What will cryptocurrency enthusiasts have in the hearts of this weekend? Do you touch the grass? Are you planning their summer vacation?
No, today, Sunday, April 6th, judging by the fullness of social media, the minds of most crypto market participants are threatened by the idea that tomorrow could turn into a “Black Monday” not only for traditional markets, but also for Bitcoin (BTC) and other digital assets.
Arthur Hayes, popular speaker and former CEO of Cryptocurrency Exchange Bitmex, also asks the audience questions in these two ominous terms from the Formula. For experts, all eyes are at GMT at 6pm. This is when the futures of the S&P 500 open.
Family, do we repeat Black Monday? SPX Futs will open at GMT+8 at 6am. Where will SPX open for Asian morning trade? $BTC didn’t tell me how things shake over the weekend.
– Arthur Hayes (@cryptohayes) April 6, 2025
But what’s important is what will happen in Asia when the US market opens. And since Bitcoin doesn’t do much on weekends, it rarely tells the market how things shake.
To conclude Hayes’ analysis, it’s the fog of war in the market for now. But it’s a major one, and there are deadlines that traders can understand when they ultimately face reality.
The last “Black Monday” was seen accurately in 2020 on March 16th, and was the second of the month. This was one of the toughest days in market history, and came amidst the fear of pandemic escalation and recession. Some analysts say this is even worse than the infamous 1987 figure.
It is worth keeping in mind that as tomorrow approaches, some black Mondays had a temporary impact, while others were the forerunners of real crises like 1929 and 2020.
