Bitcoin, stocks crumble after ‘90 day tariff pause’ deemed fake news — BTC whales keep accumulating
Global financial markets continued to tumble on April 7, as US equities dropped more than 3%, wiping more than $2 trillion in value on market open. The pullback saw the S&P 500 drop 2.79%, with the index officially entering a bear market, following a 20% decline from its recent all-time highs.However, the SPX momentarily rallied by 6% after a rumor began to spread on X that US President Donald Trump was contemplating a 90-day tariff pause. Bitcoin (BTC) price also rallied above $80,000, but after 30 minutes of positive price action, the White House confirmed that the rumor was not true. Source: XThe S&P 500 is currently in positive territory for the day. Still, despite this uptick, the sustainability of the recovery remains uncertain as bearish undercurrents remain the same as before the tariff-pause rumor started to circulate.In Asia trading sessions, where economies heavily depend on favorable global trade, stock markets plummeted. Hong Kong’s equity index suffered a staggering 13% drop, marking its worst performance since the Asian financial crisis. Major indexes in Shanghai, Taipei, and Tokyo also saw sharp declines, ranging from 7% to 10%.In fact, the Nikkei 22 futures suspended trading after it hit circuit breakers during its session. Tensions continued to escalate between the US and China after President Trump confirmed an additional 50% tariff on Chinese exports on April 9 if the country did not withdraw its initial 34% tariffs on the US by April 8. Related: Bitcoin price retakes $80K as US stocks avoid ‘Black Monday’ meltdownBitcoin hits yearly lows, but BTC whales are accumulatingAfter initially demonstrating a decoupling from the US indexes on April 3 and April 4, Bitcoin price dipped 6.5% over the weekend and dropped to new yearly lows at $74,457 on April 7. This is Bitcoin’s lowest price since Nov. 7, with speculators expecting further drawdowns in the charts. Julio Moreno, head of research at CryptoQuant, said, “Don’t catch the falling knife. Conditions have not improved for Bitcoin yet. Only one bull signal is on in the Bull Score Index.”On a positive note, Glassnode data revealed that BTC whales (holding over 10,000 BTC) are intensifying accumulation while smaller holders continue to distribute. The Accumulation Trend Score for whales briefly hit a perfect 1.0 around April 1, reflecting a 15-day buying spree—the most significant since late August 2024. Trend Accumulation Score by Bitcoin holders. Source: X.comSince March 11, whales have added 129,000 BTC, scoring at 0.65, indicating steady accumulation. Meanwhile, cohorts holding less than 1 BTC to 100 BTC have shifted to distribution, with scores dropping to 0.1–0.2 for most of 2025. This trend aligns with Bitcoin finding support at $74,000, a level backed by over 50,000 BTC held by investors dormant since March 10. Meanwhile, Axel Adler Jr., a Bitcoin researcher, also pointed out that the supply dynamics metric indicates that the new Bitcoin supply is currently outpacing the annual change in active coins. A positive uptick indicates growing demand or accumulation in the market, and historically, such increases in this metric have coincided with Bitcoin price recoveries.Bitcoin yearly supply change and new coins. Source: Axel Adler Jr. Related: Was Bitcoin price drop to $75K the bottom? — Data suggests BTC to stocks decoupling will continueThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Metaplanet repays 2B yen bonds early, CEO comments on BTC ‘down days’
Metaplanet, a Japanese hotel manager turned Bitcoin treasury company, has fully repaid 2 billion yen ($13.5 million) worth of bonds ahead of schedule as it seeks to shore up its financial position.Metaplanet conducted an early redemption of its 9th Series of Ordinary Bonds on April 4, more than five months before the maturity date, the company disclosed on April 7. The zero-interest bonds were issued in March through Metaplanet’s Evo Fund and used to acquire additional Bitcoin (BTC). Since the bonds carry zero interest, the repayment would not have a material impact on the company’s fiscal 2025 results, it said.Source: MetaplanetMetaplanet, which trades publicly on the Tokyo stock exchange, has made Bitcoin the center of its corporate strategy through a series of acquisitions. The company’s Bitcoin balance has swelled to 4,206 BTC, placing it among the top 10 publicly traded holders. The acquisitions are part of a broader strategy disclosed in January that could see Metaplanet purchase up to 21,000 BTC by the end of 2026. At the time, the company said it planned to raise more than $700 million to help fund its Bitcoin buying spree. Related: Metaplanet share price rises 4,800% as company stacks BTCCEO comments on Bitcoin price action Metaplanet has seemingly embraced Bitcoin’s volatility, having adopted a buy-the-dip mentality to acquire more of the digital asset. Over the weekend, Metaplanet CEO Simon Gerovich called Bitcoin’s volatility “a natural part of an asset that is truly rare, diversified, and has long-term potential,” according to a translated version of his social media post. Source: Simon GerovichBitcoin’s price is under renewed pressure as part of a global sell-off in risk assets stemming from US President Donald Trump’s “Liberation Day” tariff announcement last week. The BTC price plunged below $80,000 on April 7, according to Cointelegraph Markets Pro.Bitcoin’s performance mirrors broader declines in US stocks, with the benchmark S&P 500 Index losing $5 trillion over two trading sessions. Magazine: Bitcoin heading to $70K soon? Crypto baller funds SpaceX flight: Hodler’s Digest, March 30 – April 5
