US index futures are rebounding, sentiment was lifted in Asian markets, and European indices showed strength. Despite the gains, market volatility remains elevated, with the VIX still above 30. Tensions remain high after Trump threatened 50% tariffs on China, while Beijing and the Chinese Commerce Ministry rejected the "coercive" policies. Trump criticized the EU’s zero-tariff offer as insufficient, pushing instead for increased European energy imports from the US, and sent a delegation to the UAE and Qatar for energy talks.
In crypto, Bitcoin has bounced back from $75k to nearly $80k, signaling improving sentiment. However, the broader market rebound remains muted. The global crypto market is up 6.9% in the past 24 hours to $2.51tn. The total crypto market 24h volume increased 31% to $177.8bn.
In the past 24 hours, crypto liquidations decreased by 60.6%, and totaled $524.57m, with 64% of them short positions. BTC positions made up over 43% of all liquidated positions.
According to data from Farside Investors, US Bitcoin spot ETFs recorded daily net outflows on the first trading session of the week, with Grayscale's GBTC ($-74m), Invesco's BTCO ($-12.9m), WTree's BTCW ($-6.2m), Vaneck's HODL ($-6.1m) and Ark's ARKB ($-4.7m) bringing total outflows to $103.9m, which follow last week's net outflows of $165bn.
Cathie Wood’s Ark Invest purchased 84,514 Coinbase shares worth $13.3 million across two of its ETFs while offloading $12.4m of its own Bitcoin ETF: the ARK Next Generation Internet ETF (ARKW) bought 64,806 shares ($10.2m), while the ARK Fintech Innovation ETF (ARKF) bought 19,708 shares ($3.1m) and sold 159,496 shares of ARK 21Shares Bitcoin ETF (ARKB).
Yesterday, the Bitcoin network has surpassed 1 Zetahash per second (ZH/s) for the first time, marking a 1,000-fold increase in hashrate since 2016, highlighting the network’s growth in security and decentralization.
According to Lookonchain and Arkham Intelligence data, a wallet who received 365 BTC 10 years ago, when the price was only $284, moved all 365 BTC ($29m) yesterday after 10 years of dormancy.
Also according to Lookonchain and Arkham Intelligence data, two whales bought 15,191 ETH ($23.94m) during the market dip, with one buying 24,299 ETH ($57m) at $2,343 since Feb 11, 2024 and sitting on a loss of $19.36m as of 14 hours ago, and the other buying 22,000 ETH ($37.6m) at $1,709 over the past 6 days.
Strategy is preparing to announce $5.9 billion in unrealized losses for the first quarter of 2025 on its Bitcoin investment during the first quarter of 2025, according to an April 7 filing with the US Securities and Exchange Commission (SEC).
During the rest of the week, investors will be watching for the US starting to implement its "reciprocal tariffs" on April 9, US Initial Jobless Claims and March CPI inflation data releases on April 10 which will offer insights into the labor market and inflation trajectory and the March US PPI inflation data, the University of Michigan Consumer Sentiment Index, and Q1 earnings from BlackRock, major player in crypto ETFs.
