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- Crypto Saving Expert Newsletter - Issue 140
Crypto Saving Expert Newsletter - Issue 140
Good morning! Markets are tumbling as Trump’s aggressive tariffs spark global turmoil. Both crypto and equities are deep in the red, with Bitcoin and Ethereum among the hardest hit. All eyes now turn to the Fed - will they step in?
Let’s take a deep dive into what’s happening behind the scenes with bitcoin, macro markets, and key economic events this week. 👇
This week's issue will feature technical analysis of bitcoin, Ethereum and Solana as well as important dates and key news stories.
Table of Contents
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Bitcoin’s Make Or Break Week
Bitcoin dropped to its lowest level in over five months as it tumbled down towards a key retest zone following the chaos over in TradFi.
Bitcoin
Bitcoin dropped down to its lowest level thus far this year as the stock market tumbled down in the midst of the tariff chaos.
Bitcoin reached a point of demand, which now places it in an interesting spot between a must-hold level to the downside and supply.
There is also a CME gap lurking above, waiting to be closed. As it stands, the $88,500 level is the level for bitcoin to break to the upside.
Weekly Chart
The bitcoin weekly chart tested the 50 weekly moving average on Monday, a line it has held since the high time frame rally began.
Bitcoin must reclaim $80,500 on the weekly close for this week.
To the downside, a full retest of the previous range high and potentially the origin of the rally remains a possibility.
Ethereum
Ethereum has had a complete wipeout as its weakness against bitcoin continues, slumping it down to a two-year low.
Ethereum cannot obtain any form of momentum in the market, which leaves a bleak outlook with a silver lining.
If it can hold around these levels, it could launch a charge to the upside. However, a test of the $1,300 - $1,200 region could be on the cards.
Solana
Solana dropped below $100 on Monday, reaching its lowest point in over a year.
The price has now lost the vital high time frame support zone, marking it the key pivot to reclaim to provide a bullish outlook.
To the downside, around $90 may provide a region for a bounce. If that fails, the long-awaited $70-$80 zone will come into play.
Fear & Greed Index
The Fear and Greed Index slumped into Extreme Greed this week following bitcoin’s collapse to the downside.
The Index scores 24 and is a demonstration of severe investor uncertainty around the current price action.
Important Dates
Wednesday, 9 April, 18:00 UTC - FOMC Minutes
The minutes from the Fed’s FOMC meeting in June will be released. This will provide a deeper insight into what was discussed in the meeting alongside the tone of the comments.
The market will use the minutes as a marker leading up to the next FOMC meeting.
Thursday 10 April, 12:30 UTC - US Consumer Price Index (CPI)
CPI measures inflation and is a vital economic measurement in all countries. The data is released by the Bureau of Labor Statistics and calculated using a shopping basket of goods and services.
The data is forecast at 2.6%, with the previous data at 2.8%.
Friday 11 April, 12:30 UTC - Producer Price Index (PPI)
The Bureau of Labour Statistics is also responsible for PPI, which measures the average change in commodity producers. Similar to core inflation, PPI removes volatile goods from its findings. The forecast is set at 3.6%, with the previous data at 3.4%.
Gainers
Losers
Markets in Meltdown: Bitcoin, Stocks Plunge as Trump’s Tariff Storm Triggers Global Panic
Markets are in freefall as Trump’s sweeping tariffs trigger global panic. Crypto and stocks plunge, with Bitcoin and Ethereum leading losses. Will the Fed respond?
Global financial markets are bleeding heavily to kick off the week, with cryptocurrencies and equities alike experiencing sharp losses in the wake of US President Donald Trump’s sweeping new tariffs. With investors bracing for a recession and central banks under pressure to respond, the market mood has turned decisively grim.
💥 Crypto Crashes as Tariff Shockwaves Hit
The cryptocurrency market saw a brutal sell-off over the weekend, coinciding with the US stock futures market opening sharply lower on 6 April following Trump’s tariff escalation.
🩸 Bitcoin (BTC) fell over 8% in 24 hours to trade near $75,500.
🩸 Ethereum (ETH) tanked more than 18% to a low of $1,460.
🩸 The total crypto market cap dropped by over 12.5%.
The Crypto Fear and Greed Index plummeted to 23, signalling extreme fear, as traders assessed the fallout from the tariffs.
“There’s no mystery behind the trigger,” said Charlie Sherry, head of finance at BTC Markets. “President Trump’s recent tariff talk has rattled macro markets, with global trade relations suddenly looking uncertain.”
He added that the sell-off was exacerbated by weekend illiquidity, where even moderate sell pressure can lead to large price drops.
🇺🇸 Trump’s Tariffs Slam Stocks Too
Cryptocurrencies weren’t the only victims, US stock futures and global equities also cratered.