How to use Render Network for decentralized GPU rendering
Key takeawaysRender Network connects GPU owners with creators, allowing users to rent idle graphics power for AI training, 3D rendering and crypto-related projects.The RNDR token powers the ecosystem, enabling fast, transparent and decentralized transactions between creators and node operators.Decentralized rendering is more accessible and cost-effective than traditional centralized GPU services, solving issues such as pricing, scalability and vendor lock-in.Proof-of-render ensures verified outputs, rewarding only completed, validated tasks while maintaining blockchain-level trust and transparency.The hunger for powerful graphics processing units (GPUs) has skyrocketed. Whether it’s training complex AI models or rendering high-fidelity 3D graphics, the demand often outstrips supply.Traditional centralized GPU services, while effective, can be costly and sometimes inaccessible to smaller developers or artists. This is where the Render Network steps in, offering a decentralized approach to GPU rendering.By connecting individuals who have idle GPU power with those who need it, Render Network creates a collaborative ecosystem that benefits both parties. This not only democratizes access to high-performance computing but also introduces a crypto-economic model, utilizing its native RNDR token to facilitate transactions.In the sections that follow, you’ll learn how Render Network is contributing to the evolution of AI development and 3D rendering through decentralization and blockchain technology.What is Render Network?At its core, Render Network is like an Airbnb for GPU power. If you’ve got a powerful graphics card sitting idle, you can rent it out. And if you’re someone building an AI model or rendering a complex 3D scene but don’t have enough GPU muscle, you can tap into that unused power — on demand.Here’s how it works:CreatorsThese are the people who need serious computing power — think AI researchers training models, 3D artists rendering animations or developers working on visually demanding projects. Instead of buying expensive hardware or paying top dollar for centralized cloud services, they can just hop on Render Network and get access to what they need when they need it.Node operatorsOn the flip side, there are folks who have GPUs collecting dust (or at least not being fully used). Maybe it’s a gaming rig that’s idle during work hours or a small mining setup looking for a better use case. These operators can plug into Render Network, offer up their GPU power, and earn crypto — specifically RNDR tokens — for their trouble.RNDR tokenThe RNDR token (RNDR) is the fuel that keeps this whole ecosystem running. It’s the currency used to pay for jobs on the network. Creators pay in RNDR; operators earn in RNDR. Everything happens transparently onchain, and the token system helps keep things fair and efficient.In short: Creators get access to affordable, decentralized computing power; node operators get rewarded for sharing their resources; and RNDR tokens make it all tick. It’s a win-win setup that’s especially useful in AI and crypto-heavy workflows.Did you know? Render Network employs blockchain technology to ensure that every transaction and rendering task is securely recorded, promoting transparency and trust among users.The role of decentralization in GPU renderingIf you’ve ever tried renting GPU power from a big cloud provider, you know it can get expensive fast. And even then, you’re often competing with major corporations for access to the best hardware. The whole system works, sure, but it’s not exactly built with flexibility or accessibility in mind.That’s where decentralization comes in. Render Network flips the script by spreading the workload across a global network of independent GPU owners. Instead of relying on a single provider, you’re tapping into thousands of available machines — from gaming rigs to pro-grade render farms — that might otherwise sit idle.What’s the problem with centralized GPU rendering?Centralized services come with a few key headaches:It’s pricey: Renting powerful GPUs from the likes of Amazon Web Services or Google Cloud can eat through your budget quickly, especially if you’re running long jobs like training an AI model.Scalability is limited: If you suddenly need more power, scaling up isn’t always smooth or instant. You’re stuck waiting in line — or paying more for priority access.Access isn’t equal: Big corporations tend to hoard the best GPU availability, which makes it harder for smaller teams or indie creators to get what they need when they need it.Vendor lock-in is real: Once you build your pipeline around one provider, switching