Key Takeaways
In pre-market U.S. trading, China and the EU's tariff countermeasures continued to fuel market panic. Trump posted that now is a great time to buy, stabilizing market sentiment. Subsequently, the U.S. temporarily suspended some tariffs, completely reversing the panic. The three major U.S. stock indices collectively surged, with the Nasdaq recording its second-largest single-day gain in history. Bitcoin broke through the $81,200 resistance level, closing up 8.24%.
Main Assets Changes
Crypto Market Fear & Greed Index: 39 (18, 24 hours ago), level: Fear
Macroeconomic Developments
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Trump: Authorized a 90-day suspension of tariffs, with reciprocal tariffs reduced to 10%.
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China imposed an additional 50% tariff on all imported goods from the U.S.
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The EU approved a 25% tariff countermeasure against the U.S.
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After the tariff suspension, traders scaled back bets on a Fed rate cut in May.
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Fed Meeting Minutes: The U.S. economy faces risks of high inflation and low growth. Given the significant uncertainty in the economic outlook, maintaining unchanged interest rates is appropriate.
Industry Highlights
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Paul Atkins' nomination as SEC Chairman passed the Senate vote.
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The U.S. SEC approved options trading for spot Ethereum ETFs.
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The U.S. CFTC clarified it will cease regulating the crypto asset industry through lawsuits.
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Ukraine plans to impose an 18% income tax on virtual assets.
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The UK Financial Conduct Authority will implement a new crypto asset regulatory framework in 2026, covering stablecoin issuance, payment services, lending, exchanges, and more.
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Pakistan plans to use some surplus electricity for Bitcoin mining.
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Trump posted before the tariff suspension: "Now is a great time to buy."
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Strategy responded to rumors of "possibly being forced to sell Bitcoin," stating it has no plans to sell and that it was merely a routine risk disclosure.
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DWF Labs subscribed to 250 million WLFI at an average price of $0.1.
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David Sacks will speak at the Bitcoin 2025 conference next month.
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Tether plans to launch an AI platform in June or September this year, potentially competing with OpenAI.
Project Highlights
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Trending Tokens: FARTCOIN, POPCAT, ALCH
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SOL: With the recent RFC meme coin trend, Solana's on-chain activity has rebounded, and buy orders for SOL have increased.
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DOGE: 21Shares filed an application for a spot Dogecoin ETF in the U.S.
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AAVE: Aave initiated a token buyback mechanism, with a first-month budget of $4 million.
Weekly Outlook
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April 10: U.S. March CPI data; China imposes 34% tariffs on U.S. goods.
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April 11: U.S. March PPI data; the U.S. SEC will hold its second roundtable on crypto regulation.
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