#Gate广场四月发帖挑战 Tariff hammer falls, the Middle East powder keg ignites again! BTC risks holding above $66,000, ETH’s fate hangs on the $2,000 mark! Over 140,000 traders wiped out, tonight’s non-farm payrolls could trigger another wave?

April’s market script is more dramatic than palace intrigue dramas, as the tariff hammer lands, sparking panic selling, and Middle East tensions add fuel to the fire. The hard-earned gains by bulls vanish in an instant!
Overnight, U.S. President Trump delivered a nationwide speech on Iran, strongly stating that the U.S. will impose "extremely severe" strikes on Iran within the next 2 to 3 weeks, including possible attacks on energy infrastructure. Before the words even finished, oil prices surged above $104 per barrel, and Bitcoin price immediately dropped below $67,000.
In the past 24 hours, over 140,000 traders were liquidated, totaling $422 million, with longs liquidated for $249 million, nearly 60%. Today’s Crypto Fear & Greed Index is at 12, still in "extreme fear," remaining in this zone for over two months, well below the levels at the start of the year.
The bulls and bears are in a fierce battle!

📊 Market Snapshot
As of press time, total crypto market cap has fallen about 2.6% to $2.37 trillion, with all major assets suffering losses:
· Bitcoin (BTC): Currently around $66,278, after a sharp drop from a high of $69,305 to around $66,000, a decline of about 2.82%. The price has broken below the psychological $67,000 level and is testing support at $66,000.

· Ethereum (ETH): Currently around $2,044, after a significant retracement from the intraday high of $2,167, down 3.11% in 24 hours, with a low of $2,042. The $2,000 level faces a tough test.

This morning, rumors of easing tensions in Iran briefly pushed the market higher, with BTC reaching above $69,200 and ETH above $2,160, but Trump’s speech shattered bullish hopes, causing prices to reverse sharply. This kind of "big reversal" can be most damaging—high leverage traders should be extra cautious!
🔍 Root Causes of the Crash: Triple Impact
This plunge isn’t isolated but results from multiple negative factors resonating together:
① Trump’s tough stance triggers sell-off

In his nationwide speech on Iran, Trump signaled a hardline approach, claiming that the U.S. will "very severely" strike Iran in the next 2-3 weeks, including possible attacks on energy infrastructure. Markets had expected him to signal an end to the conflict, but instead, he raised the threat level, catching bulls off guard. Coupled with the formal implementation of tariffs on April 2, which set a 10% "minimum baseline tariff" on trade partners, global trade war fears intensify.

② Institutional funds retreat

Spot ETF channels are also unsettled. Bitcoin spot ETFs saw net outflows of $174 million on Wednesday, with BlackRock’s IBIT experiencing a single-day outflow of $86.52 million, ending two days of net inflows. Although Bitcoin ETFs overall saw $1.32 billion in net inflows in March, Q1 still recorded a net outflow of $496 million, reflecting lingering market anxiety.

③ DeFi security incidents worsen

Solana’s well-known decentralized exchange Drift Protocol suffered a major security breach, with approximately $285 million stolen. Attackers bridged about 129,000 ETH to the Ethereum mainnet, introducing heavy sell pressure on the secondary market and disrupting liquidity. This incident not only damages confidence in Solana but also puts ETH on the defensive.

📉 Technical Analysis: Down with volume, rebound without volume, bears dominate

Bitcoin: Stepwise decline, rebounds are unreliable

On the 15-minute chart, Bitcoin’s price dropped from a high of $69,142, with SuperTrend showing persistent red resistance, pushing resistance up to $67,130. The current price is about $600 below that. The most worrying sign is "down with volume, rebound without volume"—the volume during the sell-off was the highest of the day, while the recent small rebound has less than half the moving average volume, indicating weak buying support. Glassnode’s latest weekly report states Bitcoin remains in a wide $60,000–$70,000 range, with on-chain conditions still reflecting a market in recovery, lacking enough strength to break either side.

Key levels:
· Resistance: $66,800–$67,000 (short-term); $67,130 (SuperTrend resistance); $69,300 (previous high, strong resistance)

· Support: $66,000 (psychological level, key); $65,500 (defense zone); $65,000 (strong support, breaking below worsens structure)

Ethereum: The $2,000 level hangs in the balance

ETH’s decline today is sharper, down 4.66%. From a high of $2,167 to a low of $2,037, now only $8 above the low, with potential to test again. On the technical side, SuperTrend resistance is at $2,076, with volume only 21,787, less than half the moving average, similar to Bitcoin—down with volume, rebound without volume, with some active selling. However, ETH shows relative resilience above $2,000, which remains a critical psychological level.

Key levels:
· Resistance: $2,050–$2,076 (SuperTrend resistance zone); $2,150 (hourly resistance)

· Support: $2,000 (psychological level, critical); $1,966–$1,936 (support zone)

💡 Today’s Trading Strategy Reference
Overall approach: Follow the trend, mainly shorting on rallies, with key support for rebounds; tightly control positions before non-farm payroll data!
Bitcoin Trading Suggestions:
1. Short opportunities (main idea): When rebounding to $66,800–$67,000 and 15-minute chart shows stagnation signals, try small short positions, stop-loss above $67,200, target $66,000 → $65,500.
2. Long opportunities (small position betting): When retracing to $65,500–$65,800 and a 1-hour bullish candle appears, try very small longs, stop-loss below $65,000, target $66,500–$66,800.
3. Key break: If falling below $65,500, next support is at $65,000; if a strong rebound stabilizes above $67,500, the short-term bearish pattern needs reassessment.
Ethereum Trading Suggestions:
1. Short opportunities: When rebounding to $2,050–$2,076 without breaking, short with stop-loss above $2,100, target $2,020 → $2,000.
2. Long opportunities: When first touching $1,990–$2,000, try small longs, stop-loss below $1,980, target $2,040–$2,060.
3. Key break: If falling below $2,000, expect accelerated decline toward $1,966–$1,936.

🌪️ Today’s Key Variables
1. Tonight’s Non-Farm Payrolls (20:30 Beijing time): The most important macro catalyst this weekend. The recent ADP employment report exceeded expectations, hinting that non-farm payrolls may also be strong, further reinforcing the Fed’s "maintain high interest rates" outlook, suppressing risk assets. If the data surprises to the downside, it could be a bullish trigger.

2. New developments in Middle East tensions: The 2-3 week strike window announced by Trump has begun countdown. Any news of escalation or easing could trigger sharp market swings.

3. Follow-up on tariff policies: The formal implementation of tariffs on April 2 has heightened global trade war fears, and macro risk aversion will continue to pressure crypto assets.

4. Bitf’s view: While Bitcoin fund flows have improved, market confidence remains weak, and bears still dominate. The market is in an "event-driven" phase, where news headlines influence short-term trends far more than technical charts.

💎 Summary and Risk Control Tips
The current market is in a complex "event-driven + extreme fear" environment, with the $2,000 and $66,000 levels under severe test. Remember these points:
· Light positions before non-farm data: Volatility can be intense around major data releases. Avoid heavy positions.
· Follow the trend, avoid blindly bottom-fishing: The current decline shows volume during drops but lacks volume on rebounds, indicating a bearish trend.
· Strict stop-loss: Always set stop-loss! Always set stop-loss! Always set stop-loss!
· Watch weekend sentiment shifts: If $2,000 and $66,000 hold, the market may breathe temporarily; if both break, expect accelerated new lows.
· Be patient for right-side signals: In chaotic markets, holding cash and waiting for stabilization signals is often the wisest choice.

Markets are risky; invest cautiously. This article is for informational purposes only and does not constitute any investment advice.