later can be a pain (and expensive).Why decentralization makes more senseNow, here’s what a decentralized network like Render offers instead:Lower costs: Because you’re tapping into existing resources that would otherwise be unused, pricing tends to be way more affordable.Flexible scaling: Need more power? The network can grow with you — just pull in more nodes.Equal access: There’s no gatekeeping. Anyone can request GPU resources, and anyone can provide them. It’s a much more level playing field.Earn while you sleep: If you’ve got a powerful GPU, you can make it work for you by sharing it on the network when you’re not using it.All in all, decentralized GPU rendering is quickly becoming the practical choice for AI builders, 3D artists and crypto-native developers who want more control over their tools and budget.The crypto economy within Render NetworkAs you briefly explored, at the heart of Render Network’s decentralized rendering platform is its native cryptocurrency, the RNDR token. Let’s dive deeper. RNDR token mechanicsThe RNDR token serves as the primary medium of exchange within the Render Network. Creators use RNDR tokens to pay for rendering services, while node operators earn these tokens by providing their GPU power to process rendering tasks. This system creates a self-sustaining economy where computational resources are efficiently allocated and fairly compensated. Additionally, a small percentage of RNDR tokens, ranging from 0.5% to 5%, is charged on every transaction to support the ongoing development and maintenance of the network.Earning RNDR tokensOnce onboarded, node operators can connect their GPUs to the network and start accepting rendering jobs. After successfully completing and submitting a rendering task, the work undergoes verification to ensure quality standards are met. Upon approval, the corresponding RNDR tokens are transferred to the node operator’s digital wallet as compensation for their contribution.Spending RNDR tokensCreators looking to access rendering services can acquire RNDR tokens through various cryptocurrency exchanges. Once they have the tokens, they can submit their rendering projects to the network. The system calculates the required RNDR tokens based on the project’s complexity and resource demands. After the rendering is completed and the output meets the creator’s expectations, the RNDR tokens are released from escrow and transferred to the node operators who processed the job.This token-based economy not only streamlines the transaction process within the Render Network but also fosters a collaborative environment where both creators and node operators benefit from the decentralized exchange of rendering services.Did you know? Render Network utilizes a unique proof-of-render mechanism, which validates completed rendering tasks before compensating node operators. This system mirrors blockchain’s transaction validation processes, ensuring that only verified work is rewarded.Getting started with Render NetworkHere’s how to get started with Render Network.For creatorsSetting up an account and submitting rendering tasks require the following:Obtain an OctaneRender license: Ensure you have an active OctaneRender license or subscription, which can be purchased from OTOY.Access the Creator Portal: With your OctaneRender credentials, log in to the Creator Portal.Prepare your project: Export your project as an ORBX file using OctaneRender. This format encapsulates all necessary assets and settings for rendering.Submit your job: Upload the ORBX file to the Creator Portal, configure your rendering parameters (such as resolution and sample size), and choose a service tier that fits your needs.Monitor and retrieve results: Once submitted, you can monitor the progress of your rendering tasks through the portal. Upon completion, download your rendered assets directly from the platform.For node operatorsRegistering GPUs on the network requires:Express interest: Complete the Render Network Interest Form to join the onboarding queue.Await onboarding instructions: Once a slot becomes available, the Render Network team will provide further instructions for setting up your node.By following these steps and best practices, both creators and node operators can effectively engage with the Render Network, leveraging its decentralized infrastructure for efficient rendering solutions.A bright future for Render Network?Render Network is quickly becoming a go-to solution for anyone needing serious GPU power — especially in AI and crypto. Decentralizing access to high-performance computing makes rendering and model training faster, cheaper and way more accessible.What’s exciting is where it’s headed. The network is expanding to support more advanced AI workflows and exploring deeper integration with other blockchain ecosystems. That means more tools, more flexibility and even broader use cases — whether you’re building with AI, working in 3D or developing onchain applications.At the end of the day, Render Network is creating a new kind of infrastructure where creators and GPU owners can work together, earn and scale. Whether you’re here to build or contribute, it could be a space worth jumping into.
