On Monday, the cryptocurrency market experienced a notable uptick as bitcoin reached an intraday high of $88,527, reflecting renewed interest. While bitcoin recorded a decent 2.61% gain by evening, several alternative digital assets outperformed, securing more substantial increases. Among them, convex finance token (CVX) stood out, climbing 21.04% within a 24-hour period.
Trump Policy Triggers $1.5T Stock Meltdown—Crypto and Gold Emerge as Havens
The crypto economy expanded by 1.77%, reaching $2.73 trillion as of 5 p.m. Eastern on Monday, with around $75 billion added to the sector. Digital assets outperformed equities by a wide margin as traditional finance (TradFi) markets plunged on April 21. The Dow Jones collapsed by 972 points, the S&P 500 dropped 125 points, and tech-heavy Nasdaq Composite nosedived 416 points amid a sharp erosion in investor confidence.
Bitcoin ( BTC) flirted with $88,527 before settling at $87,262 by 5 p.m., still boasting a respectable 2.61% gain on the day—proving that even crypto’s kingpin isn’t immune to a little afternoon profit-taking. Convex finance coin (CVX) climbed 21.04%, while stacks (STX) advanced 12.98% over the course of Monday’s trading session. Telcoin (TEL) advanced 11.57%, while reserve rights (RSR) followed with a 10.07% gain.
FARTCOIN, MANA, CKB, KAS, and POL also posted increases, ranging from POL’s 4.53% climb to FARTCOIN’s 8.52% uptick. Elsewhere, a number of tokens stumbled on Monday, with MANTRA’s OM continuing to depreciate despite the recent burn announcement. OM ended the day as the steepest decliner, falling 6.62%, trailed by DEXE, which dropped 5.44%. CHEEMS slipped 4.12%, while PYTH and THETA declined 3.62% and 3.54%, respectively.
The gold market sparkled with a 3.28% gain on Monday to the current $3,425/oz, cementing a stellar 12% monthly advance, while silver—up a modest 0.57% today—still languished 2.67% below its month-ago level, a reminder that precious metals march to different drummers.
The financial world holds its breath as President Trump’s trade wars dominate the narrative, with a staggering $1.5 trillion evaporating from U.S. equities in today’s session alone.
