Crypto market wrap: tariffs jitters continue as HYPE, BERA and BONK crash

The cryptocurrency market experienced significant volatility late Wednesday and early Thursday.

As such, several altcoins, including Hyperliquid, Berachain, and Bonk, crashed by double digits.

Furthermore, Bitcoin (BTC) gave up gains from above $88k

Notably, markets remained jittery after US President Donald Trump’s “Liberation Day” announcement.

The global market cap has dipped 3% to $2.67 trillion, with the fear & greed index sinking to 24

Overall volume rose 66% to over $130 billion. Analysts suggest prices are likely to drop further before bouncing

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In the 2017 cycle, Bitcoin experienced 4 Price Discovery Corrections before peaking in its Bull Market

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1:31 am · 3 Apr 2025
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The broader crypto market continues to move in response to macroeconomic data and policy decisions, with tariffs being the dominant factor influencing sentiment.

However, there’s notable interest on the regulatory front as two stablecoin bills in the US advance from Senate and House committee stages.

Also making headlines is Ripple’s unlocking of 500 million XRP, the Russian government’s plans to turn BTC seized in criminal cases into state revenue, and stablecoin issuer First Digital’s response to Justin Sun’s claims by terming it as FUD.

In other crypto news, Tezos-based fantasy game Stables has announced its expansion into the North American market.

The platform is eyeing traction via a partnership with Equibase.

HYPE, BERA, and BONK lead altcoin losers

Some top altcoins bore the brunt of today’s market downturn. Among the top 100 by market cap to drop the most, we have HYPE, BERA, and BONK.

According to data from CoinMarketCap, Hyperliquid’s HYPE fell more than 13% to below $11.80.

Meanwhile, BERA, the native token of Berachain, is down 12% to $6.26. Solana meme coin Bonk (BONK) also tanked more than 11% to $0.00001091

The negative sentiment reflected across many other altcoins, with Ethena, TRUMP, Jito, and Toncoin also down 10% or more

Top crypto performers today

Despite the altcoin slump, some cryptocurrencies bucked the trend.

Bitcoin, which had a day earlier spiked above $88k, showed some resilience as bulls looked to hold $83k.

The strong inflows into US Bitcoin spot exchange-traded funds contributed to this performance.

Among the top 100 cryptocurrencies by market cap, the biggest gainers include Story (IP), MANTRA (OM), and DeXe (DEXE), each rising between 3% and 5%.

Litecoin (LTC) is also one of the top movers in the past 24 hours, with LTC currently hovering around $84.

As for the crypto market outlook going into the US tax day, the overall sentiment remains one where investors are on edge.

The events of “Liberation Day” and the concerns around tariffs could swing sellers into action, which means HYPE, BERA, and BONK might not be the only major coins to record significant losses.

Meanwhile, Bitcoin dipping below $84k brings the $80k mark into play.

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