April 7, 2025 — The crypto market woke up to a rough Monday, with Bitcoin tumbling to around $77,000 and Ethereum slipping below $1,540. The sell-off was triggered by global jitters around U.S. President Donald Trump’s newly imposed tariffs, which have sent shockwaves through traditional markets — and now, the digital ones too.
The sharp downturn hit Asia early in the day, wiping out over $160 billion in overall crypto value. Altcoins were hit even harder, as traders scrambled to cut risk in what’s being dubbed another “Black Monday.”
According to Coinglass, over $745 million in bullish crypto positions were liquidated in just 24 hours — the biggest flush-out in nearly six weeks.
“This is a classic risk-off move. Markets are nervous, and crypto isn’t immune,” said Edul Patel, CEO of Mudrex.
Bitcoin briefly fell 7% to $77,077 before slightly recovering to around $78,938. Ether dropped over 12% to $1,538 — marking its lowest price since late 2023. Solana also saw double-digit losses, and even stablecoin Tether saw an unusually high volume as traders rushed for safety.
Market watchers believe the tariffs are spooking investors into pulling back from riskier bets, with fears of a repeat crash like 2020’s “Black Monday” creeping in.
“The tariff war is weighing heavily. We’re seeing macro-driven selling pressure,” noted Sean McNulty from FalconX.
The global crypto market cap dropped 6.59% to $2.5 trillion. But there might be a silver lining: the U.S. is expected to reveal its official crypto holdings soon — a move that could provide clarity and potentially trigger a bounce.
Some experts, including Cosmo Jiang of Pantera Capital, believe the sell-off is more political than structural.
“This isn’t a sign of something fundamentally broken. It’s a temporary pullback driven by uncertainty — and it could reverse just as fast.”
Still, the mood remains cautious. The Fear & Greed Index is drifting toward “Extreme Fear,” and Bitcoin is now dancing dangerously close to key support around $75,000.
Whether the bounce comes soon or not, one thing’s clear — crypto is no longer just a niche asset. It reacts just like the rest of the market when the world gets shaky.
