Crypto Crashing Today : Chinese Stock Market , Nasdaq , Hang Seng Index, Nifty 50 Plunge

​On April 7, 2025, the cryptocurrency market experienced a significant downturn following the Trump administration’s announcement of new global tariffs, which heightened investor concerns about a potential global recession. Bitcoin dropped below $80,000, reaching approximately $79,000—a 5% decline over 24 hours—while Ethereum fell 11% to around $1,590. This sell-off led to over $745 million in bullish crypto positions being liquidated within a day. ​

Bitcoin price USD dropped sharply in the last 24 hours as the crypto market reacted to US President Trump’s continued push for restrictive tariffs. Just weeks after a major rally driven by Trump’s new strategic reserve plan, the market reversed, wiping out over half a trillion dollars in value. This sharp decline triggered massive liquidations, with Bitcoin alone facing $250 million in long positions wiped out, according to CoinGlass data.