April 7, 2025
U.S. President Donald Trump’s newly implemented tariff regime, has taken it toll on Bitcoin as price has fallen below $75,000, hitting an intraday low of $74,637 in global markets.
This represents a significant decline of over 10% from $84,000 last week, indicating intensified economic anxieties and a reflection of a broader financial downturn.
Cryptocurrency’s present price movement is a sign of volatility in the conventional markets. This includes a notable decline in the Dow Jones Industrial Average, which shows how intertwined Bitcoin has become with macroeconomic sentiment.
This broader market collapse stemmed from Donald Trump’s sweeping announcement of blanket tariffs on all U.S. imports, stoking fears of a full-fledged global trade war.
READ MORE; Trump Tariffs Trigger Bitcoin Dip To $82,000
It has caused investors to been increasingly retreating from high risk assets, including cryptocurrencies, driving Bitcoin’s sharp fall.
Though it held steady between $83,000 and $84,000 last week amidst drops in equities and gold, Bitcoin has now lost a staggering 28% from its all-time high of $109,000, achieved in January.
Ethereum (ETH), the second-largest cryptocurrency, was hit harder, plunging 14.66% to $1,544.63 as extensive liquidations ripple through digital asset markets.
Bitcoin and Ethereum collectively accounted for $464 million in long liquidations in the past 24 hours, with total liquidations across all cryptocurrencies exceeding $853 million, according to data from CoinGlass.
This widespread downwards trend has impacted over 280,000 traders globally, sparking double-digit losses for major digital assets holders.
Even the Coinbase 50 index, which tracks the platform’s top 50 most traded cryptocurrencies, has seen an 11.08% decline.
