The cryptocurrency market experienced a sharp downturn, with Bitcoin dropping below $92,000 and Ethereum falling under $3,200, following speculation over the next Federal Reserve Chair. The market saw $593 million in liquidations within four hours, primarily from long positions. This "Black Monday" crash was triggered by uncertainty surrounding Trump's potential nomination of Kevin Warsh, a known "hawk," as Fed Chair, replacing Jerome Powell. Additionally, Trump's aggressive trade policies, including a proposed 10% tariff on goods from several European countries, have added to market instability. The stalled CLARITY Act in the U.S. Senate, which affects cryptocurrency regulation, further contributed to the market's decline. The delay in the bill's progress has heightened regulatory uncertainty, pressuring crypto assets and related stocks.