Crypto Prices Soar as Markets Crash—What’s Behind It?

Bitcoin climbed to $77,342 on April 9 after gaining 0.40% in the last 24 hours, defying a broader downturn in global stock markets. Ethereum followed with a 0.34% increase, trading at $1,471, while XRP rose by 0.48% to $1.81 during the same period.

According to market data, this price surge came as financial markets reacted to escalating trade tensions. On April 9, U.S. President Donald Trump announced new global tariffs, with China facing the highest rate of 104%. Other impacted nations included India at 26%, South Korea at 25%, Japan at 24%, and Vietnam at 46%.

The crypto market’s upward trend contrasted sharply with traditional financial markets, which fell under pressure. The Dow Jones Industrial Average dropped by 320 points, closing at 37,645.59. The S&P 500 declined by 1.6%, and the Nasdaq Composite lost 2.1%. Asian markets also experienced losses, with Japan’s Nikkei 225 falling nearly 4% and Hong Kong’s Hang Seng Index down by 3.1%.

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Digital Assets Attract Traders as Tariffs Shake Global Markets

Investors responded to the tariff-driven uncertainty by shifting from equities to digital assets. The positive 24-hour performance of Bitcoin, Ethereum, and XRP highlighted growing interest in crypto amid global economic pressure.

A contradictory investor signal appeared through Bitcoin spot ETFs which experienced net withdrawals of $224 million on April 8. The Grayscale Trust GBTC enabled the largest withdrawals at $303 million but Bitwise’s BITB received $40.3 million inflow. The financial performance of BlackRock’s IBIT and Fidelity’s FBTC demonstrated slight productive growth.

Despite ETF outflows, trading volumes surged across major tokens. Bitcoin’s 24-hour volume reached $55.5 billion, while Ethereum saw $27 billion in transactions, reflecting high activity among traders.

Conclusion

In the past 24 hours, the crypto market showed resilience while global stock markets declined due to newly announced U.S. tariffs. Investors seeking protection from economic instability turned to digital assets, helping Bitcoin and other major tokens record steady gains.

Also Read: Ethereum Slides Further as Whale Liquidates $15.7 Million ETH Amid Weak Technical Structure

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