Bitcoin Bears Eye $70K, Ether Drops 10% as Trump Tariffs Start Global Menace
“For investors, the short-term outlook calls for caution, while a further drop to $70,000–$75,000 for Bitcoin is possible if trade tensions escalate,” one trader said.
Keep up with what's happening in the crypto world in real-time.
“For investors, the short-term outlook calls for caution, while a further drop to $70,000–$75,000 for Bitcoin is possible if trade tensions escalate,” one trader said.
Tensions between the US and China prompted a sharp drop in the yuan and renewed interest in Bitcoin as a safe haven.
The cryptocurrency market, along with traditional stock markets, experienced a significant downturn in the first quarter of 2025. This market downturn is attributed to both trade war fears and diminished user sentiment, as indicated by the declining net unrealized profit/loss.
Ethereum has only outperformed Bitcoin for 15% of all trading days since its launch almost a decade ago, according to analysts.Since Ether (ETH) began trading in mid-2015, it has underperformed against Bitcoin (BTC) 85% of the time, analyst James Check said in an April 8 X post. Data shared by Check shows that Ether significantly outperformed Bitcoin in its early years from mid-2015 to around mid-2017, and it had two short periods in late 2019 and early 2020 when the ETH to BTC ratio was in Ether's favor.
The wider Asian major stock indexes opened Wednesday in jitters following the United States bid to impose a 104 percent tariff against China. The Asia Dow, Nikkei 225, and Hang Seng had dropped around 2 percent during the late eastern financial trading session.
The corporate world's biggest Bitcoin holder has stopped buying more of the cryptocurrency as prices fell sharply last week. According to recent filings, Strategy reported a massive $5.91 billion unrealized loss for the first quarter of 2025, though this blow was softened by a $1.69 billion tax benefit.
The 10-year US Treasury yield has spiked, which is unusual in a bearish equity market. Typically, long-term yields fall in such conditions as the Fed prepares to cut rates to support the economy.
In a thread on X, business cycle analyst Tomas (@TomasOnMarkets) explains where the global economy currently stands and what that means for risk assets, including Bitcoin. Describing what he terms a “short and shallow” full business cycle that started in 2023, faded in 2024, and bottomed out in early 2025, Tomas believes this fleeting cycle was masked in part by a weak Chinese economy and a rapidly strengthening dollar.
Bitcoin and Ether extended losses on Wednesday as renewed US-China trade tensions and looming tariffs drove a broader 7% drop in the crypto market. The post Bitcoin, Ether Extend Losses as Investors Brace for Prolonged Tariff Impact appeared first on Cryptonews.
Bitcoin price came crashing down under $75,000 for the second time in the past week as Donald Trump's 104% tariff on China went into effect. Riskier assets like equities and crypto have been facing the most heat in this tariff war, with BTC extending its weekly losses to 11%, with altcoins led by Ethereum (ETH)
A shift to easing by the Fed could spark a crypto rally, while a hawkish stance may suppress risk assets.
Bitcoin price started a fresh decline below the $78,000 zone. BTC is now consolidating losses and might face resistance near the $77,800 zone.
Bitcoin has bounced back from its latest low as on-chain data shows the Whale Transaction Count has witnessed a spike on the network. Bitcoin Whale Transaction Count Has Just Seen A Large Spike As pointed out by analyst Ali Martinez in a new post on X, whales notably upped their activity during the recent price surge.
This pause highlights a cautious approach, with a $5.91 billion unrealized loss reported for Q1 2025.
Bitcoin sharply fell below $75,000 as Asian and Pacific stock markets opened on Wednesday morning, shedding 6% in a single day. Global financial markets are sinking under pressure from the US imposing a 104% tariff on Chinese imports.
Tim Draper is all in on Trump's trade offensive, calling it a powerful reset to end global freeloading, crush weak leadership, and spark massive U.S. innovation.
The Trump administration's sweeping tariffs could collapse US demand for Bitcoin mining rigs, which would benefit mining operations outside the country as manufacturers will look outside the US to sell their surplus inventory for cheaper, says Hashlabs Mining CEO Jaran Mellerud.“As machine prices rise in the U.S., they could paradoxically decrease in the rest of the world,” Mellerud said in an April 8 report.
The Bitcoin (BTC) price crash to $74,000 has left traders speculating whether the cryptocurrency has finally hit a bottom. However, a CMT-certified analyst suggests that Bitcoin's price correction is far from over.
Bitcoin could challenge gold as a hedge against inflation over the next decade, according to Blockstream CEO Adam Back.
A Bitcoin user accidentally paid nearly 0.75 BTC in transaction fees, worth around $60,000, after making a panic-driven error on April 8, 2025.
Bitcoin (BTC) futures saw a dramatic surge in trading activity over the past few days, revealing a hyper-reactive, highly leveraged, and structurally cautious market. Across all major derivatives exchanges, daily futures volume soared from $109.39 billion on April 4 to $227.53 billion by April 8, a 108% increase in just four days.
After a daily loss of 1.83% Stellar's price is currently at $0.22, aggravating the bearish state of the asset. As a result of the overall decline in the market, XLM is now in danger of a death cross, a bearish technical signal that appears when the 50-day moving average falls below the 200-day moving average.
Billionaire and Block CEO Jack Dorsey says that Bitcoin (BTC) is at risk of failure if it doesn't manage to tackle one critical use case. In a new interview on the Presidio Bitcoin YouTube channel, Dorsey is asked to imagine that he fast-forwarded to the future where Bitcoin has failed.
Arthur Hayes is calling it: China's yuan devaluation is setting the stage for a tidal wave of capital to rocket into bitcoin and ignite a historic bull run.