📉 S&P 500 futures sank nearly 5%
😰 Nasdaq futures dropped 5.7%
😱 Dow Jones futures plunged over 8%
According to the Kobeissi Letter, the S&P 500 is now in bear market territory, with the US market losing an average of $400bn per trading day for the past 32 days.
“This could be the worst three-day move for US stocks of all time if futures hold,” said Tom Dunleavy, managing partner at MV Global.
🌍 Global Markets in Freefall
Markets across the world followed suit, with widespread carnage:
🇩🇪 Germany’s DAX plunged 9.4%
🇪🇺 Europe’s Stoxx 600 index dropped 5.3%
🇯🇵 Japan’s Nikkei collapsed 7.8%, reaching levels not seen since 2023
🇰🇷 South Korea’s Kospi tumbled 5%
🇭🇰 Hong Kong’s Hang Seng saw a 12% drop, its worst since 2008
🇨🇳 China’s CSI 300 fell over 7% before stabilising after a government fund stepped in
“Recent market darlings were hit hardest,” said Reuters, with defence stocks, banks, and tech leading losses.
🇺🇸 Trump: “A Beautiful Thing to Behold”
On 6 April, President Trump doubled down on his protectionist strategy, stating that the new tariffs, 10% on all countries, with higher rates for China (34%), EU (20%), and Japan (24%), are aimed at reducing the US trade deficit.
“Sometimes you have to take medicine to fix something,” Trump told reporters aboard Air Force One.
On his Truth Social platform, he wrote:
“The only way this problem can be cured is with TARIFFS… a beautiful thing to behold.”
💬 Will Bitcoin Bounce?
While the panic has rattled risk assets, some analysts see a silver lining.
BitMEX co-founder Arthur Hayes and Bitwise’s Jeff Park have both speculated that tariff-induced economic stress could lead to rate cuts and money printing, historically bullish conditions for Bitcoin.
“Global imbalances will be corrected, and the pain papered over with printed money — which is good for BTC,” Hayes said.
🔮 What’s Next?
With recession fears mounting and central banks facing pressure to intervene, investors now expect the Fed to begin cutting rates as early as May.
JP Morgan places the probability of a U.S. recession at 60%, forecasting rate cuts at every meeting through January, potentially bringing interest rates down to 3.0%.
As markets digest the fallout from Trump's trade war escalation, all eyes are now on the Fed, and on whether risk assets like Bitcoin can hold up in the face of economic shock therapy.
SEC Roundtable to Tackle Crypto Trading Rules as Deregulatory Push Gains Steam
The SEC will host a high-stakes crypto roundtable on 11 April with Coinbase, Uniswap, NYSE, and others as it rethinks digital asset regulation under Trump’s deregulatory push. Staff crypto guidance is also under review.
The United States Securities and Exchange Commission (SEC) has unveiled the lineup of prominent crypto and finance executives set to participate in an upcoming roundtable on regulating crypto trading. The roundtable is part of the agency’s broader initiative to redefine its approach to digital assets under the Trump administration.
Set for 11 April, the roundtable titled “Between a Block and a Hard Place: Tailoring Regulation for Crypto Trading” will be the second in a five-part series called the “Spring Sprint Toward Crypto Clarity”, organised by the SEC’s newly-formed Crypto Task Force.
🔍 Who’s Joining the Discussion?
The roundtable brings together key players from both crypto-native firms and traditional finance, including representatives from organisations that previously faced legal action from the SEC:
Katherine Minarik, Chief Legal Officer, Uniswap Labs
Gregory Tusar, VP of Institutional Product, Coinbase
Chelsea Pizzola, Associate General Counsel, Cumberland DRW
All three firms were previously targeted by SEC lawsuits during the Biden administration — suits that have since been dropped under President Donald Trump.
Other panellists include:
Jon Herrick, Head of Product, New York Stock Exchange
Austin Reid, Business Lead, FalconX
Richard Johnson, CEO, Texture Capital
Christine Parlour, Chair of Finance, UC Berkeley
Joining from the advocacy and legal world:
Dave Lauer, Co-founder, We the Investors
Tyler Gellasch, CEO, Healthy Markets Association
Nicholas Losurdo, Partner, Goodwin Procter (moderator)
Representing the SEC will be:
Mark Uyeda, Acting Chair
Richard Gabbert, Crypto Task Force Chief of Staff
Commissioners Hester Peirce and Caroline Crenshaw
🧱 What's on the Agenda?
The 11 April session will focus on tailoring trading regulations for crypto, potentially setting the tone for a new regulatory regime. It follows a 21 March roundtable on the legal status of crypto assets, with future sessions planned on custody, tokenisation, and DeFi.
The series signals a shift in the SEC’s approach — from adversarial enforcement to a more collaborative, discussion-driven process.
🔁 Staff Guidance Under Review
The roundtables come amid a broader reassessment of the SEC’s stance on crypto under Trump’s deregulation directive and guidance from the Department of Government Efficiency (DOGE) — led by Elon Musk.
