Spot Bitcoin, bless its little heart, is currently priced at
BTC $83 734. Volatility, they tell me, is a mere 1.1%. Only 1.1%? That’s practically catatonic. And the market cap? A cool $1.66 trillion. You know, pocket change.
Vol. 24h:
$56.54 B
Isn’t it wonderful what people do with their money?
Apparently, exchange-traded funds (ETFs) in the US – those things I pretend to understand – recorded a net inflow of $220.7 million on April 2. Meanwhile, the rest of us were busy panicking about President Trump’s new trade tariffs. Because, you know, what’s a casual global economic meltdown compared to checking if my sourdough starter is still alive?
On Wednesday, April 2, Trump announced a 10% tariff on imports. A baseline tariff, no less. It sounds so… official. And reciprocal tariffs on, well, basically everyone. China, that other giant in the room, got slapped with another 34% tariff. Because nothing says “economic diplomacy” like a good old-fashioned tariff war. 🙄
Despite the tariffs, the spot BTC ETF in the US saw $220 million in net inflow. So, either people are really bad at reading the news, or they’re convinced Bitcoin is the answer to all our problems. I suspect it’s a bit of both. ARK & 21Shares’ ARKB and Fidelity’s FBTC, bless their acronym-laden hearts, led the charge with $130.1 million and $118.8 million in inflows, respectively. Who names these things?
BlackRock’s IBIT fund, however, registered a net outflow of $115.9 million. Someone’s not feeling the love. Or maybe they finally realized they needed to pay their property taxes. Either way, ouch.
The total BTF ETF trading volume reached $2.51 billion with a cumulative net inflow of $36.24 billion. Numbers, numbers everywhere, and not a drop to drink. 😵💫
Spot Ethereum, currently priced at $1 822. The volatility is 2.5% – they tell us.
Market cap:
$219.63 B. Vol. 24h:
$25.27 B
Showed a negative reaction to the Trump tariffs. These investment products saw a net outflow of $51.3 million on April 2.
Grayscale’s ETHE and BlackRock’s ETHA recorded $31.1 million and $20.2 million in outflows, respectively. Ouch! 🤕
Tariffs and Bears
Trump’s tariffs on the US trade partners brought bearish momentum to the digital asset market. The global crypto market capitalization declined by 0.96% to $2.68 trillion, according to CoinMarketCap data. I’m told a person should care about such things.
Bitcoin slightly dipped to $83,350 with a market cap of $1.65 trillion. Slightly? As if my checking account “slightly” dipping after a trip to Target.
Ethereum, the leading altcoin, dropped 2% in the past 24 hours and is trading at $1,820 at the time of writing. I can’t wait to see what happens in the next 24 hours. ⌚
On the other hand, major US stocks like the S&P 500 and Dow Jones Industrial Average gained 0.67% and 0.56%, respectively. So, some people are happy. Must be nice. 😒
While the new US trade tariffs haven’t brought a bearish storm to the crypto market, they could still prevent the market from gaining strong bullish momentum unless a major catalyst drives another bull run. Or, you know, unless I finally win the lottery and single-handedly prop up the entire economy. Don’t hold your breath. 😮💨
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2025-04-03 14:17