{"id":22766,"date":"2025-04-07T09:56:18","date_gmt":"2025-04-07T06:56:18","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-tumbles-below-75000\/"},"modified":"2025-04-07T09:56:18","modified_gmt":"2025-04-07T06:56:18","slug":"bitcoin-tumbles-below-75000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-tumbles-below-75000\/","title":{"rendered":"Bitcoin tumbles below $75,000"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>Bitcoin slid roughly 10%, dropping below $75,000.<\/li>\n<li>Equities opened the week lower amid expectations of US trade tariffs taking effect.<\/li>\n<li>Correlation with stocks will be a key driver of bitcoin\u2019s next moves.<\/li>\n<\/ul>\n<\/div>\n<p>By the evening of April 6, bitcoin turned lower. At press time it traded around ~$74,950.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"617\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2025-04-07_09-45-05-1024x617.png\" alt=\"BTCUSD_2025-04-07_09-45-05\" class=\"wp-image-255916\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2025-04-07_09-45-05-1024x617.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2025-04-07_09-45-05-300x181.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2025-04-07_09-45-05-768x463.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2025-04-07_09-45-05.png 1327w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">15-minute BTC\/USD chart on Binance. Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Over 24 hours, the \u201cdigital gold\u201d fell nearly 10%. Most top-10 altcoins dropped more sharply. XRP lost about 21%, Dogecoin roughly 19%. Ethereum failed to hold $1,500, falling by ~18%.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"592\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-30-1024x592.jpg\" alt=\"Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-30\" class=\"wp-image-255917\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-30-1024x592.jpg 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-30-300x173.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-30-768x444.jpg 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Cryptocurrency-Prices-Charts-and-Crypto-Market-Cap-CoinGecko-Google-Chrome-30.jpg 1145w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>Total crypto market capitalisation fell by ~12.5% to $2.46 trillion. Bitcoin\u2019s dominance topped 60%.<\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">April 7, 2025 | 17:55<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>Bitcoin bounced back toward $80,000. The likely catalyst was <a href=\"https:\/\/finance.yahoo.com\/news\/live\/trump-tariffs-live-updates-stocks-jittery-as-90-day-tariff-pause-speculation-191201988.html\">rumours<\/a> that the US president would delay \u201creciprocal tariffs\u201d against major trading partners by 90 days.\u00a0\u00a0<\/p>\n<p>But users could not find direct confirmation of this in remarks by Kevin Hassett, a presidential adviser. Bitcoin pulled back to ~$79,000.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"619\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2025-04-07_17-46-02-1024x619.png\" alt=\"BTCUSD_2025-04-07_17-46-02\" class=\"wp-image-256019\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2025-04-07_17-46-02-1024x619.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2025-04-07_17-46-02-300x181.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2025-04-07_17-46-02-768x464.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2025-04-07_17-46-02.png 1327w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">15-minute BTC\/USD chart on Binance. Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>.<\/figcaption><\/figure>\n<\/div>\n<h2 class=\"wp-block-heading\">Stocks slid as the week of Trump\u2019s \u201creciprocal tariffs\u201d began<\/h2>\n<p>The crypto sell-off followed Sunday\u2019s open in futures on the main US equity indices. S&amp;P 500 futures fell 4.6%, the Nasdaq 100 5.5%.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Pre-market-Stock-Trading-CNN-Google-Chrome.webp\" alt=\"Pre-market-Stock-Trading-CNN-Google-Chrome\" class=\"wp-image-255952\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/edition.cnn.com\/markets\/premarkets\">CNN Business<\/a>.<\/figcaption><\/figure>\n<p>Losses in traditional assets intensified as Asian sessions opened. At press time the Nikkei was <a href=\"https:\/\/finance.yahoo.com\/quote\/%5EN225\/\">down 7.8%<\/a>, South Korea\u2019s KOSPI <a href=\"https:\/\/finance.yahoo.com\/quote\/%5EKS11\/\">5.6%<\/a>.<\/p>\n<p>According to media outlet The Kobeissi Letter, the US stock market has been falling for 32 straight days, shedding on average $400bn per trading session.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">The free fall continues:<\/p>\n<p>Today&#8217;s drop in US stock market futures puts S&#038;P 500 futures down -22% and in bear market territory.<\/p>\n<p>The US stock market has now erased an average of $400 billion PER TRADING DAY for 32-straight days.<\/p>\n<p>Is it time to BUY stocks yet?