Here’s a quick recap of the crypto landscape for Monday (April 7) as of 9:00 a.m. UTC.
Bitcoin and Ethereum price update
At the time of this writing, Bitcoin (BTC) has continued its skid to drop to US$76,178.35, down 4.6 percent in 24 hours. The day’s range has brought a low of US$74,604.47 and a high of US$82,669.72.
Bitcoin performance, April 7, 2025.
Chart via TradingView
Bitcoin’s downturn is largely attributed to escalating global trade tensions following President Donald Trump’s announcement of new tariffs.The resulting market uncertainty has led to a broader sell-off in risk assets, including cryptocurrencies.
Additionally, China’s retaliatory tariffs have intensified fears of a trade war, further shaking investor sentiment.
Ethereum (ETH) is priced at US$1,493.12, a 12.7 percent free fall over the past 24 hours. The cryptocurrency reached an intraday low of US$1,431.73 and a high of US$1,764.84.
Altcoin price update
- Solana (SOL) is currently valued at US$100.50, down 8.7 percent over the past 24 hours. SOL experienced a low of US$96.70 and a high of US$115.25 on Monday.
- XRP is trading at US$1.76, reflecting a 10.0 percent decrease over the past 24 hours. The cryptocurrency recorded an intraday low of US$1.65 and a high of US$2.08.
- Sui (SUI) is priced at US$1.82, showing a 5.8 percent decrease over the past 24 hours. It achieved a daily low of US$1.75 and a high of US$2.10.
- Cardano (ADA) is trading at US$0.5445, reflecting a 8.7 percent decrease over the past 24 hours. Its lowest price on Monday was US$0.5157, with a high of US$0.6279.
Crypto news to know
Bitcoin slides below US$75,000 as tariff chaos spooks markets
Bitcoin dropped over 5 percent on Monday (April 7) morning, briefly dipping below US$75,000 for the first time since Donald Trump’s re-election in November, as sweeping US tariffs and China’s retaliation triggered a market-wide selloff.
Ether plummeted over 10 percent to levels not seen since March 2023, while altcoins like XRP, Solana, and Cardano also posted heavy losses.
The total crypto market cap fell by 11 percent to US$2.5 trillion, wiping out nearly all gains made since Trump’s victory.
Traders had hoped a crypto-friendly administration would usher in tailwinds, but rising global tensions have proved overwhelming.
Analysts say the carnage could continue, with options markets flashing signs of sustained bearish pressure and over US$1.2 billion in long liquidations recorded in just 24 hours.
Strategy to log US$5.9B unrealized loss under new Bitcoin accounting rule
Michael Saylor’s Strategy (NASDAQ:MSTER) (formerly MicroStrategy) announced it will register an eye-watering US$5.9 billion unrealized loss in Q1 after adopting fair-value accounting for its Bitcoin reserves—a policy shift that reflects BTC’s steep price pullback this year.
The loss comes after a fresh buying spree in early 2025, which left the firm with roughly US$1 billion in paper losses on recent acquisitions alone.
Yet paradoxically, the company will also log a US$13 billion boost to retained earnings due to the new accounting standards, highlighting the volatile nature of being Wall Street’s leading BTC proxy.
Strategy’s stock tumbled as much as 14 percent Monday, raising new questions about whether Saylor’s “buy-and-hold forever” ethos can withstand institutional scrutiny in a more volatile macro climate.
Hong Kong greenlights staking for licensed crypto exchanges under strict new rules
In a major step toward institutionalizing crypto, Hong Kong’s Securities and Futures Commission (SFC) unveiled formal guidelines allowing licensed exchanges and funds to offer staking services, provided strict custodial and disclosure requirements are met.
Staking, crucial for securing Proof-of-Stake (PoS) networks and generating passive returns, had previously been a regulatory gray area in the city.
Under the new rules, exchanges must retain direct control of client assets, explicitly barring third-party delegation, and provide full transparency on risks, fees, and lock-up periods.
The move reflects Hong Kong’s ambition to rival other financial hubs and attract global digital asset firms amid the regulatory vacuum in jurisdictions like the US, where staking remains under scrutiny from the SEC.
South Korea’s US$890B pension fund to adopt blockchain for fund operations and oversight
South Korea’s National Pension Service (NPS), one of the world’s largest public pension funds, is moving to incorporate blockchain technology into its operational infrastructure, according to a recent Seoul Economic Daily report.
With over US$800 billion in assets under management, the NPS aims to use blockchain to improve tracking of transactions, client withdrawals, and investment flows, especially for foreign clients.
Though the fund is not directly investing in crypto, it has taken equity positions in firms like Coinbase and Strategy, signaling long-term confidence in the industry’s underlying technology.
The NPS initiative aligns with the nation’s growing retail enthusiasm for crypto—South Korea now boasts more than 16 million crypto investors, a surge that has accelerated since Trump’s 2024 electoral win sparked hopes of a more favorable global crypto environment.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.