Bitget Daily Digest (4.25) | Trump Considers Tiered Tariff Plan for China, Federal Reserve Eases Crypto Regulation

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远山洞见2025/04/25 01:41

By:远山洞见

Bitget Daily Digest (4.25) | Trump Considers Tiered Tariff Plan for China, Federal Reserve Eases Crypto Regulation image 0

Today's Preview

1. The final value of the U.S. Michigan consumer sentiment index for April will be released today, the previous value was 50.8.

2. The preliminary value of the U.S. one-year inflation rate expectation for April will be released today, the previous value was 6.7%.

3. The U.S. SEC will hold its third crypto policy roundtable today, focusing on crypto asset custody issues.

4. Venom (VENOM) will unlock 59.26 million tokens worth approximately $8.18 million today, accounting for 2.86% of the circulation.

Key market highlights

1. The Trump administration is considering multiple tariff options for China. The first option could reduce the tariff rate on Chinese goods to approximately 50%-65%. The second option, known as the "tiered plan," would categorize imports from China into goods that "do not pose a threat to U.S. national security" and those that are of "strategic importance to U.S. national interests." U.S. media reports that in the "tiered plan," a 35% tariff would be imposed on the former category, and at least a 100% tariff on the latter category. White House Press Secretary Levitt stated that Trump's position on Chinese tariffs "has not softened."

2. Fidelity reports that "due to purchases by listed companies, the supply of Bitcoin on exchanges is decreasing. This is expected to accelerate in the near future. The number of BTC on exchanges is 2.6 million, the lowest level since November 2018. More than 425,000 bitcoins have been transferred off exchanges since November 2024. After the U.S. election, listed companies increased by nearly 350,000 bitcoins. Until 2025, listed companies are purchasing more than 30,000 bitcoins per month."

3. The official TRUMP Meme token statement indicates that some market participants misunderstood the "TRUMP Dinner" threshold, which does not require more than $300,000 to participate (not currently needed), and no tokens will be unlocked for sale during the event. The official statement clarifies that the user "Sun" holds 1,176,803 TRUMP (worth $14 million) ranking first, while "HAR" at 220th only holds 35.3 TRUMP (worth $420). (Both are eligible to attend the dinner based on current rankings) Additionally, the official reiterated that the initial and subsequent daily unlock batches for three months will be additionally locked for 90 days, and these assets will remain locked throughout the ranking process.

4. CME announced plans to launch XRP futures on May 19, pending regulatory review. Market participants can opt to trade mini contracts (2,500 XRP) or large contracts (50,000 XRP). CME XRP futures will be cash-settled and based on the CME CF XRP USD Reference Rate, calculated once daily at 4:00 PM London time, serving as a daily reference rate for the XRP USD price.

5. The Fed announced the revocation of regulatory guidance on banks' crypto and dollar token businesses, also updating relevant business expectation standards. This move aims to ensure regulatory requirements keep pace with evolving risks and further support innovation in the banking system. The announcement shows the Fed officially rescinded a regulatory letter issued in 2022 that previously required state member banks to engage in prior reporting for intended or existing crypto asset businesses. After revocation, the Fed will no longer require banks to fulfill reporting obligations but will monitor related activities through regular supervisory processes. The rescission also includes a 2023 guidance document concerning the "no-objection" procedure for state member banks engaging in dollar token business.

Market Trends

1. $BTC 4H high volatility, market close to overall rise; on-site small coins BSC DEX $BSW surged over 100% before pulling back, leading the entire site, religious Memecoin $LUCE, TON-based $MEMEFI was cut by half, leading the decline on site.

2. The prospect of Fed interest rate cuts heats up, U.S. stocks and bonds rise together, Nasdaq up nearly 3%; Gold and crude oil rebound; Google jumps after after-hours earnings report.

Bitget Daily Digest (4.25) | Trump Considers Tiered Tariff Plan for China, Federal Reserve Eases Crypto Regulation image 1

3. On Bitget's BTC/USDT liquidation map, based on the current 93587 USDT, if it falls by 1,000 points to around 92587, the cumulative liquidation amount of long orders exceeds $140 million. If it rises by 1,000 points to around 94587, the cumulative liquidation amount of short orders exceeds $430 million. Short liquidation amount far exceeds long, it is recommended to reasonably control leverage ratios to avoid triggering large-scale liquidation amid market changes.

Bitget Daily Digest (4.25) | Trump Considers Tiered Tariff Plan for China, Federal Reserve Eases Crypto Regulation image 2

4. In the past 24 hours, BTC spot inflow was $2.1 billion, outflow was $2.5 billion, net outflow of $400 million

Bitget Daily Digest (4.25) | Trump Considers Tiered Tariff Plan for China, Federal Reserve Eases Crypto Regulation image 3

5. Over the past 24 hours, contracts for $ETH, $XRP, $TRUMP, $SOL, $DOGE, etc., net outflow leads, there might be trading opportunities.