Crypto plunges as Trump tariff 'medicine' brutalizes global stock markets
Cryptocurrency prices tumbled as the US stock futures market opened sharply lower on April 6 as the Trump administration doubled down on its global tariff strategy.The Trump administration hit all countries with a 10% tariff starting April 5, with some slapped at higher rates, including China at 34%, the European Union at 20%, and Japan at 24%.Bitcoin (BTC) dropped over 6% in the last 24 hours and was trading around $77,883. Meanwhile, Ether (ETH) shed over 12% in the same time frame and was trading at $1,575, according to CoinGecko. The total crypto market cap dropped over 8% to $2.5 trillion. Prices have clawed back some losses since. Bitcoin has recovered 1.4% to $78,500. Meanwhile, Ether regained $1,594.Source: Autism CapitalAt the same time, the Crypto Fear & Greed Index, which measures market sentiment for Bitcoin and other cryptocurrencies, returned a score of 23 in its latest April 7 update, which is considered extreme fear.In a statement, Charlie Sherry, head of finance at Australian crypto exchange BTC Markets, said the drop is unsurprising because global markets are generally more illiquid on Sundays.“As a result, a few large sell-offs can have a disproportionate impact, pushing prices down quickly,” he said. “There’s no mystery behind the trigger: President Trump’s recent tariff talk has rattled macro markets, with global trade relations suddenly looking uncertain.” Some traders, however, predict a Bitcoin breakout could be around the corner. BitMEX co-founder Arthur Hayes has also speculated that while the tariffs are rattling markets, they could result in a Bitcoin rally. The US Stock Futures market has also opened down. Futures tied to the S&P 500 dropped nearly 4%, according to Google Finance. Meanwhile, the tech-heavy Nasdaq lost, and the Dow Jones Industrial Average futures sank by over 8%. Trading resource the Kobeissi Letter said in an April 6 post to X that the drop in US stock market futures puts S&P 500 futures in ”bear market territory,” adding that the US stock market has now erased an average of $400 billion per trading day for the last 32 days. Source: Kobeissi LetterTom Dunleavy, a managing partner at venture capital firm MV Global, said it could be the “worst three-day move for US stocks of all time” if “tonight’s futures hold.” Trump Administration doubles down on tariffsCrypto-friendly billionaire investor Bill Ackman speculates that US President Donald Trump could postpone the tariffs to allow countries to make counteroffers or deals.In an April 6 statement on his social media platform, Truth Social, Trump doubled down on the tariffs, saying the US has massive financial deficits with China, the European Union and many others, which the levies will solve.Related: ‘National emergency’ as Trump’s tariffs dent crypto prices“The only way this problem can be cured is with TARIFFS, which are now bringing tens of billions of dollars into the USA. They are already in effect, and a beautiful thing to behold,” he said.He also told reporters aboard Air Force One that he wasn’t intentionally trying to cause a market sell-off but added that “sometimes you have to take medicine to fix something.” At the same time, US National Economic Council Director Kevin Hassett said in an April 6 interview with ABC’s This Week program that more than 50 countries have reached out to the president to negotiate fresh trade deals.“They’re doing that because they understand that they bear a lot of the tariff,” he said. US Treasury Secretary Scott Bessent urged US trading partners in an April 2 interview with Bloomberg against taking retaliatory steps, arguing “this is the high end of the number” for tariffs if they don’t try to add more levies in response. Magazine: Financial nihilism in crypto is over — It’s time to dream big again
Bitcoin falls below $80K — Will PI, OKB, GT and ATOM outperform BTC and altcoins?
Last week, Bitcoin (BTC) began showing early signs of decoupling from the US stock markets. Bitcoin was relatively flat over the week, while the S&P 500 plunged by 9%. The sell-off was triggered following US President Donald Trump’s April 2 global tariff announcement, which escalated further on April 4 as China retaliated with new tariffs on US goods. Even gold was not spared and was down 1.9% for the week.Alpine Fox founder Mike Alfred highlighted in a post on X that a gold bull market is bullish for Bitcoin. During previous cycles, gold led Bitcoin for a short while, but eventually, Bitcoin caught up and grew 10 times or more than gold. He added that it would not be any different this time.Crypto market data daily view. Source: Coin360Although the short-term outperformance of Bitcoin is an encouraging sign, traders should remain cautious until further clarity emerges on the macroeconomic front. If the US stock markets witness another round of selling, the cryptocurrency markets may also come under pressure.A handful of altcoins are showing strength on the charts, but waiting for the overall sentiment to turn bullish before jumping could be a better strategy. If Bitcoin breaks above its immediate resistance, what are the top cryptocurrencies that may follow it higher?Bitcoin