Wall Street's Single-Day Loss Exceeds Total Value of the Crypto Market

On April 4, the United States stock market experienced a loss in value greater than the entire cryptocurrency market's worth, as concerns over US President Donald Trump's tariffs continued to grow.

The US stock market lost $3.25 trillion on April 4, which was about $570 billion more than the entire crypto market's $2.68 trillion valuation at the time of publication.

The Nasdaq 100 has now officially entered a "bear market." Among the Magnificent-7 stocks, Tesla (TSLA) led the losses with a 10.42% drop, followed by Nvidia (NVDA) with a 7.36% decline, and Apple (AAPL) falling 7.29%, according to TradingView data.

This broad market decline indicates that the Nasdaq 100 is now "in a bear market" after a 6% drop on April 4, marking the largest daily decline since March 16, 2020. 

"The US stock market has now erased a massive -$11 trillion since February 19, with recession odds above 60%," noted The Kobeissi Letter in an April 4 post. The account further commented that Trump’s April 2 tariff announcement was "historic," and if the tariffs persist, a recession would be "impossible to avoid."

On April 2, Trump signed an executive order imposing reciprocal tariffs on trading partners and a 10% baseline tariff on imports from all countries.

Trump explained that the reciprocal tariffs would be about half the rate that US trading partners charge on American goods.

Meanwhile, the crypto industry has highlighted that while the stock market keeps falling, Bitcoin (BTC) remains more resilient than many anticipated.

Crypto trader Plan Markus noted in an April 4 X post that while the entire stock market "is tanking," Bitcoin is holding steady.

Source: Jeff Dorman

Even some Bitcoin critics have pointed out the difference in performance between Bitcoin and the US stock market amid recent macroeconomic uncertainty.

Stock market commentator Dividend Hero told his 203,200 X followers that although he has been critical of Bitcoin in the past, he finds it "very interesting" that Bitcoin has remained stable while the stock market is struggling.

At the same time, technical trader Urkel remarked that Bitcoin "doesn’t seem to care at all about tariff wars or the market downturn." As of the latest data, Bitcoin is priced at $83,749, having dropped 0.16% over the last week, according to CoinMarketCap.