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Crypto markets ‘relatively orderly’ despite Trump tariff chaos: NYDIG

Crypto markets have been fairly stable amid wider market panic caused by US President Donald Trump’s “on-again, off-again” sweeping global tariffs, according to a New York Digital Investment Group (NYDIG) analyst.

“Despite the carnage in traditional financial markets, the crypto markets have been relatively orderly,” NYDIG global head of research Greg Cipolaro said in an April 11 note. “Historically, in broad risk-off moves, we tend to see stresses show up in crypto markets. We have yet to see that.”

Cipolaro said crypto perpetual futures rates have “been persistently positive,” with liquidations spiking on April 6 and 7 in the days after Trump first announced the tariffs on April 2 but only to a total of $480 million, which he added “was well below other notable liquidation events.”

He noted that the price of Tether (USDT), a US dollar-tracking stablecoin widely used token in crypto trading, was below $1 but had “not experienced a sharp decline.” 

Trump unveiled a sweeping tariff regime on April 2 that lumped various levies on every country before pausing them for 90 days just hours after they came into effect on April 9 and instead charging a base tariff of 10%, besides China, which currently has tariffs of up to 145%.

Traditional and crypto markets tanked after Trump’s April 2 tariff announcement, and many assets haven’t recovered to the same level as before their unveiling.

Crypto markets ‘relatively orderly’ despite Trump tariff chaos: NYDIG

Stocks, bonds and foreign exchange volatility rates all rose after Trump’s tariffs announcement. Source: NYDIG

Over the weekend, the Trump administration caused more confusion with its tariffs, saying on April 13 that an April 11 decision to exempt many electronics from tariffs was temporary and they would still be hit with levies.

Bitcoin fares well, declining volatility to make it widely attractive

Cipolaro said that Bitcoin (BTC) didn’t escape the market volatility, “but at current prices has fared far better than many other asset classes.”

He added that Bitcoin’s volatility hasn’t risen to historic levels, unlike the traditional markets, and “has been relatively stable” despite instability instigated by the Trump administration.

“Perhaps investors are increasingly searching for stores of value not tied to sovereign countries and thus not affected by the trade turmoil.”

Bitcoin is down 22.5% from its mid-January peak of over $108,000 and has traded flat over the past 24 hours at $84,730, according to CoinGecko.

Cipolaro said the narrowing gap between Bitcoin’s volatility and other assets makes it “increasingly more appealing” to funds with risk parity portfolios — those that use risk to choose asset allocations.

He added that investors are likely reducing their risk exposure but “perhaps some reallocation of asset mix to Bitcoin is one of the reasons it has been more buoyant.”

Related: S&P 500 briefly sees ‘Bitcoin-level’ volatility amid Trump tariff war

“Risk parity funds allocating to Bitcoin can help dampen its volatility — making the asset more attractive and potentially reinforcing a virtuous cycle of increased adoption and stability,” Cipolaro said.

However, YouHodler chief of markets Ruslan Lienkha told Cointelegraph in an April 12 note that despite a wider market rebound, “technical indicators are painting a concerning picture.”

He said a “death cross,” when the 50-day moving average crosses below the 200-day moving average, is potentially forming on Bitcoin and the S&P 500.

Lienkha said the pattern is “generally considered a bearish signal for the medium term, suggesting that markets may struggle to sustain upward momentum without a clear catalyst or a stream of positive macroeconomic developments.” 

Magazine: Financial nihilism in crypto is over — It’s time to dream big again

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Roman Storm’s lawyers signal continuance if court allows hacker’s testimony

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Roman Storm’s lawyers signal continuance if court allows hacker’s testimony

Roman Storm’s lawyers signal continuance if court allows hacker’s testimony

The Tornado Cash co-founder is scheduled to go to trial on Monday, but his defense attorneys are still waiting on rulings for motions over witnesses in the case.

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Migrants deal a win for Starmer – and could help with fight against Reform

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Migrants deal a win for Starmer - and could help with fight against Reform

The bromance between Sir Keir Starmer and President Macron is so apparent – embraces all around.

This is some deft diplomacy from Sir Keir, who has been love-bombing his French counterpart ever since he became prime minister – trying to get closer ties, be it on security, on trade, and now of course on small boats.

And he has got a win today – he’s got President Macron to agree a deterrent deal.

Politics latest: Macron stokes undiplomatic Brexit row

You remember the Conservatives were trying the Rwanda plan to deter people from coming by sending them back to Rwanda, a third country, if they came here illegally.

What the prime minister has agreed with President Macron today is a big deal. It’s a one in, one out deal.

What they’re going to do is, if someone arrives here illegally, they will be sent back to France, and in return, the UK will accept a legitimate asylum seeker. It might be someone who has family ties.

More on Migrant Crisis

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How people smugglers dodge French police

It’s going to start off really small – think of it as a pilot – as they’re going to test it out, see if it works.

It might be just a handful of people being sent back, maybe just under a thousand or so by the end of the year. But they will hopefully, for the prime minister, scale it up and it could become a real deterrent.

Read more from Sky News:
Ex-Tory chairman defects to Reform

Farage hits back at Macron over Brexit row

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Farage reacts to UK-France migrant deal

I’ll leave you with just one more thought: As Prime Minister Starmer and President Macron were doing this deal today, Nigel Farage was in the English Channel documenting illegal migrants making that crossing – 79 people being picked up by Border Force, taken off a dinghy and into Dover.

Polling out this morning by Portland suggests four in 10 voters who are planning on going to Reform would go back to Labour if the prime minister tackles small boats and drives down the crossings.

There is a real political imperative for him to try to start to resolve this problem. It’s going to count at the ballot box – immigration is a top-three issue in this country when it comes to voters.

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US lawmakers to discuss crypto tax policy amid push to pass three bills

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US lawmakers to discuss crypto tax policy amid push to pass three bills

US lawmakers to discuss crypto tax policy amid push to pass three bills

The hearing notice suggested a focus on a tax framework for digital assets, but did not mention specific witnesses or policies previously proposed.

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