<\/p>\n<p>(a thread) <a href=\"https:\/\/t.co\/MMtYgQXhh2\">pic.twitter.com\/MMtYgQXhh2<\/a><\/p>\n<p>\u2014 The Kobeissi Letter (@KobeissiLetter) <a href=\"https:\/\/twitter.com\/KobeissiLetter\/status\/1909031822677115320?ref_src=twsrc%5Etfw\">April 6, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On April 2 the US president, Donald Trump, <a href=\"https:\/\/u1f987.com\/en\/news\/trump-declares-liberation-day-with-new-tariffs\">announced<\/a> new tariffs for trading partners. A 10% minimum applies to all countries from April 5. For a number of partners, \u201creciprocal tariffs\u201d roughly half the level those countries impose on American goods will take effect from April 9.<\/p>\n<p>Reciprocal rates are set at 54% for China, 20% for the EU, 46% for Vietnam, 32% for Taiwan, 24% for Japan, 26% for India and 25% for South Korea.<\/p>\n<p>Bitcoin dipped below $85,000. In the following days, however, it held above $80,000, showing better performance than equities.<\/p>\n<p>As the start date for \u201creciprocal tariffs\u201d approached, expectations grew that Mr Trump might delay them to let partners make counteroffers to \u201ccut a deal\u201d.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">One would have to imagine that President <a href=\"https:\/\/twitter.com\/realDonaldTrump?ref_src=twsrc%5Etfw\">@realDonaldTrump<\/a>\u2019s phone has been ringing off the hook. The practical reality is that there is insufficient time for him to make deals before the tariffs are scheduled to take effect. <\/p>\n<p>I would therefore not be surprised to wake up Monday\u2026<\/p>\n<p>\u2014 Bill Ackman (@BillAckman) <a href=\"https:\/\/twitter.com\/BillAckman\/status\/1908625866680393847?ref_src=twsrc%5Etfw\">April 5, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cOne thing is certain. Monday will be one of the most interesting days in our country\u2019s economic history,\u201d wrote billionaire investor Bill Ackman.<\/p>\n<\/blockquote>\n<p>In a statement on April 6, the US president <a href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/114293581018893404\">called<\/a> tariffs \u201cthe only way to fix\u201d the trade deficit with China, the EU and others. He also told reporters he had not intended to trigger a market sell-off, but \u201csometimes you have to take medicine to fix something\u201d.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">REPORTER: &#8220;Is there pain in the market at some point you&#8217;re unwilling to tolerate?&#8221;<a href=\"https:\/\/twitter.com\/POTUS?ref_src=twsrc%5Etfw\">@POTUS<\/a>: &#8220;I think your question is so stupid. I don&#8217;t want anything to go down, but sometimes you have to take medicine to fix something \u2014 and we have been treated so badly by other countries.&#8221; <a href=\"https:\/\/t.co\/09QBmfqzYF\">pic.twitter.com\/09QBmfqzYF<\/a><\/p>\n<p>\u2014 Rapid Response 47 (@RapidResponse47) <a href=\"https:\/\/twitter.com\/RapidResponse47\/status\/1909031739889950837?ref_src=twsrc%5Etfw\">April 6, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2 class=\"wp-block-heading\">Will bitcoin track US stocks or go its own way?<\/h2>\n<p>After April 2, BitMEX co-founder Arthur Hayes argued that bitcoin needed to <a href=\"https:\/\/u1f987.com\/en\/news\/arthur-hayes-identifies-a-critical-support-level-for-bitcoin\">hold above $76,500<\/a> until US tax day on April 15. In his view, that would clear tariff-driven uncertainty and volatility.\u00a0<\/p>\n<p>After bitcoin slipped toward $75,100, the expert <a href=\"https:\/\/x.com\/CryptoHayes\/status\/1909145445571744114\">commented<\/a> on his forecast \u2014 \u201coff the mark\u201d.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Volatility is back baby. I fucking love this shit. Going to be a fun week.<\/p>\n<p>\u2014 Arthur Hayes (@CryptoHayes) <a href=\"https:\/\/twitter.com\/CryptoHayes\/status\/1908985560670331088?ref_src=twsrc%5Etfw\">April 6, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cVolatility is back [\u2026]. It will be a fun week,\u201d he stated.<\/p>\n<\/blockquote>\n<p>Earlier, analyst and MN Trading founder Micha\u00ebl van de Poppe also <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoins-path-analysts-predict-a-dip-to-76600-before-rebound\">allowed for<\/a> a retest of $76,600 before a move higher. Some pointed to $80,000\u201382,000 as a local bottom.<\/p>\n<p>However, based on on-chain metrics, Glassnode <a href=\"https:\/\/u1f987.com\/en\/news\/glassnode-questions-bitcoins-reversal-after-stabilizing-above-80000\">doubted bitcoin\u2019s ability to stabilise<\/a> above $80,000. Analysts saw no signs in indicators of a sustained uptrend resuming.\u00a0\u00a0\u00a0<\/p>\n<p>In March, CryptoQuant CEO Ki Young Ju suggested the <a href=\"https:\/\/u1f987.com\/en\/news\/cryptoquant-ceo-declares-end-of-bitcoin-bull-market\">end of bitcoin\u2019s bull market<\/a>. Over the next six to 12 months, prices would fall or move sideways, he said.\u00a0\u00a0\u00a0\u00a0<\/p>\n<p>He reaffirmed the call using bitcoin\u2019s realised capitalisation chart. The cryptocurrency has entered a bear cycle, and even if selling pressure eases, any reversal would take at least six months.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> bull cycle is over \u2014 here\u2019s why.