Bitget Daily Digest (4.29)｜Trump Seeks to Mitigate Auto Tariff Impact, Arizona House Passes Bitcoin Reserve Bill
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远山洞见2025/04/29 01:52
By:远山洞见
Today's Preview
1. The US March JOLTs job openings (in thousands) will be released today, previous value 7,568, expected 7,500
2. The US April Conference Board Consumer Confidence Index will be released today, previous value 92.9, expected 87.6
3. US Treasury Secretary Besent will attend a press conference today at 20:00 (UTC+8) and give a brief statement to the media
4. Optimism (OP) will unlock approximately 31.34 million tokens today, which is 1.89% of the current circulation, valued at about $25.7 million
Key market highlights
1. Two "Arizona Strategic Bitcoin Reserve Bills" have successfully passed the House's final vote and are awaiting a signature from Democratic Governor Katie Hobbs, which would make Arizona the first state requiring public funds to invest in Bitcoin in the US. Bill SB 1373 proposes the creation of a Digital Asset Strategic Reserve Fund managed by the state's treasurer, funded by seized assets and legislative appropriations, allowing up to 10% investments in Bitcoin and other digital assets each fiscal year, with the possibility of borrowing without added risk. Bill SB 1025 allows the state treasury and pension systems to invest up to 10% of available funds in cryptocurrencies, with a focus on Bitcoin
2. Two insiders from the Trump administration have stated that Trump is negotiating larger trade deals with various countries, which is why the White House is taking longer to announce them. The insiders added that these deals are not only about reducing Trump's latest tariffs. Countries most often mentioned by Trump and his trade team include Japan, Vietnam, Argentina, the UK, South Korea, and the EU. The White House stated last week that its trade team received "18 written proposals" but did not detail which countries submitted the proposals
Additionally, informed sources reveal that Trump is expected to take measures to mitigate the impact of his auto tariffs, avoiding overlapping tariffs on foreign cars with tariffs already imposed, and easing some tariffs on foreign parts used in US car manufacturing. Trump is expected to take action before heading to Michigan for a rally outside Detroit on Tuesday night
3. The Aptos community is actively discussing proposal AIP-119, which plans to gradually reduce staking rewards from 7% to 3.79% over three months to lower APT inflation, enhance capital efficiency, and encourage users to shift funds from passive staking to DeFi, restaking, and other on-chain applications, thereby activating ecosystem vitality. The proposal includes a six-month evaluation period, and the foundation commits to a $200 million investment to support ecosystem expansion. While short-term selling pressure may arise from reduced staking yields, it is viewed as a key long-term measure for Aptos ecosystem transformation and competitiveness improvement
4. According to Cointelegraph, Ethereum's Executive Director Tomasz Kajetan Stańczak disclosed that the Fusaka hard fork upgrade is planned for the third or fourth quarter of 2025, but the exact timing is yet to be finalized. Core developer Tim Beiko stated that technical uncertainties might affect the upgrade schedule, with the controversial EVM object format (EOF) upgrade removed from Fusaka. Supporters believe it will improve EVM efficiency, but critics argue it overly complicates the system and requires synchronized updates to the development toolchain. An ETHPulse poll shows 39 addresses holding 17,745 ETH oppose the upgrade
Market Trends
1. $BTC is experiencing high-level fluctuations over 4H, with mixed market movements; tokens of the same concept AI agents like $VIRTUAL $COOKIE $GAME are collectively surging, showing a strong performance
2. The S&P 500 narrowly records a five-day gain, Nvidia falls more than 2%, and the Nasdaq ends its four-day rise
3. In the Bitget BTC/USDT liquidation map, with the current benchmark at 95,199 USDT, if it drops by 1,000 points to around 94,199,
the cumulative liquidation amount for long positions exceeds $59 million. If it rises by 1,000 points to around 96,199,
the cumulative liquidation amount for short positions exceeds $493 million. The amount for short liquidation far exceeds long liquidation, suggesting reasonable leverage control to avoid large-scale liquidations in market swings
4. In the past 24 hours, BTC spot inflow reached $2.4 billion, outflow $2.6 billion,
net outflow $200 million
5. In the past 24 hours, contract trading of $BTC $XRP $DOGE $TRUMP $ADA
led in net outflow, potentially indicating trading opportunities