Bitget Daily Digest (4.25) | Trump Considers Tiered Tariff Plan for China, Federal Reserve Eases Crypto Regulation image 4

Institutional Insights

CryptoQuant: Bitcoin is gradually decoupling from the stock market, but its correlation with gold is increasing

X post: https://x.com/cryptoquant_com/

Glassnode: Some short-term Bitcoin holders are taking profits, the market has not yet fully shifted to a bullish territory

X post: https://x.com/glassnode/status/

Placeholder Partner: Traders buying with TWAP strategy, Bitcoin decline won't last long

X post: https://x.com/cburniske/status/

News Updates

1. The U.S. SEC will hold a cryptocurrency roundtable meeting on April 26 at 1:00 AM.

2. Fed's Hammer: Trump's views on the Fed Chair might impact economic data.

3. The number of U.S. initial unemployment claims for the week ending April 19 was 222,000, expected 222,000.

4. Japanese lawmakers meet with JAN3 CEO to discuss formulating a national Bitcoin strategy in Japan.

Project Updates

1. Raydium posted a tweet with airdrop-related emojis, suggesting a potential airdrop.

2. The market value of stablecoins on the Solana chain exceeds $12.8 billion, reaching a historical high.

3. Polygon launches an aggregator plan, with winning projects airdropping 5%-15% of native tokens to POL stakers.

4. The U.S. SEC delays decision on Grayscale's spot DOT ETF application.

5. Helium partners with telecom giant AT&T to provide WiFi to thousands of locations across the U.S.

6. Neiro has reached an agreement with Own The Doge to obtain exclusive licensing for Neiro IP authorized by Atsuko Sato.

7. The U.S. SEC Crypto Working Group meets with Ondo Finance to discuss compliant issuance of tokenized securities.

8. Ether.fi transforms into a new type of crypto bank, launching a cash card in the U.S.

9. Merlin Chain officially joins WBTC DAO, co-governing the world's largest Bitcoin cross-chain protocol.

10. Synthetix (SNX) is designated as a trading warning commodity by the Korean Digital Asset Exchange Association (DAXA).

Highlights on X

1. CryptoCat: On-chain narrative is shifting: VC shell games rise, Meme phase out, AI becomes the main line?

VCs have gradually realized the predicament of the secondary shell game lacking successors and are beginning to return to the primary market, manufacturing rapid shell and high control trends through VC + Meme, VC + AI combinations, especially on SOL. The previously popular pure narrative Meme is continuously suppressed by strong speculative games, and the market cap ceiling is rapidly approaching. In contrast, AI narrative as a "functional Meme" has stronger imagination space and topic extension ability, possibly becoming the new main line on-chain in the second half of the bull market, following the wealth creation by CEX in 2017. VC no longer only serves as distributors but directly intervenes in the speculation structure, marking a qualitative change in on-chain logic.

X post: https://x.com/Crypto_Cat888/status/1915539485410156817

2. MillionEric: Is the "Little Spring" market emerging? Beware of a "stagnation period" after a rebound

Bitcoin's strong performance against declines has led some altcoins to experience fast upward movements in a "little spring" rhythm. But the market's heat does not mean a trend reversal has been achieved. To truly establish a trend market, at least three prerequisites are needed: a clear price structure forming an uptrend channel, sustained capital inflow supporting volume, and market sentiment shifting from cautious observation and disagreement to collective consensus. Currently, it's only an initial rebound stage, and markets without a solid foundation might "rest after rising," caution against blind chasing.

X post: https://x.com/CycleStudies/status/1915436644616024394

3. Phyrex: BTC returns to the concentration zone, trend depends on whether 93K-98K can stabilize

U.S. stocks rebounded sharply by more than 2% due to eased tariffs and reduced political uncertainty, but BTC failed to rise in sync and entered a narrow volatility range, showing reduced linkage with U.S. stocks. On-chain data shows that despite a slight BTC pullback, overall market sentiment remains stable, turnover rate declines, short-term bottom-fishing funds have started to exit, while early and loss-holding investors choose to wait and see. The price support focus is also changing, with the $83,000 line gradually giving way, and the $93,000 to $98,000 area seeing increased holdings, indicating enhanced willingness of long-term investors to hold. Overall, BTC has returned to the on-chain concentration chip absorption zone, and future trends will depend on the stability of this area.

X post: https://x.com/Phyrex_Ni/status/1915498103505096803

4. Crypto_Painter: BTC unable to sustain gains, 95000 may be a bull trap, volatility may continue until Sunday

BTC bullish sentiment has clearly warmed up, but the 95K upper region has dense bearish liquidity, which may become a short-term bull trap point. Although touching 95000 or even 96500 is possible, the lack of spot purchase relay and inadequate bearish momentum above 96K make it difficult to support continuous breakthroughs. If 91K is lost, trend strategy will also automatically take profit and close positions. In summary, unless there is a sudden political variable, the market on Friday is likely to return to volatility after a false breakout, until the market re-selects a direction on Sunday evening.

X post: https://x.com/CryptoPainter_X/status/1915429176770994209

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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