From Cointelegraph

April 6, 2025 2:22:00 pm:

Bitcoin experienced increased volatility leading into the April 6 weekly close due to fears of a stock market crash. BTC/USD dropped below $80,000, down 3% for the week. US trade tariffs and recession concerns caused major losses in risk assets, with the S&P 500 and Nasdaq finishing down nearly 6% on April 4.

Financial commentator Holger Zschaepitz highlighted that Trump’s tariff announcement resulted in $8.2 trillion in stock market value losses, surpassing losses from the 2008 financial crisis. With comparisons to the 1987 crash, CNBC’s Jim Cramer warned of a potential scenario playing out and expressed concerns over the global economic order.

Despite the stock market turmoil, some traders predicted bullish momentum for Bitcoin. Max Keiser forecasted BTC/USD hitting $220,000 by the end of the month, citing a potential mega crash scenario. Other traders anticipated a breakout for Bitcoin in the coming week, with potential for significant price upside.

Traders observed diverging sentiment between Bitcoin and stocks, noting Bitcoin’s resilience in the face of market volatility. Some traders suggested that recent lows around $76,000 for BTC/USD could be a fake breakdown, waiting for a confirmation of an uptrend with a weekly reclaim of $92,000. Market analysts urged caution and advised conducting individual research before making investment decisions.

Read more at Cointelegraph: Bitcoin price drops below $80K as stocks face 1987 Black Monday rerun