Top News

1.Trump's "Reciprocal Tariffs" Measure Triggers Sharp Decline in US Stock Futures and Cryptocurrencies

2.Binance: FDUSD Audit Report Confirms Full Backing by a 1:1 USD Reserve

3.Spot Gold Briefly Surpasses $3160 per Ounce, Continues to Hit New All-Time Highs

4.$293 Million Liquidated Across the Network in the Last 4 Hours, Majority of Liquidations on Long Positions

5.Analysis: Reciprocal Tariffs Exceed Market Expectations, Heightening "Stagflation" Risk in the US Economy

Articles & Threads

1.《US Stock Market Evaporates $2 Trillion in 15 Minutes, Was "Reciprocal Tariffs" the Final Straw That Broke the Bull Market's Back?》

When Trump announced in the early hours of the meeting that the tariff benchmark was all set at 10%, Bitcoin once surged to $88,000, hitting a high since March 25, rising over 5%; however, it later announced additional tariffs on about 60 countries with the largest trade imbalances with the US. Bitcoin gave back most of its gains, falling below $82,500. Looking at Bitcoin's current performance, it can be said that it has no safe-haven properties. Meanwhile, spot gold briefly surpassed $3160 per ounce, continuing to hit new all-time highs.

2.《From Riches to Losses, a Profound Reflection on the "Four-Year Cycle"》

The author reflects on their experience in the crypto market, from the excitement of 2017 to the crash of 2018, and then to the resurgence of new trends like NFTs and agents. They point out that the market cycle continuously breeds fervor and illusions, leading investors to mistakenly believe they have grasped a pattern, only to still face losses. Emotions drive people to repeat the same mistakes, while the market always operates counter to expectations. The only way to survive is to take profits as much as possible during uptrends and reduce losses during downtrends, but this is much harder than imagined. The market will not change, and the real challenge lies in controlling one's emotions and decisions.

Market Data

Daily Market-wide Funding Heatmap (reflected by funding rate) and Token Unlocks

Data Source: Coinglass, TokenUnlocks

Funding Rate

Token Unlocks