#btc #solana #bnb #Dogecoin‬⁩ #PEPE‏

As of April 7, 2025, the cryptocurrency market is experiencing notable volatility, primarily influenced by escalating trade tensions between the United States and China. 

Market Decline Amid Tariff Concerns

Bitcoin has fallen below the $80,000 threshold, trading around $78,892.92, marking a 5% decrease. This downturn is attributed to investor anxiety over retaliatory tariffs imposed by China following U.S. measures, raising fears of a potential global recession. Other major cryptocurrencies, including XRP, Solana (SOL), and Dogecoin (DOGE), have also seen significant declines of approximately 20%.   

Liquidation and Technical Indicators

The market has witnessed approximately $250 million in long liquidations over the past 24 hours, the highest since March 7, as traders exit bullish positions amid declining prices. Technical indicators reveal bearish momentum, highlighted by a “death cross”—when the 50-day moving average crosses below the 200-day moving average—suggesting further declines are possible. Critical support levels to monitor include $74,000, $65,000, and $57,000.