price analysisBitcoin bulls have failed to push the price above the resistance line, but they have not ceded much ground to the bears. This suggests that the bulls have kept up the pressure.BTC/USDT daily chart. Source: Cointelegraph/TradingViewThe 20-day exponential moving average ($84,241) is flattening out, and the relative strength index (RSI) is just below the midpoint, signaling a balance between supply and demand.This advantage will tilt in favor of the bulls on a break and close above the resistance line. There is resistance at $89,000, but if the level gets taken out, the BTC/USDT pair could ascend toward $100,000.The $80,000 is the vital support to watch out for on the downside. If this level cracks, the pair could plummet to $76,606 and then to $73,777.BTC/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe pair has been consolidating between $81,000 and $88,500. The moving averages on the 4-hour chart are sloping down marginally, and the RSI is just below the midpoint, signaling the continuation of the range-bound action in the near term. If buyers push the price above $85,000, the pair could rally to $88,500. This level could attract sellers, but the pair may jump to $95,000 if the bulls prevail. The bears will be back in the driver’s seat if the price breaks below the $81,000 to $80,000 support zone. The pair may then dump to $76,606.Pi Network price analysisPi Network (PI) has been in a strong downtrend since topping out at $3 on Feb. 26. The relief rally on April 5 shows the first signs of buying at lower levels.PI/USDT daily chart. Source: Cointelegraph/TradingViewAny recovery is expected to face selling at the 20-day EMA (0.85), which remains the key short-term level to watch out for. If the PI/USDT pair does not give up much ground from the 20-day EMA, it indicates that the bulls are holding on to their positions. That opens the doors for a rally above the 20-day EMA. The pair could then jump to the 50% Fibonacci retracement level of $1.10 and next to the 61.8% retracement level of $1.26.The $0.40 level is the critical support on the downside. A break and close below $0.40 could sink the pair to $0.10.PI/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe 4-hour chart shows that the bears are defending the 50-simple moving average, but a minor positive is that the bulls are trying to keep the pair above the 20-EMA. If the price rebounds off the 20-EMA, the bulls will attempt to kick the pair above $0.80. If they do that, the pair could travel to $1.20.On the contrary, a break and close below the 20-EMA suggests that the bears have kept up the pressure. The negative momentum could pick up on a break below $0.54. The pair may then retest the vital support at $0.40.OKB price analysisOKB (OKB) turned up sharply on April 4 and closed above the moving averages, indicating that the bulls are attempting a comeback.OKB/USDT daily chart. Source: Cointelegraph/TradingViewThe up move continued, and the bulls pushed the price above the short-term resistance at $54 on April 6. The OKB/USDT pair could reach the resistance line of the descending channel, which is likely to attract sellers. If the price turns down sharply and breaks below $54, the pair may oscillate inside the channel for a few more days.On the other hand, if buyers do not give up much ground from the resistance line, it increases the likelihood of a break above the channel. The pair could climb to $64 and then to $68.OKB/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe pair will complete an inverted head-and-shoulders pattern on a break and close above the neckline. The up move may face selling at the resistance line, but on the way down, if buyers flip the neckline into support, it increases the possibility of a break above the resistance line. If that happens, the pair could start its march toward the pattern target of $70.Sellers will have to fiercely defend the neckline and quickly pull the price below the 20-EMA to prevent the rally. The pair may drop to the 50-SMA and thereafter to $45.Related: Solana TVL hits new high in SOL terms, DEX volumes show strength — Will SOL price react?GateToken price analysisGateToken (GT) has been finding support at the 50-day SMA ($22.05) for a few days, which is an important level to watch out for.GT/USDT daily chart. Source: Cointelegraph/TradingViewThe flattish moving averages and the RSI just below the midpoint do not give a clear advantage either to the bulls or the bears. A break and close above $23.18 could push the price to $24. This remains the key overhead resistance for the bears to defend because a break above it could catapult the GT/USDT pair to $26.This positive view will be invalidated in the short term if the price breaks and maintains below the 50-day SMA. The pair may sink to $21.28 and then to $20.79.GT/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe pair turned down from the resistance line of the descending channel pattern, indicating selling on rallies. The break below the moving averages suggests the pair may remain inside the channel for some more time.Buyers will gain the upper hand on a break and close above the resistance line. Such a move suggests that the corrective phase may be over. The pair could rally