Wintermute shocks the scene, Bitcoin stages a fragile recovery, meme coins $DOGINME and $KEYCAT surge after Coinbase listings, and Trump’s looming tariffs keep the world on edge. All are in the Daily Market Recap today.
Daily Market Recap – Main News
1. Wintermute Shocks the Market:
Wintermute, a leading market maker, is suspected of triggering a massive sell-off of $ACT and various memecoins on the BNB chain, driving prices down by 50% in mere hours on April 1.
The X community is in an uproar, with some speculating that Binance’s leverage adjustments played a role; Wintermute remains silent, offering no official statement yet.
2. Bitcoin Recovers
Bitcoin ($BTC) rallied back to 85,000 USD overnight (April 1) after slipping below 83,000 USD over the weekend, offering a glimmer of hope to traders.
Crypto Fear & Greed Index signals “Extreme Fear” persists, fueled by uncertainty over Donald Trump’s tariff policy, which was revealed today (April 2) and could push prices lower if it disappoints the market.
3. Memecoin Chaos
- $DOGE fell 1.5% amid risk-off sentiment and BlackRock’s rumored USD concerns.
- $SOL (Solana) dropped 4-5%, yet $FARTCOIN holds hype on X.
- $DOGINME soared 60% and $KEYCAT rose 32% after Coinbase listings.
- Wintermute’s sell-off has rattled trust, casting a shadow over the memecoin frenzy.
4. Stablecoins Rise
Gold-pegged tokens like $PAXG and $XAUT pushed their market cap beyond 1.4 billion USD in March, highlighting a shift to safe-haven assets as volatility rocks the market.
Stablecoins like USDC also gain traction, which is supported by interest-bearing reserves and stands out as a steady option amid the ongoing crypto turbulence.
5. Trump and Tariffs
Donald Trump is set to detail his tariff policy today (April 2), a make-or-break moment for markets: steep tariffs could sink BTC below 80,000 USD and drag altcoins down, while a lenient approach might fuel a recovery. The X community is on tenterhooks, bracing for the impact of this pivotal announcement.
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