Crypto markets experienced a significant downturn on April 7, 2025, largely influenced by President Trump’s tariff announcements. Major global stock indexes suffered, with Hong Kong stocks dropping 14%, the most severe decline since the Asian Financial Crisis of 1997. Bitcoin (BTC) fell 10%, dipping below $75,000, while ether (ETH) plummeted 22%. XRP and SOL also fell over 20%. The environment created fear across financial markets, as the S&P 500 entered bear market territory. Concurrently, China’s stock markets fell 7% amid talks of tariff responses. The volatility is expected to persist as countries negotiate concessions against tariffs. Upcoming key events include the Nexus upgrade for Syscoin and discussions in the U.S. House Financial Services Committee regarding digital assets on April 9. Meanwhile, derivatives positioning indicates increased bearish sentiment among traders with significant liquidations in Bitcoin futures. Overall, the market appears cautious as economic conditions worsen globally.

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