As of April 7, 2025, Bitcoin's price has seen a significant decline, dipping to around $78,206.54, reflecting a drop of 3-4% just at the start of the week. This downturn is part of a broader trend affecting various cryptocurrencies, including Ethereum and Dogecoin, which also experienced declines ranging from 1-5% over the past week. This recent slump marks Bitcoin's worst performance since January 2025, falling below the $80,000 threshold for the first time since early March 2025.
According to reports from Coinmarketcaps, Bitcoin's value has been volatile, and as of 10:30 AM on April 7, it was trading at $78,206.54, which is approximately Rp1,339,889,187.86 at an exchange rate of Rp17,130. In comparison, Ethereum's price has plummeted to $1,565.20, down 1-3% in the last 24 hours and a staggering 13% over the past week. Dogecoin has also faced challenges, trading at $0.1466, reflecting a daily decrease of 2.35%.
The decline in cryptocurrency prices has been attributed to global market reactions to recent tariff announcements by the Trump administration. Starting April 5, 2025, the administration implemented a 10% tariff on all countries, with even higher rates on specific nations—34% on China, 20% on the European Union, and 24% on Japan. This policy has created a ripple effect, causing uncertainty in the markets and leading to a sharp decline in the total cryptocurrency market capitalization, which fell over 8% to $2.5 trillion.
On April 6, 2025, as the US stock market futures opened sharply lower, Bitcoin fell over 5% within 24 hours, trading around $77,883. Ethereum suffered even greater losses, dropping over 12% during the same period. The Crypto Fear & Greed Index, which gauges market sentiment, indicated a score of 23 on April 7, categorizing the atmosphere as one of "extreme fear." Charlie Sherry, CFO at BTC Markets in Australia, commented on the situation, stating that the market's liquidity tends to be lower on Sundays, leading to disproportionate impacts from large sell-offs.
In light of these developments, some traders remain optimistic about a potential rebound in Bitcoin's price. Arthur Hayes, co-founder of BitMEX, speculated that despite the current chaos caused by tariff policies, there could be a price surge for Bitcoin in the near future. Meanwhile, the S&P 500 futures contracts have entered "bearish market territory," with the US stock market reportedly losing an average of $400 billion per trading day over the past 32 days.
President Trump has stood firm on his tariff policies, asserting that the US's significant financial deficit with countries like China and the EU can only be resolved through tariffs. He stated, "The only way to heal this problem is with TARIFFS, which have already brought tens of billions of dollars to the US." In a statement made on April 6, Trump emphasized his commitment to these policies, claiming he does not intend to trigger a market sell-off but acknowledged that sometimes tough measures are necessary to address economic issues.
In the midst of this market turmoil, some cryptocurrencies have managed to record gains. For instance, Pi Network (PI) saw a daily increase of 1.52%, and ZCash (ZEC) rose by 0.7%. Eric Chen, CEO of Injective, noted that Bitcoin's market structure has changed significantly following the approval of Bitcoin spot ETFs, leading to increased demand from pension funds and corporate treasuries.
As the financial landscape continues to evolve, experts predict that high volatility will persist until there is clarity regarding the direction of US economic policies. The current environment presents both challenges and opportunities for investors and traders in the cryptocurrency market.
For those looking to venture into Bitcoin investment, it is crucial to choose a trading platform that is officially registered and regulated by BAPPEBTI (Commodity Futures Trading Regulatory Agency). New investors should follow a structured approach to ensure their investments are secure. This includes downloading a registered trading platform from official sources, creating an account, verifying identity, and securing accounts with Two-Factor Authentication (2FA).
In summary, the current state of the cryptocurrency market reflects a complex interplay of global economic policies and investor sentiment. As Bitcoin and other cryptocurrencies navigate these turbulent waters, both seasoned traders and newcomers alike must remain vigilant and informed about market trends and regulatory developments.
