Black Monday was a disaster. How long did it take to recover after previous crypto market crashes?

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

Stock and crypto markets crashed on Apr. 7, 2025. Media dubbed this day a Black Monday, similar to Black Thursday of 2020, Black Monday of 1987, and other “black” dates of the strongest market crashes.

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

As the Trump Administration waged the trade war and imposed tariffs on dozens of countries on a ‘Liberation Day’ (Apr. 2, 2025), markets began to shake, eventually plummeting on the Monday morning of April 7 as Trump didn’t show signs of changing his mind.

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

The crypto market downfall was pretty severe. On Apr. 7, Bitcoin lost around 7.7% in 24 hours, while other top cryptocurrencies saw harsher losses: Ether, Solana, and XRP lost around 20%, BNB saw around 9% decline, etc. The prices retraced by 3 to 5%. Around $600 million in leveraged crypto positions were liquidated within 24 hours. The effects of the market crash have been different from country to country. The market crash may continue as the main factors behind it (trade war and aggressive rhetoric towards Canada and Greenland) persist.