Institutional Insights
Glassnode: Strong new Bitcoin buying and mild selling pressure helps sustain upward trend
Original link:
https://x.com/glassnode/
10x Research: Bitcoin may break $100,000 following short-term consolidation
Original link:
https://x.com/10x_Research/
Bitcoin remains resilient amid economic and geopolitical pressures
Original link:
https://www.coindesk.com/
News Updates
1. The Arizona Bitcoin Reserve Bill has been passed by the legislature, making it the first state in the US to establish a Bitcoin reserve
2. US Treasury Secretary: The first trade agreement may be reached as early as this or next week
3. Polls show Trump's approval rating has fallen to the lowest within the first 100 days of a US president's term in 80 years
4. Trump believes no red lines will change tariff policies
Project Developments
1. Ethereum Fusaka hard fork set for launch in late 2025
2. Jupiter announces Ultra v2 mode with Gas-free transaction support
3. Trump's crypto project WLFI officially signs a memorandum with Pakistan
4. Tether releases XAUT audit report: over 7.7 tons of physical gold backing
5. FLock.io to launch gmFLOCK staking mechanism, optimizing tokenomics
6. Hyperliquid: HyperEVM mainnet goes live with precompiled function reading
7. Lumoz launches MCP Server: supports AI direct invocation of on-chain contracts and data
8. Arbitrum, BSC, and Noble lead cross-chain bridge net inflows over the past 7 days
9. Loopscale hacker agrees to return stolen funds, withdrawal recovery plan to be announced in the coming days
10. The 1inch team investment fund has accumulated about 5.5 million 1INCH purchases over the past two days
Highlights on X
1.Eric Wei: Altcoin Cycles: Turning Points, Testing, Trend, and Acceleration
The rise and fall cycles of altcoins are often divided into four stages: turning points, testing, trend, and acceleration. The real market doesn't start out of nowhere but unfolds step by step along this path. Currently, most altcoins remain at the turning point stage, such as #AXL #JUP #INJ #CHZ. A few have entered the testing stage, such as #BCH, #RAY #XRP with unilateral increases, extremely rare, such as #SUI #FART #TRUMP. As for the acceleration stage, it is nowhere to be seen in the market now. This means that the overall market is still far from a true trend reversal, the sentiments of participants have not reached consensus, and the price structure has not achieved a real support and resistance conversion.
2.Guilin Chen: How to Avoid Missing the Bull Market, Control Positions and Grid Strategy
In trading, technical analysis accounts for 20%, but the real difficulty lies in defeating one's humanity and achieving unity of knowledge and action. My trading strategy is similar to a manual grid strategy, which ensures buying each time at a relatively low position, thereby improving the risk-reward ratio. I define the current rise as a rebound rather than a reversal since the market hasn't met the reversal conditions yet. Despite uncertainties during the rebound, I mitigate liquidation risks through reasonable position control. If it really enters a bull market, I will determine whether to go long in full according to market drivers and set reasonable stop-losses to ensure not missing the opportunity.
3.Crypto_Painter: ASR-VC Indicator 4-hour Channel Status Update, BTC Short-term Correction and Mid-term Target Analysis
The current BTC price is backtesting the yellow line position on the upper edge of the oscillating channel, with the key to the short-term trend whether this line can provide support. If the yellow line holds, it is expected to continue oscillating upward, with the target at 96,500; if the yellow line breaks, a short-term correction may occur, with the target at the support zone around 89,000. Considering the US economic growth data will be released on the 30th, the market may fear the data to some extent, and a correction may appear normal. Overall, BTC's trend remains positive, as long as the price stays above the midline, the bulls will continue to have the advantage.
4.Phyrex: Market Focus Turns to Arizona Governor Signature and US GDP Data
The Arizona strategic Bitcoin reserve bill is awaiting Governor Katie Hobbs' signature, if approved, it will become the first state-level BTC strategic reserve bill in US history, allowing the state to invest up to 10% of fiscal funds in Bitcoin and other cryptocurrencies. Despite currently low market sentiment and small BTC price fluctuations, investors remain cautious mainly due to the pending governor's decision and the upcoming US GDP data release.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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