By Omkar Godbole (All times ET unless indicated otherwise)
Markets remain squarely focused on the U.S.-China trade tussle and headlines from both countries.
Bitcoin fell below $75,000 during the Asian morning, with S&P 500 futures nursing a 2% loss after the U.S.
Sentiment improved somewhat after China's State Council Information Office
In any case, the sustainability of the recovery was always under question as China's comments beyond the headlines were tough and suggested the government was unlikely to blink any time soon. For instance, the document said China won't be bullied and the U.S. will need to show respect and equality if it wants to resolve the problem. The country will take measures to safeguard its rights and interests, it said.
Besides, persistent volatility in bonds, triggered by the supposed unwinding of carry trades and fears of sticky inflation, could work against a sustained recovery in the risk assets. A growing number of observers, including economist
In the broader crypto market, BlocScale, a launchpad to onboard projects and community-driven token introductions to XRP Ledger, continued to make waves, with
The TRUMP token, associated with President Trump, traded at record lows near $7.5 in the wake of massive selling by whales early this week. It is now down 90% from its record high, with a $360 million unlock due later this month. Stay Alert!
Crypto:
April 9: The
April 9, 10 a.m.: U.S. House Financial Services Committee
April 10, 10:30 a.m.:
April 11, 1 p.m.: U.S. SEC Crypto Task Force Roundtable on "
Macro
April 9, 8:00 a.m.: Mexico's Instituto Nacional de Estadística y Geografía (INEGI) releases March consumer price inflation data.
Core Inflation Rate MoM Prev. 0.48%
Core Inflation Rate YoY Prev. 3.65%
Inflation Rate MoM Prev. 0.28%
Inflation Rate YoY Prev. 3.77%
April 9, 11:30 a.m.: U.S. Senate to
April 9, 12:01 p.m.:
April 9, 2:00 p.m.: The Fed releases minutes of the FOMC meeting held March 18-19.
April 9, 9:30 p.m.: China’s National Bureau of Statistics (NBS) releases March’s Consumer Price Index (CPI) report.
Inflation Rate MoM Prev. -0.2%
Inflation Rate YoY Est. 0% vs. Prev. -0.7%
PPI YoY Est. -2.3% vs. Prev. -2.2%
April 10, 8:30 a.m.: The U.S. Bureau of Labor Statistics (BLS) releases March consumer price inflation data.
Core Inflation Rate MoM Est. 0.3% vs. Prev. 0.2%
Core Inflation Rate YoY Est. 3% vs. Prev. 3.1%
Inflation Rate MoM Est. 0.1% vs. Prev. 0.2%
Inflation Rate YoY Est. 2.6% vs. Prev. 2.8%
April 10, 8:30 a.m.: The U.S. Department of Labor releases unemployment insurance data for the week ended April 5.
Initial Jobless Claims Est. 223K vs. Prev. 219K
April 10, 10:00 a.m.: U.S. Senate Banking Committee
April 11, 8:30 a.m.: The U.S. Bureau of Labor Statistics (BLS) releases March producer price inflation data.
Core PPI MoM Est. 0.3% vs. Prev. -0.1%
Core PPI YoY Est. 3.6% vs. Prev. 3.4%
PPI MoM Est. 0.2% vs. Prev. 0%
PPI YoY Est. 3.3% vs. Prev. 3.2%
April 14: Salvadoran President Nayib Bukele will join U.S. President Donald Trump at the White House for an
Earnings (Estimates based on FactSet data)
No earnings scheduled.
Governance votes & calls
Bancor DAO is discussing the e
April 9, 12 p.m.: Vana to host an X Spaces
April 10, 10 a.m.: Hedera to
April 11, 3 p.m.: Zcash to host a town hall on
April 14, 10 a.m.: Stacks to
Unlocks
April 9: Movement (MOVE) to unlock 2.04% of its circulating supply worth $15.25 million.
April 12: Aptos (APT) to unlock 1.87% of its circulating supply worth $49.08 million.
April 12: Axie Infinity (AXS) to unlock 5.68% of its circulating supply worth $20.73 million.
April 15: Starknet (STRK) to unlock 4.37% of its circulating supply worth $15.71 million.
April 16: Arbitrum (ARB) to unlock 2.01% of its circulating supply worth $25.31 million.
Token Listings
April 9: IOST airdrop
April 10: Stacks (STX) to be listed on Bitfinex.
April 10: Ren (REN), KonPay (KON), and Symbol (XYM) to be
April 22: Hyperlane to
CoinDesk's Consensus is taking place in
Day 2 of 2:
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Day 1 of 2:
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April 9:
April 9:
April 10:
April 10:
April 10:
April 10:
April 10-11:
April 10-11:
April 11-12: Strategy's
April 12:
April 12-13:
By Shaurya Malwa
Confidential Balances, a
It uses zero-knowledge proofs (ZKPs), as a way to prove something is true — like you have enough money to pay — without needing to say exactly how much you have. It’s like showing a locked box and proving the cash is inside without opening it.
