Crypto Price Today (April 7, 2025): Bitcoin Shrinks on Tariff War; ETH, XRP Drops in Double Digits

– Bitcoin drops 10% amid global tariff war

– ETH, XRP, SOL experience double-digit declines

– Market cap falls by $300 billion

On April 7, 2025, the cryptocurrency market faced a sharp downturn due to a global tariff war impacting financial markets everywhere. Bitcoin fell from a daily high of $83,000 to a low of $74,760, a 10% drop that left many investors reeling. As of now, it’s trading at $77,130, down 6.89% from its peak. This volatility is a stark reminder of the crypto market’s sensitivity to global economic events, even as it continues to mature. The impact of the global tariff war on the cryptocurrency market in April 2025 has been significant.

The tariff war, where countries increase taxes on each other’s goods, significantly affects global trade and financial markets. Ethereum (ETH) took a 16.44% hit, falling below the $1,500 mark. Solana (SOL) dropped 15.5% and is nearing $100, while XRP saw a 14% decline, now trading at $1.77. These double-digit declines mean the prices of these cryptocurrencies dropped by 10% or more, contributing to a staggering $300 billion wipeout from the overall crypto market cap, which now stands at $2.43 trillion, a 7.93% decrease in just 24 hours. The performance of altcoins like ETH, XRP, and SOL during the April 2025 market crash has been particularly notable.

Despite the widespread losses, not all cryptocurrencies followed the downward trend. GRASS, a lesser-known token, managed an 8% gain, proving that even in the darkest of times, there’s always a green shoot somewhere in the crypto garden. Bitcoin may be down, but it’s not out. It’s like the Terminator of cryptocurrencies – it’ll be back.

Among the top losers, Berachain’s BERA took the crown with a 24% loss, followed closely by Zcash (ZEC), MEW (Cats in Dogs World), and SAFE, all down 22%. These figures highlight the brutal reality of the crypto market: when the tide goes out, it’s not just the big ships that get stranded. The crypto market downturn in April 2025 has sparked discussions across various platforms.

Despite the gloom, there’s a silver lining. Bitcoin, ever the resilient beast, showed signs of recovery by April 10, 2025, bouncing back to over $80,000. Technical analysts like AlphaBTC and Rekt Capital are optimistic, suggesting that if Bitcoin can sustain above $81,500, we might see new all-time highs. Even John Bollinger, the creator of the Bollinger Bands, sees potential for a W-shaped recovery pattern, which could propel Bitcoin towards $88,800 and eventually $106,000. Bitcoin price recovery predictions are varied, but the trend looks promising.

Onchain data from Glassnode also offers hope, indicating “near-term seller exhaustion.” This suggests that the market might be approaching a point where selling pressure diminishes, paving the way for a recovery. It’s a reminder that in the world of crypto, every dip is an opportunity for those with the stomach to hold on.

The tariff war’s impact on the global economy underscores the interconnectedness of financial systems. Cryptocurrencies, often seen as a hedge against traditional market turmoil, are not immune to these broader economic forces. Yet, their resilience and potential for rapid recovery highlight their unique position in the financial landscape. The Bitcoin tariff war impact is well-documented and continues to be a subject of study.

As we navigate these turbulent waters, it’s crucial to remember that while the crypto market can be a wild ride, it’s also a testament to the power of decentralization and the potential for financial revolution. The challenges are real, but so are the opportunities. Bitcoin’s dominance and resilience reaffirm its role as the leader in the crypto space, yet altcoins like ETH, XRP, and SOL play crucial roles in this evolving ecosystem, filling niches that Bitcoin itself may not serve as well. The performance of altcoins during market crashes can vary widely.

While some analysts predict a quick recovery, others warn of prolonged volatility due to ongoing tariff tensions. It’s important to approach these predictions with a balanced perspective, understanding the risks and potential regulatory crackdowns or further economic instability that could impact the market. The effect of global tariff war on cryptocurrencies is a topic of much debate and analysis.

Key Takeaways and Questions

What caused the Bitcoin price to drop on April 7, 2025?

The Bitcoin price drop was primarily triggered by the global tariff war’s impact on financial markets, leading to a broader market sell-off.

How have other major altcoins like ETH, XRP, and SOL been affected?

ETH experienced a 16.44% drop to below $1,500, SOL fell 15.5% nearing $100, and XRP declined 14% to $1.77, reflecting the widespread impact of the market downturn.

Which cryptocurrency experienced the highest percentage loss?

Berachain’s BERA saw the highest loss at 24%, indicating significant volatility within the altcoin market.

Were there any cryptocurrencies that gained value during this period?

Yes, GRASS increased by 8%, demonstrating that some cryptocurrencies can buck the trend during market downturns.

What is the current state of the global crypto market cap?

The global crypto market cap stands at $2.43 trillion, reflecting a 7.93% decrease within the past 24 hours due to the market crash.