Cryptocurrencies outperform crashing stocks: Bitcoin nears $90,000 while Wall Street loses $1.5 trillion

Cryptocurrency markets rose significantly on Monday, with Bitcoin reaching an intraday high of $88,527, reflecting renewed interest. While Bitcoin recorded a decent gain of 2.61% by the evening, several alternative digital assets outperformed and achieved more substantial gains. Among them, the prominent financial token (CVX) stood out, climbing 21.04% in 24 hours.

Trump's policies triggered a $1.5 trillion stock crash - cryptocurrencies and gold become safe havens

The crypto economy expanded by 1.77% to $2.73 trillion at 5 pm ET on Monday, a cumulative increase of about $75 billion. Digital assets outperformed stocks by a large margin as traditional financial markets (TradFi) plunged on April 21. Investor confidence was shaken sharply as the Dow Jones plummeted 972 points, the S&P 500 fell 125 points, and the tech-heavy Nasdaq plunged 416 points.

Bitcoin (BTC) traded close to $88,527 before retreating to $87,262 by 5pm, still showing a respectable 2.61% gain for the day — proving that even the king of crypto isn’t immune to some afternoon profit-taking. Visible Finance Token (CVX) climbed 21.04%, while Stack (STX) gained 12.98% throughout the day. Telecoin (TEL) gained 11.57%, while Reserve Rights (RSR) followed suit with a 10.07% gain.

FARTCOIN, MANA, CKB, KAS, and POL also rose, with gains ranging from 4.53% for POL to 8.52% for FARTCOIN. Elsewhere, several tokens fell on Monday, with MANTRA’s OM continuing to lose value despite its burn announcement. OM ended the day with a 6.62% drop, the biggest drop, followed by DEXE, which fell 5.44%. CHEEMS fell 4.12%, while PYTH and THETA dropped 3.62% and 3.54%, respectively.

Gold markets sparkled on Monday with a 3.28% gain to $3,425/oz, consolidating a 12% monthly gain, while silver rose just 0.57% today but remains 2.67% below its level a month ago, a reminder of the precious metal's independent pace.

As the financial world waited with bated breath for President Trump's trade war to dominate the narrative, a staggering $1.5 trillion evaporated from the US stock market today.