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Another shocking day across traditional markets as China retaliates to Trump’s Liberation Day tariffs by slapping 34% tariffs on all US goods. The escalation in trade tensions has sparked a sharp sell-off across major asset classes.
Traditional markets bled out: the S&P 500 dropped 6% and now sits just 2.5% away from entering a technical bear market. The Nasdaq 100 has officially entered one, after also shedding 6%. Gold slid 2.5%, silver tumbled 7%. So, Bitcoin must have suffered too, right? Wrong.
Bitcoin has now posted two consecutive green days, even as both risk-on and risk-off assets falter. It’s another strong signal that BTC is increasingly being seen as the hedge and safe haven of choice in this escalating trade war—Bitcoin, after all, has no tariffs.
We anticipated this to be the most volatile week of the year so far, and it has easily delivered—now on track to be the most volatile since March 2020. Recession odds are climbing fast. According to Polymarket, there’s now a 60% probability of a 2025 recession. JP Morgan have echoed the sentiment, stating they now expect one this year. The traditional markets’ Fear & Greed Index sits at 4—near rock bottom. Meanwhile, Bitcoin has clawed its way out of extreme fear, now printing a 30, firmly in regular fear territory.
The past two days have showcased Bitcoin’s relative strength against broader macro stress. This could be the early stages of a true decoupling—Bitcoin’s evolution into the ultimate safe haven asset, one that stands apart from traditional markets and policy cycles. Still early days, but this week has given investors a glimpse of what that might look like.
Stormrake Spotlight: Ripple (XRP) ($2.12)
Stormrake Spotlight: Ripple (XRP) ($2.12)
XRP is up 3.21%, continuing its bounce off the bottom of the range—a positive sign for the bulls. But XRP is now pushing into significant resistance. The CPR levels and 21EMA at ~$2.20 are likely to pose a challenge in the short term.
BTC/USD Key Levels and Price Action:
BTC/USD Key Levels and Price Action:
Bitcoin has gained over the past 24 hours, flipping momentum back toward the bulls while maintaining a neutral structure. BTC continues to find solid footing at $81.6K, but faces resistance at the CPR level of $84.8K. We’re back in the mid-March range, with BTC stuck between CPR resistance and lower support at $81.6K.
BTC Total ETF Flows for 4 April: $ + 64.9 million
(ETF flow data is sourced from https://farside.co.uk/btc/ and reflects figures at the time of writing.)
*All prices are denominated in USD unless stated otherwise*
Written by Alexandar Artis
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