Bitcoin (BTC) has fallen below $76,000. As of 8:44 PM (local time) on the 9th, Bitcoin is trading at $75,950, down 4.70% from 24 hours ago. It is interpreted that market sentiment has deteriorated as China announced retaliatory measures by imposing an additional 84% tariff on U.S. imports. In addition, U.S. stock futures and oil futures are also continuing to decline.
Chinese Premier Li Qiang has reportedly stated that China is prepared to deal with uncertainty. According to Walter Bloomberg on the 9th (local time), Premier Li stated through the state media China Central Television (CCTV), "We are prepared to deal with uncertainty." Previously, China announced that it would increase additional tariffs on U.S. imports from 34% to 84%. Furthermore, it stated that it would file a complaint with the World Trade Organization (WTO) regarding the U.S.'s 50% tariff imposition.
It has been reported that China will impose an additional 84% tariff on US products. According to Walter Bloomberg on the 9th (local time), the Chinese Ministry of Finance announced that it will impose an additional 84% tariff on US goods starting April 10th (local time). This is a significant increase compared to the existing tariff rate of 34%. Furthermore, the Chinese Ministry of Commerce stated that it will add 12 US companies to the export control list. Following this news, US stock index futures and crude oil futures are showing a downward trend. Apple, Meta, and others also showed a decline, giving back their pre-market gains. Bitcoin (BTC) also plummeted momentarily. As of 8:08 PM, Bitcoin is trading at $76,226 on the Binance USDT market, down 3.54% compared to 24 hours ago.
Amid growing uncertainty in the risk asset market due to the global trade war, the claim that Bitcoin (BTC) has decoupled from macroeconomic conditions is considered premature. However, there is also an expectation that it could serve as a hedge like gold in the future. On the 9th (local time), Rex Lai, COO of OKX Global, said in an interview with The Block, "The claim that Bitcoin is decoupling from traditional markets is premature," adding, "While its correlation with stocks is weakening, it still shows signs of being swept by macroeconomic conditions." He further stated, "On the other hand, gold is fulfilling its role as a hedge against geopolitical instability." However, there is also an opinion that Bitcoin could become a hedge like gold in the future. Nick Luck, Director of LVRG Research, said, "Bitcoin is currently in the status of a risk asset," but added, "If Bitcoin's ultimate value is reflected in the market, it will serve as 'digital gold' in the future." As of 7:45 PM, Bitcoin is trading at $77,114, down 2.42% from 24 hours ago, based on the Binance USDT market.
Cryptocurrency exchange Kraken is set to launch a cryptocurrency debit card in partnership with Mastercard. On the 9th (local time), Cointelegraph announced on X, "Kraken and Mastercard have formed a partnership," adding, "Users in the UK and Europe will be able to use cryptocurrencies at over 150 million merchants worldwide." The cryptocurrency debit card being launched will be available in both physical and digital forms.
An analysis has emerged suggesting that if Strategy sells Bitcoin (BTC) to repay some of its debt, the market could experience a 5% to 10% decline. However, the likelihood of an actual sale is considered low. On the 9th (local time), Odaily reported, "Strategy indicated in a report that if Bitcoin prices continue to fall, they might sell some Bitcoin to cover interest, dividends, and debt repayment," adding, "If some debt ($1 billion) is repaid in the current situation, 12,800 BTC could be sold." It continued, "This represents 2.4% of Strategy's Bitcoin holdings. If this amount is released into the market, a 5% to 10% price drop is expected." Furthermore, "To cover only short-term expenses such as annual interest and dividends ($18.13 billion), selling 2,318 BTC would suffice," noting, "This is 0.5% of the total holdings, and the market impact would be minimal." Additionally, "If all existing debt ($8.22 billion) is repaid, a sale of 105,000 BTC (20% of total holdings) is expected, and Bitcoin prices would plummet," it added. Moreover, "Considering the continuous decline in Bitcoin prices and the poor performance of the core business, data analytics software, selling Bitcoin might become an unavoidable reality," it assessed, "It is necessary to closely monitor Strategy's actions." Nevertheless, the media pointed out that the likelihood of Strategy actually selling Bitcoin is limited. The media stated, "This is not the first time the possibility of Bitcoin sales has been mentioned in a report," adding, "Similar possibilities have been mentioned in previously submitted reports." It also cited △Michael Saylor's 48% voting power making it difficult to pass a sale proposal △the availability of sufficient countermeasures such as additional bond and stock issuance unlike in the past △the increasing global adoption of Bitcoin raising the possibility of price increases. Meanwhile, Strategy submitted a report (8-K) to the U.S. Securities and Exchange Commission (SEC) on the 7th (local time) stating, "A significant decline in the market value of Bitcoin could negatively impact the ability to fulfill financial obligations," and "If funding fails, Bitcoin may need to be sold to meet financial obligations." Currently, Strategy holds 528,185 BTC at an average purchase price of $67,458. The unrealized loss from Bitcoin purchases in the first quarter of this year reached $5.91 billion. As of 6:51 PM, Bitcoin is trading at $77,478, down 2.13% from 24 hours ago, based on the Binance USDT market.
