, investor sentiment seems to have worsened.

On the 6th (local time), U.S. Treasury Secretary Scott Besant said in an NBC interview that "they have been behaving badly for a long time, and this is not an issue that can be negotiated in a few days or weeks," dashing investors' hopes for a tariff withdrawal.

Commerce Secretary Howard Lutnick also emphasized in an interview on the same day that "the tariffs announced by President Trump are not just a trade issue," stating, "This is a national security issue to reset America's power." He stated, "This is a measure to regain economic leadership," and "the new tariffs will continue."

Virtual asset specialist media CoinDesk evaluated that "the macroeconomic uncertainty caused by the Trump administration's tariff policy is leading to continued selling pressure from investors."

Photo=Ex Capture

In this situation, fears of 'Black Monday' are spreading among investors, centered around X (formerly Twitter). Black Monday refers to Monday, October 19, 1987, when the Dow Jones Index plummeted by 25%.

Arthur Hayes, CEO of BitMEX, warned, "We should pay attention to the opening of the U.S. S&P 500 futures market," and "April 7 could be Bitcoin's Black Monday."