Soon after U.S. President Donald Trump announced a 90-day pause on tariffs, BTC rebounded to $82,000 on Thursday. But even during the tariff turmoil leading up to this decision, Bitcoin has shown remarkable resilience.
Bernstein analysts suggest Bitcoin’s recent decline has shown significantly more stability compared to previous market downturns. Despite the turbulence in both cryptocurrency and conventional markets caused by Trump’s tariff policies announced last week, “Bitcoin’s resilience has been nothing but impressive,” Bernstein analysts report.
Looking at past data, they point out that Bitcoin typically experienced drops of 50% to 70% during earlier crisis periods — including COVID-related market fears and interest rate shocks. “The current price action (down 26%) suggests demand for Bitcoin from more resilient capital,” they stated in a Tuesday note provided to The Block.
Market Spotlight
Note: Market prices captured in USD at the time of sending. Explore more on Crypto.com/Price. Want more? Get weekly Market and DeFi Updates from Crypto.com’s Research Team.
News Snaps
🏦 Cboe Files for SUI ETF Listing
Cboe BZX Exchange filed to list Canary Capital’s SUI exchange-traded fund (ETF), which would be the first to do so in the U.S. if it is approved. Cboe BZX has also applied to list other altcoin-based ETFs, including SOL ETFs by Fidelity and Franklin Templeton.
⚒️ Trump Tariffs Could Lower Mining Costs Outside U.S.
The Trump administration tariffs could collapse U.S. demand for Bitcoin mining rigs, which would benefit mining operations outside the country, as manufacturers will look outside the U.S. to sell their surplus inventory for cheaper, according to a Hashlabs Mining report.
🧊 Ethereum’s DEX Volume Cools Off
Ethereum’s decentralized exchange (DEX) volume has slowed, with daily unique traders dropping to approximately 40,000 addresses, a 12-month low and steep decline from its late 2024 peak. This reduction in DEX participation coincides with broader market cooling.
🔍 Solana Launches New On-Chain Privacy Feature
Solana developers rolled out a new institutional-focused feature, Confidential Balances, which aims to improve on-chain privacy by enabling confidential token transfers, shielded balances, and discreet minting or burning.
Ethereum developers set May 7 as the target date for the Pectra upgrade.
Number of the Week
Chart of the Week
Bitcoin showed initial signs of resilience after Donald Trump’s tariffs announcement on imports to the U.S., which caused significant turmoil in both the TradFi and crypto markets.
However, Bitcoin’s price increased around 2% between March 31 and April 4 after Trump’s tariff announcement. In contrast, the weekly performance of S&P 500, Nasdaq Composite, and Dow Jones Industrial Average indices saw significant drops of -9.08%, -10.02%, and -7.86%, respectively. In addition, the five-day volatility in the last week for BTC was around 2.3%, less than the 2.9% to 3.5% of the three indices.
Research & Insights
Monthly Feature Article | Wall Street On-Chain Part 2 – RWA Tokenization
Real-world asset (RWA) tokenization is revolutionizing traditional finance by bringing liquidity, efficiency, and accessibility. This report explores tokenization by asset classes, including institutional adoption and regional initiatives, as well as RWAs by chain.
Which of the following correctly lists the four phases of the crypto market cycle?
A) Adoption, Mining, Halving, Regulation B) Accumulation, Markup, Distribution, Markdown C) Bull Run, Dip, Whale Dump, Moonshot
Find the correct answer at the end of this newsletter. 👇
NFT Spotlight
🎉 Unstoppable Domains is back for its third premium on-chain domain drop with Crypto.com, this time featuring ‘Number Madness’, which drops this Wednesday, April 16, and features 200 numbers and AI math madness.
Use your domain to send and receive cryptocurrency effortlessly by replacing long, complicated wallet addresses with a human-readable name, with no renewal or gas fees — ever. Seize the opportunity to “own high-in-demand digital identities,” featuring numbers- and AI math-themed on-chain domains.
