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The storm is hitting crypto. On the night of April 7, 2025, Bitcoin collapsed below the symbolic threshold of $75,000, reaching a record intraday low of $74,637! In the span of 24 hours, the leading cryptocurrency lost over 10%, triggering a shockwave throughout the entire market.
Bitcoin plummets to $74,637
Bitcoin is experiencing a dark day. After a crypto crash yesterday that affected the entire market and caused BTC to drop to $79,000, the crypto queen has sunk even deeper into turmoil by falling below $75,000. This brutal drop marks a turning point for the crypto market, which seemed to be holding steady despite recent geopolitical and financial tensions.
This brutal drop is not just a simple accident: it reflects a generalized economic anxiety, in a context of high volatility in traditional markets, particularly with the catastrophic collapse of the Dow Jones. Since its historical high three months ago, Bitcoin has now lost over 31%! Thus revealing a strong correlation with traditional markets, which proves that BTC is not (yet) the dislocated refuge from major financial centers that many hope for.
BTC at $70,000 by Friday?
This deleterious climate is heralding a tumultuous week ahead. Although BTC has currently rebounded to $76,277, the tension remains palpable, and traders expect further shocks. After a drop of over 10% in just 24 hours, Bitcoin seems fragile and could fall again, particularly as the crypto market continues to face pressures due to global economic uncertainty.
If this downward trend persists and market conditions do not stabilize, we could see BTC drop further and sink deeper. Following the same magnitude of decline, Bitcoin might find itself below $70,000 by Friday. However, it will all depend on the evolution of traditional markets and the risk management by investors.
The BTC is struggling to maintain itself at the $76,000 level, a significant threshold for considering a potential rise. The next 48 hours will be crucial to determine this bullish potential for Bitcoin, or to contemplate a deeper collapse to $70,000. Investors will need to be vigilant.
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The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
