Lagos, Nigeria — Major crypto markets don face serious crash, as Bitcoin price don drop sharply to under $77,000 on Monday, April 7, 2025. The major drop follow the recent global tariff policy by former President Donald Trump, wey don affect stock markets overnight.
The price of Bitcoin don decline more than 10% from its peak of nearly $90,000 last week, as Ethereum, XRP, Solana, Dogecoin, and other top cryptocurrencies dey suffer larger losses. In total, the crypto market don lose $1.3 trillion since January.
Traders dey scramble to assess whether dis sudden price fall fit result in bigger market crash. Charlie Sherry, head of finance and crypto analyst at BTC Markets, talk say, “Bitcoin don lose that important $79,000 to $80,000 support level wey dem hold for the past month. Dis level be significant because e mark the bottom of the range after the all-time high drop. The next major support level dey around $72,000, wey be the pre-election high.”
Over the last 24 hours, Ethereum, XRP, Solana, and Dogecoin don all drop by about 15%. Geoffrey Kendrick, wey be head of crypto for Standard Chartered Bank, talk say, “Sometimes crypto movements on Sunday fit give us insight on how stocks go behave on Monday. If na so, Monday fit scatter everywhere.”
For traders wey dey look for signs of recovery, Sherry mention say, “Two key factors wey fit help Bitcoin regain its former price be a shift in Trump’s position or emergency intervention from the Federal Reserve.” Last week, traders begin to speculate say the Fed fit cut interest rates to avoid a recession in the U.S.
As market dey unfold, the unpredictability dey make many investors rethink their strategies and consider how to navigate the current landscape. Traders go need make dem keep eye on federal policy changes and the overall global economic situation as dis could greatly impact crypto valuations.
