Bitcoin and Ethereum Lead Major Crypto Sell-Off as Global Tensions Fuel Investor Fear
The cryptocurrency market is in freefall today, April 7, with Bitcoin plunging over 8% to hit a year-low of $76,790 (approximately Rs. 65.7 lakh) on global exchanges. This drop comes amid rising geopolitical tensions and escalating tariff wars between the US and other major economies, shaking investor confidence and triggering a broad sell-off across financial markets.
On Indian exchanges, Bitcoin also suffered a sharp 7% decline, bringing its value down to $80,895 (roughly Rs. 69.2 lakh). This marks one of the steepest one-day losses for the world’s largest cryptocurrency in 2025.
Ethereum Suffers Bigger Blow as Altcoins Turn Red
Ethereum (ETH), the second-largest cryptocurrency, fared even worse. ETH fell nearly 14.7% on international platforms, trading at $1,543 (approximately Rs. 1.32 lakh). On Indian exchanges, the price dipped by around 13%, settling at $1,630 (roughly Rs. 1.40 lakh).
According to the CoinDCX research team, the ongoing US trade tariffs are creating a ripple effect that extends beyond traditional markets into crypto. “The market is reacting to the macroeconomic pressure, and investors are retreating due to uncertainty. Despite this, long-term holders are advised to stay calm, as markets often recover, albeit on unpredictable timelines,” the team told Gadgets 360.
Crypto Fear and Greed Index Nears ‘Extreme Fear’
Sentiment across the crypto sector is bleak, with the Fear and Greed Index edging dangerously close to the “Extreme Fear” zone. This has further exacerbated the downtrend, as retail and institutional investors alike pull back from high-risk assets.
Edul Patel, CEO of Mudrex, highlighted a potential silver lining. “We could see a relief rally if US federal agencies reveal significant crypto holdings later today. That confirmation might restore short-term confidence.”
Altcoins in the Red as Market Cap Plummets
A wide range of altcoins followed Bitcoin and Ethereum into the red. Major tokens like Ripple (XRP), Solana (SOL), Binance Coin (BNB), Cardano (ADA), Dogecoin (DOGE), and Chainlink (LINK) all posted double-digit losses. Others like Tron (TRX), Uniswap (UNI), Cronos (CRO), EOS, and Bitcoin SV (BSV) also saw significant declines.
Meanwhile, stablecoins like Tether (USDT) and Binance USD (BUSD) remained relatively stable, acting as safe havens during the market downturn.
The total crypto market cap fell by 8.10% over the last 24 hours, sinking to $2.45 trillion (approximately Rs. 2,09,83,788 crore), according to CoinMarketCap.
Financial Anxiety Sparks ‘Black Monday’ Fears
Avinash Shekhar, Co-Founder of Pi42, warned of the growing correlation between traditional finance and digital assets. “As Wall Street futures dip, fears of a ‘Black Monday’ repeat are rising. This is adding to the persistent stress across markets and challenging the stability of both Bitcoin and the broader crypto ecosystem.”
Investor Advisory: High Volatility Ahead
Crypto analysts and financial experts are advising investors to remain cautious and avoid panic-selling, as short-term volatility is expected to persist. Long-term strategies and informed decision-making remain crucial in navigating the turbulent crypto landscape.
