Crypto News: Bitcoin Hashrate Soars, Ethereum Whales Act, and Tariff Fears Shake Markets
April 8, 2025
The crypto market is navigating choppy waters as global trade tensions and tariff uncertainties continue to impact investor sentiment. Here’s the latest on Bitcoin, Ethereum, Litecoin, and other popular coins, answering the questions on every crypto enthusiast’s mind.
Bitcoin (BTC): A Historic Milestone Amid Price Volatility
Bitcoin hit a major milestone as its hashrate surpassed 1 zetahash per second on April 5, signaling robust network security and miner confidence. However, the king of crypto isn’t immune to market pressures. After dropping to $74,000 earlier this week due to tariff-related fears, BTC rebounded slightly to $78,892.92 as of April 6. Analysts note that Bitcoin is down 16% in 2025, moving in tandem with equities as recession fears loom. Will BTC reclaim its $80,000 support level soon? Investors are watching closely.
Ethereum (ETH): Whales Make Bold Moves
Ethereum is facing its own challenges, down 20% since February and hit harder than Bitcoin due to its dual role as a currency and blockchain ecosystem. On April 8, an Ethereum whale deposited $14 million in ETH to avoid liquidation on a $340 million short position, highlighting the high-stakes game in the market. ETH is trading near $1,809.78, its weakest against Bitcoin since May 2020. Despite the downturn, institutional interest in Ethereum futures remains strong—could this signal a recovery on the horizon?
Litecoin (LTC): Holding Steady Amid the Storm
Litecoin has shown resilience, consolidating above $80 earlier this month even as other major coins faltered. However, recent posts on X indicate Litecoin has slipped below this key level, with miner activities suggesting potential further declines. Priced at $82.24 as of March 31, Litecoin’s stability is bolstered by rising ETF approval odds and regulatory developments. Can LTC maintain its footing if market volatility persists?
Popular Coins: XRP, Solana, and More Feel the Heat
Other popular cryptocurrencies aren’t faring much better. XRP and Solana (SOL) have seen significant drops, with some X posts noting declines exceeding 10% amid the tariff-induced market rout. Supra, a lesser-known coin, bucked the trend with a 25% surge on April 4, catching the eye of investors looking for hidden gems. Meanwhile, the broader crypto market cap has dipped 11.65% since January, sitting at $2.88 trillion.
What’s Driving the Market?
President Donald Trump’s tariff policies remain a major concern, with reciprocal tariffs dubbed “Liberation Day” on April 2 rattling global markets. Crypto stocks like Coinbase have slipped, though MicroStrategy, a Bitcoin proxy, gained nearly 4% recently. On the regulatory front, Trump’s push for a stablecoin bill and his family’s growing crypto ventures—like World Liberty Financial’s new dollar-pegged stablecoin—signal a complex future for digital assets.
What’s Next for Crypto?
With Bitcoin’s hashrate achievement and Ethereum’s whale activity, there’s a mix of optimism and caution in the air. Readers are asking: Will tariffs continue to drag prices down, or can regulatory clarity and institutional adoption spark a rally? For now, the market remains a rollercoaster—stay tuned to Manhattan Express for the latest updates on your favorite coins!
