Bitcoin (BTC) turned up volatility into the April 6 weekly close as fears of a stock market crash contrasted with bullish BTC price targets.
BTC/USD 1-hour chart. Source: Cointelegraph/TradingView
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Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dropping below $80,000 on the day, down 3% since the start of the week.
The days in between had seen several bouts of flash volatility as US trade tariffs and recession concerns stoked major losses across risk assets.
US stocks in particular recorded significant losses, with both the S&P 500 and Nasdaq Composite Index finishing the April 4 trading session down nearly 6%.
“Trump’s tariff announcement this week has wiped out $8.2 TRILLION in stock market value — more than was lost during the worst week of the 2008