On Friday, April 11, 2025, the cryptocurrency market skilled notable declines as escalating commerce tensions between the US and China impacted investor sentiment. Bitcoin (BTC) fell below the $81,000 mark, while Ethereum (ETH) saw a significant drop of nearly 4%.
As of 11:58 AM IST, Bitcoin was trading at approximately $80,955, reflecting a 1.5% decrease over the past 24 hours. Ethereum’s price stood at around $1,552, marking a 3.8% decline in the same period. The global cryptocurrency market capitalization decreased by 1.09% to $2.58 trillion.
The downturn in the crypto market coincided with renewed trade frictions between the US and China. President Donald Trump’s administration announced a substantial 145% tariff on Chinese imports, leading to swift retaliatory measures from Beijing. These developments prompted investors to seek safer assets, with the Swiss franc reaching a decade high against the US dollar and gold prices hitting new peaks.
Avinash Shekhar, Co-founder & CEO of Pi42, commented on the situation:
“Current crypto market and Bitcoin volatility is a product of the complex ballet of macroeconomic and crypto-native influences. Trump’s tariff reprieve and receding inflation are short-term reliefs, but investor sentiment remains cautious.”
Shekhar also noted significant outflows from spot Bitcoin ETFs, totaling over $772 million.
The CoinSwitch Markets Desk highlighted the impact of the US administration’s tariff decision:
“The market turbulence was primarily driven by the US administration’s decision to impose a 145% tariff on Chinese imports. This triggered concerns over global growth and heightened market volatility.”
Edul Patel, Co-founder and CEO of Mudrex, provided technical insights:
“Bitcoin’s resistance is seen at $83,700, while support is at $75,000.”
Among altcoins, XRP, Tron, Toncoin, Stellar, Polkadot, and Pi Coin experienced declines of up to 4%. Conversely, Solana, Dogecoin, Cardano, Chainlink, and Shiba Inu traded slightly higher.
Bitcoin’s market capitalization decreased to $1.608 trillion, with its dominance rising to 62.39%. Daily trading volume dropped by 41.6% to $44.88 billion. Stablecoin activity constituted 95.93% of total crypto trading, amounting to $98.28 billion, according to CoinMarketCap.
Vikram Subburaj, CEO of Giottus, offered a forward-looking perspective:
“If macro conditions improve, Bitcoin could aim for the $85,000–$87,000 range, where its 200-day SMA and EMA converge. Reclaiming this zone is crucial to confirm bullish momentum, with $88,000 as the next target.”
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