Crypto Daybook Americas: Bitcoin's Haven Narrative Faces Pressure Amid U.S.-China Tensions
An overview of the impacts of U.S.-China tariffs on crypto markets as Bitcoin sees a decline.
Crypto Daybook Americas: Bitcoin’s Haven Narrative Faces Pressure Amid U.S.-China Tensions
Your day-ahead look for April 8, 2025
You are viewing Crypto Daybook Americas, your new morning briefing on what happened in crypto markets overnight and what’s expected throughout the day.
Key Insights
In the current climate, marked by uncertainty primarily due to tariffs imposed by the U.S., both the United States and China remain locked in a standoff that is keenly affecting global markets.
As sentiment shifted slightly on Tuesday, following a drastic drop on Monday, Bitcoin’s (BTC) price reflected a precarious position at $75,000. This has led to skepticism regarding Bitcoin’s safe haven narrative, especially as traditional safe harbors like gold also experienced declines during the turmoil.
According to David Lawant, head of research at FalconX, BTC’s correlation with broader market risk appears to be decreasing in intensity, indicating a growing perception of Bitcoin as a non-sovereign store of value during economic strife.
Looking Ahead
- Crypto Events:
- April 8: The Teucrium 2x Long Daily XRP ETF is listing on NYSE Arca.
Market Movements
- BTC: unchanged from the previous day, priced at $78,894.34.
- ETH: marginally up at $1,514.40, showing resilience.
- Notably, DXY, Gold, and the Nikkei index are reflecting varying levels of volatility.
Stay alert! The current market dynamics continue to unfold as the ongoing tensions between the U.S. and China add layers of complexity to the economic landscape. For ongoing updates, subscribe to Crypto Daybook Americas.
