Bitcoin has been struggling throughout April, with its price falling to a three-week low of $77,077. According to Ki Young Ju, CEO of CryptoQuant, this stagnation reflects a longer-term bearish trend.
On-chain data shows that capital inflows are rising. However, there is no corresponding increase in Bitcoin’s price, suggesting the market is in a bear phase.
Ju explained that a key indicator of a bear market is the divergence between market cap and realised cap. Realised cap tracks actual money flowing into Bitcoin through wallet movements. Market cap, on the other hand, reflects the most recent price on exchanges.
Ju pointed out that, historically, Bitcoin’s price does not experience a true reversal within a short period. He predicts that the current bear market could last at least six months, making a rapid recovery unlikely.
Global market instability, triggered by Trump’s new tariffs, has increased volatility and raised doubts about Bitcoin’s role as a haven.
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Prominent hedge fund manager Bill Ackman has called for a 90-day pause on upcoming US tariffs. He warned that the current policy direction could spark an ‘economic nuclear winter’.
A strong supporter of Donald Trump, Ackman expressed deep concern over the sweeping tariff measures announced last week. These include a 25% levy on all foreign-made vehicles and a 10% minimum import tariff.
Ackman cautioned that such drastic steps risk eroding global business confidence, halting investment, and causing mass layoffs. He called the administration’s approach simplistic and harmful.
Treating allies and adversaries alike, he said, damages the US’s reputation as a trading partner.
Markets have responded swiftly, with Bitcoin falling 7.6% to $77,300, wiping out around $70 billion in value. Ethereum dropped even further, losing 14% in a single day.
Analysts warn that if sentiment continues to slide, Bitcoin could fall as low as $52,000 by summer. Ethereum may face a more significant downside due to broader structural challenges.
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Arthur Hayes, the co-founder of BitMEX, believes that the tariffs introduced by US President Donald Trump could benefit Bitcoin to benefit. Bitcoin sees this impact occurring in the medium term.
He argues that while the tariffs may disrupt the global economy, the resulting financial imbalances would ultimately be corrected. The correction would come with printed money, which bodes well for Bitcoin’s price.
Hayes made his comments following the announcement of a 10% tariff on all countries, with certain nations like China facing even higher rates.
According to Hayes, these tariffs will weaken the US Dollar Index (DXY), as foreign investors sell off US stocks and repatriate their funds. The situation could push investors towards Bitcoin and other safe-haven assets like gold.
Hayes also predicts that tariffs on China could lead to a devaluation of the yuan. Furthermore, Hayes suggests that the Federal Reserve may need to implement easing measures. It could include rate cuts in response to the economic impacts of the tariffs.
Hayes’ stance aligns with Jeff Park of Bitwise Invest. He also believes that Trump’s tariffs could ultimately send Bitcoin’s price soaring.
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The President of Kyrgyzstan, Sadyr Zhaparov, announced a new collaboration between the National Investment Agency and Changpeng Zhao (CZ), the founder of Binance. The agreement focuses on developing the cryptocurrency and blockchain technology ecosystem within the Kyrgyz Republic.
The partnership will see CZ provide infrastructural and technological support. It will also include consultancy on crypto and blockchain initiatives. Additionally, educational programmes will be implemented to support the country’s development in these fields.
Zhao expressed his excitement about advising Kyrgyzstan, emphasising the importance of expanding crypto adoption globally. In a post on X, he highlighted his role in advising several governments on crypto regulatory frameworks and blockchain solutions.
He also clarified that his involvement is strictly related to cryptocurrency and does not extend to politics. The advisory role forms part of CZ’s broader strategy to enhance blockchain’s reach beyond just trading.
President Zhaparov views this collaboration as a significant step towards strengthening the country’s technological capabilities. The partnership aims to drive innovation, build expertise, and boost economic growth and security.
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Genius Group, an AI-focused education firm based in Singapore, has been compelled to sell part of its Bitcoin holdings after a US court blocked it from raising funds or investing.
The Southern District of New York issued the injunction on 13 March. It halted the company’s $150 million at-the-market financing and disrupted its Bitcoin-first treasury strategy. As a result, Genius Group has trimmed its Bitcoin reserves from 440 to 430 to cover operational costs.
The dispute centres on Genius Group’s attempt to exit an Asset Purchase Agreement (APA) with Fatbrain AI. Fatbrain shareholders and the SEC accused the firm’s executives of fraud linked to the APA.
In response, Michael Moe and Peter Ritz, associated with Fatbrain AI, successfully sought a restraining order against Genius Group. The company claims the order is based on falsehoods.
A transcript allegedly detailing a plan to leverage the court system for financial gain was presented as evidence. Both parties have used it in different legal actions.
The injunction has had far-reaching effects, forcing Genius Group to shut down divisions and pause investments. It has also caused the company to violate Singaporean labour laws by being unable to issue share-based compensation.
CEO Roger James Hamilton voiced frustration, stating the situation undermines corporate autonomy. Despite setbacks, the company remains committed to Bitcoin and is appealing to overturn the court’s decision.
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The Treanor Law Firm is investigating potential fraud, market manipulation, and racketeering. These issues are related to the controversial launch of the Libra meme coin (LIBRA).
