"Red hot coin" today (April 7, 2025) is mainly due to the following reasons:

Capital outflow from Bitcoin ETFs: Large investors are withdrawing capital from ETFs, especially GBTC, creating significant selling pressure.

Negative market sentiment: After a strong rally recently, investors are taking profits, coupled with concerns over new regulatory policies causing many to flee.

Government actions: Countries, including Vietnam and the US, are considering tightening regulations on digital assets, raising concerns about the future of crypto.

Natural market correction: After the recent rapid increase, a correction is normal to "gain momentum" for a new cycle.