PANews reported on April 7th that according to DL News, Bitcoin dropped 10% in the past 24 hours, trading slightly below $74,700, as the ongoing trade war by US President Trump continues to impact global markets. Geoff Kendrick, digital asset research head at Standard Chartered Bank, warned: "Cryptocurrency trends on Sunday often foreshadow stock market performance on Monday, and if the pattern holds, today's opening will be extremely brutal." Last Friday, the Nasdaq 100 index plummeted 5%, the Dow Jones index crashed over 2,200 points, and CNBC's "Mad Money" host Jim Cramer directly pointed out this was a "man-made devastating collapse", with trends remarkably similar to the three days before "Black Monday" in 1987.

Despite the brutal market, Kendrick believes Bitcoin will benefit in the long term. He expects Bitcoin will quickly rebound to last Friday's $84,000 level and prove that while not "digital gold", it still possesses hedging functions during market turbulence. Kendrick emphasized in his report: "Bitcoin will become a tariff risk hedging tool in this trade war. The US isolationist policy increases the risk of holding fiat currency, which will ultimately benefit Bitcoin."