- Ethereum and Solana experience steep declines, signaling broader market correction.
- Tech stocks like Tesla and NVIDIA face significant pullbacks amid economic concerns.
- Major indexes, including Nasdaq and S&P 500, reflect widespread investor caution.
In recent weeks, both traditional equities and cryptocurrencies have seen significant pullbacks from their all-time highs, signaling a broad market correction. Among the hardest hit assets is Ethereum, which currently sits 63% below its previous peak. Solana follows closely behind, registering a 53% drawdown.
The declines extend across sectors, affecting high-growth tech stocks and blue-chip giants alike. Investors are now watching closely for signs of either recovery or further decline, amid rising uncertainty in the macroeconomic environment.
Drawdowns from ATH – ranked highest to lowest📉
— Maartunn (@JA_Maartun) April 4, 2025
Ethereum: -63%
Solana: -53%
TSLA: -49%
NVDA: -35%
GOOGL: -28%
AMZN: -27%
AAPL: -26%
MSFT: -21%
Bitcoin: -21%
Nasdaq: -20%
S&P 500: -16%
Pick your fighter 🥊 pic.twitter.com/BTXPa9OY7h
Ethereum and Solana Take the Hardest Hit
Ethereum, the second-largest cryptocurrency by market cap, has dropped substantially in recent months. As of press time, ETH trades at $1,809.27, reflecting a modest 0.30% decline in the past 24 hours.
However, over the past week, it has shed nearly 4% of its value. With a market cap of $218.3 billion and a circulating supply of 120 million ETH, Ethereum’s long-term position remains strong despite short-term volatility.
Solana, another major cryptocurrency, also faces headwinds. Currently priced at $120.54, it has declined over 5% in the last week. Unlike Ethereum, Solana saw a slight recovery of 2.76% over the last 24 hours. With a market cap of $62 billion and a circulating supply of 510 million tokens, Solana’s drawdown is the second-highest on the list.
Tech Stocks Under Pressure
In the equities space, Tesla has experienced a steep decline. The stock currently trades at $239.43, showing a sharp 10.42% drop. NVIDIA has also pulled back significantly, with a 7.36% drop in regular hours and a further 1.81% decline after hours. At $92.60, NVDA is now 35% below its all-time high.
Alphabet (GOOG), Amazon (AMZN), and Apple (AAPL) have also seen notable retracements. GOOG trades at $147.74, down 28% from its peak. Amazon has declined 27%, currently priced at $170.20. Apple stands at $186.60, marking a 26% drop. Meanwhile, Microsoft has held up relatively better, with a 21% drawdown from its high, now trading at $359.75.
Indexes Reflect Broader Sentiment
The broader market shows a similar pattern of contraction. The Nasdaq Composite has dropped 20% to 15,587.79, while the S&P 500 has fallen 16% to 5,074.08. These figures highlight the extent of investor caution, as global economic uncertainties continue to weigh on sentiment.
