Daily Crypto Signals: Bitcoin Surges Above $82,000 on Tariff Pause, XRP Rallies on ETF Launch
The cryptocurrency market rebounded sharply after President Trump announced a 90-day tariff pause for non-retaliating countries, with BTC
Live BTC/USD Chart
The cryptocurrency market rebounded sharply after President Trump announced a 90-day tariff pause for non-retaliating countries, with Bitcoin surpassing $83,000 and XRP gaining 13% to reclaim the $2 level, bolstered by the successful launch of the XXRP ETF on NYSE Arca.
Crypto Market Developments
On April 9, following US President Donald Trump’s announcement of a 90-day delay on “reciprocal tariffs” for nations that do not retaliate with counter-tariffs, cryptocurrencies markets underwent a notable turn-about. The ruling excluded China, where tariffs were raised to 125%, therefore generating a mixed bag of geopolitical consequences for the crypto sector.
The tariff suspension set off an instantaneous positive reaction in both traditional and cryptocurrency markets; the S&P 500 rallied almost 7% and Bitcoin surged 5% in less than an hour. After several days of downward pressure mostly related to world trade concerns, this market change came as a pleasant release.
The SEC approved options trading on several spot Ethereum ETFs—BlackRock’s iShares Ethereum Trust (ETHA), Bitwise Ethereum ETF (ETHW), Grayscale Ethereum Trust (ETHE), and Fidelity Ethereum Fund (FESH)—in other noteworthy changes. By providing institutional investors with more means to expose to the asset and hedge against market volatility, this action is expected to increase Ether’s investment attractiveness.
Following same filings from Bitwise and Grayscale, crypto asset management 21Shares also registered with the SEC to develop a spot Dogecoin ETF. The business also revealed a joint venture with House of Doge to develop a fully supported Dogecoin exchange-traded product on SIX Swiss Exchange.
Bitcoin Surges to $83,000 on Tariff Delays
After Trump’s tariff declaration, Bitcoin BTC/USD had an amazing comeback, rising about 9% to retest the $83,000 level. Most of the losses suffered earlier in the week were reversed by this rally, which also helped BTC approach validating a declining wedge formation that has been developing on its daily chart since December 2024.
If the bitcoin can clearly break above the upper trendline of this pattern about $83,000, technical analysts point to the $100,000 price goal as “back on the table”. On-chain data indicates that the average price at which present, active investors bought their Bitcoin is currently testing a vital support zone between $65,000 and $71,000.
Given worries about the US 10-year Treasury yield volatility, Bitcoin derivative measures show traders remain wary despite the price increase. Although the BTC futures premium momentarily exceeded the neutral 5% mark, it lost steam as investors were wondering about whether the Federal Reserve will cut interest rates all through the year.
SEC Approves Options on Spot Ethereum ETFs
The SEC’s permission of options trading for spot Ether ETFs gave Ethereum ETH/USD a big boost. The regulatory green light lets exchanges list and trade options contracts on these funds, hence perhaps increasing the investment attractiveness of Ether among institutional buyers.
As well as a hedging tool to fit their demands in relation to Ether products and positions, options on ETFs give investors another, rather less-cost investing instrument to expose to spot Ether. After the regulator approved spot Ethereum ETFs last July, the SEC said that this clearance marks a significant turning point in increasing Ethereum’s investment attractiveness.
BlackRock’s ETHA now holds $1.8 billion in net assets, down 56% since the beginning of the year, hence inflows into spot Ether funds have been rather subdued compared to Bitcoin funds. Currently trading at $1,632, Ethereum is finding it difficult to pick up pace despite encouraging legislative changes.
XRP Rallies on Launch of XRP ETF
Rising 13% to trade above the $2 barrier, XRP XRP/USD saw one of the most extreme market swings. Both the successful debut of the XXRP ETF on the New York Stock Exchange (NYSE) Arca and the favorable macroeconomic news from Trump’s tariff delay announcement drove this movement.
Designed to magnify XRP’s daily returns, the 2x leveraged ETF drew first-day trading of $5 million. With the continued volatility in crypto and global markets, Bloomberg ETF analyst Eric Balchunas dubbed this a “commendable achievement” placing XXRP in the top 5% of new ETF debuts.
Technical analysts warn despite the encouraging news that XRP’s price chart still exhibits alarming trends. XRP has been developing a possible declining triangle pattern since December 2024, marked by a flat support level along with a downward-sloping resistance line. At $2 on April 6, the price momentarily went below the triangle’s support line, maybe indicating a break-through action that would see XRP plummet toward $1.20 by the end of April.
21Shares Files for a Spot Dogecoin ETF
The filing of 21Shares with the SEC to launch a spot Dogecoin exchange-traded fund helped Dogecoin DOGE/USD. Using Coinbase Custody as the custodian, the proposed 21Shares Dogecoin ETF would aim to follow the price of the popular memecoin.
House of Doge, the business division of the Dogecoin Foundation, will help 21Shares with fund promotion. Reflecting increased institutional interest in the memecoin sector, this filing follows similar initiatives by rivals Bitwise and Grayscale.
With a market capital value of $24.2 billion right now, DOGE ranks ninth among all the cryptocurrencies. While the betting site Polymarket presently offers approval chances of 64%, Bloomberg ETF experts James Seyffart and Eric Balchunas have given a 75% possibility that the SEC would approve a spot Dogecoin ETF this year.
Currently trading at $0.1571, dogecoin is under close observation by investors to see how these institutional changes can affect its price path.
Aave Spikes on Token Buyback Proposal
After its tokenholders largely supported a governance proposal to start purchasing back the DeFi protocol’s governance token, Aave’s AAVE/USD token price surged 13%. Approved with more than 99% approval, the plan lets the protocol repurchase $4 million in AAVE tokens—enough for one month of buybacks.
This action is said to be a “first step” toward a larger scheme whereby $1 million AAVE tokens will be weekly repurchased for six months It also reflects the most recent example of DeFi protocols using buyback systems in response to tokenholder requests for more value accrual.
With total value locked over $17.5 billion, Aave is now Web3’s most often used DeFi protocol. With an anticipated annualized fee income of $350 million, DeFi is also among its main fee collectors. With the buyback plan approved, AAVE’s market valuation has surged to more over $2.1 billion; the token trades for $140.82.
Part of a larger tokenomics overhaul including new revenue allocation for AAVE tokenholders, improved safety features for users, and the establishment of a “Ave Finance Committee,” as suggested by the Aave Chan Initiative in March, the repurchase initiative is part of.
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