21Shares has launched a Dogecoin (DOGE) Exchange Traded Product (ETP) on the Swiss Stock Exchange. On the 9th (local time), 21Shares announced on X that it had launched the Dogecoin ETP on the Swiss Stock Exchange SIX, stating that it is the only product officially approved by the Dogecoin Foundation. As of 6:27 PM, Dogecoin is trading at $0.14613 on the Binance USDT market, down 3.35% from 24 hours ago.
Global cryptocurrency exchange Binance has announced the listing of Babylon (BABY) as part of its HODLer Airdrop project. On the 9th (local time), Binance announced on its official webpage that "the 14th HODLer Airdrop project is Babylon," and that "users who subscribe to Binance Coin (BNB) on Simple Earn from March 7th 00:00 (UTC) to March 12th 23:59 (UTC) will receive BABY as an airdrop." Meanwhile, the listing of Babylon is scheduled to take place on the 10th at 19:00 (KST). In UTC, it is 10:00 on April 10th.
As global M2 (financial products issued by deposit-taking institutions, cash currency, transaction deposits, deposits under two years) has surged rapidly, an analysis suggests that Bitcoin (BTC) could rebound by following this trend. On the 9th (local time), Christopher Bendiksen, an analyst at CoinShares, stated in a report, "Historically, Bitcoin tends to hit all-time highs when global money supply surges," adding, "Since the second half of last year, global M2 has been rising sharply. We can expect a rebound in Bitcoin." He further explained, "If U.S. President Donald Trump's intended fiscal easing policies are implemented, a solid foundation for a bull market will be established," and "If major macroeconomic benefits such as low interest rates and currency issuance continue to appear, the Bitcoin bull market may not have even started yet."
An analysis has emerged suggesting that activity on Ethereum (ETH)-based decentralized exchanges (DEX) is slowing down. On the 9th (local time), Satoshi Club stated on X, "Activity on Ethereum DEX is slowing down," adding, "The number of daily unique traders, which was close to 95,000 at the end of last year, has now plummeted to about 40,000." They further noted, "This is the lowest level in 12 months." As of 5:12 PM, Ethereum is trading at $1,474 on the Binance USDT market, down 5.67% from 24 hours ago.
Despite the recent price drop, the number of addresses holding XRP has reached an all-time high. On the 9th (local time), virtual asset analyst Ali Martinez stated on X, "Despite the recent price drop, the XRP network is becoming stronger," and "The number of addresses holding at least 1 XRP is now 6.26 million, marking an all-time high." As of 4:41 PM, XRP is trading at $1.8309, down 1.70% from 24 hours ago, based on the Binance USDT market.
Over the past 7 days, a large amount of Tether (USDT) has been transferred to centralized exchanges (CEX) via the TRON (TRX) network. On the 9th (local time), IntoTheBlock stated on X, "Over the past 7 days, more than $1.2 billion USDT has been transferred to exchanges via the TRON network," adding, "This suggests that TRON is playing a significant role in the stablecoin market." They further added, "The increase in USDT inflow may indicate that investors are preparing for dip buying or unwinding long positions." As of 4:21 PM, TRON is trading at $0.2290, down 1.97% compared to 24 hours ago, based on the Binance USDT market.
Amid the United States imposing a 104% tariff on Chinese imports, it has been revealed that China is expected to hold a high-level meeting as early as today (local time) to discuss countermeasures against the U.S. tariffs. On the 9th (local time), Reuters quoted informed sources saying, "China's top leaders plan to hold a meeting as early as Wednesday (today) to discuss stimulus measures related to U.S. tariffs." Furthermore, discussions on financial market stabilization measures are also expected to take place. The media reported, "Senior officials from government agencies such as the People's Bank of China (PBOC), the Ministry of Finance, and the Ministry of Commerce will attend," adding that "the Chinese authorities are expected to report some of the meeting's content to stabilize the market and restore confidence."
Global cryptocurrency exchange Binance announced that it will delist 7 spot trading pairs including ACT/BRL. On the 9th (local time), Binance announced on its official website that it will delist 7 spot trading pairs including ACT/BRL, ALPHA/BTC, BLUR/BTC, CELR/BTC, PENGU/BNB, POND/BTC, and RUNE/BNB at 12 PM (KST) on the 11th.
