Bitcoin Crashes to $77,000 — Over $590 Million Wiped Out in Massive Crypto Liquidation Frenzy!

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Jakarta, Pintu News – Bitcoin (BTC) fell at $77,000 on Monday (7/4) as investor sentiment in the global market weakened. According to BeInCrypto, this drop coincided with a surge in daily liquidations that totaled $590 million.
Heightened concerns over former President Donald Trump’s proposed tariffs and escalating geopolitical tensions also put immense pressure on risky assets.
Then, how will the Bitcoin price move today?
On April 7, 2025, Bitcoin (BTC) was trading at $77,385, equivalent to approximately IDR 1,323,365,524. The price dropped by 4.75% over the past 24 hours. During this time, BTC reached a high of IDR 1,392,117,544 and fell to a low of IDR 1,302,999,097, reflecting a day of sharp volatility in the crypto market.
According to CoinMarketCap, Bitcoin’s market capitalization now stands at around $1.53 trillion, with trading volume in the last 24 hours also up 219% to $44.63 billion.
Read also: Ethereum Price Crashes 12% Today (7/4/25): ETH Faces Declining Fees and Inflation!
Reporting from BeInCrypto (6/4), the long-short ratio for Bitcoin fell to 0.89, with short positions now accounting for nearly 53% of total trading activity. This shift reflects increasing skepticism towards the direction of Bitcoin’s short-term movement.
Traditional markets also experienced sharp declines. The Nasdaq 100, S&P 500, and Dow Jones all entered correction territory last week, recording their worst weekly performance since 2020.
Bitcoin closed the first quarter of the year with a decline of 11.7%, making it the weakest first quarter since 2014.
The overall crypto market fell 2.45% on Sunday, reducing the total market capitalization to $2.59 trillion. Bitcoin remains the dominant asset with a market share of 62%, followed by Ethereum which holds 8%.
Sunday’s sell-off triggered the liquidation of $252.79 million worth of crypto derivatives. Long positions accounted for the bulk of the figure, amounting to $207 million. Ethereum (ETH) traders accounted for around $72 million in the liquidation of long positions.
Bitcoin price remains highly sensitive to changes in global liquidity and often reflects broader macroeconomic trends. With US markets set to reopen on Monday, this weekend’s activity signals the potential for continued volatility.
Investors are likely to face additional pressure after Federal Reserve Chairman Jerome Powell warned that Donald Trump’s tariff plans could push inflation higher while slowing economic growth.
Read also: 3 Cryptos that Catch Investors’ Attention in Early April 2025!
This combination increases the risk of stagflation-a situation where policy tools become less effective. Efforts to stimulate the economy can exacerbate inflation, while policies to control prices can actually depress growth.
Meanwhile, according to CryptoQuant CEO Ki Young Ju, the Bitcoin bull market appears to be over based on analysis of on-chain data.
One of the key metrics to indicator is Realized Cap, which is a measure of the amount of real capital coming into the market by tracking when BTC is bought (into wallets) and sold (out of wallets).
“However, when selling pressure is very high, even large purchases fail to move prices. There are too many sellers in the market. For example, when Bitcoin was trading close to $100,000, the transaction volume was huge, but the price barely moved,” he explains.
When the Realized Cap increases but the Market Cap (based on the latest trading price) stagnates or even decreases, it indicates that there is money flowing into the market, but the price is not responding-a bearish signal. Right now, that’s exactly what’s happening.
Conversely, if even a small amount of new capital is able to push the price up, it’s a sign of a bullish market. But right now, even large amounts of capital are not enough to lift the price of Bitcoin, indicating a bearish market.
Read also: Legendary Trader Peter Brandt Predicts Bitcoin Plummeting to $70,000, What Will Happen Next?
Historically, a true market reversal takes at least six months, so a near-term recovery is considered unlikely.
“In short: if a little capital can push prices up, it’s a bull market. But if even big capital can’t lift prices, it’s clearly a bear market. The current data strongly suggests the latter. The selling pressure may subside at any time, but historically, real market reversals take at least six months-so a short-term rally seems unrealistic,” he concluded.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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