A major Bitcoin Selloff on April 20, 2025 sends shockwaves across crypto space. When the price of Bitcoin started crashing, this was accompanied by a rapid increase in trading volume. Short term sentiment became negative. This unanticipated dip led to significant hand wringing and just basic wringing of hands among investors and analysts.

Crypto Rover, a well-known crypto analyst, reported the sell-off on X (formerly Twitter) at 10:45 AM UTC. Rover’s findings lay out the shocking extent of Bitcoin’s price collapse. In fact, in just 15 minutes it completely crashed from $68,320 to $66,450! This sudden price decline was 2.74%, surprising thousands of traders in the process.

The market responded quickly, with trading volume for Bitcoin jumping past $25 billion in the same timeframe. This increase in trading volume indicated possible panic selling with investors scrambling to dump their assets. That increased trading volume was perhaps best indicative of just how panicked the market’s reaction was to the unprecedented overnight price spike.

That analysis showed more than 1,000 transactions of more than $1 million took place in the hour after the first price spike. These high dollar transactions only added to the speculation over the nature of the sell-off. The unusually large amount of high-value trades underscored the role that these big players played in how the market has reacted.

The fallout of the sell-off was not limited to Bitcoin alone, dragging down the market cap of other leading cryptocurrencies. Ethereum’s trading volume reached $10 billion, while Litecoin’s reached $2 billion. These numbers highlighted just how widespread the sell-off of Bitcoin was as it affected the entire cryptocurrency market.

In particular, the Crypto Fear and Greed Index made a huge leap from 65 to 72. This dramatic rise indicated that, even in a bear market, investors were prioritizing short-term greed over long-term sustainability. The direction of the index’s rally signaled a reversal in overall market sentiment, with some investors considering Monday’s dip a buying opportunity on battered big technology stocks.

At the same time, the Relative Strength Index (RSI) tanked from 70 to 45 in the span of one hour. This decline moved the market from overbought to neutral territory, setting up a possible bearish momentum shift. That slide in the RSI’s direction signaled a possibly major shift in the technical outlook for Bitcoin.

Open interest in Bitcoin futures saw a significant decrease, falling by more than 10%. This net reduction was a signal of growing long liquidation as speculative positions were being cut, possibly further exacerbating the downtrend in prices. The open interest drop pointed to an unwinding of leveraged bets on Bitcoin’s price.

The unexpected crypto market roller coaster effect created a domino with almost all major cryptocurrencies crashing. Similarly, when Ethereum and Litecoin both suffered high percentage price drops this month, it was a testimony to their tethering to the broader crypto market. The resulting synchronized price movements looked bad but really just emphasized how sensitive altcoins can be to Bitcoin’s performance.