Crypto news: The total cryptocurrency market capitalisation is at $2.42 trillion, down 4.86 per cent over the past 24 hours, on April 9, according to CoinMarketCap data. The downward trend comes as the tariffs that United States President Donald Trump announced last week came into effect today and dragged equity markets, which in turn dragged cryptos and pushed up gold prices.
Further, the market volume for crypto trade over the past day also decreased by 36.14 per cent to $123.47 billion. For the world’s largest crypto token, Bitcoin, its dominance increased by 0.04 per cent over the period to hold 62.62 per cent of the total crypto market share.
Bitcoin Price Today at $76,000; Ether, Solana Prices — April 9
Bitcoin was down 4.56 per cent to around $76,307.79 at 10.35 am on April 9, according to data from CoinMarketCap. Market cap of the token is at $1.51 trillion (down 4.61 per cent), with trading volume over the past 24 hours being $52,78 billion.
Second largest crypto token Ether, took the biggest beating, dropping 9.04 per cent from the previous day, to $1,447.98 on April 9, CoinMarketCap showed. Its market cap was at $174.74 billion and trade volume at $25.58 billion.
For US Dollar-linked stablecoin Tether, prices were at $0.9991, with m-cap at $143.88 billion and trading volume at $92.4 billion. Tether is the world’s most traded cryptocurrency due to its USD link.
For Donald Trump’s favoured Solana token, the price was at $105.16, with m-cap of $54.22 billion and volume of $5.65 billion.
Expert Speak: Have They Given Up on Short-term Recovery?
With Donald Trump refusing to re-think his policies and pushing through with the whopping 104 per cent tariffs on Chinese good imports into the US, most analysts see the chances of avoiding a global trade war dimming, according to a Bloomberg report.
“It seems like people have given up on a major recovery in crypto in the first half of the year,” Sean McNulty, head of APAC derivatives at digital-asset prime brokerage FalconX told the publication. He said the key support level for Bitcoin is around $65,000 levels, noting that overnight, traders bought Put options offering downside protection for Ether and Solana.
Riya Sehgal, Research Analyst at Delta Exchange told Livemint, “Bitcoin’s sharp drop below $75,000, triggered by the U.S.’s steep 104 per cent tariff on Chinese imports, highlights how global trade tensions are now key drivers of digital asset volatility. With over $400 million in liquidations and shorts making up 60 per cent of open interest, investor sentiment has clearly turned cautious.”
She noted that Bitcoin’s correlation with equities has “strengthened … indicating a broader shift in investor behaviour as risk appetite fades. Despite short-term fluctuations, long-term holders continue to show conviction, reinforcing Bitcoin’s narrative as a store of value.”
Short-Term vs Long Term: Experts Optimistic?
Sehgal feels that while the short-term outlook remains volatile, crypto’s long-term fundamentals remain intact, “dependent on macroeconomic stability and regulatory clarity”.
She pointed to the US Department of Justice (DoJ) disbanding its National Cryptocurrency Enforcement Team under the Trump administration as a “pro-innovation stance” that “aligns with broader goals like establishing a national Bitcoin reserve and loosening regulatory pressures”.
Edul Patel, Co-founder and CEO of Mudrex was also positive in his outlook. “Bitcoin has bounced back to $76,000 after retesting the support zone at $74,500 as the trade war escalates. The Dollar Index slipped to 103.0, diverging from Treasury yields—a trend that could support BTC’s near-term price action. According to Glassnode, Bitcoin whales achieved an accumulation score of 1.0, indicating increased buying activity. Bitcoin’s resistance is now back to $79,700, with support remaining above $74,000.”
