The cryptocurrency market experienced a significant downturn on Monday, April 7th, wiping out billions in value as renewed recession fears sparked a selloff across global assets. Major altcoin tokens like Ethereum (ETH) and Solana (SOL) witnessed substantial drops of 19% and 18%, respectively, before recovering some ground throughout the day. Bitcoin (BTC), despite experiencing a notable dip of 9.65%, was not spared from this market volatility. Factors contributing to the sudden downturn include increasing tariffs by President Trump, causing a global sell-off across various asset classes. While crypto initially appeared largely insulated from last week’s $6.5 trillion stock market plunge, recent market fluctuations suggest otherwise.