Crypto Daybook Americas: Bitcoin Resilient As Trump’s ‘Liberation Day’ Sets Markets on Edge

President Trump’s So-Called Liberation Day Has Arrived, and Markets Are Nervousely Awaiting Developments on US Tariffs. Even with the Administration, The Mood Apps Far from Optimistic.

Commerce Secretary Howard Lutnik is reportedly in the Crosshairs, with Suggages he May of the Scapegoat for Favoring Overly Aggressive Tariffs IF The Use -Anceda, ACEDING ACEDING Online Newspaper.

A recession look like accounting to the atlanta fed’s gdpnow Model, WHICH is Projecting A Firmst -Quarter Contraction of -3.7% for US Real GDP. That is a Dramatic Downward Revision from Earlier Estimates: +3.9% Two MONTS AGO, +2.3% One MONT AGO and -1.8% Just Two Weeks Ago.

While Trump Has Yet to Disclose Which Country The Tariffs Will Target, an Announcement Is Schelyled for After The Stock Market Closes at 4 PM

Bitcoin (BTC), Meanwhile, Remains Unfazed, Trading Little Changed On the Day and Holding Above $ 85,000. US EQUITIES FINISHED HIGHher On Tuesday, Although Futures Are Pointing Slightly Negative Heading Into Wednesday.

Currently, Bitcoin is 25% Below It Jan. 20 All-Time High of $ 109,000. This Places It in the Middle of the Performance Range of the “Magnification 7” Tech Stocks. Here’s How they Compare to Their Respect All-Time Highs: Apple Is Down 17%, Microsoft 22%, Amazon 24%, Meta 25%, Google 26%, NVIDIA 32%and TESLA 50%.

The Cryptocurrency’s Resiliency Stands Out WHEN Compared to Past Cycles. In 2022, BTC Fell 75% from Its Peak to a Low of $ 15,500, More than Twice as Much as The Nasdaq-100 ETF (QQQ) ‘s 34%. This Year, Bitcoin Has Droped 30% Versus 16% for QQQ – A Relative DrawDown of 1.87 Times. This Relative Performance Suggests Bitcoin Has Become More Resilient Over Time, Even As Valativity Remains A Denting Trait.

Still, A Lot Hinges on the Tariff Announcement and How Markets React. Stay Alert!

What to Watch

• Crypto:
  • April 2, 10:00 AM: US House Financial Services Committe Hearing for Marking Up Various Measures, Including HR 2392, The Stablecoin Transparency and Accountability (ECCOUNTABILITY FOR A Better L ( 2025, and HR 1919, The Anti-CBDC Surveillance State Act. LIVESTREAM LINK.
  • April 2: Xionmarkets (Xion) Will Have ITS MAINNET LAUNCH.
  • April 5: The Alleged BirthaDay of Satoshi Nakamto.
  • April 9, 10:00 AM: US House Financial Services Committee Hearing About How The US Securities Laws Could Be Updated to Take Into Acccunt Digital Assets. LIVESTREAM LINK.
• Macro
  • April 2, 8:00 AM: The Brazilian Institute of Geography and Statistics Releases February Industrial Production Data.
    • Industrial Production Mom Est. 0.5% Vs. Prev. 0%
    • Industrial Production Yoy Est. 2.3% Vs. Prev. 1.4%
  • April 2, 4:00 PM: Trump Administration ‘Liberation Day Reciprocal Tariffs Will Get Announced.
  • April 2, 4:30 PM: Fed Governor Adriana D. Kugler Will Give A Speech Titled “Inflation Expectations and Monetary Policymaking.” LIVESTREAM LINK.
  • April 3, 12:01 AM: The Trump Administration’s 25% Tariff on Imported Automobiles and Certain Parts Announced March 26 Become Effective.
  • April 3, 12:30 PM: Fed Vice Chair Philip N. Jefferson Will Give A Speech Titled “US Economic Outlook and Central Bank Communications.” LIVESTREAM LINK.
  • April 4, 11:25 AM: Fed Chair Jerome H. Powell Will Give A Speech Titled “Economic Outlook.” LIVESTREAM LINK.
• Earnings (Estimates Based On Factor Data)
  • No earnings screduled.

