Key Takeaways
Trump once again called for the Fed to cut interest rates, intensifying concerns about a crisis in the Fed's independence and the risk of stagflation in the U.S. economy. U.S. assets experienced a simultaneous decline in stocks, bonds, and currency, while safe-haven assets like gold and the Swiss franc rose. Bitcoin's role as a hedge amid the crisis of trust in centralized finance was evident, briefly surpassing $88,000 and closing up 2.73%, decoupling from the stock market. Bitcoin's dominance reached 64.45%, up 0.92% month-on-month, while altcoins underperformed Bitcoin overall.
Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 5,158.19 | -2.36% |
| NASDAQ | 15,870.90 | -2.55% |
| BTC | 87,518.50 | +2.73% |
| ETH | 1,579.51 | -0.50% |
Crypto Fear & Greed Index: 47 (39 a day ago), level: Neutral
Macro Economy
-
Trump again urges Fed Chair Powell to cut interest rates.
-
Poll: Trump's approval rating hits the lowest level since the start of his new term.
-
Fed's Goolsbee: The Fed's independence is crucial.
-
Bank of Japan reportedly sees little need to change its basic rate hike stance.
Industry Highlights
-
Paul S. Atkins officially assumes role as SEC Chairman.
-
Bank of Korea to actively participate in drafting stablecoin regulations.
-
Singapore Exchange plans to launch Bitcoin perpetual futures in the second half of 2025.
-
Ethereum Foundation shifts strategic focus to short-term scaling goals.
-
Circle to launch a new payment and cross-border remittance network.
-
Circle and BitGo plan to apply for banking licenses soon.
-
Initia Tokenomics: INIT total supply of 1 billion, 5% allocated to airdrops.
-
Crypto trading and investment firm GSR leads a $100M private placement in U.S.-listed company Upexi. Upexi has committed to a Solana treasury strategy, including accumulating and staking Solana.
-
Consensys, Solana, and Uniswap CEOs have all donated to Trump's inauguration fund.
-
USDC supply nears $61 billion, up 38.6% year-to-date.
Project Highlights
-
Hot Tokens: BTC, DOGE, FET
-
PAXG/XAUT: The Fed's independence crisis drives gold to new highs, boosting interest in tokenized gold PAXG and XAUT.
-
LUCE: Short-term surge of 70% following the death of Pope Francis.
-
PUFFER: Puffer Finance introduces institutional staking and restaking solutions.
-
OM: Mantra burns 150 million OM tokens allocated to the team.
Weekly Outlook
-
April 22: 2026 FOMC voter and Philadelphia Fed President Harker speaks at the Economic Mobility Summit; Tesla earnings.
-
April 23: U.S., Eurozone, and U.K. to release preliminary April manufacturing and services PMIs; 2026 FOMC voter and Minneapolis Fed President Kashkari speaks; Google to enforce MiCA crypto ad rules in the EU starting April 23.
-
April 24: Fed releases the Beige Book; Binance Launchpool lists Initia (INIT); Google earnings.
-
April 25: SEC to hold its third crypto policy roundtable, focusing on custody issues.
Note: There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
