Cryptocurrencies plummet amid Donald Trump tariff war, Bitcoin down over 7%

US President Donald Trump's worldwide trade war had a negative impact for cryptocurrencies, as evidenced by the sharp decline in value of many tokens on Monday, April 7. The biggest cryptocurrency by market value, Bitcoin, dropped 7.67% to $76,947.87. This decline occurred when investors' desire for riskier assets, including cryptocurrency, was diminished by the ongoing trade battle.

In the meantime, XRP plummeted 17.02% to $1.76, Solana declined 15.02% to $101.79, Ethereum sank 14.54% to $1,545.19, and DOGE fell 15.56% to $0.1412. Trends in the stock market were reflected in the cryptocurrency market. The tech-heavy Nasdaq Composite Index fell 962.82 points, or 5.82%, to 15,587.79 during the previous session, as US stocks fell.

The Nasdaq-100 Index down 1,123.78 points, or 6.07%, to 17,397.70, while the Nasdaq US 500 Large Cap Index fell 170.18 points, or 6.06%, to 2,638.28.