There are claims that Strategy, which holds the most Bitcoin (BTC) as a single company, has left open the possibility of selling its held Bitcoin, but opinions have emerged that this is merely a common risk disclosure practice. On the 9th (local time), WuBlockchain stated on X, "Strategy specified in the report that it may sell its held Bitcoin to repay debts," adding, "This phrase is merely a common risk disclosure practice." It continued, "The same phrase was included in reports from the first quarter of last year, 2023, and prior, so it's hard to see it as a special case." On the 7th (local time), Strategy submitted a report (8-K) to the U.S. Securities and Exchange Commission (SEC) stating, "If the market value of Bitcoin falls significantly, it could negatively affect the ability to fulfill financial obligations," and "If we fail to raise funds, we may have to sell Bitcoin to fulfill financial obligations." Meanwhile, Strategy currently holds 528,185 BTC, with an average purchase price of $67,458.
In the past two days, whales have reportedly sold a large amount of Dogecoin (DOGE). On the 8th (local time), virtual asset analyst Ali Martinez stated on X, "According to Santiment data, whales have sold more than 1.32 billion DOGE in the past 48 hours." This amounts to $191.64 million (approximately 284.1 billion KRW) based on the current Dogecoin price. As of 3:14 PM, Dogecoin is trading at $0.14518 on the Binance USDT market, down 2.95% from 24 hours ago.
Bitcoin (BTC) has fallen below $79,000. As of 11:53 PM, Bitcoin is trading at $78,951 on the Binance USDT market, down 0.11% from 24 hours ago.
BlackRock has selected Anchorage Digital as its partner for virtual asset (cryptocurrency) custody. According to The Block on the 8th (local time), Anchorage Digital announced in a statement, "BlackRock has selected Anchorage Digital as a partner to support spot virtual asset ETFs and virtual asset custody." Robert Mitchnick, BlackRock's head of virtual assets, said, "There is increasing demand for BlackRock's virtual asset-based investment products. We needed to select additional custody partners," and added, "We were looking for a custody firm focused on institutions, and Anchorage Digital met all the conditions." BlackRock's existing custody partner is Coinbase. Meanwhile, BlackRock is the issuer of the world's largest Bitcoin spot ETF, IBIT, with assets under management (AUM) amounting to $44 billion.
The United States is prioritizing tariff negotiations with South Korea and Japan. According to Walter Bloomberg, an American economic news account, Kevin Hassett, the White House economic advisor, stated, "We are prioritizing Japan and South Korea in tariff negotiations." Previously, U.S. Treasury Secretary Scott Besant mentioned that "about 70 countries have requested negotiations related to global trade tariffs."
Amid the intensifying global trade war and increasing volatility in the risk asset market, there is an opinion that such macroeconomic conditions could act as a positive factor for virtual assets (cryptocurrencies). On the 8th (local time), Richard Teng, CEO of Binance, stated on X, "The resurgence of trade protectionism has caused significant volatility in the global asset market, including virtual assets," but added, "In the short term, investor sentiment may decrease, but in the long term, it could become a factor that amplifies interest in virtual assets." He explained that as conflicts between countries intensify, more investors will focus on decentralized virtual assets. He further added, "Many investors still assess that virtual assets, including Bitcoin (BTC), have resilience to the macro environment."
Ripple has acquired the multi-asset prime broker 'Hidden Road' for $1.25 billion. A prime broker is an intermediary institution that provides comprehensive financial services such as clearing, securities lending, and leverage trading execution for large investors. According to Reuters on the 8th (local time), Ripple acquired Hidden Road for $1.25 billion. As a result, Ripple has become the only virtual asset (cryptocurrency) company to own and operate a prime broker. Furthermore, they conveyed their vision to grow Hidden Road into the world's largest non-bank prime broker. The expansion of the use of Ripple's stablecoin RLUSD is also anticipated. The media stated, "This acquisition will further expand the utility of RLUSD," adding, "Hidden Road is already using RLUSD as collateral across its products."
An analysis has emerged that XRP could reach $12.50 by the end of 2028. According to CoinDesk on the 8th (local time), Standard Chartered stated in a report, "XRP will move in tandem with Bitcoin (BTC) in terms of price increase," and predicted, "It could reach $12.50 by the end of 2028." They further explained, "The reason XRP rose about sixfold after Trump's election victory is due to the end of the dispute with the U.S. Securities and Exchange Commission (SEC) and expectations for the approval of a spot exchange-traded fund (ETF) for XRP," while also adding, "This upward trend is expected to continue." The bank particularly noted that XRP is specialized for cross-border payments. The report stated, "XRP is a useful asset for cross-border and inter-currency payments, one of the rapidly growing areas in the virtual asset sector," and added, "The outlook for the decentralized public blockchain Ripple Ledger (XRPL) is also optimistic." Jeff Kendrick, an analyst at Standard Chartered, also said, "Ripple Ledger enables traditional financial transactions to be processed on the blockchain," and added, "It could be used in many places like stablecoins in the future." He continued, "Ripple Ledger clearly has limitations such as a small number of developers and limited value creation," but added, "Other positive factors will offset these drawbacks." Meanwhile, Standard Chartered projected that XRP will reach $5.50 by the end of this year, $8 by the end of 2026, $10.40 by the end of 2027, and $12.50 by the end of 2028. As of 9:44 PM, XRP is trading at $1.93, up 7.60% compared to 24 hours ago, based on the Binance USDT market.
