Tariffs Loom Large

Trump’s fluctuating import tariffs affected the markets this week. Initially, tariffs caused significant declines in both stocks and cryptocurrencies. However, as all new non-China tariffs were suspended for 90 days, the markets recovered by week’s end.

Bitcoin Resurgence

Bitcoin fluctuated back to around $82,000, mirroring its value from the previous week. Analysts speculated whether this movement indicated its nature as a ‘safe haven’ asset, similar to gold, rather than just another risk asset. The overall agreement among them was that Bitcoin displayed resilience amidst the market chaos.

Market Coverage

The Asia reporting team had a standout week covering the markets. Omkar Godbole highlighted the potential impact of the unwinding of the basis trade on Bitcoin’s price. Sam Reynolds reported on how Kalshi was poised to secure a legal win in Nevada, with the prediction market achieving its first success in the state. Additionally, Shaurya Malwa announced the first U.S. XRP ETF listing and how Teucrium’s leveraged fund garnered $5 million on its debut.

From Europe, James Van Straten provided vital analysis on market reactions while Oliver Knight discussed the decentralized economy’s strength. Jamie Crawley revealed that Rootstock is preparing to launch SDKs for Bitcoin Layer 2 solutions. Meanwhile, further insights were shared on HyperLiquid’s recent price manipulation incident.

Regulatory Developments

Beyond tariffs, important regulatory changes were also in the spotlight. Paul Atkins’ appointment as the new SEC Chair was confirmed, while the DOJ disbanded its crypto enforcement unit. This led to criticisms regarding the commitment to tackling misconduct in the sector. Notably, the SEC also approved ETH ETF options, marking a significant advancement after lengthy delays.

The week demonstrated the growing importance of cryptocurrency in both finance and macroeconomic discussions, indicating ‘fun times ahead’ in the market.