<\/p>\n<p>There\u2019s a concept in on-chain data called Realized Cap. It works like this: when BTC enters a blockchain wallet, it&#8217;s considered a &#8220;buy,&#8221; and when it leaves, it&#8217;s treated as a &#8220;sell.&#8221; Using this idea, we can estimate an average cost\u2026 <a href=\"https:\/\/t.co\/xDHRin8N1K\">pic.twitter.com\/xDHRin8N1K<\/a><\/p>\n<p>\u2014 Ki Young Ju (@ki_young_ju) <a href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1908537068420304974?ref_src=twsrc%5Etfw\">April 5, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cShort-term upside looks unlikely,\u201d the CryptoQuant head concluded.\u00a0<\/p>\n<\/blockquote>\n<p>The crypto Fear and Greed Index, after edging toward neutral, plunged to 23, signalling extreme investor fear.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Crypto-Fear-Greed-Index-Bitcoin-Sentiment-Alternative.me-Google-Chrome-6.webp\" alt=\"Crypto-Fear-Greed-Index-Bitcoin-Sentiment-Alternative.me-Google-Chrome-6\" class=\"wp-image-255954\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">Alternative<\/a>.<\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAgainst a backdrop of mounting caution about the pace and scale of the April 2 tariff rollout, risk assets, including bitcoin, were seized by a \u2018sell now, think later\u2019 mindset,\u201d said Peter Chang, head of research at <a href=\"https:\/\/www.theblock.co\/post\/349765\/sell-now-think-later-stampede-sends-bitcoin-ether-tumbling-alongside-asian-stocks-analyst-says\">The Block<\/a>\u2019s Presto Research.<\/p>\n<\/blockquote>\n<p>In his view, the path ahead hinges on three main factors:<\/p>\n<ul class=\"wp-block-list\">\n<li>how other countries respond to the trade tariffs;<\/li>\n<li>whether the Trump administration has and executes a coherent long-term plan;<\/li>\n<li>decisions by the US Federal Reserve.<\/li>\n<\/ul>\n<p>LVRG research director Nick Ruck noted that, given America\u2019s hardline tariff policy, <span data-descr=\"traditional finance\" class=\"old_tooltip\">TradFi<\/span> companies are navigating \u201cchoppy waters\u201d, trying to balance expectations of a prolonged trade war with bitcoin\u2019s volatility.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis could lead to overselling of digital assets, which are heavily influenced by ever-changing sentiment and the economics of their own ecosystem,\u201d he said.<\/p>\n<\/blockquote>\n<p>Santiment noted that social media are awash with mentions of crypto \u201cdecoupling\u201d from stock markets. Late last week, digital assets reacted mildly to China\u2019s tariff response, which sent major indices such as the S&amp;P 500 lower.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">?\ufe0f Social media has been buzzing with mentions of crypto&#8217;s &#8220;decoupling&#8221; from stock markets, according to data from X, Reddit, Telegram, 4Chan, Farcaster, and BitcoinTalk. Following the S&#038;P 500&#8217;s -10.5% combined losses on Thursday and Friday alone, traders are optimistic that\u2026 <a href=\"https:\/\/t.co\/MH2I3fi7F4\">pic.twitter.com\/MH2I3fi7F4<\/a><\/p>\n<p>\u2014 Santiment (@santimentfeed) <a href=\"https:\/\/twitter.com\/santimentfeed\/status\/1908643249830682707?ref_src=twsrc%5Etfw\">April 5, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cIf crypto markets really are becoming less and less dependent on stock markets, that would be an encouraging sign. Historically, most of the biggest bull cycles in digital currencies have occurred when the correlation between the two sectors was zero (neither negative nor positive),\u201d the platform\u2019s analysts said.<\/p>\n<\/blockquote>\n<p>Nansen <a href=\"https:\/\/u1f987.com\/en\/news\/nansen-predicts-crypto-market-bottom-by-june\">reckons<\/a> the crypto market could reach a local bottom by June, with subsequent moves shaped by the outcome of US tariff talks with key trading partners.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin slid roughly 10%, dropping below $75,000. Equities opened the week lower amid expectations of US trade tariffs taking effect. Correlation with stocks will be a key driver of bitcoin\u2019s next moves. By the evening of April 6, bitcoin turned lower. At press time it traded around ~$74,950. 15-minute BTC\/USD chart on Binance. Source: TradingView. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22765,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1146,1150],"class_list":["post-22766","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-cryptocurrency-market-forecasts","tag-news-plus"],"aioseo_notices":[],"amp_enabled":true,"views":"39","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/22766","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=22766"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/22766\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/22765"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=22766"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=22766"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=22766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}