Crypto Crash: Bitcoin Plummets Below $79,000 as $160 Billion Wiped from Market in Brutal Sell-Off!

Jakarta, Pintu News – This weekend was a nightmare for cryptocurrency investors. Bitcoin (BTC), as the main cryptocurrency, plummeted from a comfortable position of above IDR 1,42 billion ($84,000) to below IDR 1,35 billion ($79,000).

In just two days, the value of the global crypto market shrank by more than IDR 2,7 quadrillion ($160 billion). The turmoil sparked widespread panic and raised questions about the short-term stability of the crypto market.

Bitcoin (BTC) tumbles, altcoins fall with it

On Friday (4/4/25), Bitcoin was still holding above the IDR 1,42 billion threshold, but by Sunday afternoon US time, its value had plummeted to around IDR 1,34 billion ($79,385).

It even hit a daily low of IDR1,33 billion ($78,639), recording a decline of more than 4.3% within 24 hours.

Read also: Why did the Crypto Market Crash Today (7/4/25)?

Bitcoin’s decline triggered a domino effect across the cryptocurrency ecosystem. Ethereum (ETH) saw a 10.5% drop, Ripple (XRP) slumped 6.6%, and Binance Coin (BNB) fell 5.8%. Solana (SOL) and Dogecoin (DOGE) both lost around 9.5% of their value in just a day.

Derivatives Panic and Billion Rupiah Liquidation

The crypto derivatives market has also taken a hit. As of Sunday afternoon US time, more than IDR 4,2 trillion ($252.79 million) worth of derivative positions were liquidated. That number jumped dramatically to IDR 10,2 trillion ($603.08 million) in just hours after BTC fell below IDR 1,35 billion.

Around IDR 2,8 trillion ($165 million) of this came from BTC long positions that were forced to close. In addition, Ethereum long positions also suffered heavy losses of up to IDR 2,5 trillion ($148 million).

This wave of liquidations shows just how vulnerable the crypto market is to sudden price volatility.

Investors Tested, Is this the Start of a Major Correction?

This spike in volatility opened the eyes of many market participants to the importance of risk management, especially in leveraged trading.

Read also: 3 Cryptos Sold by Whales After Donald Trump’s Liberation Day Tariff Policy!

When the price of Bitcoin fell sharply, selling pressure on altcoins and derivative instruments exacerbated market conditions. The value of positions that had to be liquidated was an indicator that many traders were over-leveraged.

This situation is forcing investors and traders to re-evaluate their strategies amidst the uncertainty of the crypto market. With BTC prices briefly below IDR1.34 billion ($78,770), critical support levels are now the main focus.

Many analysts predict that if this downward trend continues, then a major correction could occur in the next few weeks.

Overall, this weekend’s volatility shows that the cryptocurrency market is far from stable. While some may see this as an opportunity to “buy the dip”, the risk of short-term losses remains high.

Investors are reminded to be wise and not rush to make decisions in this uncertain environment.

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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.

Reference:

• Jamie Redman. Bitcoin Struggles Below $80K as Weekend Sell-Off Wipes Out $160B in Value. Accessed April 7, 2025