Market Overview 🌐

This week, the cryptocurrency market faced notable volatility, with leading assets like Bitcoin (BTC) and Ethereum (ETH) experiencing selling pressure. The downturn was primarily driven by macroeconomic factors, including rising inflation concerns and escalating trade tensions following new tariff announcements by President Donald Trump. Despite the bearish sentiment, institutional interest in digital assets remained strong, marked by the launch of Solana futures ETFs on Nasdaq.

Top 5 Events of the Week 📰

🔹 US Senator submits proposal to end the FED while White House advances Bitcoin reserve buying
Senator Mike Lee's proposal to dismantle the Federal Reserve and Trump's pursuit of a Bitcoin reserve suggest a potential recalibration of U.S. monetary policy.

🔹 IMF updates global standards to include crypto in balance of payments
Bitcoin and comparable cryptocurrencies are now classified as non-produced assets in global economic statistics per the IMF's new standards.

🔹 MicroStrategy Bitcoin holdings now equivalent to nearly half of Satoshi Nakamoto’s estimated Bitcoin stash
MicroStrategy's Bitcoin stash has hit a significant milestone, now representing over 2.55% of BTC's circulating supply.

🔹 Japan’s Open House to accept DOGE, SOL, and XRP for real estate amid a friendlier regulatory climate
Amid Japan's evolving regulatory landscape, Open House is integrating DOGE and SOL as payment options to attract a broader demographic in the real estate market.

🔹 South Korea blocks 17 overseas crypto exchange apps in registration crackdown
Authorities urge users to withdraw assets as South Korea intensifies efforts to curb money laundering by targeting foreign crypto platforms.

Crypto Market Performance 💹

🔸 Bitcoin (BTC)

• Weekly Change: -2.5%

• Key Highlights: BTC fell to $85,291 amid new U.S. tariff announcements and overall market turbulence.

🔸 Ethereum (ETH)

• Weekly Change: -5.6%

• Key Highlights: ETH declined to $1,925.04, reflecting broader market sell-offs and reduced retail sentiment.

🔸 Binance Coin (BNB)

• Weekly Change: -2.7%

• Key Highlights: Specific performance data for BNB this week is limited.

🔸 XRP (XRP)

• Weekly Change: -5.1%

• Key Highlights: XRP fell to $2.25, mirroring the overall bearish trend across the crypto market.

🔸 Solana (SOL)

• Weekly Change: -4.6%

• Key Highlights: Despite launching its futures ETFs on Nasdaq, SOL's price dipped to $133.79 due to market-wide volatility.

Traditional Markets & Macro Impact 🌏

📉 Stocks

• Major Indices Performance:

  • The S&P 500 fell nearly 2%.

  • The Dow Jones Industrial Average dropped 1.7%.

  • The Nasdaq Composite declined by 2.7%.

• Key Events: Investor worries about rising inflation and new tariffs on auto imports drove markets down.

💲 Currencies & Forex

• USD Performance: The U.S. Dollar Index (DXY) rallied, closing above 104, driven by unwinding short positions ahead of the April 2nd tariffs.

• Notable Movements: The euro weakened against the dollar, impacted by eurozone economic challenges and tighter U.S. trade policy.

📊 Bonds & Interest Rates

• Federal Reserve Updates: The Fed held rates steady but hinted at two potential cuts in 2025, aiming to mitigate economic slowdown risks.

🪙 Commodities

• Gold: Reached a record high of $3,077, as investors sought safe-haven assets amid trade fears.

• Oil: Prices remained relatively flat, as markets balanced supply concerns with the potential impact of new tariffs.

Conclusion & Key Takeaways 📝

This week underscored the strong link between macroeconomic developments and crypto market movements. Rising inflation, escalating trade tensions, and key policy announcements contributed to increased volatility across both traditional and digital assets. Nevertheless, the launch of Solana futures ETFs highlights continued institutional confidence in crypto. Investors should stay cautious and pay attention to economic indicators that could further impact the markets in the weeks ahead.