Market Turmoil & Liquidations
Global markets reacted strongly to tariff news, triggering circuit breakers in Asia and over $1.4B in crypto long liquidations. Focus shifts to potential Fed emergency actions and whether BTC shows risk-off characteristics as the ETH/BTC ratio nears multi-year lows below 0.02.
Links:
- https://www.bnnbloomberg.ca/tariffs/2025/04/07/traders-see-five-us-fed-cuts-in-2025-and-a-risk-of-an-emergency-move/
- https://www.mpamag.com/us/mortgage-industry/market-updates/fed-could-make-emergency-rate-cut-next-week-as-market-chaos-continues/531194
- https://www.forexlive.com/news/beware-of-claims-of-an-emergency-fed-meeting-20250407/
On-Chain Metrics & Technical Levels
Despite price drops, BTC hashrate hits new ATH (1 ZettaHash). Low fees present opportunity for UTXO consolidation. Key BTC levels discussed: support near $76k, $72k, $69k; resistance near $80k, $83k. Whale activity monitoring notes large exchange wallets like Binance holding significant supply (1.25%).
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Wallet Management & Security
Enhanced seed phrase security methods debated, including passphrase use, multisig setups, and Shamir's Secret Sharing (SSS). Importance of verifying hardware wallet receive addresses highlighted. Bitcoin Core v28 importprivkey issue noted for legacy keys, requiring wallets created with descriptors=false.
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Altcoin Unlock Pressure & Tokenomics
Significant token unlocks across major projects (SUI, APT, ARB, JTO etc.) continue, raising concerns about sell pressure potentially exceeding $3B monthly. Poor tokenomics questioned for highly-shilled altcoins like HBAR, ONDO, LINK, SUI, SEI, TAO, contributing to underperformance versus BTC.
Protocol & Regulatory Developments
Taproot activation expands beyond BTC/LTC, with DigiByte (DGB) becoming the third chain to implement it. Hong Kong regulators permit licensed exchanges to offer staking under strict guidelines. Exodus sunsets Monero (XMR) support, advising migration to wallets like Cake Wallet.
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