S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
The price of Bitcoin fell in the morning trading hours to 74,500 USD. The declines were mainly caused by a sell-off in traditional financial markets in reaction to the escalation of the trade war. Currently, Bitcoin is down 2.4% to 76,500 USD.
Bitcoin remained surprisingly high even at the close of the cash session on Wall Street on Friday. After a two-day sell-off and a 10% drop in the SP500 index, Bitcoin was still holding above the 80,000 USD level. However, over the weekend we learned that more countries are planning retaliatory tariffs, including Japan, Canada, and the European Union, if bilateral talks do not go as expected. The escalation of tensions supported a sell-off in the cryptocurrency market over the weekend, when liquidity is much lower. A strong drop in Bitcoin on Saturday and Sunday signaled a continuation of the sell-off in traditional markets. And that’s exactly what happened… We started the new week with a several-percent sell-off in U.S. index futures and as much as a double-digit sell-off in Chinese contracts.
If April were to close at current levels, Bitcoin would record its third consecutive month of declines. The drops we are currently observing are largely unrelated to the cryptocurrency sector. Source: xStation 5
Demand for ETF products linked to Bitcoin has stabilized at slightly negative levels. However, the scale of the current sell-off is negligible compared to the outflows at the beginning of March. Nevertheless, for today, we are likely to see much larger outflows. Source: xStation 5
The situation for Bitcoin does not look as drastic as for the second-largest project by market capitalization — Ethereum. We have been seeing declines for 5 months in a row, with only one of them not being double-digit. Such a situation only occurred in 2018, when Ethereum dropped for 7 consecutive months.
Ethereum (D1)
Ethereum has already lost 65% of its capitalization since the December peak above 4,000 USD. Current levels correspond to the beginning of 2023 and are only 30% above the bear market lows of 2022.
Source: xStation 5
The material on this page does not constitute financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other specific needs. All information provided, including opinions, market research, mathematical results and technical analyzes published on the Website or transmitted To you by other means, it is provided for information purposes only and should in no way be construed as an offer or solicitation for a transaction in any financial instrument, nor should the information provided be construed as advice of a legal or financial nature on which any investment decisions you make should be based exclusively To your level of understanding, investment objectives, financial situation, or other specific needs, any decision to act on the information published on the Website or sent to you by other means is entirely at your own risk if you In doubt or unsure about your understanding of a particular product, instrument, service or transaction, you should seek professional or legal advice before trading. Investing in CFDs carries a high level of risk, as they are leveraged products and have small movements Often the market can result in much larger movements in the value of your investment, and this can work against you or in your favor. Please ensure you fully understand the risks involved, taking into account investments objectives and level of experience, before trading and, if necessary, seek independent advice.