TKEN EVENTS

• Governance Votes & Calls
  • Yearn Dao Is Discussing A Revised Proposal To Endorse and Fund “Bearn,” A New Sub-Dao for Building Defi Products Including A YIELD-Backed Stablecoin and A BGT LIQUID LIQUID LIQUID LIQUID LIQUID LIQUID LIQUID LIKEIN. The Proposal Seeks $ 200,000 for Audit Costs and $ 1 Million in Locked Liquidity, Offering 5% of Bearn Tokens to The Yearn Treasury in Return.
  • Lido Dao Is Discussing The Re-Endorsment of WSTeth on Starknet As the Canonical Bridge EndPoint Following Amplened Migration from the Legacy Token.
  • April 2, 11 PM: Axie Infinity to Host Atia’s Legacy Town Hall on the Project Co-Funders’ Vision for the Forthotory Massive Multiplayer Online Game.
  • April 2, 10 Am: The Graph to Host a Token Api Talk.
  • April 3, 9 Am: Safepal, Wallet Connect and Trader to Host A MONTHLY Community LIVESTREAM Discussing MONTHLY UPDATES FOR The PROjects.
  • April 3, 2 p.m.: Arbitrum to host an X Spaces session on real-World assets on arbitrum.
  • April 3, 12 PM: Seamless Protocol, Morpho Labs and Gauntlet to Host An Ask Me Anything (AMA) SESSION.
  • April 7, 4 PM: Livepeer to host a monthly community call focused on governance, Funding and the strategic Direction of Its on-Chain Treasury.
• Unlocks
  • April 3: Wormhole (W) to Unlock 47.64% of Its Circulating Suppply Worth $ 104.38 Million.
  • April 5: Ethena (ENA) to Unlock 3.25% Of ITS Circulating Supple Worth $ 61.86 Million.
  • April 7: Kaspa (Kas) to Unlock 0.59% of It Circulating Supple Worth $ 10.29 Million.
  • April 9: Movement (Move) to Unlock 2.04% Of ITS Circulating Supple Worth $ 20.10 Million.
  • April 12: Aptos (Apt) to Unlock 1.87% of It Circulating Supple Worth $ 59.94 Million.
• Token Listings
  • April 4: Pintu (PTU), Spartan Protocol (SPARTA), Derby Stars (DSRUN), VELOCE (VEXT), Bob, and Kryptonite (Seilor) to Be DESLATED FROM BYBIT.

Conferences

• Coindesk’s Consensus is Taking Place in Toronto on May 14-16. Use Code Daybook and SAVE 15% ON PASSES.
• Day 1 of 2: Southeast Asia Blockchain Week 2025 Main Conference (Bangkok)
• Day 1 of 4: eth Bucharest Conference & Hackathon (Romania)
• April 3-6: BitblockBoom (Dallas)
• April 6-9: Hong Kong Web3 Festival
• April 8-10: Paris Blockchain Week
• April 10: Bitcoin Educators Unconference (Nashville)
• April 15-16: Buidl Asia 2025 (Seoul)

Token TalkBy shaurya malwa

• President Donald Trump’s Trump Memecoin is set to Unlock 40 Million Tokens – or 20% of the circulating Supple – on April 17, accounting to Solana Floor.
• Token Unlocks ofTEN LEAD TO SHORT-TRICE DRICE DUE DUE TO INCREASED SUPPLY, AS SEEN WITH Other Cryptocurrencies Such As Aptos (APT), WHICH FELL 26
• A Similar Pattern Could Emerge for Trump, WHICH is Currently Priced Just Above $ 10.
• Memocoins Can See Higher Selling Pressure Than Utility Projects Because they rely heavily on sentiment, in this casse to Trump’s Political Brand.
• However, if the President’s Political Influence Continues to Drive Hype – Potentally Amplified by Developments Like Trump Media Etfs – The Token Might See of See.
• That means investors look for a Trump are like to keep anie on his public comments and the statement about the memecoin specifically around the Unlock Date.

Derivatives Positioning

• Market Stability Failed to Inspire Bullish Positioning, Leaving Perpetual Funding Rates for Major Tokens, Including Btc and Eth, Barely Positive Near Annualized Rates of 1%.
• MOST Major Coins are exhbiting negative Cumulative Volume Deltas, A Sign of Net Selling Pressure, Casting A Doubt on How Long the Market Stability Can Last.
• In Deribit’s Options Market, BTC Volatility Smiles Have Shifly Sharply Town Lower Strike Put Options, Reaching Levels Not Seen Since the US Regional Banking Crisis of March 2023
• Ether Options Are Also Exibbiting Put Skews.

Market Movements

• BTC is Down 0.21% from 4 pm et tuesday at $ 85,063.12 (24hrs: +1.19%)
• ETH IS DOWN 1.75% AT $ 1.879.84 (24hrs: +0.48%)
• Coindesk 20 is Down 0.56% at 2.5559.88 (24hrs: -0.07%)
• Ether Cesr Composite Staking Rate Is Up 7 BPS at 3.1%
• BTC FUNDING RATE IS AT 0.0027% (2.9685% Annualized) on Binance

