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Bitcoin price rebounded to $80,000 after a sharp decline triggered by fears over US President Donald Trump’s tariff policies. The cryptocurrency market saw panic selling in the past 12 hours as economic concerns spread across various sectors.
Market Cap Holds At $1.5 Trillion As Bitcoin Dominance Grows
According to market data, Bitcoin’s market capitalization currently stands at $1.5 trillion despite recent price fluctuations. While the leading cryptocurrency has bounced back slightly, altcoins continue to struggle with deeper losses.
Bitcoin’s dominance in the overall crypto market has jumped to 60%, showing investors may be seeking refuge in the largest digital asset during uncertain times.
The market is responding directly to broader economic fears rather than crypto-specific issues, market analysts said.
$BTC futures open interest sits at $34.5B. While there was a brief recovery from the $33.8B low on April 3, the broader downtrend remains intact. Futures exposure continues to unwind as traders reduce risk in response to declining price momentum. pic.twitter.com/ZX06yOCtsA
— glassnode (@glassnode) April 7, 2025
Futures Market Shows Surprising Resilience
Based on reports from Glassnode, Bitcoin futures open interest has fallen to $34.5 billion, showing a brief recovery from its April 3 low of $33.8 billion but maintaining an overall downward trend. Traders have been reducing their futures exposure as Bitcoin’s price momentum slowed.
Since March 25, cash-margined open interest declined from $30 billion to $27 billion. Crypto-margined open interest fell during the same time from $7.5 billion to $6.9 billion. More recent figures indicate crypto-margined open interest has started to rise again, indicating that some traders are moving back into riskier positions.
The share of crypto-collateralized futures contracts has reached 21% of open interest from 19% on April 5. This change may render the market more responsive to shift in price and, thus, lead to increased volatility in the next few days.
Limited Liquidations Suggest Controlled Selling
The last 24 hours witnessed $58 million worth of Bitcoin futures liquidations, with longs taking $42 million versus shorts taking $16.6 million. Market watchers point out this liquidation figure is remarkably low considering the 10% price decline in Bitcoin.
Total $BTC futures liquidations hit $58.8M over the past 24h. Longs took the heavier hit with $42.1M wiped out vs. $16.6M in shorts. Despite the price dropping 10%, this liquidation size is relatively modest, suggesting limited leverage chasing upside. pic.twitter.com/104kM2XQoF
— glassnode (@glassnode) April 7, 2025
The relatively small liquidation numbers indicate the market was not highly leveraged prior to the selloff. Long liquidations accounted for approximately 73% of total futures liquidations, which indicates a mildly bullish sentiment prior to the correction.
These numbers pale in comparison to previous market events in February and March, when daily liquidations topped $140 million. The present trend indicates a structured price fall fueled primarily by spot selling and not a wave of forced liquidations due to over-leveraged positions.
Institutional Investors Continue To Enter The Market
There are reports of increased institutional demand despite recent market volatility. Statistics reveal 76 new institutions with over 1,000 BTC have entered the network in the last two months, which is a 4.5% rise in large Bitcoin holders.
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.
