Bitcoin Below $80K, Ethereum Under $1,700 Amid Market Crash

April 6, 2025 — The crypto market took a severe hit late Sunday night, as Bitcoin (BTC) crash below $80,000, currently trading near $79,500, and Ethereum (ETH) fell under $1,700, marking its lowest point since August 2023. The sharp downturn wiped billions from the total market cap, now sitting just below $2.5 trillion, and sent shockwaves across the digital asset space.

This sell-off reflects mounting uncertainty in broader financial markets and growing unease among crypto investors.

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What Triggered the Drop?

Multiple overlapping factors have contributed to the market-wide crash of Bitcoin and Ethereum.

Global Trade Tensions:

• New U.S. tariffs set to go into effect on Tuesday have reignited global trade fears.
• Reverse tariffs from China added fuel to the ongoing fire.
• U.S. stock futures have tumbled, while traditional safe-haven assets like gold are gaining.
• Crypto, increasingly tied to macro markets, is seeing risk-off flows.

“The tariff announcement has triggered a flight to safety,” said Avinash Shekhar, CEO of Pi42.

Support Levels Broken:

• Bitcoin has failed to hold key psychological levels, fueling uncertainty.
• Ethereum has sharply underperformed BTC, with the ETH/BTC ratio hitting a 5-year low of 0.02113.

Network Activity and Altcoin Woes

📉 Bitcoin’s gas fees have dropped to a 4-year low, signaling reduced usage.
📉 Ethereum remains congested and under fire from competitors like Solana, who are gaining ground in DeFi.

These indicators reflect shrinking investor activity and diminished network demand.

Is There a Silver Lining?

Not everyone sees doom.

Some investors are calling this a rotation rather than capitulation. Despite the sharp dip:

• Bitcoin held above $79K, even as traditional markets slid 9%.
• This is the lowest weekly momentum since October 2023 pump.

This institutional support points to long-term confidence, though the near-term path remains volatile.

What’s Next?

With investor sentiment hitting recessionary lows, all eyes are on:

• Tuesday’s tariff implementation
• Global equity movements
• Further liquidations or exchange-related fallout

Until then, the market remains on edge — and so does the future of this rally.