#BTCBelow80K
Bitcoin (BTC) fell below the key level of $80,000 in preparation for the weekly close on April 6, having lost 3% since the beginning of the week amid increasing fears of a global market collapse reminiscent of the "Black Monday" of 1987. However, crypto traders remain cautiously optimistic as Bitcoin continues to decouple from traditional markets in the face of economic headwinds.
Stocks decline, Bitcoin retains relative strength
U.S. stock indices fell by nearly 6% on April 4, losing more than $8.2 trillion in market value after President Trump announced broad trade tariffs. Commentators likened the week's massacre to the 2008 financial crisis and even the October 1987 crash, with Jim Cramer from CNBC warning that a repeat of the "Black Monday" collapse "is not off the table yet."
Meanwhile, Bitcoin dropped below $80,000, but analysts noted that this movement was relatively mild compared to the chaos in stocks. At the time of publication, BTC was trading near $79,700, down only 3% for the week, demonstrating its increasing resilience to traditional market disruptions.
"The VIX (Volatility Index) closed at its highest level since the COVID crash in 2020, while Bitcoin's volatility is shrinking - a rare divergence," noted crypto analyst Daan Crypto Trades. "This sets the stage for a major crypto rally this week.
