Cryptocurrency Market Cap Plunges by Nearly 10%, Over $800 Million Liquidated in 12 Hours

April 9th: In the most severe market sell-off witnessed in years, safe-haven assets are currently showing no significant movement. With the implementation of tariff parity today, US Treasury bonds witnessed a sharp decline, and the 10-year Treasury yield reached the highest level since February. The price of gold rose during the day but remained on a downward trend for the week. Global stock markets hit a one-year low during this period. The US dollar also weakened. Although some observers have pointed out that German bunds and currencies such as the Japanese yen may become new safe havens, they also face risks in terms of liquidity, their own economic situations, and currency policy prospects. Pilar Gomez-Bravo, the Co-Chief Investment Officer for Global Fixed Income at MFS Investment Management, said: "If you aim to protect your capital and achieve a certain level of return, you don't have a large number of assets to choose from." The sell-off of US Treasury bonds is the most obvio

April 9th: Due to Trump's tariff threats leading to market panic, the US Treasury market witnessed a wave of basis trading unwinding, resulting in a rapid increase in long-term yields. On Monday (April 7th), in the face of tariff fears, XRP briefly dropped to $1.61; during the Asian session on Tuesday, after the market digested Trump's policies and positive ETF news, XRP quickly rebounded to $2, indicating that digital assets still possess appeal. Bitunix analyst proposes: The unwinding of basis trades triggered a surge in US bond yields. In the short term, safe-haven funds may continue to fluctuate in the crypto market. The technical performance of XRP in the $1.74–$2 range will determine the next move. It is advised that investors flexibly utilize the $1.74 support and $2 resistance levels and practice strict risk management.

On April 9th, US stock index futures saw a rebound. Nasdaq futures rose by 0.1%. S&P 500 index futures and Dow Jones futures briefly regained all their losses. (Oriental Fortune Network)

On April 9th, the yield of the UK's 30-year government bond rose above 5.5%, hitting a new high since 1998 and seeing an intraday increase of 15 basis points. (FXStreet)

On April 9th, according to an official announcement, in order to better protect users and maintain a high-quality trading market, Binance will conduct regular reviews of all listed spot trading pairs. It may delist certain spot trading pairs due to factors such as poor liquidity and trading volume. Based on recent reviews, Binance will remove the following spot trading pairs and cease trading: At 11:00 (UTC+8) on April 11, 2025: ACT/BRL, ALPHA/BTC, BLUR/BTC, CELR/BTC, PENGU/BNB, POND/BTC, RUNE/BNB.

April 9th. The 104% tariff imposed by the United States will officially come into effect at 12:01 a.m. Eastern Time on April 9th. As soon as the news spread, the Bitcoin market once again went through a wild ride! According to BiyaPay's market data, the Bitcoin price dropped to a low of $74,508, losing nearly 10% of its market capitalization within just 24 hours. Trump is truly persistent. 37 years ago, he purchased an entire page of The New York Times to outline his views on tariffs, diplomacy, and other matters. 37 years later, he is putting into practice what he used to advocate. This move not only poses a threat to the global supply chain but also brings new uncertainties to the cryptocurrency market. The increase in tariffs may lead to inflation or put pressure on the Federal Reserve to tighten its monetary policy, which is bearish for the crypto market. If retaliatory measures are taken in key metal refining sectors such as lithium and copper, it will directly increase the cost