Wall Street closed with a strong rally yesterday with sharp rebounds across major indices after Donald Trump announced a 90-day suspension of most retaliatory tariffs. The Nasdaq (+12.15%), the S&P 500 (+9.5%), the Dow Jones (+7.9%), and the Russell 2000(+8.65%) all posted historic gains. Markets in the Asia-Pacific region are now echoing the surge, with Japan’s Nikkei 225 up 8.5%. While the 125% tariff on Chinese imports remains, Trump stated that he “can’t imagine further increases on China.”
In crypto, the global crypto market cap is up 6.5% in 24 hours to $2.6tn, while the total crypto market 24h volume increased 29.6% to $163bn. Bitcoin is up over 6% in the past 24 hours, currently trading around $82.1k. Ether is up almost 10% to $1,610.
Today’s key macroeconomic release will be the US CPI inflation data.
In the past 24 hours, crypto liquidations increased by 8%, and totaled $460m, with 72% of them short positions.
According to data from Farside Investors, US Bitcoin spot ETFs recorded daily net outflows, this time 61% lower than the previous day's outflows, Bitwise's BITB was the only ETF to record daily inflows which amounted to $6.7m, and with Blackrock's IBIT ($-89.7m), Grayscale's GBTC ($-33.8m), WTree's BTCW ($-5.7m), and Vaneck's HODL ($-4.7m), total outflows amounted to $127.2m. ETH ETFs recorded net outflows of $11.2m, with $-5.7m ouflows from Fidelity's FETH and $-5.5m from Blackrock's ETHA.
Ethereum researcher Virgil Griffith was released from prison on April 9 after serving 63 months for violating US sanctions. He was arrested in 2019 after giving a blockchain lecture in North Korea that the US government claimed could help the regime bypass sanctions, violating the International Emergency Economic Powers Act (IEEPA). Griffith initially pleaded not guilty, arguing the information was publicly available, but later accepted a plea deal in 2021. He was sentenced to 63 months and fined $100,000, with the sentence later reduced to 56 months.
The Senate confirmed Paul Atkins as the next Securities and Exchange Commission (SEC) leader.
According to an official statement published on April 8, 2025 by the World Food Program USA, a new initiative now allows donations in over 80 cryptocurrencies, including Bitcoin and Ethereum, through a partnership with The Giving Block.
According to an April 9 post by CryptoQuant contributor Maarten Regterschot, Binance’s Bitcoin reserve increased by 22,106 BTC ($1.82 bn), over the last 12 days to a total of 590,874 BTC, showing a strong acceleration in BTC inflows into the exchange.
The total value locked in DeFi increased 5.6% in the past 24 hours and is now over $90.4bn.