When tokens are sent, the amount stays secret. Normally, on blockchains, everyone can see how much is being transferred. Here, only the sender and receiver know the details.
The token balance (how much you own) is also kept private. Think of it like a bank account where nobody but the owner can peek at the total, unlike most blockchains where balances are public.
This means the creation or destruction of tokens (minting and burning) can take place without everyone knowing the numbers. For example, a company could issue new tokens or remove some quietly, keeping the total supply under wraps.
The feature is built for privacy-focused financial apps, like payroll systems or business payments, where participants don’t want the amounts to be made public. It’s a big deal for institutions that want privacy but still need to follow rules.
BTC futures open interest on offshore exchanges increased as prices dropped during Asian hours, validating the downtrend. The level held steady during the subsequent recovery, suggesting a spot-led move or absence of bullishness among derivative traders. The same can be said about the ETH market.
The open interest-adjusted cumulative volume delta for the top 25 coins, except BNB, SHIB, BCH and HBAR, is negative for the past 24 hours, a sign of net selling pressure in these markets.
BTC options flow on Deribit has been mixed with puts lifted along with put spreads and a notable block trade involving a long position in the $84K call expiring on April 25.
BTC is up 0.24% from 4 p.m. ET Tuesday at $77,232.03 (24hrs: -1.81%)
ETH is down 0.36% at $1,475.05 (24hrs: -5.66%)
CoinDesk 20 is up 0.95% at 2,203.46 (24hrs: -3.04%)
Ether CESR Composite Staking Rate is unchanged at 3.69%
BTC funding rate is at -0.0018% (-1.9392% annualized) on Binance
DXY is down 0.68% at 102.25
Gold is up 3.19% at $3,063.20/oz
Silver is up 2.53% at $30.34/oz
Nikkei 225 closed -3.93% at 31,714.03
Hang Seng closed +0.68% at 20,264.49
FTSE is down 2.01% at 7,751.59
Euro Stoxx 50 is down 2.11% at 4,673.14
DJIA closed on Tuesday -0.84% at 37,645.59
S&P 500 closed -1.57% at 4,982.77
Nasdaq closed -2.15% at 15,267.91
S&P/TSX Composite Index closed -1.54% at 22,506.90
S&P 40 Latin America closed -2.24% at 2,177.30
U.S. 10-year Treasury rate is up 8 bps at 4.38%
E-mini S&P 500 futures are down 0.21% at 5,031.00
E-mini Nasdaq-100 futures are up 0.63% at 17,352.00
E-mini Dow Jones Industrial Average Index futures are unchanged at 37,857.00
BTC Dominance: 63.40 (0.08%)
Ethereum to bitcoin ratio: 0.01916 (-0.73%)
Hashrate (seven-day moving average): 925 EH/s
Hashprice (spot): $42.03
Total Fees: 7.88BTC / $622,998
CME Futures Open Interest: 429,112 BTC
BTC priced in gold: 25.3 oz
BTC vs gold market cap: 7.25%
BTC’s monthly candlesticks chart shows the cryptocurrency has almost retraced to the former resistance-turned-support level at $73,757 (March 2024 high) in a classic throwback pattern observed after bullish breakouts.
A bounce from that level would signal a resumption of the broader uptrend.
Strategy (MSTR): closed on Tuesday at $237.95 (-11.26%), up 2.14% at $243.05 in pre-market
Coinbase Global (COIN): closed at $151.47 (-3.69%), up 0.45% at $152.15
Galaxy Digital Holdings (GLXY): closed at C$13.22 (+7.13%)
MARA Holdings (MARA): closed at $10.52 (-6.57%), up 0.67% at $10.59
Riot Platforms (RIOT): closed at $6.54 (-8.02%), up 1.22% at $6.62
Core Scientific (CORZ): closed at $6.51 (-7.26%), down 1.54% at $6.14
CleanSpark (CLSK): closed at $6.74 (-9.29%), up 0.89% at $6.80
CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $11.49 (-7.41%), up 10.1% at $12.65
Semler Scientific (SMLR): closed at $31.97 (-6.38%), down 1.02% at $33.80
Exodus Movement (EXOD): closed at $40.14 (-4.06%)
Spot BTC ETFs:
Daily net flow: -$326.3 million
Cumulative net flows: $35.74 billion
Total BTC holdings ~ 1.11 million.
Spot ETH ETFs
Daily net flow: -$3.3
Cumulative net flows: $2.37 billion
Total ETH holdings ~ 3.38 million.
Source:
The chart shows gyrations in the U.S. 10-year yield and the Nasdaq futures this month.
Since Friday, the 10-year yield has surged over 50 basis points despite the continued weakness in Nasdaq.
The rising yield presents a challenge to the Trump administration which wants to lower it to help manage its debt load.
UPDATE (April 9, 11:38 UTC): Adds China's tariff retaliation in third paragraph.