Current Bitcoin Price: The leading cryptocurrency opened positively above $80,000, recovering from a five-month low of $77,000 the previous day caused by tariffs imposed by U.S. President Donald Trump.
As of 7:32 AM on April 8, data from CoinMarketCap indicates that Bitcoin has risen by 2.09 percent compared to the previous day, with a price of $80,559.88 per coin. Its market capitalization stands at $1.59 trillion, and the trading volume is reported at $88.59 billion.
Additionally, Bitcoin’s market dominance currently sits at 62.79 percent, reflecting a day-over-day increase of 0.26 percent, according to the data.
“Currently priced at $80,700, Bitcoin faces resistance at $84,000, while support is established at $75,900,” stated Alankar Saxena, Co-founder and CTO of Mudrex.
Expert Analysis: ‘On a Path to Recovery… Selling Pressure May Persist…’
Saxena mentioned that the increase in Bitcoin’s long-term holder supply demonstrates strong confidence in the asset amidst volatility. He stated that the crypto market is “on a path to recovery, with Bitcoin, Ethereum, and Solana experiencing gains of up to 15 percent from their recent lows.”
“As global markets adapt to ongoing trade fragmentation and reciprocal tariffs, Bitcoin’s potential as a safe-haven asset may become more significant, contributing to its upward trend,” Saxena posited.
According to CoinSwitch Markets Desk, Bitcoin briefly slid to $74,600 before bouncing back to $80,800. “Currently, Bitcoin is trading around the $80,000 threshold, up 2.2 percent in the last 24 hours. Approximately $377 million worth of Bitcoin was liquidated during this timeframe, remaining below both 50-day and 100-day moving averages,” the report noted.
“Altcoins saw some recovery, with XRP, SOL, TRX, and ADA gaining 1.6 percent, 4.9 percent, 2.3 percent, and 4.6 percent, respectively,” CoinSwitch Markets Desk added.
What should investors watch for? According to Saxena, “all attention is now directed towards the upcoming U.S. CPI data, which could impact market sentiment. We may witness a trend reversal if inflation data comes in softer than anticipated.”
As reported by Coinglass, bullish crypto positions worth about $1.5 billion were liquidated in the past 24 hours — the highest level recorded in 2025. Sean McNulty, head of APAC derivatives at digital-asset prime brokerage FalconX, informed Bloomberg that options markets suggest the selling pressure might continue “with a significant increase in the skew for puts.”
Crypto Market Update: Ether, Tether, and Solana Gain Ground
According to CoinMarketCap, as of April 8, the total cryptocurrency market capitalization is $2.55 trillion, reflecting a 1.55 percent increase over the past day. Additionally, the total cryptocurrency market volume is $200.99 billion, up by 89.81 percent.
Ether (Ethereum network), the second-largest cryptocurrency, is currently priced at $1,589.05, marking a 0.36 percent rise over the last 24 hours. Its market capitalization stands at $191.76 billion, with a trading volume of $44.73 billion.
The US Dollar-pegged stablecoin Tether is trading at $0.9995, with a market capitalization of $144.12 billion and a trading volume of $155.44 billion.
On April 8, Solana, a favored crypto of Donald Trump, trades at $110.90, with a market cap of $57.17 billion and volume reaching $8.55 billion.
