Grayscale Research Head: "Relatively MildTC US Tariff Announcement"b p Released a diagnoswhile stocks experienced significant declines after the US tarpolicy last week, relatively, falling only 8%. According to CoinDesk, Research Head Zach Pandl stated, "I previously expected Bitcoin to have 3 times the volatility of Nasdaq. However, as of April , Nasdaqyschas fallen 15% (compared to April 2nd), while Bitcoin fell Bitcoin - a positive figure compared to the expected -45%. Crypto investors should with this mild decline." He further explained, "Tariff policies will bring short-term risk-averse events to the market. However long, will likely likely help Bitcoin adoption in the long. The mild decline reflects this fact." He added, "Generally, stagflation negatively impacts stocks and bonds while positively affecting scarce commodities. Investors concerned about stagflation are seeking alternative assets that can generate returns, with gold, copper, and Bitcoin being prime examples."
Binance CEO: "Macro Uncertainty May Help Accelerate Crypto Investment"
Binance CEO Richard Teng stated on X that "unstable and unpredictable macro environment could potentially accelerate crypto investment." He explained, "The revival of protectionism is bringing significant volatility to global markets, and cryptocurrencies are no exception. Such macroties to short-term risk-averse reactions. Investors will likely observe how policies and trade situations unfold. However, simultaneously, this environment might accelerate interest in cryptocurrencies as a non-sovereign value storage mechanism. Many long-term holders predict that Bitcoin and other cryptocurrencies will demonstrate resilience during periods of economic stress and policy dynamic changes."
White House: "104% Tariffs on China Effective"
According to Walter Bloomberg citing a Business reporter, the White House spokesperson announced that "104% tariffs on China have been implemented, with additional tariffs to be imposed from April 9th local time."
Analysis: "Global Banks Expected to Enter Crypto Market by Year-End"
Analysts predict global banks will fully enter the BTC and crypto market by year-end. Messari CEO Eric Turner forecasted that "with US regulatory environment becoming crypto-friendly, global banks' BTC service market entry will become active by the second half of this year." Signum Bank co-founder Thomas Eichenberger explained that "with crypto banking regulations established, global banks headquartered in the US are expected to pursue crypto service offerings."
2x Long XRP Futures ETF Records $5 Million Volume First>
Bloomberg ETF analyst Eric Balchunas reported that the the 2x Long XRP Futures ETF issued by TTeucriumETFs recorded $5 million million on day He noted, considering recent market conditions, this is very impressive and representing the top % of newly launched ETFs and approximately 4 times the trading volume of the 2x Solana ET)."
Analysis: DeFi Loan Demand Drops Due to Deleveraging
CoinDesk reported that amid market chaos, DeFi loan demand has sharply declined as traders increase deleveraging. The outlet explained that "with increased crypto price volatility, risk-off sentiment is spreading. As investors repay loans and settle positions,,,eFis decreasing. Meanwhile, stablecoin yields are declining as funds deposited in loan protocols remain at a certain level. Actually, dollar-based stablecoin yields have dramatically fallen from 18% in December to 2.8%."
TreasureDAO Drastically Reduces Quarterly Expenditure to Difficulties
Blockworks reported that blockchain game TreasureDAO (MAGIC) announced massive budget cuts, quarterly expenses from $11.3 million to $1. 2 million. As of the fourth quarter last year, TreasureDAO's quarterly expenses were $11.3 million while revenue was only $40,000. Current funds are reportedly only sufficient to operate the platform July this year. TreasureDAO has recently conducted layoffs including executives and canceled game distribution plans.
Rootstock to Release Software Development Kit for BTC Layer 2
CoinDesk reported that Bitcoin sidechain Rootstock plans to release a Software Development Kit (SDK) for BTC Layer 2, utilizing a modified version of the BitVM programming language called BitV.Mdevelopers can build BTC Layer 2 using BitVMX, according to Rootstock.
Layer 2 ZKcandy Mainnet Launched
Sync-based game-focused EthereumLayer Layer 2 ZKcandy has launched its mainnet, as reported by Decrypt. Previously, ZKraisedan$4 a private funding round led by WEMIX and Animoca Venturesca Ventures.
DecentralGPT Raises $3 Million Investment
Decentralized AI large language model inference network DecentralGPT raised $3 million in angel and Series A rounds.
Abegochi DAO Passes Migration From Polygon
The Block reported that the Aavegotchi (GHST) DAO passed a governance proposal to migrate from Polygon to Base. Along with this, the Aavegotchi development team, Pixel Craft Studio, plans to shut down the Base-based Layer 3 network Geist.
Analysis: "ETH Could Drop to $990"
An analysis suggests that ETH could drop to $990. Cointelegraph stated, "The current price movement of ETH is very similar to the fractal patterns seen in 2018 and 2022. At that time, ETH showed a strong rise followed by a sharp decline, and then experienced a long bearish market. ETH formed a bearish divergence where price highs increased but RSI highs decreased, and subsequently experienced a major correction after breaking key support levels. Generally, the cycle bottom is formed after the RSI enters the oversold zone (below 30). Currently, the ETH/USD weekly RSI is above 30, indicating a potential for further decline. In this case, ETH could fall to $990-$1,240."
Analysis: "BTC Might Form Bottom Near $70,000"
Crypto trader Rekt Capital, with approximately 542,000 X followers, diagnosed on X that Bitcoin could bottom out near $70,000. Citing the daily RSI, he explained, "The current daily RSI is estimated to be around 38. The weekly chart RSI is 43, the lowest level since the bullish market began in early 2023." He added, "Bitcoin could drop to $70,000 before recovering."
US Stock Indices Close Lower
The three major US stock indices closed lower.
S&P500: -1.57%
Nasdaq: -2.15%
Dow: -0.84%
Bitget Lists RFC
Bitget announced the listing of RFC/USDT spot trading pair in the Innovation and Meme zones.
Binance Alpha Adds RFC
Binance Alpha has added RFC. Tokens for Binance Alpha are selected based on community and market trends from early projects. Future listing is not 100% guaranteed.
BTC Falls Below $78,000
According to Coinness market monitoring, BTC fell below $78,000. On the Binance USDT market, BTC is trading at $77,936.63.
BTC Falls Below $77,000
According to Coinness market monitoring, BTC fell below $77,000. On the Binance USDT market, BTC is trading at $76,959.91.
