Even some cryptocurrency skeptics point out that Bitcoin's decline is far less than the recent stock market.
Due to ongoing concerns about tariffs by US President Donald Trump, the losses in the US stock market on April 4 exceeded the value of the entire cryptocurrency market.
On April 4, the US stock market lost $3.25 trillion, which is approximately $570 billion higher than the entire cryptocurrency market's valuation of $2.68 trillion at the time of this article's publication.
Nasdaq 100 Index Currently "in Bear Market"
TradingView data shows that among the seven stocks, Tesla (TSLA) led the decline, dropping 10.42%, followed by NVIDIA (NVDA) falling 7.36%, and Apple (AAPL) dropping 7.29%.
Traders on X posts on April 4 stated that the widespread decline indicates the Nasdaq 100 Index has "entered a bear market" after falling 6% during the full trading day. This is the largest single-day drop since March 16, 2020.
"The US stock market has shrunk by $11 trillion since February 19, with the possibility of an economic recession exceeding 60%," the message added. Kobessi's message stated that Trump's tariffs announced on April 2 were "historic" and that an economic recession would be "unavoidable" if the tariffs continue to be implemented.
On April 2, Trump signed an executive order imposing reciprocal tariffs on trade partners and a 10% baseline tariff on all imported products from all countries.
Trump stated that the reciprocal tariffs would be approximately half the tariff rate that US trade partners impose on US goods.
Meanwhile, cryptocurrency industry professionals noted that despite the continued stock market decline, Bitcoin remains stronger than most expected. Cryptocurrency trader Plan Markus pointed out in an X post on April 4 that while the entire stock market is "crashing," Bitcoin remains stable.
Even some cryptocurrency skeptics point out that Bitcoin's performance stands in stark contrast to the US stock market during recent macroeconomic uncertainty.
Stock market commentator Dividend Hero told his 203,200 followers that he "used to hate Bitcoin, but seeing it not drop during a stock market crash is very interesting to me".
Meanwhile, technical trader Urkel stated that Bitcoin "seems to not care at all about the tariff war and market crash." According to CoinMarketCap data, at the time of this article's publication, Bitcoin was trading at $83,749, down 0.16% over the past seven days.
