The "Sell now, think later" panic has pushed Bitcoin and altcoins into a sharp dump.

The uncertainty created by the new tariffs announced by U.S. President Donald Trump on April 2 led to sharp selling waves in global markets. While Asian exchanges started the week with significant losses, sharp declines were also experienced in the cryptocurrency market.

Presto Research Director Peter Chung evaluated the selling pressure in the markets with the following words:
"In an increasingly cautious environment regarding the scope of customs duties, those investing in risky assets, including Bitcoin, are acting with a ‘sell now, think later’ mentality."

Chung also stated, “Growth Scare 2.0 is fully in play; markets are pricing in more than 100 basis points of interest rate cuts this year.” He emphasized that the recovery of the markets depends on three factors: the global response level, whether the Trump administration can present a long-term plan, and how the (Fed) will respond to this instability.

In the last 24 hours, the GMCI 30 index, which measures the performance of the top 30 cryptocurrencies, dropped by 8.6%. According to the announced data, positions worth 890 million dollars were liquidated in one day, of which 758 million dollars were long positions. Bitcoin lost nearly 8% in value, falling below 75 thousand dollars. ETH, on the other hand, decreased by over 16%, reaching the level of 1,400 dollars.

Panic selling was not limited to just the crypto markets. Japan’s Nikkei 225 index fell 8% at the opening and a circuit breaker was applied. South Korea’s Kospi index lost 4.6%, and China’s Shanghai Composite Index dropped 5.8%.

Growth Scare is known as the fear emerging in the markets that economic growth will slow down, and the resulting selling pressure. The “2.0” suffix indicates that this situation has occurred before.

Published: April 7, 2025 14:14