to $23.18 and then to $24.Cosmos price analysisCosmos (ATOM) is trying to form a bottom but is facing selling at $5.15. A minor positive in favor of the bulls is that they have not allowed the price to break below the moving averages.ATOM/USDT daily chart. Source: Cointelegraph/TradingViewIf the price rebounds off the moving averages with force, it signals buying on dips. That improves the prospects of a break above the $5.15 resistance. If that happens, the ATOM/USDT pair could surge toward $6.50 and then to $7.17.Contrarily, a break and close below the moving averages suggests a possible range formation in the near term. The pair could swing between $5.15 and $4.15 for a while. Sellers will be back in command on a slide below $4.15.ATOM/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe bulls and the bears are witnessing a tough battle at the 20-EMA on the 4-hour chart. If the price remains below the 20-EMA, the pair could tumble to the 50-day SMA and later to $4.15. Buyers are expected to fiercely defend the $4.15 level.Instead, if the price stays above the 20-day EMA, it signals solid demand at lower levels. The bulls will then try to push the pair to $5.15. A break and close above this resistance could start a new up move.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Bitcoin ‘decouples,’ stocks lose $3.5T amid Trump tariff war and Fed warning of ‘higher inflation’
As stock markets crumbled for a second day on April 4, US Federal Reserve Chair Jerome Powell said that the Trump administration’s “reciprocal tariffs” could significantly affect the economy, potentially leading to “higher inflation and slower growth.”Addressing the public at a conference on April 4, Powell maintained a cautious approach and noted that tariffs could spike inflation “in the coming quarters,” complicating the Fed’s 2% inflation target, just months after rate cuts indicated a soft landing. Powell said,“While tariffs are highly likely to generate at least a temporary rise in inflation, it is also possible that the effects could be more persistent.” Moments before Powell’s speech, US President Donald Trump called out the Fed chair to “CUT INTEREST RATES” in a post on the Truth Social, taking a jab at Powell for being “always late.”Source: Truth SocialCurrently, the Fed faces a critical choice: pause interest rate cuts throughout the year or respond quickly with rate reductions if the economy shows signs of weakening. While the Fed official noted that the economy is in a good place, Powell said that it was, “Too soon to say what will be the appropriate path for monetary policy,”On April 4, the unemployment rate also increased to 4.2% in March from 4.1% in February, but on the contrary, March’s Non-Farm Payrolls added 228,000 jobs, which exceeded expectations and reinforced economic strength. In March, the Consumer Price Index (CPI) also rose by 2.8% year over year, with March data due on April 10. The above figures highlight a strong labor market but nagging inflation concerns, thus aligning with Powell’s warning about potential tariff impacts. Related: Bitcoin bulls defend $80K support as ‘World War 3 of trade wars’ crushes US stocksPowell’s caution on higher inflation and slowing economic growth came on the same day that the DOW dropped 2,200 and a 10% two-day loss from the S&P 500. X-based markets resource ‘Watcher Guru’ announced that, “$3.25 trillion wiped out from the US stock market today. $5.4 billion was added to the crypto market.” Stock market losses hit $3.5 trillion. Source: Watcher Guru / X Bitcoin to entertain further volatilityMost investors anticipate that in the short term, Bitcoin (BTC) could see a surge in volatility. Powell’s remarks about tariffs driving “higher inflation” and possibly “higher unemployment” could rattle traditional market investors, prompting a pivot to BTC.In fact, analysts have pointed out that BTC price appears to be “decoupling” from stocks recent downturn. Although Bitcoin hit a 9-day high on April 2 before President Trump rolled out his “reciprocal tariffs” on “Liberation Day,” the price sold off sharply once the tariffs were revealed at a White House presser. Since then, Bitcoin has held steady above the $82,000 level, and as US equities markets collapsed on April 4, BTC rallied to $84,720, reflecting price action, which is uncharacteristic of the norm. BTC/USD price versus major stock indices. Source: X / Cory BatesIndependent market analyst Cory Bates posted the above chart and said, “[…]Bitcoin is decoupling right before our eyes.” With China retaliating with 34% tariffs on US goods and Trump pressuring Powell to cut interest rates, market volatility could push Bitcoin’s price upward as a hedge against uncertainty. During the 2018 U.S.-China trade war, Bitcoin price didn’t see any increase across the entire year. However, it experienced notable volatility and a 15% price rise when the trade war escalated in mid-2018, with the US imposing tariffs on Chinese goods in July, followed by retaliatory measures from China. Related: Bitcoin sentiment falls to 2023 low, but ‘risk on’ environment may emerge to spark BTC price rallyThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Stablecoin firm Circle mulls IPO delay amid economic uncertainty — Report