The token, which was heavily promoted by Argentine President Javier Milei, quickly soared to a market cap of $1.17 billion. It crashed 97% after Milei distanced himself from the project. The firm is seeking victims to support a potential lawsuit against those behind the token’s creation and promotion.
The Libra token was marketed as a project designed to boost the Argentine economy and fund small businesses. However, its rapid collapse has raised questions about the validity of the claims made to investors.
The Treanor Law Firm’s investigation is focused on whether investors were misled during the sale and whether market manipulation occurred. Over 75,000 wallets have reportedly lost money, with total losses exceeding $280 million.
In addition to investigating fraud and market manipulation, the firm is considering whether racketeering violations are involved. If racketeering is proven, victims could be entitled to triple damages.
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A new study by the National Cryptocurrency Association (NCA) has revealed that 55 million US adults, or 21% of the population, now use cryptocurrency. The survey highlights how digital assets are being adopted across different age groups, income levels, and industries.
Ownership remains highest among younger adults, with 67% of holders under 45. The study also found significant adoption among older Americans, with 15% of users over 55.
Women now represent 31% of all crypto holders. The adoption is notably strong in the construction sector (12%), surpassing financial services (7%).
Beyond investment, many users see cryptocurrency as a tool for learning, personal growth, and innovation. Forty-five percent value its role in education. The same percentage enjoys the excitement of being part of an emerging industry.
Nearly 40% use crypto for purchases, and 9% transact with it daily. Meanwhile, 81% want to expand their knowledge, particularly regarding security, regulation, and blockchain technology.
Regulation remains a key concern, with 64% supporting government oversight but 67% fearing it could hinder innovation.
Many users also see crypto’s broader societal benefits, with 45% citing its role in financial inclusion and digital transaction efficiency. Additionally, 33% recognise its potential to enhance global cooperation.
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The US lawmakers are intensifying their scrutiny of President Donald Trump’s ties to the cryptocurrency industry. Concerns over conflicts of interest and regulatory transparency continue to grow.
Senator Elizabeth Warren (D-MA) and Representative Maxine Waters (D-CA) sent a letter to SEC Acting Chair Mark Uyeda on 2 April. They demanded records on World Liberty Financial, Inc. (WLFI), a crypto firm linked to the Trump family.
The firm has raised millions and sparked allegations of potential bias in the SEC’s handling of crypto enforcement.
The letter details the Trump family’s significant financial stake in WLFI. They hold a 75% claim to token revenue, which has already earned them an estimated $390 million.
Lawmakers expressed concern about the SEC’s lack of action on the firm. They worry that the broader crypto market could be influenced by the Trump family’s financial interests.
In particular, they questioned the SEC’s sudden decision to pause its enforcement case against Tron founder Justin Sun, who also invested heavily in WLFI.
The concerns are compounded by the launch of WLFI’s stablecoin, USD1. It occurred shortly before lawmakers voted on relevant legislation, which they argue could indicate undue political influence.
The SEC has until 14 April to respond. The debate over crypto regulation is likely to intensify as the investigation continues.
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The US House Financial Services Committee has passed a bill aimed at regulating stablecoins, moving it to a full House vote. On 2 April, the Committee approved the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act in a 32-17 vote.
The bill outlines a regulatory framework for payment stablecoins such as USDT and USDC. It mandates transparency in token reserves, ensuring issuers hold sufficient dollar-equivalent assets to back their circulating supply.
Key provisions focus on consumer protection and reducing risk for stablecoin users. The bill also aims to strengthen the role of the dollar in digital finance.
Supporters argue the bill will modernise the US payment infrastructure, making transactions faster and more cost-effective. They also emphasise the importance of maintaining space for innovation.
Congressman Dan Meuser highlighted that the legislation reinforces the dollar’s position as the world’s reserve currency. Meanwhile, Congressman Troy Downing emphasised his role in balancing innovation with strong consumer protections.
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Switzerland is witnessing a significant shift towards digitalisation. A new survey shows debit card payments have surpassed cash for the first time.
In 2024, 35% of in-store purchases were made with debit cards, compared to 30% using cash. It marks a major change from 2017 when cash accounted for 70% of payments.
While Switzerland has traditionally favoured cash, especially for privacy reasons, the trend towards digital payments is undeniable.
The shift is partly attributed to the pandemic, which accelerated the move away from cash. According to economist Alexander Koch, countries like Switzerland, traditionally attached to cash, are now following international trends.
The cultural change indicates a broader willingness to embrace digital forms of payment. In Switzerland, 18% of payments are made via mobile apps, while credit cards make up 14%.
With digital payments on the rise, experts are seeing increased potential for stablecoins and tokenised assets.
Dominic Weibel from Bitcoin Suisse AG believes that the growing use of mobile payment apps sets the stage for Swiss stablecoins to thrive. He suggests tokenised Swiss francs could soon be integrated into mobile apps.
Despite the growing digital shift, the Swiss National Bank (SNB) remains cautious about introducing a central bank digital currency (CBDC). However, institutional engagement with blockchain and digital bonds continues to grow. It suggests that Switzerland’s digital future is on track.
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