A global sell-off in financial markets has triggered sharp losses in the cryptocurrency market, with crypto assets experiencing unprecedented volatility in recent days. U.S. President Donald Trump’s new global tariff policy has played a significant role in this downturn. On April 7, Bitcoin and Ethereum experienced notable drops as investors reacted to these tariffs. Bitcoin fell below $75,000 mark, sliding over 9.5% within the day. Ethereum saw steeper losses, dropping nearly 15% during the same period. The GMCI 30 Index, which tracks the performance of major cryptocurrencies, plunged more than 15%, and has since lost over 35% since January. These losses are largely in line with the chaos seen across traditional markets as the S&P 500 and Nasdaq both closed nearly 6% lower on April 4. According to analyst Holger Zschaepitz, U.S. stocks shed $8.2 trillion in market value — worse than the worst week of the 2008 financial crisis.