Log in and transact with hundreds of wallets, exchanges, marketplaces, and your favorite apps — plus build your profile, chat with friends, and more!
Greater Benefits With the New CRO Rewards Program on the Crypto.com Exchange
The Crypto.com Exchange has a new and revamped CRO rewards program that gives you even more reasons to be a CRO holder. CRO soft stakers are now eligible for trading fee discounts and lowered interest rates on margin trading. In addition, APRs for locked-up CRO have been increased. See all the CRO rewards now on the Crypto.com Exchange.
10,000 Diamond Giveaway to Celebrate the Launch of Rewards Hub
In celebration of the newly launched Rewards Hub in the Crypto.com App, we’re holding a 10,000 Diamond Giveaway! Until April 30, you have the chance to be one of ten winners to receive 1,000 Diamonds by simply holding a ten-day check-in streak. Diamonds can be used to redeem exclusive items like signed sports jerseys, event tickets, Crypto.com merchandise, and more. For more details, visit the blog.
Get 15% p.a. on CDCSOL for a Limited Time
Solana (SOL) stakers, there’s no better time to wrap your tokens to Crypto.com Staked SOL (CDCSOL)! From now until 9 May, users holding CDCSOL in the Crypto.com App and Exchange can enjoy boosted rewards of 15% p.a. The reward is applicable to the first 250,000 CDCSOL tokens. Check it out now.
Crypto.com Web Now Available for SG Users
Users in Singapore can now access their Crypto.com App accounts on their desktop via Crypto.com Web. Users can easily view live price charts and access over 350 crypto assets on their web browser simply by scanning a QR code with their App. Check it out now.
A New Event Has Arrived to Crypto.com Sports
A new major event has arrived to Crypto.com Sports. You can make predictions for Pro Basketball games in the Crypto.com App or on the Crypto.com Web now. Profit if you’re correct and receive your payment when the contract settles. You can also choose to close your position at any time to secure profit or stop losses. Try it now.
This is informational content only and should not be considered as an investment recommendation. Some Crypto.com products may not be available in some jurisdictions.
Crypto Learn
What Is ChainGPT (CGPT)?
ChainGPT is an AI-driven blockchain platform designed to simplify blockchain and cryptocurrency technologies by providing a range of tools and services, like:
AI Chatbot: Provides real-time blockchain and crypto insights.
Smart Contract Generator and Auditor: Creates custom contracts and audits for security vulnerabilities.
AI Trading Assistant: Analyzes trends and data to provide actionable trading insights.
AI NFT Generator: Creates unique NFT art using AI algorithms.
ChainGPT Pad (Launchpad): Supports fundraising and networking for new blockchain projects.
CryptoGuard: Detects phishing scams and risky transactions.
Discover how ChainGPT (CGPT) uses AI for trading insights and more in this University article.
CryptoIRL
Sometimes, if you look just right, the cherry blossoms look like the Crypto.com Rose Gold and Ruby Steel Cards, here popping out with @michaelrabone in Barcelona.
Hashtag #CryptoIRL with your Crypto.com Card on your social profiles to get featured! Your 15 minutes of fame in the #CROFam awaits you!
Security Tips
Millions of Dollars Stolen in Crypto Pig Butchering Scam
A woman has lost $3 million after falling victim to a cryptocurrency scam. The scammer initially reached out through a Korean messaging app and convinced the victim to invest in crypto. The victim was directed to the legitimate Coinbase website but was later led to fraudulent sites, which showed profits of up to 80%. Encouraged by the promised returns, she invested more funds, which eventually led to significant financial losses.
Here’s how to stay safe from scams:
Do not respond to unsolicited messages.
Never invest money with people or organizations you don’t know.
Be cautious if someone avoids phone communication and insists on using encrypted messaging platforms like WhatsApp.
If you suspect fraud, immediately report the incident to authorities.
