ETH/BTC Crashes to 2020 Levels as Markets React to Trump’s Tariffs
Global markets are wobbling under pressure from newly imposed U.S. tariffs, and the crypto market is following suit—BTC and ETH have both taken a hit.
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The crypto sector has entered a phase of elevated turbulence following tariff announcements made by Donald Trump on April 2. Bitcoin declined by over 7% within 24 hours, while Ethereum—the largest altcoin by market capitalization—is under even greater strain.
ETH/BTC has fallen below 0.02 for the first time since January 2020. This drop, coupled with large-scale liquidations and emergency capital movements, underscores the intensifying uncertainty affecting both digital and traditional financial instruments.
Check this out: Bitcoin Falls to $75,000 Amid Market Turmoil: Correction or Collapse?
The recent market turbulence has taken a toll—Coinglass data reports $1.4 billion in crypto liquidations within a single day. In DeFi, the carnage is just as real: one Ethereum trader reportedly lost $106 million in a single liquidation event.
Global Market Snapshot
New tariffs have set off a fresh wave of economic anxiety. Asian indices are sinking—Tokyo, Shanghai, and Seoul all posted losses—further darkening the global investment outlook and spilling volatility into digital assets.
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The crypto sector is feeling the pressure. CoinShares data indicates $240 million in net outflows from digital asset investment products last week. Bitcoin accounted for $207 million of the total, while Ethereum saw $37.7 million withdrawn.
Ethereum Market Outlook
ETH/BTC has broken below the psychological 0.02 barrier, hitting 0.01936—the lowest since January 2020, TradingView shows. In just 24 hours, ETH has cratered over 17%, closing in on $1,400. For the crypto world’s second-largest asset, it’s a dramatic and unsettling turn.
The recent plunge came on the heels of net outflows totaling $39.93 million from U.S. spot Ethereum ETFs last week (March 31–April 4), as reported by SoSoValue.
The dramatic drop didn’t go unnoticed by Peter Schiff—vocal crypto critic and gold evangelist—who took to X to deliver his usual brand of bearish prophecy.
Read on: Peter Schiff Warns Crypto ‘Starting to Crack’ Amid Market Decline Triggered by Trump Tariffs
Ether crashed below $1,500 for the first time in over two years. So far the intraday low was just above $1,400, a 20% drop overnight. I don't think it will be long before it breaks below $1,000,
he posted.
Trading Activity and Liquidation Trends Amid Volatility
Amid heightened market stress, traders are adjusting rapidly. On the Sky platform, a drop in the collateralization ratio to 144% resulted in the forced liquidation of 67,570 ETH—valued at approximately $106 million.
Soon after, a MakerDAO participant deposited $14.5 million to shore up a $340 million position, successfully avoiding liquidation, according to Lookonchain.
These developments underscore how swiftly volatility can influence DeFi dynamics. Experts advise investors to remain cautious, closely monitor leverage levels, and reassess risk exposure in uncertain conditions.
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