Top Crypto Stories Worldwide (April 7-8, 2025)
The cryptocurrency market faced seismic shifts on April 7 and 8, 2025, as U.S. President Donald Trump’s escalating tariff policies sent shockwaves through global finance. Bitcoin dropped to a 2025 low of $74,000 before stabilizing around $76,000, while altcoins like Ethereum and Solana saw losses up to 17%. Below is a concise roundup of the latest from leading global news outlets, covering only April 7 and 8, with detailed descriptions for AllePay readers.
- Reuters (United States, April 7, 2025): Bitcoin crashed to $74,000 before rebounding to $79,000 as U.S. crypto stocks like Coinbase fell 7%. Trump’s initial tariffs—25% on Canada/Mexico, 10% on China—ignited fears of a trade war, slamming risk assets like cryptocurrencies.
- Reuters (United States, April 8, 2025): Trump upped the ante with a threat of 50% tariffs on China, effective April 9 unless Beijing backs down, pushing Bitcoin below $76,000. Investors scrambled as the White House signaled no pause in the trade offensive.
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Description: Reuters captured the crypto market’s wild ride, linking Bitcoin’s volatility to Trump’s tariff escalation. The April 8 update highlighted a fresh plunge as Trump’s ultimatum to China—drop retaliatory tariffs or face a 50% hike—rattled traders, with crypto caught in the crossfire of a $7 trillion global equity rout. - Bloomberg (United States, April 7, 2025): Bitcoin fell 5.5% in Asian trading amid a tariff-driven $7 trillion stock market crash, stabilizing at $79,000 by mid-day. Analysts warned of persistent “whipsaw” swings as trade tensions loomed.
- Bloomberg (United States, April 8, 2025): Ethereum shed 8% and Bitcoin tested $75,000 as Trump stood firm on tariffs. While the Nasdaq clawed back gains, crypto remained under pressure, reflecting broader risk-off sentiment.
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Description: Bloomberg detailed crypto’s rollercoaster, noting Bitcoin’s partial recovery on April 7 before a renewed slide on April 8. The outlet emphasized how Trump’s unwavering tariff stance—despite pleas from allies—kept crypto markets on edge, with Ethereum’s steeper drop signaling altcoin vulnerability. - The New York Times (United States, April 7, 2025): Bitcoin’s 10% drop since Trump’s tariff reveal undercut its safe-haven narrative under his pro-crypto presidency. Smaller coins like Dogecoin also tanked, hitting retail investors hardest.
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Description: The NYT focused on Bitcoin’s fall from grace, questioning Trump’s earlier “Bitcoin superpower” promises as tariffs erased gains. It highlighted the pain for retail traders, with Dogecoin’s slide reflecting panic among smaller crypto holders. - Investopedia (United States, April 7, 2025): The S&P 500 and Dow closed lower after wild swings, with crypto mirroring the chaos. Goldman Sachs slashed its 2025 GDP forecast to 1.3%, citing Trump’s trade war as a recession risk.
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Description: Investopedia tied crypto’s woes to broader market turmoil, noting how tariff fears drove a risk-off mood. The GDP downgrade underscored economic stakes, with crypto’s decline framed as a symptom of Trump’s trade gamble. - Yahoo Finance (United States, April 8, 2025): Bitcoin hovered at $76,000 as Trump hinted at waiting for China’s response to his tariff ultimatum. Crypto stocks showed mixed results, with MicroStrategy down 5% amid uncertainty.
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Description: Yahoo Finance offered a real-time snapshot, capturing Bitcoin’s fragile hold at $76,000 as Trump played a high-stakes tariff game. The mixed crypto stock performance hinted at divergent investor bets on the outcome.
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