Stablecoin firm Circle, the issuer of the USDC (USDC) dollar-pegged token, is reportedly mulling a delay of its initial public offering (IPO) plans amid the macroeconomic uncertainty created by the Trump administration’s trade policies. According to The Wall Street Journal, “Circle had been nearing its next steps in going public, but is now watching anxiously before deciding what to do,” and joins a growing list of companies considering IPO delays, including fintech company Klarna and ticketing firm StubHub.On April 1, Circle filed an S-1 registration form with the United States Securities and Exchange Commission (SEC) to take the company public in an IPO originally slated for April 2025.Circle’s S-1 form for an IPO. Source: SECThe stablecoin firm is planning to sell shares of the company under the ticker symbol “CRCL,” but Circle’s prospectus materials have not yet outlined details of the number of shares offered or the initial stock price.Circle delaying its IPO comes amid turmoil in the stock market as trillions in shareholder value dissipated following US President Donald Trump’s April 2 announcement of sweeping trade tariffs and investor fears that a protracted trade war could cause a global recession.Related: Trump ‘Liberation Day’ tariffs create chaos in markets, recession concerns
Codex to build stablecoin-only blockchain, disavowing ‘general-purpose’ chains — Report
Blockchain startup Codex has raised $15.8 million to build a layer-2 network specifically for stablecoins, signaling that more builders are rushing to capitalize on the growing industry and regulatory alignment around fiat-backed stable assets. The seed round was led by Dragonfly Capital, with additional participation from Coinbase, Circle, Cumberland Labs, Wintermute Ventures and others, Codex told Fortune. The funding will be used to help Codex build its stablecoin-only platform from the ground up, said co-founder and CEO Haonan Li.Source: Victor YawCodex has disavowed “general-purpose blockchains” because of their inefficiencies in meeting real-world use cases, said Li. Instead, Codex is building a stablecoin-only chain on top of Optimism, an Ethereum layer-2 scaling solution that uses rollup technology to boost transaction speeds and lower costs.Although details about the Codex chain were sparse, Li said the stablecoin solution aims to create a predictable fee structure that isn’t influenced by volatile blockchain activity. Codex is also aiming to build stablecoin off-ramps with existing cryptocurrency exchanges and local brokers, which would allow users to cash out their onchain assets for fiat. Related: Stablecoin adoption grows with new US bills, Japan’s open approachThe stablecoin “hunch” In 2023, Li had a “hunch” that stablecoins would be the next major blockchain growth story, which at the time “was a pretty contrarian view among these core crypto people,” he told Fortune. Codex co-founder Victor Yaw said the stablecoin market has grown 60 times in the last six years, but still only accounts for less than 2% of offshore US dollar deposits. “We haven’t even scratched the surface,” he said.Stablecoin demand has shown signs of resilience, growing in the face of adverse crypto market conditions. Although crypto markets plunged in the first quarter, stablecoin supplies increased by $30 billion during that period, according to crypto intelligence firm IntoTheBlock. The total stablecoin market capitalization now sits at nearly $230 billion. The vast majority of stable assets are backed by US dollars. The stablecoin circulating supply has grown by nearly 3% over the past 30 days. Source: RWA.xyzCodex isn’t the only stablecoin network to emerge from stealth this year. In January, a layer-1 network called 1Money raised $20 million to further develop its stablecoin payment platform. 1Money’s founder and former Binance.US chief Brian Shroder told Cointelegraph that the future of stablecoins will be “multicurrency,” with stable assets extending beyond the dominant US dollar. Growth beyond the US dollar will likely be fueled by “demand for localized stablecoin financial solutions and use cases,” said Shroder. Related: ‘We’re bullish on stablecoins,’ next-gen DeFi — Coinbase Ventures head
Bitcoin sentiment falls to 2023 low, but ‘risk on’ environment may emerge to spark BTC price rally
Bitcoin (BTC) sits in one of its least bullish phases since January 2023. According to Bitcoin’s “bull score index,” investor sentiment is showing its lowest reading in two years. Bitcoin bull score index. Source: CryptoQuantCryptoQuant’s “Crypto Weekly Report” newsletter explained that “bull score index” readings that sit below 40 for extended periods increase the likelihood of a bear market. The bull score remained above 40 throughout 2024, only dipping below this threshold in February 2025, as identified in the chart above. However, over the past 24 hours, Bitcoin price has displayed resilience when compared against the massive losses seen in the US stock market. On April 3, Bitcoin closed the day with a green candle, while the S&P 500 was down 4.5%, a historic first. The S&P 500 and Dow Jones extended their decline on April 4, dropping 3.87% and 3.44%, respectively, while Bitcoin