Reason to trust
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Bitcoin prices fell below $75,000 on Monday, April 7, the lowest since mid-March as investors reacted to US-China trade relations tensions escalating. The digital currency shed about 6% in 24 hours, CoinMarketCap data revealed, as part of a broader sell-off across both crypto and traditional markets.
US-China Trade War Triggers Market Panic
The sharp decline comes after US President Donald Trump’s recent imposition of tariff hikes and countermeasures by Beijing. The trade tensions sent shockwaves through world markets, with Wall Street suffering its worst fall since the COVID-19 pandemic. On Friday, April 4, the S&P 500 dropped 6%, the Dow Jones Industrial Average fell 5.5%, and the tech-heavy Nasdaq Composite fell 5.8%.
Market commentator Charles Gasparino cautioned on Twitter that “Monday is shaping up to be the ultimate pain day,” and that investors should prepare for further selling pressure as markets open this week. That forecast seems to be coming to fruition as Bitcoin is trading between $74,000 and $75,000, far lower than last week’s levels.
Breaking: One major market analyst just told me “Monday is shaping up to be the ultimate pain day.” Another: “Some really nice buys out there particularly in financials.” As they say disagreement makes a market! Story developing
— Charles Gasparino (@CGasparino) April 6, 2025
Ethereum And Altcoins Hit Harder Than Bitcoin
As Bitcoin lost heavily, other cryptocurrencies plunged even deeper. Ethereum, which is the second-largest cryptocurrency, by market cap, lost 13% – more than double the percentage drop of Bitcoin. Other well-known altcoins fell hard as well, with SOL and DOGE losing more than 10% in one day. ADA went down by 10.40%, while XRP and BNB lost 7% and 6%, respectively.
The worldwide cryptocurrency market capitalization is currently at $2.62 trillion as the majority of top coins fail to find support. Even with the price decline, Bitcoin’s 24-hour trading volume jumped to $26 billion – an 80% rise over the past 24 hours – indicating strong levels of market activity during the sell-off.
Investors Turn To Government Crypto Reserves For Potential Relief
There is a possible silver lining in market chaos. According to Edul Patel, CEO and co-founder at Mudrex, US government agencies will disclose their crypto assets today. “A huge confirmation could lead to a relief rally,” Patel said.
Market sentiment remains weak with the Fear and Greed Index inching towards what experts term “Extreme Fear.” This indicator implies that panicked selling has been controlling recent market trends instead of sound investment choice.
According to market observers’ reports, Bitcoin now has a crucial technical test. “Bitcoin must retake the $80,000 level or it will retest its prior all-time high around $74,000,” Patel further added. This prior all-time high, previously hailed as a milestone, is now a possible support level that traders wish will stop further price declines.
Featured image from Gemini Imagen, chart from TradingView
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
