Crypto Market Takes Hit: China, Nasdaq, and Other Major Indices Plummet

The cryptocurrency market experienced a significant downturn on April 7, 2025, following comments from US President Trump that reignited concerns about rising tariffs. This reversal came just weeks after Bitcoin surged in response to Trump’s new strategic reserve plan. The market witnessed a dramatic drop of over half a trillion dollars in value within the last day, triggering widespread liquidations. Notably, Bitcoin alone suffered losses exceeding $250 million in long positions according to CoinGlass data.