TRUMP’s Tariff Takedown: Will Bitcoin Survive the Chaos?

TRUMP‘s Tariff Takedown: Will Bitcoin Survive the Chaos? 🚨

Oh dear, it’s another day, another dollar, another Trump tweet that’s sending markets into a tailspin! 🤯 As the President’s so-called “Liberation Day” arrives, the world holds its breath, waiting to see which country will be the next to get hit with tariffs. And, of course, the cryptocurrency market is right there with it, wondering if Bitcoin will be the next to get trampled. 🚨

But fear not, dear investors! Bitcoin is being its usual resilient self, trading little changed on the day and holding above $85,000. 🚀 It’s like the cryptocurrency is saying, “Pffft, tariffs? I’ve seen worse.” 💁‍♀️

Meanwhile, the “Magnificent 7” tech stocks are all having a bit of a meltdown, with Apple down 17%, Microsoft 22%, Amazon 24%, Meta 25%, Google 26%, NVIDIA 32%, and Tesla 50%. 🤯 It’s like they’re all saying, “Oh no, we’re going to get hit with tariffs too! What do we do?!” 😱

But wait, there’s more! The Atlanta Fed’s GDPNow model is projecting a first-quarter contraction of -3.7% for U.S. real GDP. 📉 That’s a dramatic downward revision from earlier estimates, and it’s like the whole world is saying, “Uh-oh, recession ahead!” 😱

So, what’s an investor to do? 🤔 Well, for starters, you could try to stay calm and carry on. 🙏 After all, as the great philosopher, Dolly Parton, once said, “If you want the rainbow, you gotta put up with the rain.” ☁️

Or, you know, you could just invest in Bitcoin. 🤑 It’s like the ultimate “what’s the worst that could happen?” investment. 🤷‍♀️

Token Talk

By Shaurya Malwa

President Donald Trump’s TRUMP memecoin is set to unlock 40 million tokens — or 20% of the circulating supply — on April 17, according to Solana Floor. 🤑 That’s a lot of tokens, folks! 🤯 And, let’s be real, it’s not like Trump’s political brand is going to hurt the token’s price or anything. 😂

Token unlocks often lead to short-term price drops due to increased supply, as seen with other cryptocurrencies such as Aptos (APT), which fell 26% in 30 days after a June 2024 unlock. 📉 But, hey, at least the token might see buying activity after the unlock, right? 🤑

Derivatives Positioning

Perpetual funding rates for major tokens, including BTC and ETH, are barely positive near annualized rates of 1% to 3%. 🤑 That’s like, a big fat zero, folks! 🤯 And, most major coins are exhibiting negative cumulative volume deltas, a sign of net selling pressure. 📉 It’s like the whole market is saying, “Uh-oh, we’re in trouble!” 😱

Market Movements

BTC is down 0.21% from 4 p.m. ET Tuesday at $85,063.12 (24hrs: +1.19%) 🤑 ETH is down 1.75% at $1,879.84 (24hrs: +0.48%) 🤑 CoinDesk 20 is down 0.56% at 2,559.88 (24hrs: -0.07%) 🤑

Bitcoin Stats

BTC Dominance: 62.68 (0.21%) 🤑 Ethereum to bitcoin ratio: 0.02211 (-1.16%) 🤑 Hashrate (seven-day moving average): 819 EH/s 🤑 Hashprice (spot): $47.62 🤑

Technical Analysis

The chart shows the total market capitalization of all cryptocurrencies excluding market leaders bitcoin and ether. 🤑 The value is holding on to a bullish trendline sloping upward from August and November lows. 🤑 A strong bounce from the trendline would signal a resumption of the broader rally. 🚀

Crypto Equities

Strategy (MSTR): closed on Tuesday at $306.02 (+6.16%), down 1.31% at $302 in pre-market 🤑 Coinbase Global (COIN): closed at $174.52 (1.33%), down 0.88% at $172.99 🤑

ETF Flows

Spot BTC ETFs:

* Daily net flow: -$157.8 million

* Cumulative net flows: $36.11 billion

* Total BTC holdings ~ 1.12 million.

Spot ETH ETFs

* Daily net flow: -$3.6 million

* Cumulative net flows: $2.42 billion

* Total ETH holdings ~ 3.41 million.

Overnight Flows