Daily News | Reciprocal Tariffs Hit Global Risk Asset Markets, BTC Is Getting Closer To The Bottom Range

Crypto Daily Digest: Strategy may sell BTC, Aave launched token repurchase mechanism

According to Farside Investors data, the total net outflow of US Bitcoin spot ETFs yesterday was $326 million, of which BlackRock IBIT had an outflow of $253 million, and other BTC ETFs had mainly small net outflows. Yesterday, only Fidelity FETH had an outflow of $3.29 million from Ethereum spot ETFs, and other ETH ETFs had no inflows or outflows.

According to Alternative data, today’s crypto Fear & Greed Index is 18 (yesterday’s was 24), and market sentiment continues to be frustrated and is in a state of extreme panic.

Strategy may be forced to sell Bitcoin to repay debts, breaking its “never sell” promise

According to the 8-K form submitted by Strategy (formerly MicroStrategy) to the U.S. Securities and Exchange Commission (SEC) on April 7, if the price of Bitcoin continues to fall, Strategy may be forced to sell its Bitcoin holdings to repay debts, breaking Michael Saylor’s promise of “never selling Bitcoin.” In its Form 8-K, Strategy stated, “Because Bitcoin constitutes a substantial portion of the assets on our balance sheet, if we are unable to obtain equity or debt financing on favorable terms (or at all) in a timely manner, we may be forced to sell Bitcoin to meet our financial obligations and may have to sell it at less than cost or at other unfavorable prices.”

Since Trump won the election in November 2024, Strategy has bought 275,965 BTC ($25.73 billion) at an average price of $93,228, and this part has suffered a floating loss of $4.6 billion. According to StrategyTracker data, Strategy currently holds 528,185 BTC, with an average cost price of $67,458 and a value of $40.119 billion.

Aave launched token repurchase mechanism, with first-month repurchase budget reaching $4 million

According to Aave’s official governance page, Aave DAO’s proposal to authorize the Finance Committee (AFC) to grant $4 million in aEthUSDT to launch the first phase of the Aavenomics buyback and distribution program was approved. The program aims to buy back AAVE from the open market and distribute it to the eco reserve, thereby enhancing governance incentives and protocol health.

This initial authorization will support repurchase operations for approximately one month, while leaving buffer time for the future deployment of new Aave Swapper contracts. The full program is expected to continue to advance at a pace of up to $1 million per week over six months. The proposal enables the AFC to begin uting the first phase of the repurchase program, approving $4 million in aEthUSDT for approximately one month of AAVE repurchases.

The impact of reciprocal tariffs caused the global stock market cap to shrink by $10 trillion

According to Bloomberg statistics, the so-called “reciprocal tariffs” announced by the United States have severely impacted the international capital market. Since the 3rd of this month, the market cap of global stocks has shrunk by $10 trillion, slightly more than half of the EU’s GDP. Among them, the US stock market itself has suffered heavy losses, and the market cap of the seven major technology giants in the US stock market has evaporated by a total of about $1.65 trillion during this period. Among them, Apple’s product manufacturing is highly dependent on the US overseas supply chain. In the past four trading days, its stock price has fallen by nearly 23%.

Impacted by the policy impact, panic spread in the crypto market. The crypto sector generally fell by about 3% to 10% in 24 hours. Among them, ETH once fell below $1,400, hitting its lowest point since March 2023. BTC fell below the $75,000 mark again.

Market Trends: RFC’s market cap once exceeded $60 million, and BTC is getting closer to the bottom range

Market Hotspots

The Solana chain meme coin RFC has soared recently, with its market cap exceeding $60 million at one point. RFC stands for Retard Finder Coin. The token was issued on Pumpfun at the end of March and has increased more than a thousand times so far. RFC’s official Twitter account has received many interactions from Musk himself in recent days, which has brought a brief exposure to the RFC token. Meme coins themselves have no value, and relying solely on the exposure generated by celebrities cannot obtain long-term value support.

The RWA concept token PLUME performed strongly during the day. According to market news, asset management agency Apollo announced a strategic investment in Plume. This investment was made after Plume announced a $20 million Series A financing at the end of last year. In addition, Plume co-founder stated that the Plume Network mainnet is scheduled to be launched this quarter.

Mainstream Coins

BTC’s intraday volatility intensified, falling from $81,000 to around $75,000 again, and BTC ETF has experienced net outflows for four consecutive days; today’s AHR999 index is 0.63, getting closer to the index bottom-fishing range;

ETH followed the market ups and downs, falling below the $1,400 mark during the day, and the ETH/BTC exchange rate fell below 0.019, continuing to hit a new low in nearly four years;

Altcoins generally fell, and the market lacked hot spots.

Macro News: US stocks opened high and fell, Nasdaq and S&P 500 entered a bear market

Although the three major U.S. stock indexes rose by about 4% during the session, they ultimately failed to break the trend of opening high and closing low. As of the close, the Dow Jones Industrial Average fell 0.84% ​​to 37,645.59 points; the S&P 500 fell 1.57% to 4,982.77 points, closing below 5,000 points for the first time since April last year; and the Nasdaq Composite fell 2.15% to 15,267.91 points.

This week, both the Nasdaq and the S&P 500 have entered a bear market. In the medium and long term, Wall Street is wondering whether this is a one-off bear market or the beginning of a cyclical bear market. Analysts from Goldman Sachs’ strategy team said that as the risk of economic recession increases, the sell-off of U.S. stocks is likely to evolve into a more persistent cyclical bear market. Unlike a one-off event-driven shock, a cyclical bear market reflects changes in the economic cycle itself.