Key Takeways
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Macro Environment: U.S. consumer confidence remains sluggish, with growing expectations of an economic slowdown. Tariff prospects remain uncertain, as the U.S. and China send conflicting signals, with China again denying any ongoing consultations or negotiations. Friday's data and events weighed on U.S. stock gains, leading to a pullback during the session.
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Crypto Market: Bitcoin mirrored U.S. stock movements on Friday, opening higher but closing up only 0.7%. However, tariff uncertainty and heightened expectations of an economic slowdown pushed Bitcoin lower for two consecutive days over the weekend. Bitcoin's dominance declined for two straight days, while altcoin sentiment improved. Hot tokens include TRUMP and XRP, with TRUMP doubling in price and trading volume surging after Trump announced a dinner for TRUMP token holders. Brazil's XRP ETF and ProShares Trust's XRP ETF are set to launch soon.
Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 5,525.22 | +0.74% |
| NASDAQ | 17,382.94 | +1.26% |
| BTC | 93,608.70 | -0.93% |
| ETH | 1,791.32 | -1.62% |
Crypto Fear & Greed Index: 54 (61 a day ago), level: Neutral
Macro Economy
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U.S. April 1-year inflation expectation final value: 6.5%, the highest since January 1980, below previous and expected values.
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U.S. April University of Michigan Consumer Sentiment final value: 52.2, near historic lows but above previous and expected values.
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Trump: Unlikely to suspend tariffs for another 90 days, hopes to reach an agreement, expects a trade deal within three to four weeks.
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U.S. Trade Representative: Negotiating alternatives for reciprocal trade.
Industry Highlights
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SEC Chair Paul Atkins: Will focus on regulatory handling of digital assets and distributed ledger technology.
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European Central Bank establishes new working group to streamline bank supervision.
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U.S. SEC approves ProShares Trust's XRP ETF for public listing on April 30.
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ProShares Trust's eight SOL and XRP crypto futures ETFs set to take effect on April 30.
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CoinShares: Q4 2024 weighted average cash cost for Bitcoin mining by listed firms was $82,162.
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Bitcoin ETFs record largest weekly net inflows since Trump took office.
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Nvidia halts Arbitrum partnership announcement, still rejects crypto elements in AI projects.
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Trump family crypto project WLFI signs letter of intent with Pakistan Crypto Committee.
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Bitcoin Core developer proposes abolishing the "satoshi" unit and removing decimals, sparking community debate.
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pump.fun cumulative revenue surpasses $613 million.
Project Highlights
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Hot Tokens: TRUMP, XRP, PENGU
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TRUMP: Reiterates no token unlocks during the dinner ranking event, extending initial and subsequent three-month unlocks by 90 days.
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XRP: ProShares Trust's XRP ETF to list publicly on April 30; Brazilian exchange lists XRP spot ETF trading.
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NEAR: Bitwise registers NEAR ETF in Delaware.
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MAGIC: Treasure DAO launches AI Agent Creator.
Weekly Outlook
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April 28: Meta's inaugural Open Source AI Conference; Binance Alpha lists Sign (SIGN).
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April 29: Binance Alpha lists Haedal Protocol (HAEDAL).
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April 30: U.S. April ADP employment data; U.S. Q1 annualized GDP growth rate (preliminary); U.S. March core PCE data; Frax Finance North Star upgrade, Frax Share to be renamed Frax and serve as gas token; KMNO unlock (16.98% of circulating supply, ~14.5M)；REZ unlock(19.57% of circulating supply, ~7.4M); TOKEN 2049 Dubai (April 30–May 1); Microsoft, Meta earnings.
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May 1: U.S. April S&P Global Manufacturing PMI (final); U.S. April ISM Manufacturing PMI; SUI unlock (2.28% of circulating supply, ~$267M); Bank of Japan target rate decision; Apple, Amazon earnings.
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May 2: U.S. April non-farm payrolls, unemployment rate; Berkshire Hathaway Annual Shareholders Meeting.
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