Over the past seven days, the perpetual futures trading volume of major cryptocurrencies has surged. On the 8th (local time), Glassnode stated on X, "The futures trading volume of major cryptocurrencies has significantly increased over the past week," and evaluated, "The situation has changed from last March when the trading volume was declining." According to the data, the Bitcoin (BTC) futures trading volume increased by 64% compared to the previous week. The leading altcoin Ethereum (ETH) futures trading volume increased by 58%, and the trading volumes of Solana (SOL) and Ripple (XRP) also increased by 58% and 78%, respectively.
Bitcoin (BTC) has surpassed $80,000. As of 9:06 PM (local time) on the 8th, Bitcoin is trading at $80,000 on the Binance USDT market, up 4.62% compared to 24 hours ago.
As the 2x leverage XRP futures exchange-traded fund (ETF) is set to launch, it has been evaluated as the first case in the market where a leverage ETF is launched first. On the 8th (local time), Bloomberg ETF analyst Eric Balchunas stated on X, "The 2x leverage product of XRP, XXRP, launches today," and noted, "It is the first XRP ETF product and the first case where a leverage product of a specific asset class appears in the ETF market first." Typically, leverage ETF products are launched after general ETF products, but in the case of XRP, the leverage product was launched first. He added, "There will be many such first cases occurring this year." Meanwhile, the 2x leverage XRP futures ETF issued by TeucriumETFs is scheduled to launch on the 8th (local time). As of 9 PM, XRP is trading at $1.96, up 10.90% compared to 24 hours ago, based on the Binance USDT market.
It has been revealed that 70 countries hope to negotiate trade tariffs with the United States. On the 8th (local time), US Treasury Secretary Scott Besant announced on X, "About 70 countries have requested negotiations related to global trade tariffs." He added, "This is part of the effort to realize President Trump's vision of a 'Golden Age of Global Trade.'"
There is a claim that Bitcoin (BTC) will become an inflation hedge like gold in the future. According to Cointelegraph on the 8th (local time), Adam Back, CEO of Blockstream, stated during a discussion at Paris Blockchain Week that "within the next 10 years, Bitcoin could partially take on gold's status as an inflation hedge," and "Bitcoin is scarce like gold. The asset adoption curve is also flowing similarly to the trend gold showed in the past." He particularly predicted that inflation would accelerate Bitcoin adoption. Back said, "The supply of major currencies like the US dollar has increased by more than 50% over the past five years," and "The increase in currency supply can undermine trust in money, promoting global Bitcoin adoption."
The United States Department of Justice is disbanding the task force (TF) 'National Cryptocurrency Enforcement Team (NCET)' that was dedicated to investigating virtual assets (cryptocurrencies). According to a report obtained by Fortune on the 8th (local time), Todd Blanche, Deputy Attorney General of the US Department of Justice, stated, "The Department of Justice is not a regulatory agency for virtual assets. However, the previous administration used the Department of Justice to pursue reckless (virtual asset) regulations," and announced, "In accordance with President Trump's executive order, the National Cryptocurrency Enforcement Team is immediately disbanded." He further emphasized that the focus should be on investigating criminals who have harmed virtual asset investors rather than investigating virtual asset exchanges and mixers. Meanwhile, the National Cryptocurrency Enforcement Team was a joint task force created during the Biden administration and has been investigating virtual asset-related incidents such as the Tornado Cash mixing protocol and North Korean hacker groups.
Despite the sharp decline in risky assets due to U.S. President Donald Trump's tariff policy, an analysis has emerged that Bitcoin (BTC)'s resilience is at an impressive level. According to The Block on the 8th (local time), Bernstein reported that "both the U.S. stock market and the virtual asset (cryptocurrency) market experienced significant declines due to President Trump's tariff policy," but "Bitcoin's resilience is impressive." It further stated, "In the past, Bitcoin showed a 50%~70% decline when macroeconomic turmoil occurred, but recently it has only shown a 26% decline," indicating that Bitcoin is gradually establishing itself as a means of risk hedging. Additionally, the report stated, "The high volatility of Bitcoin does not negate its value as a store of value," and "Bitcoin is an asset like 'gold.' It simply has higher volatility and liquidity than gold."