Crypto news: As of April 9, the overall market capitalisation for cryptocurrencies stands at $2.42 trillion, reflecting a 4.86 percent decrease within the last 24 hours, according to CoinMarketCap. This decline correlates with the implementation of tariffs announced last week by United States President Donald Trump, which have negatively impacted equity markets, subsequently affecting the cryptocurrency sector and driving gold prices higher.
Additionally, the trading volume for cryptocurrencies over the previous day saw a significant drop of 36.14 percent, totaling $123.47 billion. Bitcoin, the largest cryptocurrency by market cap, saw its dominance rise slightly by 0.04 percent, now accounting for 62.62 percent of the entire crypto market share.
Bitcoin Price Today at $76,000; Ether, Solana Prices — April 9
As of 10:35 AM on April 9, Bitcoin’s price had fallen by 4.56 percent, sitting around $76,307.79, according to CoinMarketCap data. The market capitalization for Bitcoin is at $1.51 trillion, which represents a 4.61 percent drop, with trading volume over the last 24 hours recorded at $52.78 billion.
The second-largest cryptocurrency, Ether, experienced the most significant decline, dropping 9.04 percent from the prior day to reach $1,447.98 on April 9, as reported by CoinMarketCap. Its market capitalization is presently at $174.74 billion, with a trading volume of $25.58 billion.
For Tether, the US Dollar-pegged stablecoin, prices are at $0.9991. It has a market capitalization of $143.88 billion and a trading volume of $92.4 billion, making Tether the most traded cryptocurrency globally due to its tie to the USD.
The price for Solana, a cryptocurrency favored by Donald Trump, is currently at $105.16, with a market capitalization of $54.22 billion and a trading volume of $5.65 billion.
Expert Speak: Have They Given Up on Short-term Recovery?
According to a Bloomberg report, with Donald Trump steadfast in his policies and enforcing a staggering 104 percent tariff on imports from China, analysts suggest that the likelihood of avoiding a global trade war is diminishing.
“It appears that investors have lost hope for a substantial recovery in cryptocurrency during the first half of the year,” stated Sean McNulty, head of APAC derivatives at digital-asset prime brokerage FalconX. He pointed out that Bitcoin’s critical support level is around $65,000 and noted that traders have been purchasing Put options for downside protection on Ether and Solana in response to these market conditions.
Riya Sehgal, Research Analyst at Delta Exchange, remarked to Livemint that Bitcoin’s significant drop below $75,000, fueled by the US’s steep 104 percent tariffs on Chinese imports, indicates that global trade tensions are now major contributors to the volatility of digital assets. There have been over $400 million in liquidations, with short positions constituting 60 percent of open interest, reflecting a clear shift toward caution among investors.
She highlighted that Bitcoin’s correlation with stock markets has “strengthened… illustrating a significant shift in investor behavior as appetite for risk diminishes. Despite these short-term fluctuations, long-term holders remain committed, reinforcing Bitcoin’s position as a store of value.”
Short-Term vs Long Term: Experts Optimistic?
Sehgal believes that even though the immediate outlook is turbulent, the long-term fundamentals of cryptocurrencies remain stable, reliant on macroeconomic stability and regulatory clarity.
She referenced the disbandment of the National Cryptocurrency Enforcement Team by the US Department of Justice under the Trump administration as a “pro-innovation stance” that aligns with broader objectives, including the establishment of a national Bitcoin reserve and easing regulatory burdens.
Edul Patel, Co-founder and CEO of Mudrex, also expressed an optimistic outlook. “Bitcoin has rebounded to $76,000 after testing the support at $74,500, coinciding with the escalating trade war. The Dollar Index has fallen to 103.0, diverging from Treasury yields—a trend that could support BTC’s price in the near term. As per Glassnode, Bitcoin whales have shown increased buying activity, achieving an accumulation score of 1.0. Bitcoin’s resistance is now at $79,700, with support staying above $74,000.”
