Bitget Daily Digest (4.23)｜Trump changes stance to calm market fears, Musk to significantly reduce government involvement

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远山洞见2025/04/23 01:44

By:远山洞见

Bitget Daily Digest (4.23)｜Trump changes stance to calm market fears, Musk to significantly reduce government involvement image 0

Today's Preview

1. PancakeSwap plans to implement CAKE Tokenomics 3.0

2. U.S. EIA crude oil inventory for the week ending April 18 (in thousand barrels) will be announced today, with a forecast of 51.5

3. Google starts implementing MiCA crypto advertising rules in the EU from today

4. Argentine Congress officially launches investigation to determine the relationship between government officials and Libra token

5. Karrat (KARRAT) unlocks approximately 21.25 million tokens, accounting for 8.79% of the current circulating supply, valued at approximately $1.3 million

6. Murasaki (MURA) unlocks approximately 10 million tokens, accounting for 1.00% of the current circulating supply, valued at approximately $4 million

Key market highlights

1. U.S. President Trump indicates there won’t be up to 145% tariffs on Chinese goods, stating a significant reduction but not zero, while stressing no hard stance against China. Meanwhile, the White House is accelerating efforts with Japan and India to reach a broad trade framework to avoid massive U.S. tariffs. Although a final agreement will take months, U.S. officials seek to sign a "memorandum of understanding" or "framework agreement" as an interim. A source noted these appear as "preludes to agreements." Concurrently, Trump expressed no intention to fire Federal Reserve Chair Powell, despite disappointment over the Fed not cutting interest rates faster, stating "the stock market is doing well."

2. U.S. Commerce Secretary Howard Lutnick's son, Brandon Lutnick, leads financial services firm Cantor, collaborating with SoftBank, Tether, and CEX in forming a Bitcoin investment consortium exceeding $3 billion. This consortium combines partners' multi-billion dollar crypto assets, aiming to replicate MicroStrategy's crypto investment path. This comes as the Trump administration signals friendly digital asset policies, injecting new confidence into the market

3. On-chain data yesterday showed Galaxy Digital, led by Mike Novogratz, undergoing major asset restructuring: transferring 65,600 ETH (approx. $105 million) to CEX over the past two weeks and withdrawing 752,240 SOL (approx. $98.37 million), possibly indicating a major shift from ETH to SOL. According to Arkham Data, Galaxy still holds approx. $87.9 million in ETH and $23.86 million in SOL. Meanwhile, the Solana ecosystem continues strong expansion, with DEX trading volume exceeding $500 billion over three months, far surpassing Ethereum's $400 billion, and on-chain active addresses surpassing 220 million. The data hints at a quiet shift in crypto fund trends.

4. Tesla CEO Elon Musk anticipates significantly reducing time spent on the Department of Government Efficiency (DOGE) in May, dedicating more time to Tesla. Musk stated: "As long as the President is willing, I will spend 'one or two days' per week on the Department of Government Efficiency." There has been some opposition regarding work involving the department; it has made progress on waste and fraud issues, and the work of the Department of Government Efficiency is "basically complete."

Market Trends

1. $BTC surges strongly on macro news, approaching $94,000; market broadly up; AI sector and Solana ecosystem leading gains; AI Agnet $ZEREBRO doubled; $CHILLGUY $STNK among top gainers within the platform

2. Hopes of eased trade relations contribute to U.S. stock market rebound, Nasdaq up nearly 3%, Chinese stocks strengthen, Alibaba rises over 5%, gold drops over 3% intraday

Bitget Daily Digest (4.23)｜Trump changes stance to calm market fears, Musk to significantly reduce government involvement image 1

3. In Bitget's BTC/USDT liquidation map, based on the current 93,430USDT, a drop of 1,000 points to around 92,430 could lead to long position liquidations exceeding $348 million. If it rises 1,000 points to around 94,430, short position liquidations would exceed $155 million. Long position liquidations far exceed short positions, suggesting reasonable leverage control to avoid large-scale liquidation amidst market changes

Bitget Daily Digest (4.23)｜Trump changes stance to calm market fears, Musk to significantly reduce government involvement image 2

4. In the past 24 hours, BTC spot inflows were $4.6 billion, with outflows of $4.2 billion, net inflow of $400 million

Bitget Daily Digest (4.23)｜Trump changes stance to calm market fears, Musk to significantly reduce government involvement image 3

5. In the past 24 hours, contracts for $FIL $LTC $BABY $MAGIC $PAXG showed net outflows leading, possibly indicating trading opportunities

Bitget Daily Digest (4.23)｜Trump changes stance to calm market fears, Musk to significantly reduce government involvement image 4