• DXY IS DOWN 0.13% AT 104.12
• GOLD IS UP 1.4% AT $ 3,162.70/OZ
• Silver is up 1.79% AT $ 34.77/Oz
• Nikkei 225 Closed +0.28% AT 35,725.87
• HANG SENG CLOSED UNCHANED AT 23,202.53
• Ftse is down 0.57% AT 8,585.55
• Euro Stoxx 50 is Down 0.47% AT 5.295.55
• Djia Closed On Tuesday Unchanged AT 41,989.96
• S&P 500 CLOSED +0.38% AT 5.633.07
• NASDAQ CLOSED +0.87% AT 17,449.89
• S&P/Tsx Composite Index Closed +0.46% AT 25,033.30
• S&P 40 Latin America Closed +1.44% AT 2.440.93
• US 10-YEAR Treasury Rate is Down 2 BPS at 4.16%
• E-mini S&P 500 Futures Are Down 0.3% AT 5.657.50
• E-mini NASDAQ-100 Futures Are Down 0.37% AT 19,531.50
• E-mini Dow Jones Industrial Average Index Futures Are Down 0.24% AT 42,138.00

Bitcoin Stats:

• BTC Dominance: 62.68 (0.21%)
• Ethereum to Bitcoin Ratio: 0.02211 (-1.16%)
• Hashrate (Seven-Day Moving AVERAGE): 819 eh/s
• HashPrice (Spot): $ 47.62
• Total Fees: 4.35 BTC / $ 366,246
• CME FUTures Open Interest: 135,350 BTC
• BTC PRICED IN GOLD: 27.0 Oz
• BTC VS Gold Market Cap: 7.66%

Technical AnalysisCrypto Market Cap Excluding BTC and ETH. (TradingView/Coindesk)

• The Chart Shows of the Total Market Capitalization of All Cryptocurrencies Excluding Market Leaders Bitcoin and Ether.
• The Value Is Holding on to A Bullish Trendline Sloping Upward From August and November Lows.
• A Strong Bounnce from The Trendline Wuld Signal A Resumption of the Broader Rally.

Crypto equities

• Strategy (Mstr): Closed On Tuesday at $ 306.02 (+6.16%), Down 1.31% AT $ 302in Pre-Market
• Coinbase Global (Coin): CLOSED AT $ 174.52 (1.33%), Down 0.88% AT $ 172.99
• Galaxy Digital Holdings (GLXY): CLOSED AT C $ 16.33 (+7.65%)
• MARA HOLDINGS (MARA): CLOSED AT $ 11.84 (+2.96%), Down 1.01% AT $ 11.72
• Riot Platforms (Riot): CLOSED AT $ 7.54 (+5.9%), Down 1.33% AT $ 7.44
• Core Scientific (Corz): CLOSED AT $ 8 (+10.5%), Down 0.63% AT $ 7.95
• Cleanspark (CLSK): CLOSED AT $ 7.56 (+12.5%), Down 1.46% AT $ 7.45
• Coinshares Valkyrie Bitcoin Mines Etf (WGMI): Closed AT $ 13.67 (+7.05%), Down 2.51% AT $ 12.80
• Semler Scientific (SMLR): CLOSED AT $ 36.52 (+0.88%)
• Exodus Movement (Exod): Closed At $ 45.63 (-0.24%), UP 2.98% AT $ 46.99

ETF FlowsSPOT BTC ETFS:

• Daily Net Flow: -$ 157.8 Million
• Cumulative Net Flows: $ 36.11 Billion
• Total BTC Holdings ~ 1.12 Million.

Spot eth etfs

• Daily Net Flow: -$ 3.6 Million
• Cumulative Net Flows: $ 2.42 Billion
• Total Eth Holdings ~ 3.41 Million.

Source: Farside Investors

Overnight FlowsChart of the dayBofa Private Client Net Flows Over The Past Week and Month. (Bofa, The Market Ear)

• The Chart Shows Technology Stocks have Fallen Out of Favor Over The Past Four Weeks.
• That helps explain the weakness in the Crypto Market.

While You Were Sleeping

• Bitcoin Slides 1% As Goldman Picks Yen Over BTC AMID Tariff Fears (Coindesk) Against Growing US Tariff and Recession Risks.
• US REAFFIRMS Commitment to Taiwan As Beijing Condues Live Fire Drills in East China Sea (CNBC) Exercise Called “Strait Thunder-2025 a,” Accorming to A Senior Officer.
• Bitcoin May have Hit Bottom After Its 30% Fall from All-Time High (Coindesk): Bitcoin May See Bullish Mmentum IF History Repeats, Echoing Patterns From The US SPOT ETF LAUCH Unwind.
• SEC, GEMINI REQUEST TWO-MONTH PAUSE IN LAWSUIT as ‘Potential Resolution’ in the Works (Coindesk) Resolution After Prolonged Legal Proceedings.
• USA Officials Object to European Push to Buy Weapons Locally (Reuters): In Closed-Door Meeting, Secretary of State Marco Rubio Reportedly Tldica. FIRMS ‘EXCLUSION FROM Europe Contracts Unfavorably.

In the Ether