On 5 April, acting chair Mark Uyeda announced a review of seven existing staff guidance documents, five of which deal with crypto, to determine if they should be modified or rescinded.
Among the documents under review:
The 2019 FinHub framework applying the Howey test to digital asset sales
A May 2021 risk alert regarding Bitcoin futures in investment funds
A November 2020 request for feedback on bank custody standards
A December 2022 disclosure alert related to crypto bankruptcies
A 2021 Division of Examinations alert about risks tied to digital securities
“The purpose of this review is to identify staff statements that should be modified or rescinded consistent with current agency priorities,” Uyeda said in a statement.
🧠 What This Means for the Industry
With lawsuits being dropped, guidance under review, and roundtables underway, the SEC is undergoing one of its most significant policy resets in decades. Industry insiders see this as a pivotal moment for crypto regulation in the US.
The outcome of these roundtables, mainly as they include input from firms previously in legal crosshairs, could shape the next generation of crypto oversight, trading compliance, and innovation in US markets.
Bitcoin Breaks 1 Zetahash Barrier as Miners Double Down — Even Amid Market Turmoil
The Bitcoin network just hit 1 Zetahash per second for the first time, marking a massive leap in security and decentralisation. However, this is because the BTC price has slid nearly 10% amid a global market panic.
In a historic milestone for the world’s largest cryptocurrency, the Bitcoin network’s total hashrate has officially surpassed 1 Zetahash per second (ZH/s), marking a new era of computational power and network security.
According to multiple blockchain data sources, the milestone was reached on 5 April, with mempool.space reporting a peak of 1.025 ZH/s, while BTC Frame registered 1.02 ZH/s a day earlier. Coinwarz, meanwhile, claims the network hit 1.1 ZH/s on 4 April at block height 890,915. However, the same data from Coinwarz indicates that bitcoin first crossed 1 ZH/s on 24 March.
🔄 Why Hashrate Numbers Vary
The discrepancies between data providers stem from differences in how hashrate is calculated — including variations in:
🧱 The number of trailing blocks used
⏰ Block time intervals
🧑🏫 Difficulty adjustment assumptions
⛏️ Miner and node data sources
Bitcoin advocate Jameson Lopp has previously highlighted how using just one trailing block instead of five can alter estimated hashrate by over 0.04 ZH/s. At the same time, Blockware Solutions’ Mitchell Askew noted that despite the spike, Bitcoin’s 30-day moving average hashrate remains around 0.845 ZH/s.
“Viewing the raw hashrate metric can be deceiving due to random variations in block times”.
🏗️ A Monumental Milestone for Bitcoin
Regardless of slight differences in data, hitting 1 Zetahash per second is a monumental achievement for the Bitcoin network. To put it in perspective, 1 ZH/s equals 1,000 Exahashes per second (EH/s) — a 1,000x increase from January 2016, when Bitcoin first reached 1 EH/s.
This milestone reflects:
🔐 Unprecedented network security
🔗 Increasing decentralisation
📉 Significant reduction in the risk of a 51% attack
Meanwhile, Bitcoin’s nearest Proof-of-Work competitor, Litecoin, runs at just 2.49 Petahashes per second (PH/s), about 40,000 times less powerful than Bitcoin.
🧱 Mining Arms Race Accelerates
Bitcoin’s soaring hashrate is driven by major mining firms scaling up operations with next-generation hardware and expanded sites.
“Miners are doubling down: expanding sites and plugging in more efficient machines,” said Askew. “Less efficient miners could soon be washed out unless BTC rallies again.”
Leading the charge:
📈 MARA Holdings (formerly Marathon Digital) — now boasts over 50 EH/s
📈 Foundry USA Pool and AntPool — control the largest hashrate share
📈 Other top miners include Riot Platforms, Core Scientific, CleanSpark, Hut 8 Mining, and TeraWulf
📈 At least 24 publicly traded companies now operate Bitcoin mining facilities, according to CompaniesMarketCap.com.
📉 Hashrate Soars as BTC Price Slumps
Interestingly, this peak in hashrate arrives amid a significant market pullback. Bitcoin is down nearly 10% over the last four days, currently trading at around $76,000, while US stock markets have just suffered their worst two-day loss in history, wiping out an estimated $6.6tn in value on April 3–4.
Analysts are pointing fingers at US President Donald Trump’s sweeping new tariffs, which have sparked widespread recession fears and market volatility.
🧠 What It All Means
While Bitcoin’s price may be caught in macroeconomic turbulence, the surge in hashrate paints a long-term bullish picture. It reflects growing confidence from institutional miners, technological advancement, and the relentless push to secure the network — even when prices fall.
This kind of infrastructure investment suggests that the smart money is preparing for what comes next.
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