Ah, the Trump Tariff Liberation Day—April 2, a date that has investors fleeing from Bitcoin and Ethereum ETFs like they’ve just been told the party is BYOB. A staggering $222 million has been yanked out of these digital darlings in the first two days of this week. Bitcoin, the so-called “digital gold,” is now trading at $85,082, with a 24-hour volatility of 1.8% and a market cap of $1.69 trillion. Ethereum, the younger, more volatile sibling, is at $1,871, with a 24-hour volatility of 0.5% and a market cap of $225.25 billion. 🎭
After a brief flirtation with inflows, US Bitcoin ETFs are back to their old tricks, with Fidelity’s FBTC leading the exodus. Bitwise (BITB), Ark Invest (ARKB), and WisdomTree (BTCW) collectively waved goodbye to $60.6 million on March 31. BlackRock’s IBIT, the lone wolf, managed to scrape together some positive inflows. But by April 1, the outflows had ballooned to $158 million, with FBTC and ARKB leading the charge. Ethereum ETFs weren’t spared either, with net outflows of $3.6 million, according to Farside data. Institutional investors, it seems, are as cautious as a cat in a room full of rocking chairs. 🐱
The Spot Bitcoin ETFs saw $157.8M outflow yesterday.
The Spot Ethereum ETFs saw $3.6M outflow.
INSTITUTIONS ARE REDUCING RISK AHEAD OF TODAY’S TARIFF ANNOUNCEMENT!
— Crypto Rover (@rovercrc) April 2, 2025
As the world braces for Trump’s Liberation Day announcement, traders are adopting a “wait-and-see” approach, which is code for “we’re scared, but we’re not saying it out loud.” President Trump has hinted at sweeping new tariffs, and the market is preparing for the inevitable volatility. The global tariff war is about to kick off, and no one is quite sure what the broader impact will be on the economy and crypto markets. 🤷♂️
Market views update
Markets crawl higher if headlines remain neutral to benign this week, then freeze as we await April 2nd, which is reciprocal tariffs day announcement or, as Trump called it, Liberation Day.
April 2nd is similar to election night. It is the biggest event of…
— Alex Krüger (@krugermacro) March 23, 2025
Despite Bitcoin’s struggle to attract institutional safe-haven flows, its long-term outlook remains strong. Bitcoin’s supply on exchanges has fallen to 7.53%, the lowest level since February 2018, signaling that investors are holding on for dear life. 💎
While Bitcoin is under strong selling pressure, Gold has continued to hit fresh highs amid the ongoing macro uncertainty. A Bank of America survey revealed that 58% of fund managers favor gold as a safe-haven asset amid trade war concerns, while just 3% support Bitcoin. It seems that in the battle of the havens, Gold is still the reigning champion. 🏆
🔥 Bitcoin = Digital Risk, NOT Digital Gold
Bitcoin is crashing harder than stocks, yet people still call it “digital gold.” But if it were truly digital gold, wouldn’t it act more like gold? Instead, Bitcoin behaves like a high-risk asset—just like penny stocks. So why would…
— Peter Schiff (@PeterSchiff) April 2, 2025
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2025-04-02 17:19