Institutional Insights

Greeks.live: Community cautiously bullish, some traders see next target at $93,000/$100,000

Original link: https://x.com/BTC__options/

Standard Chartered: Concerns over Fed independence may push BTC to new highs

Original link: https://x.com/DeItaone/

QCP: Bitcoin and gold are becoming major beneficiaries of capital exiting USD risk assets

Original link: https://t.me/QCPbroadcast/1441

News Updates

1. Trump: Significantly reduce tariffs on China

2. Hong Kong legislator Kenneth Wong urges accelerated legislation on virtual asset trading to prevent JPEX-type fraud

3. Oregon Attorney General sues Coinbase, alleging illegal sale of 31 "crypto securities"

4. Politico: White House and Japan, India "close" to reaching tariff agreement, but finalizing may take months

5. Putin proposes ceasefire in current frontline area, first indication of possibly abandoning highest military demands

6. Tesla holds $951 million in cryptocurrencies, without reducing cryptocurrency positions

Project Updates

1. Babylon: Foundation updates airdrop reward eligibility rules in response to some community members’ concerns over staking migration completion

2. Hyperlane's actual total circulation market cap far exceeds current data on the BSC side, user airdrop now claimable

3. Aave V3 adds Ripple RLUSD stablecoin to support core lending services in the Ethereum market

4. Over $120 million worth of LINK has flowed out of exchanges over the past 30 days

5. Tether issues 1 billion USDT on the TRON network

6. Solana sees 29.1 million active addresses over the past 7 days, leading all chains

7. IOTA: Rebased network plans to upgrade on May 5

8. XRP Ledger Foundation discloses a "serious vulnerability" in the latest version of the XRPL JavaScript library

9. Astra Fintech establishes a $100 million fund to promote Solana ecosystem development in Asia

10. ZKsync developer Matter Labs accused by BANKEX of intellectual property theft

Highlights on X

1. Jason Chen: Vitalik’s proposal to replace EVM triggers internal strife within Ethereum, foundation "power struggle" begins?

Ethereum founder Vitalik recently proposed migrating the execution layer from Solidity EVM to RISC-V architecture, seen as a significant radical technical reform, yet the event highlighted a larger issue—power dynamics within the Ethereum Foundation.

1）Vitalik subtly criticized Justin’s Beam Chain strategy in the article preface, stating his new proposal is more ambitious, hinting at a "subduing" of the chief scientist’s influence.

2）Newly appointed foundation director Tomasz later communicated both an acknowledgment of Vitalik’s influence and a subtle expression for limiting his interference with foundation operations, urging a return to focus on technical research.

This series of actions is viewed as part of the "consensus vs execution" pathway disagreements within the Ethereum ecosystem, reflecting internal discontent with Vitalik’s centralizing tendencies. Although Vitalik is disinterested in money, his strong control over "technical discourse" and "pathway orthodoxy" has elicited widespread anxiety and potential opposition among core ecosystem members.

Original link: https://x.com/jason_chen998/status/1914510902285766693

2. Crypto_Painter: Bitcoin enters sentiment game stage above liquidity vacuum

As Bitcoin surpasses $90,000, all accumulated short liquidity is wiped out in the short term, with price entering a "liquidity vacuum zone" lacking fuel for continued acceleration; the current bull-bear battle hinges on retaking short positions at a high point. Without a counterpart, bull FOMO could trigger a pullback, leading the market into a waiting phase for a new direction, indicating noticeable trend neutrality.

Original link: https://x.com/CryptoPainter_X/status/1914820759526236183

3. Aylo: $HYPE among few altcoins with higher prices as BTC reaches 90k again

Compared to March 7 when BTC last reached $90,000, $HYPE is one of the few altcoins with a higher current price, due to reasons including its product-market fit (PMF) and sticky app, conducting token buybacks daily; as more users explore and participate in the HyperEVM ecosystem, additional speculative buying flows in, forming active inflows; additionally, much of the early $HYPE airdrop has exchanged hands, structuring more favorable for sustained price performance.

Original link: https://x.com/alpha_pls/status/1914697602500640900

4. Honest Mike: ETH as the doomsday chariot of the new era, post-rally signals a top

When you notice ETH suddenly begins to surge, even outpacing BTC and SOL, be cautious—the market may be about to turn downwards. ETH now resembles past ETC as a vehicle for "post-rally betting" at the end of the fund rotation cycle. Strong assets command collective market attention during the main rally phase, and once the main rally fails, weak assets attract inflows for a "gamble on a post-rally." ETH being the doomsday chariot doesn’t signify strength, but rather an end to a strong trend. Mentions of "e-guard" abound, but defenseless operations should be avoided.

Original link: https://x.com/Michael_Liu93/status/1914231493674909786

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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