On April 7, 2025, Bitcoin briefly fell below $75,000, down 30% from its peak in November 2024; Ethereum dropped to $1,420, hitting a new low since October 2023. Other major cryptocurrencies (such as SOL, XRP, and Dogecoin) generally fell more than 14%.

In the past 24 hours, a total of 446,200 people globally were liquidated, with a total amount reaching $1.38 billion, including $328 million in Bitcoin and $293 million in Ethereum.

Triggering factors: The 'reciprocal tariff' policy signed by U.S. President Trump on April 2, which imposes a 45% tariff on goods from China, triggered a sell-off of risk assets globally, leading to a correlated drop in the cryptocurrency market. Additionally, concerns over the Federal Reserve's monetary policy and inflation pressures have heightened volatility.

Market sentiment is extremely fearful: The Fear and Greed Index has dropped to 23, with market sentiment shifting from 'fear' to 'extreme fear'.

The Shanghai Composite Index fell 7.34%, the Hang Seng Index dropped 13.22%, the Nikkei 225 Index decreased by 7.83%, and the Korean Composite Index fell by 5.57%. The European Stoxx 50 Index opened down 6.2%, and the German DAX Index fell by 7.1%.

Summary: The global financial market is generally experiencing turmoil, with significant declines in both the cryptocurrency market and the Web3 sector. Bitcoin and Ethereum prices have plummeted, and market panic has intensified. Meanwhile, the tariff policy standoff between the United States and China has further exacerbated market uncertainty. Despite this, innovation activities in the Web3 field continue to progress, demonstrating the industry's confidence in future development.