Bitcoin (BTC) Drops Below $75000, Ethereum (ETH) Plunges 22% as Global Markets Reel From Trump Tariffs

Global financial markets are reeling after U.S. President Donald Trump’s aggressive tariff policies triggered a massive sell-off across both equities and cryptocurrencies.

Global financial markets are reeling after U.S. President Donald Trump’s aggressive tariff policies triggered a massive sell-off across both equities and cryptocurrencies.

As the threat of a global trade war looms large, Bitcoin (BTC) dropped below $75,000 for the first time in weeks, while major altcoins like XRP and Solana (SOL) plummeted over 20%, signaling widespread risk aversion.

Bitcoin Drops 10% as Altcoins Take a Beating

Bitcoin declined 10% in 24 hours to $74,600, while Ethereum (ETH) posted a staggering 22% drop to $1,514.40. Bitcoin dominance rose to 63% — the highest since early 2021 — as altcoins suffered disproportionately. The CoinDesk 20 index, which tracks top crypto assets, lost 12% in a single day.

XRP tumbled to $1.70, breaching its 200-day moving average. A confirmed head-and-shoulders breakdown suggests a further decline to $1.07.

SOL fell below the $100 psychological mark and its 50-day SMA, representing a 64% drop from its all-time high.

DOGE slipped 20% to $0.13, falling through its 18-cent support as a death cross formed on the 4-hour chart.

Hong Kong's Hang Seng: -13.22%, worst performance since the 1997 Asian Financial Crisis

Taiwan and Japan Stocks: -10%

FTSE 100: -4.7%

DAX: -6.32%

CAC 40: -5%

S&P 500: down 5.97% on Friday, pre-market trading already 5% lower — confirming bear market status (-20% from peak)

U.S. Tariffs and Global Fallout

Trump’s April 2 tariff announcement triggered a $5.4 trillion stock market wipeout over two trading days. China responded with a 34% retaliatory tariff effective April 9. Other countries like Argentina, Taiwan, and India are seeking deals to avoid further escalation.

Traders Flee to Safe Havens

U.S. 10-year Treasury Yield: down to 4%, with the note up 8% YTD

iShares 20+ Year Treasury Bond ETF (TLT): +6% YTD

Gold: $3,037.6/oz (+0.85%)

Silver: $29.95/oz (+2.85%)

Derivatives and ETF Data

BTC Futures Liquidations: $58.8M (75% from longs)

ETH Futures Open Interest: 2.24 million ETH

BTC Perpetual Funding Rate: 0.0059%

Spot BTC ETF Net Flow: -$64.9 million (cumulative: $36.16B, 1.12M BTC held)

Spot ETH ETF Net Flow: +$2.1 million (cumulative: $2.37B, 3.38M ETH held)

Flash Loan Activity Surges

Aave flash loan usage jumped to 307 transactions — the highest since August 2024 — signaling growing DeFi arbitrage activity amid volatility.

Economic Outlook

Goldman Sachs: Cuts Q4 U.S. GDP forecast to 0.5%, raises recession odds to 45%, sees 130bps Fed rate cuts starting June

VIX (Volatility Index): hits 60 pre-market — highest since August 2024

Crypto Equities in Freefall

Coinbase (COIN): -7.91% pre-market to $147.85

MicroStrategy (MSTR): -8.56% pre-market to $268.48

Galaxy Digital (GLXY): -10.28%

Riot Platforms (RIOT): -6.02%

CleanSpark (CLSK): -8.61%

Key Macro and Crypto Events to Watch

April 9: U.S. & China tariffs take effect

April 10: SEC roundtable on crypto regulation

April 11: Terraform Labs’ Do Kwon court hearing

April 12–16: Token unlocks from APT, AXS, STRK, ARB

As volatility continues to surge, investors are advised to monitor safe haven flows, macroeconomic data, and key political decisions that may shape the markets in the coming weeks, according to CoinDesk.