Shocking Crypto Market Plunge: Bitcoin and Ethereum Drop Amid Intensifying Global Trade War

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.”

For more insights and updates on Metaverse, DeFi, Blockchain, NFT & Web3, be sure to subscribe to our newsletter. Stay informed on the latest trends and developments in the decentralized world.