Bitcoin, Ethereum, XRP, Dogecoin Extend Losses As White House Hammers Chinese Goods With 104% Tariff

Cryptocurrency markets are down on Tuesday, amid the White House announcing a 104% tariff on Chinese goods, further intensifying fears of a global trade war.

Cryptocurrency	Price	Gains +/-
Bitcoin BTC/USD	$76,817.60	-2.1%
Ethereum ETH/USD	$1,465.08	-5.6%
Solana SOL/USD	$105.02	-0.9%
XRP XRP/USD	$1.83	-3.3%
Dogecoin DOGE/USD	$0.1441	-2%
Shiba Inu SHIB/USD	$0.00001073	-5.2%

Notable Statistics:

• IntoTheBlock data shows large transaction volume increasing by 75.8% and daily active addresses growing by 16.2%. Transactions greater than $100,000 are up from 7,593 to 13,114 in a single day. Exchanges netflows are up by 154%.
• Coinglass data reports 101,818 traders were liquidated in the past 24 hours for $302.01 million.

Notable Developments:

• Bitwise Turns Crypto Volatility Into Yield With New ETF Trio
• XRP Will Overtake Ethereum By 2028: Standard Chartered
• Trump Administration Shuts Down The Department Of Justice’s Crypto Crime Unit
• Ripple Acquires Prime Broker Hidden Road For $1.25 Billion
• Will Trump Impose Higher Tariffs On China? Crypto Bettors Now See An 80% Possibility
• Bitcoin Is A ‘More Liquid And Higher Volatility Version Of Gold’: Bernstein

Top Gainers:

Cryptocurrency	Price	Gains +/-
Core CORE/USD	$0.4764	+14%
Fartcoin FARTCOIN/USD	$0.5629	+11.5%
Zcash ZEC/USD	$34.47	+6.6%

Trader Notes: Crypto chart analyst Ali Martinez believes Bitcoin needs to reclaim the $80,000 level to validate a relief rally toward $91,000. Without that, the risk of a deeper breakdown remains on the table.

Doctor Profit, on the other hand, isn't convinced.

In his latest post on X, he warns that bearish sentiment is just getting started and expects the market to continue sliding.

He's targeting the $58,000 to $68,000 zone as a strategic buying range, calling the current market action the beginning of the real correction.

#Bitcoin: Expecting the market massacre to continue, placing first buy orders between 58-68k region, the dump is far from over, the party just started for us, congratulations for all of you pic.twitter.com/PB997aXbus

— Doctor Profit 🇨🇭 (@DrProfitCrypto) April 8, 2025

Despite the gloomy outlook, Javon Marks leans bullish.

He highlights that Bitcoin has a historical tendency to rally from oversold trend indicator levels—and we're back in that zone. Based on previous recoveries from similar setups, Marks sets a target of $116,652, calling this a recurring trend behavior.

Meanwhile, MaxBecauseBTC delivers a blunt warning, If Bitcoin fails to hold here, the cycle could be over.

$BTC chart – We simply must hold this level. If not, cycle is likely over (unless QE ZIRP again) pic.twitter.com/b3Rw8o4mXa

— Max (@MaxBecauseBTC) April 8, 2025

 Read Next: 

• Raoul Pal Says Crypto Market Nowhere Near COVID-19 ‘Peak Fear’

Image: Shutterstock