held steady near the breakeven point. Related: Arthur Hayes loves tariffs as printed money pain is good for BitcoinIs Bitcoin near a risk-on phase?Data from CryptoQuant indicates that Bitcoin’s Value Days Destroyed (VDD) metric currently sits around 0.72, suggesting that Bitcoin price is in a transitional phase. Since 2023, such periods have preceded either price consolidation or renewed accumulation before a bullish breakout.Bitcoin value days destroyed. Source: CryptoQuantThe Bitcoin VDD metric tracks the movement of long-term held coins, and it has signaled a notable market trend since late 2024. The metric peaked at 2.27 on Dec. 12, signaling aggressive profit-taking and this dynamic matched the highs seen in 2021 and 2017. However, VDD dropped to 0.65 in April, reflecting a cooling-off period where profit-taking has subsided. This opens the possibility of a “risk-on” market for Bitcoin. In financial terms, a “risk-on” scenario occurs when investors embrace higher-risk assets like cryptocurrencies, often driven by optimism and mean reversions in trends. Amid ongoing market uncertainty that has been fueled by the US-led trade war, Bitcoin could unexpectedly gain from these tense conditions. Speaking on Bitcoin and the crypto market’s potential as a hedge against traditional market volatility, crypto trader Jackis said, “A reminder, this is not a crypto-driven drop but an overall risk-on, tariff, trade war-driven drop. While all of that is unfolding, it seems that crypto has likely undergone most of its downside already and has been lately absorbing all of the selling well.”Similarly, the Crypto Fear & Greed Index also exhibited a “fear” category with a score of 28 on April 4. The index registered an “extreme fear” score of 25 on April 3, suggesting that the current price may present a compelling buying opportunity.Crypto Fear & Greed Index. Source: alternative.meRelated: 10-year Treasury yield falls to 4% as DXY softens — Is it time to buy the Bitcoin price dip?This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
CEX listings outperform Nasdaq and Dow IPOs with 80% average returns
Cryptocurrency listings have outperformed the average of traditional stock listings, despite recent community criticism regarding the manipulation potential of token listings on centralized exchanges.Token listing procedures on centralized cryptocurrency exchanges (CEXs) drew significant controversy after Changpeng “CZ” Zhao, co-founder and former CEO of Binance, called the process flawed after disappointing performances of some token listings.Despite the criticism, crypto exchanges have outperformed traditional stock exchanges in terms of listings with positive returns on investment (ROI) and average ROI, according to an April 3 CoinMarketCap report shared exclusively with Cointelegraph.Over the past 180 days, crypto exchange listings had an average return of over 80%, outperforming the largest traditional stock indexes such as the Nasdaq and Dow Jones, as well as Bitcoin (BTC) and Ether (ETH).CEX listings, top indexes, average ROI. Source: CoinMarketCapThe 80% return refers to the average performance of all listed tokens by the seven major exchanges, including Binance, Bybit, Coinbase, OKX, Bitget, Gate and KuCoin.Moreover, 68% of crypto exchange listings boasted a positive ROI, outperforming the New York Stock Exchange’s (NYSE) 54% and the Nasdaq’s 51%.Source: CoinMarketCap“This data suggests that crypto exchanges have made progress in refining their listing,” the report said.Related: 70% chance of crypto bottoming before June amid trade fears: NansenCryptocurrencies listed on CEXs generally see high demand from investors as the exchanges provide significant new liquidity that can boost the coins’ price performances after listing.Token-listing criteria on CEXs started garnering attention in November 2024, after Tron founder Justin Sun claimed that Coinbase allegedly asked for $330 million in total fees to list Tron (TRX), a surprising allegation since Coinbase claims to charge no fees for listing new cryptocurrencies.Related: Trump-linked crypto ventures may complicate US stablecoin policyToken listing performance still depends on broader market conditions: BinanceRecent investor disappointment with some token listings may stem from historic profit expectations due to the significant upside of numerous CEX-listed tokens.Still, the returns of a cryptocurrency after listing depend on the wider market appetite, a Binance spokesperson told Cointelegraph, adding:“Outcomes can vary depending on broader market conditions. As the industry matures, we’re seeing reduced volatility compared to earlier cycles — a shift that reflects greater stability and long-term sustainability in the crypto market.”“Crypto investors’ expectations for new listings to perform well are understandable and often shaped by the historic success” of CEX listings, added the spokesperson.Binance, the world’s largest crypto exchange, listed 77 cryptocurrencies throughout 2023 and 2024, with a 0% delisting rate.Binance announced a community voting mechanism for token listings on March 9, to make the listing process more decentralized.Magazine: Memecoins are ded — But Solana ‘100x better’ despite revenue plunge