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Has the bear market returned?
Bitcoin lost it's momentum against the Trump tariffs.
William Foxley
April 07, 2025
It’s so over.
If you woke up early this morning, you probably have seen the market headlines. If you just woke up, consider going back to sleep.
Bitcoin broke below $80,000 late ET hours as Asian markets dumped the orange coin, dropping to a low of $74,600 over the last 24 hours.
Many noted Bitcoin’s staying power against the fray, staying above $80,000 even as tech stocks continued to shed value.
Perhaps something to watch. In the last few days, Bitcoin hasn't been looking like a tech stock
— Joe Weisenthal (@TheStalwart)
1:12 PM • Apr 4, 2025
Unfortunately, everything is going down today. Even gold, which has been on a tear since August 2024, dipped this weekend. So, let’s do some headlines you missed this weekend since there’s nothing much to consider in the stock market.
Trump continues pressing on tariffs, China counters
China reciprocated Trump’s 34% tariffs with its own. Beijing is also considering using stimulus packages to protect itself from the fallout of the new trade war - link
Digital assets see outflows for first time in 2 weeks
$240 million left the ecosystem, mostly from Bitcoin ETFs - link
Binance’s CZ appointed as Pakistan’s strategic advisor on crypto
This happened a few minutes before we sent the email, so we’ll check back in later - link
ETH/BTC erases post-2020 gains despite DeFi, NFTs, stablecoins
At 0.02, ETH has shed 45% of its value against Bitcoin this year - link
Post-halving, miners on Luxor Pool earned 20%+ more BTC than FPPS peers
Lock in fixed payouts–hedge difficulty & fee risks with our forward market - link
The controversial developer says the dual changes would ‘dramatically’ help his project, a way to verify compute on Bitcoin - link
Stablecoin supply nears $250 billion
The outstanding supply of all stablecoins has added nearly $50 billion since the US election date - link
Source: DeFiLlama
Inside Bitcoin’s Darknet Markets (Podcast)
Colin and Charlie dive into the seedy underbelly of cryptocurrency: darknet markets - link
L1s, VCs, and the Bitcoin investments with Rajiv (Podcast)
Rajiv of Framework Ventures joins The Gwart Show to chat Hyperliquid’s success, the future of memecoins, and why Bitcoin-based financial products represent a massive opportunity - link
Tweet of the day
I don’t really see why all of us have to suffer just because coal miners and steel workers didn’t realize they could launch SPACs
— Gwart (@GwartyGwart)
1:03 PM • Apr 7, 2025
Closing thoughts: Start the day with a bagel & coffee. It’s bangin’
-Will