Last night was the most magical night globally: the US stock market evaporated 3.2 trillion in a single day, yet Bitcoin surprisingly held steady at 83,000, slapping the skeptics in the face!

Written by: CIARAN LYONS, Cointelegraph

Compiled by: Lawrence, Mars Finance

Even some cryptocurrency skeptics have pointed out that Bitcoin’s decline is far less than that of the recent stock market.

Due to escalating concerns over U.S. President Donald Trump’s tariffs, the losses in the U.S. stock market on April 4 exceeded the total value of the entire cryptocurrency market.

On April 4, the U.S. stock market lost $3.25 trillion, which is about $570 billion higher than the entire cryptocurrency market valuation of $2.68 trillion at the time of this article’s publication.

The Nasdaq 100 index is currently “in a bear market”.

TradingView data shows that among the seven major stocks, Tesla (TSLA) led the decline on the day, falling by 10.42%, followed by Nvidia (NVDA) which fell by 7.36%, and Apple (AAPL) which fell by 7.29%.

Traders stated in a post on April 4 that the significant decline across the board indicates that the Nasdaq 100 index is now “in a bear market” after dropping 6% during the entire trading day. This is the largest single-day drop since March 16, 2020.

“Since February 19, the U.S. stock market has shrunk by $11 trillion, and the possibility of a recession exceeds 60%,” the letter added. Kobessi’s letter stated that the tariffs announced by Trump on April 2 are “historic,” and if the tariffs continue to be implemented, a recession will be “inevitable.”

On April 2, Trump signed an executive order imposing reciprocal tariffs on trade partners and a baseline tariff of 10% on all imported products from all countries.

Trump stated that reciprocal tariffs will be about half of the tariff rates that American trading partners impose on American goods.

At the same time, cryptocurrency industry insiders pointed out that despite the continuous decline in the stock market, Bitcoin still outperforms most people’s expectations. Cryptocurrency trader Plan Markus noted in a post on X on April 4 that while the entire stock market is “plummeting,” Bitcoin remains stable.

Even some cryptocurrency skeptics have pointed out that during recent periods of macro uncertainty, Bitcoin’s performance has stood in stark contrast to that of the U.S. stock market.

Stock market commentator Dividend Hero told his 203,200 fans that he “used to hate Bitcoin, but seeing it not drop when the stock market plummeted is very interesting to me.”

Meanwhile, tech trader Urkel stated that Bitcoin “doesn’t seem to care about the trade war and market crash at all.” According to data from CoinMarketCap, as of the publication of this article, Bitcoin is trading at $83,749, down 0.16% over the past week.