Crypto Bloody Monday: Bitcoin, ETH, XRP Prices Crash — Is This the “Ultimate Pain Day” Gasparino Warned About?

    Discover how Bloody Monday shook Bitcoin below $75K. Explore market panic & potential fallout. Will this crash deepen?

    News Room

    Author by

    News Room

    Updated Apr 07, 2025 1:34 PM GMT+0
    Crypto Bloody Monday: Bitcoin, ETH, XRP Prices Crash — Is This the “Ultimate Pain Day” Gasparino Warned About?

    Today Bitcoin price experienced a significant decline, falling below $75,000 while traders anticipate Bloody Monday. After staying near $83,000 for most of the previous week, BTC price dropped over the weekend, raising concern. Given the effects of increasing geopolitical and economic uncertainties, the primary digital currency touched a low of $76,800, indicating a notable sentiment shift among market participants.

    This BTC price decrease occurs alongside broader instability throughout international financial and crypto markets. American stock index futures dropped by up to 5 percent before the week’s trading began, increasing worries about a potential widespread selloff. The turmoil has also affected the BTC, ETH and XRP price. Today’s crypto market crashed due to trade tensions, regulatory questions, and significant liquidations, impacting the fear and greed rate.

    Bitcoin Price Significant Fall Suggests a Turning Point

    Today’s BTC price drop marked its lowest point since mid-March, showing almost a 7 percent decrease within 24 hours. This Bitcoin price drop wiped off weeks of positive market movement, causing over $600 million in crypto liquidations as leveraged positions were eliminated rapidly. According to CoinGlass data, this chain of liquidations has intensified the negative pressure, adding to Bitcoin’s downward spiral.

    Jonatan Randing, a recognized market analyst, pointed out that BTC is nearing its Weekly 50 Exponential Moving Average (EMA). This EMA is a historically crucial support indicator during upward market trends. However, considering overall market conditions, some analysts now question whether Bitcoin is still in a bull market phase. Despite strong trading volume and past outperformance compared to major stock indices, the recent decline might indicate a longer bearish period.

    Understanding the Concerns Around Bloody Monday

    The phrase “Bloody Monday” is trending again, recalling the notorious October 19, 1987, market crash. On that day, American markets saw their largest single-day drop. Current anxiety arises from escalating global trade tensions, especially after President Trump imposed broad tariffs on European Union imports. These actions, along with potential retaliation from EU countries, have led investors to expect a turbulent beginning to the trading week.

    Analysts like Charles Gasparino and hedge fund manager Bill Ackman are expressing concerns. Gasparino suggested Monday could become “the ultimate pain day” for markets. Ackman warned about a possible “economic nuclear war” if the tariff conflict continues to grow. As futures markets decline, investors are looking for safer assets, although Bitcoin’s role as a digital haven seems weakened currently.

    Broader Consequences for the Cryptocurrency Market

    The substantial decrease in Bitcoin price has also negatively affected altcoins. Ethereum price has dropped more than 12 percent, now trading around $1,538. XRP price has likewise recorded double-digit percentage declines recently, and Ripple price is $1.77 as of April 7. The total cryptocurrency market capitalization has decreased to $2.62 trillion, reflecting a general decline in investor confidence.

    Some market experts believe we might be heading into a prolonged bear market phase. On-chain data shared by Ki Young Ju of CryptoQuant indicates an increasing Realized Cap alongside a flat market cap. These are typically considered signs pointing toward bearish market dominance. The future outlook is still unclear; much relies on market reactions to Monday’s opening and potential political actions to ease economic tensions.

    A Key Moment for Bitcoin Price and Financial Markets

    As investors prepare for Monday’s trading activities, Bitcoin’s future and that of the broader financial markets remain uncertain. If the market crashes more, the weekend selloff might intensify into a more significant correction. With BTC price breaking critical thresholds, confidence in this digital currency faces a significant test.

    The response of policymakers and investors in the coming days will be crucial. A reduction in trade tensions or a change in macroeconomic sentiment could help stabilize the markets. Until then, the possibility of Bloody Monday persists, marking a potentially crucial week for Bitcoin, ETH, XRP price, other altcoins, and global finance.

    News Room

    News Room

    Editor

    Newsroom is the editorial team of CoinfoMania, delivering 24/7 crypto news, market insights, and in-depth analysis. With 30+ journalists worldwide, we keep you ahead in the blockchain space.

    Read more about News Room

    Loading more news...