Crypto Resilience Amid "Black Monday": ETH Down 6.7% While Altcoins Plummet

Introduction
The cryptocurrency market experienced one of its most volatile days with "Black Monday," as global crypto news reported an acute downturn. While Ethereum (ETH) dipped by 6.7%, it showed more resilience compared to numerous altcoins, some of which lost over 95% of their value due to rapid liquidations—the most severe in crypto history.

Market Breakdown: What Happened?

• ETH’s Resilience: Despite a significant 6.7% drop, Ethereum is weathering the storm better than many alternative coins (altcoins).
• Altcoin Catastrophe: Several altcoins suffered drastic losses, experiencing over a 95% decrease in market value.
• Rapid Liquidations: Friday’s crash triggered an unprecedented wave of liquidations, underlining the market’s systemic vulnerabilities.

Crypto Tax Tips & Portfolio Building Strategies

In times of market turbulence, it’s essential to stay informed and strategic. Here are key takeaways for crypto investors:

• Review and Adjust Your Portfolio: Diversification remains crucial. Assess the risk profile of all your crypto holdings.
• Crypto Tax Tips: Keep detailed records of your trades and be aware of tax liabilities linked to crypto trading activity. Consult with experts for tailored advice.
• Risk Management: Implement stop-loss orders and consider hedging strategies, especially during periods of extreme volatility.
• Stay Educated: Follow trusted sources for up-to-date global crypto news to better react to market shifts.

Final Thoughts

Friday’s market action serves as a stark reminder of crypto volatility and the importance of robust risk management and tax planning. Whether you're an experienced trader or a novice building your crypto portfolio, understanding key market movements—informed by global crypto news—can help steer your investment strategy in the right direction.