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BTC is still lagging behind the equity market but is showing signs of recovery. It’s currently trading above both the 20-day and 200-day moving averages, which is a promising sign that it could head back into bullish territory. However, there’s still some resistance around the 50-day moving average at $90,000, as well as the previous support zone of $93,000 to $95,000, which is now acting as resistance. Volatility is likely to pick up ahead of Friday’s quarterly options expiry, with over $12 billion in notional value set to expire on Deribit.
Memecoins are making a comeback after taking a big hit in recent months. FARTCOIN has surged +200% since its recent lows, while POPCAT is up +60% in the same period. AI tokens are still holding steady despite concerns raised by Alibaba’s Joe Tsai at a Hong Kong HSBC conference, where he warned of a potential bubble in the AI sector. RENDER, FET, and TAO are all up +30%, +15%, and +13%, respectively, since Friday.
In other news, President Donald Trump has announced plans to impose tariffs on a range of sectors, including automobiles, pharmaceuticals, lumber, and semiconductors, building on his earlier tariff plans. It’s still unclear whether these tariffs will come into effect after the “reciprocal tariffs,” which are set for April 2. These remarks came shortly after Trump revealed a plan to impose a 25% tariff on all countries buying oil and gas from Venezuela.
Wall Street is jittery about potential inflation increases and slower economic growth as it waits for reciprocal tariffs from the Trump administration, expected on April 2. However, traders were feeling more optimistic on Monday after reports from The Wall Street Journal and Bloomberg News suggested that the White House may scale back the scope of the tariffs.
The News Room
Trump Media Partners with Crypto.com to Launch ETFs
Trump Media & Technology Group, the parent company of Truth Social, has teamed up with Crypto.com to introduce "Made in America" ETFs. These funds will focus on digital assets and securities from various industries, including energy, and will feature cryptocurrencies like Bitcoin and Cronos. Crypto.com will handle the technological infrastructure, custody, and cryptocurrency provisions for these funds, which are expected to launch later this year.
Trump Family Launches USD1 Stablecoin Backed by U.S. Assets
World Liberty Financial, backed by President Trump and his family, has introduced USD1, a stablecoin fully backed by U.S. government securities and cash equivalents. The reserves are managed by BitGo, aiming to provide stability without complex yield mechanisms.
BlackRock to Introduce Bitcoin ETP in European Market
BlackRock has announced plans to launch a Bitcoin Exchange-Traded Product (ETP) in Europe, marking its first significant crypto investment outside the U.S. This move reflects the growing institutional interest in cryptocurrency investment products.
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ETF Flow
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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.
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