Bitcoin Slid to Its Lowest Level Since Early March

Bitcoin fell toward $47,000 on April 25, 2021, reaching its lowest level since early March and extending a retreat from the record set less than two weeks earlier. The decline made the weekend session the clearest cryptocurrency development of the date: a market that had celebrated Coinbase’s public listing on April 14 was testing how much leverage and confidence remained beneath the rally.

CoinMarketCap’s end-of-day historical snapshot recorded bitcoin at $49,004.25, down 2.09% over 24 hours and 12.83% over seven days. The snapshot placed bitcoin’s market capitalization at $915.96 billion, based on a reported circulating supply of 18,691,356 BTC, and showed $46.12 billion in rolling 24-hour volume.

Those figures describe an aggregated reference market, not one executable closing trade. Cryptocurrency markets operate continuously, and prices vary across exchanges, currency pairs and timestamps. CoinMarketCap’s daily convention uses the UTC day, ending at 23:59 UTC.

A correction deepens after the April record

Reuters reported on April 26 that bitcoin had touched its lowest level since early March during the Sunday session on April 25. The report described five consecutive losing days and said the asset remained more than 19% below its April 14 record when measured at Reuters’ later April 26 observation.

Coinbase’s contemporaneous weekly market review likewise placed the weekend low at approximately $47,000. Its report said prices began recovering on April 26, but that rebound was not yet part of the completed April 25 record. The defensible event-day conclusion is narrower: bitcoin broke decisively below $50,000 during the UTC session and finished the measured day beneath that threshold.

The move mattered because April’s record had been closely associated with institutional-adoption narratives. Coinbase had completed its Nasdaq direct listing on April 14, while companies including Tesla held bitcoin on their balance sheets and large financial institutions were exploring client access. The April 25 low demonstrated that those developments had not removed bitcoin’s capacity for rapid, double-digit weekly losses.

The broader market was uneven

CoinMarketCap’s April 25 snapshot did not show a uniform liquidation across every major asset. Ether was recorded at $2,316.06, up 4.72% over 24 hours and 3.53% over seven days. Uniswap’s UNI rose 12.53% over 24 hours, while Solana’s SOL gained 16.28% and stood 46.64% higher over seven days.

Bitcoin nevertheless remained the largest cryptocurrency, so its retreat carried greater significance for aggregate valuations and market sentiment. The divergence also cautioned against describing April 25 as a single synchronized percentage decline across “crypto.” Performance depended materially on the instrument and measurement window.

What could—and could not—be attributed

Contemporaneous reports connected the preceding selloff with concern over a possible increase in U.S. capital-gains taxation. Coinbase also identified the automatic liquidation of leveraged bitcoin positions as an accelerator once prices began falling. Those explanations were plausible market narratives available on April 25 and April 26, not demonstrated single causes.

The cited Coinbase review did not provide a venue-by-venue liquidation ledger, exact liquidation total or timestamped causal analysis. Reuters also did not identify a consolidated exchange index for its intraday observations. Weekend liquidity, profit-taking after the April record and changing risk appetite could have contributed, but the surviving evidence does not permit those influences to be separated quantitatively.

Immediate context after April 25

On April 26, Coinbase reported that bitcoin rebounded as high as approximately $54,000, while Reuters observed a later price of $52,452. Those post-event observations confirm that the April 25 low did not become a fixed closing level for the following session. They do not change what April 25 established: bitcoin had reached its weakest price since early March and completed a severe weekly correction despite an exceptionally strong institutional narrative.