The cryptocurrency market decreased on April 7, as the total market value decreased by 10 % at the height of the sale to $ 2.41 trillion. Trading volumes through the total encryption market increased by 293 % over the past 24 hours to 165.05 billion dollars, which enhances the severity of the sale side activity.
The upper encrypted currencies and their performance 24 hours. Source: coin360
Although the encryption market is known for its high fluctuation, many unique factors contributed to this recent decline, including US President Trump’s cruel commitment to recently announced definitions and its sharp sale in the stock market and the encryption market, which led to large references historically.
Bitcoin ends for a chapter
The encryption market drowned during the first part of the Asian trading session on April 7, and the American definitions of investors fell in risk mode. President Trump’s administration struck all countries with a tariff of 10 % from April 5. Trump also confirmed that there will be no deal with China, which increases the feelings of black black.
In response, Bitcoin (BTC) fell to up to $ 74434 on Bistamp for the first time since November 6, 2024. ETHER (ETH) extended three -day losses, as it decreased to 1400 dollars on April 7, which represents 16 % losses over the past 24 hours. XRP (XRP), Solana (SOL) and BNB BNB have witnessed significant losses, a decrease of 15.5 %, 15.3 % and 8 %, respectively.
Upper cryptocurrency performance. Source: CoinmarketCap
Fears of inflation renewal, as definitions are expected to lead to an “economic nuclear war”, according to Ender Funder. Bill Akman. The risk of higher inflation than expected leads to market participants to enhance their appreciation for interest rate discounts in the field of federal reserves in the near future. The probability of a 32 % basis point rate is 42 % compared to 14 % per week.
The possibility of the target rate for the Federal Reserve meeting on June 18. source: CME
More than 1.4 billion dollars of encryption accompanying the collapse of the market
More than $ 1.4 billion has been filtered on encryption sites during the past 24 hours. Nearly $ 1.22 billion of these positions are long. This was one of the largest filtering events in the history of Web3, which reflects events like Covid-19 Market Crash and FTX Care.
The market encryption is filtering the heat map. Source: Coinglass
More than 460,996 traders were filtered last day, with the largest liquidation of OKX, which includes BTC/USD swap of $ 7 million. This scale of references not only exacerbates low prices, but also instills fear among other participants in the market, which leads to more pressure.
More than 350 billion dollars eliminated the encryption market
The total market value of all encrypted currencies (total) fell by more than 13 % of a height of $ 2.67 trillion on April 5 to the lowest level of the day in the day 2.31 trillion dollars on April 7, according to Cointelegraph Markets Pro and Tradingvief.
This represents a loss of more than $ 350 billion over three days. Although the total has since recovered to $ 2.4 trillion at the time of writing this report, it decreased by 35 % of the highest level ever at $ 3.73 reached on December 17, 2023.
As I mentioned earlier by Cointelegraph, the US -led trade war can increase investor feeling risky, leading to low encryption prices.
This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.
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