$890M Crypto Liquidated in 24H: Ethereum Price Drops to $1,450 as Asian Stock Markets Crash

A sharp Ethereum market decline and sudden crypto volatility have plunged digital assets this week, triggered by surging trade tensions and investor fear. Ethereum fell nearly 12% in 24 hours, with the ETH price suffering its worst one-day loss in months. 

Alongside Ethereum, Bitcoin and other major coins followed. Asian stock markets opened to similar sharp declines. Analysts say global markets may be entering another phase of rapid selling off.

Global Sell-Off Sinks Ethereum and Stocks

On April 7, Ethereum plunged to $1,450, marking an 20% drop, and it is the lowest since late 2023. The Ethereum price drop was mirrored by Bitcoin, which fell 10% to around $74,700. The broader GMCI 30 index, tracking top crypto tokens, sank 8.6%, adding to losses.

Analysts attribute this pullback to weekend uncertainty that led into Monday’s Asia session. Jeff Mei of BTSE explained that “crypto often front-runs traditional markets” and that this week’s movement is consistent with a trend where digital assets act as early risk indicators. The ETH price correction shows how reactive the market has become amid shifting policy and political landscapes.

Ethereum Tumbles Amid Asia Market Turmoil

In tandem with the Ethereum market decline, Asian stocks plunged at the open. Japan’s Nikkei 225 tumbled 8% before circuit breakers kicked in. South Korea’s Kospi and China’s Shanghai Composite also slid 4.6% and 5.8%, respectively. Taiwan’s market, reopening after a break, saw over 1,000 stocks hit limit-down.

Peter Chung, head of research at Presto, explained that risk sentiment had flipped sharply due to U.S. tariff escalation. He said, ‘Sell Now, Think Later’  framework highlights how traders are pulling liquidity even from high-potential tokens like Ethereum. The Ethereum price drop is part of an extensive move away from risky assets. 

According to the market, nearly $890.9 million in crypto positions were liquidated in 24 hours. Among them, $758 million from longs and $133 million from shorts. These forced exits have contributed to record crypto volatility, with many altcoins seeing double-digit declines. Even blue-chip coins haven’t been spared, emphasizing the volatility of the current market setup.

Global Policy May Drive Crypto Rebound

According to Chung, recovery will depend on three key factors: how the global community reacts, whether the Trump administration can present a clear long-term strategy, and what actions the Federal Reserve is expected to take to stabilize the current turmoil. “The Growth Scare 2.0 is in full swing, with markets now pricing in over 100 bp rate cuts this year,” Chung said. 

Nick Ruck from LVRG Research emphasized the pressure facing crypto. He warned of potential overselling of digital assets due to panic sentiment and algorithmic trades. “This could lead to an overselling of digital assets, which take significant influence from ever-changing sentiment and their own ecosystem economics, such as tokenomics and bitcoin mining,” Ruck said.

Final Thoughts: Will It Recover or Crash Further in Q2 2025?

The ongoing Ethereum market decline is an indication of general market turmoil driven by policy uncertainty and loss of investor confidence. With the ETH price in decline and crypto volatility at multi-month highs, traders and institutions are reevaluating their strategies. Whether this is a financial panic or the beginning of a prolonged downturn, the next few days could define the trajectory of digital assets in Q2 2025.