Markets Slide as Bitcoin Hovers Above $81.5K; Traders Eye Trump’s Tariff Announcement
Global markets and crypto assets continued their retreat Monday as anticipation builds over President Donald Trump’s forthcoming tariff announcement, expected on April 2.
Bitcoin (BTC) was trading slightly above $81,500 during early Asian hours, following a weekend slump that erased gains from last week’s short-lived rally. The pullback extended across major altcoins, with XRP and Cardano’s ADA both tumbling 5% in the past 24 hours. Solana (SOL), Dogecoin (DOGE), and Ethereum (ETH) also posted losses between 2% and 3%.
The CoinDesk 20 Index, which tracks the performance of top digital assets, slipped 2.6%.
Despite the downturn, bitcoin-focused exchange-traded funds (ETFs) recorded $196 million in net inflows last week, according to SoSoValue. In contrast, ether-based ETFs saw modest outflows totaling just over $8 million.
The broader market mood soured further as equities in Asia opened in the red for the fourth straight session. Hong Kong’s Hang Seng index dropped 1.7%, Japan’s Nikkei 225 slid 3.8%, and South Korea’s KOPSI fell 3%, as export-driven economies expressed concern over potential barriers to U.S. market access.
Futures for both U.S. and European markets pointed to a weak start. Meanwhile, safe-haven assets like gold surged to record highs, and demand for U.S. Treasuries drove yields lower.
Portfolio managers worldwide are treading carefully, opting to de-risk or delay major allocations until there’s clarity around the upcoming tariff measures and their economic implications.
In crypto markets, upcoming token unlocks are also drawing attention. According to Tokenomist.ai, approximately $751.2 million worth of tokens, including SUI and DYDX, are scheduled for release this week. May is expected to be even more active, with over $4.4 billion in token unlocks projected based on current prices.
