You are about to leave the website of SDM Inc. ("SDM") and will be redirected to the website of SDM Financial Inc. ("SDM Financial"), a US affiliate of SDM providing crypto derivatives trading services.
Please be aware that SDM Financial's services are not intended for, and should not be used by, residents of Canada.
By clicking on the link to SDM Financial's website, you acknowledge and agree that: You are not a Canadian resident.
SDM Financial is not registered with any regulatory authority in Canada and is strictly prohibited from entering, or otherwise engaging in, any transactions with Canadian residents.
Non-Canadian residents who deal with SDM Financial do so at their own risk, and SDM will not be held liable for any losses or damages incurred as a result.
By clicking 'I Accept' below, you confirm that you have read, understand, and agree to the above . If you do not agree, please select 'I Decline' and you will be redirected back to SDM's website.
Risk assets took a hit on Tuesday as the market waited to hear from President Trump about his plans for tariffs. The uncertainty around this has been causing a lot of volatility in global financial markets. Tuesday also kicked off the second quarter, following a rocky first quarter. The Washington Post reported that the Trump administration might impose tariffs of around 20% on most imports into the U.S. The White House is expected to announce these tariffs on Wednesday, covering goods from nearly all countries, despite investors hoping for a more targeted approach.
Bitcoin bounced back 5% from its recent lows, reaching $85,000. However, we still need to break through the 20-day and 200-day moving averages to get back to a neutral position. Right now, puts are more expensive than calls, suggesting there's a bearish outlook for the market heading into the May expiration. This likely reflects investor nerves about Trump’s anticipated tariff announcement, as a strong move could put pressure on risk assets, including cryptocurrencies. Long-term Bitcoin holders and newer whales are showing resilience, holding their positions and helping stabilize Bitcoin's price.
ETH reclaimed its position as the top DEX in March, beating Solana for the first time since September. ETH DEXs saw a total trading volume of $64.5 billion in March, outpacing Solana’s $49.7 billion by 23%, despite Solana usually taking the lead during the memecoin boom.
In other news, there are reports that the Treasury and other federal agencies will reveal their Bitcoin and crypto holdings on April 5, in line with a March 11 directive to disclose these assets within 30 days of Trump’s executive order to create a strategic crypto reserve.
The News Room
US policy proposal calls on Treasury to issue $2 trillion in Bitcoin-enhanced bonds to offset debt, fund strategic reserve
A recent proposal from the Bitcoin Policy Institute suggests that the U.S. Treasury issue $2 trillion in "Bitcoin-Enhanced Treasury Bonds" to reduce national debt and establish a Strategic Bitcoin Reserve. These bonds would allocate 90% of proceeds to traditional government financing and 10% to purchasing Bitcoin, potentially adding $200 billion to the reserve. The bonds would offer a 1% annual interest rate, lower than the current 10-year Treasury yield of approximately 4.5%, in exchange for exposure to Bitcoin's potential gains. If Bitcoin's value appreciates as historically observed, the program could significantly offset national debt by 2045. Additionally, the proposal includes tax-exempt interest payments and Bitcoin-linked gains, aiming to make the bonds accessible to a broad range of investors
Vitalik proposes new roadmap for Ethereum to enhance L2 security, finality
Ethereum co-founder Vitalik Buterin has introduced a comprehensive roadmap aimed at enhancing the security and finality of Layer-2 (L2) rollups on the Ethereum network. Central to this proposal is a hybrid-proof architecture that integrates zero-knowledge proofs, optimistic rollups, and trusted execution environments (TEEs), ensuring a balanced and robust security model without over-reliance on any single system. This framework aims to achieve faster transaction finality and bolster trust within Ethereum's scaling solutions, marking a significant step forward in the network's evolution.
Tether strengthens Bitcoin portfolio with 8,888 BTC acquisition, sits on unrealized profit of $3.86 billion
Tether, the issuer of the USDT stablecoin, acquired 8,888 BTC in Q1 2025, bringing its total holdings to 92,647 BTC, valued at approximately $7.64 billion. This positions Tether among the top six largest Bitcoin wallets globally, with an estimated unrealized profit of $3.86 billion. Since May 2023, Tether has consistently purchased 8,888 BTC each quarter, allocating 15% of its quarterly profits to Bitcoin as part of a strategy to diversify its reserves, which also include gold and cash equivalents.
Crypto Charts
ETF Flow
Disclaimer
This research is for informational use only. This is not investment advice. Other than disclosures relating to Secure Digital Markets this research is based on current public information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on as such. The information, opinions, estimates, and forecasts contained herein are as of the date hereof and are subject to change without prior notification. We seek to update our research as appropriate.
Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation. The price of crypto assets may rise or fall because of changes in the broad market or changes in a company's financial condition, sometimes rapidly or unpredictably. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur. Fluctuations in exchange rates could have adverse effects on the value or price of, or income derived from, certain investments. We and our affiliates, officers, directors, and employees, excluding equity and credit analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives, if any, referred to in this research.
The information on which the analysis is based has been obtained from sources believed to be reliable such as, for example, the company’s financial statements filed with a regulator, company website, company white paper, pitchbook and any other sources. While Secure Digital Markets has obtained data, statistics, and information from sources it believes to be reliable, it does not perform an audit or seek independent verification of any of the data, statistics, and information it receives.
Unless otherwise provided in a separate agreement, Secure Digital Markets does not represent that the report contents meet all of the presentation and/or disclosure standards applicable in the jurisdiction the recipient is located. Secure Digital Markets and their officers, directors and employees shall not be responsible or liable for any trading decisions, damages or other losses resulting from, or related to, the information, data, analyses, or opinions within the report.
Crypto and/or digital currencies involve substantial risk, are speculative in nature and may not perform as expected. Many digital currency platforms are not subject to regulatory supervision, unlike regulated exchanges. Some platforms may commingle customer assets in shared accounts and provide inadequate custody, which may affect whether or how investors can withdraw their currency and/or subject them to money laundering. Digital currencies may be vulnerable to hacks and cyber fraud as well as significant volatility and price swings.
Contact Us
Sign up to receive more exclusive market coverage:
.png)
