Goldman Sachs Lowers U.S. Economic Growth Forecast, Raises Recession Risk

On April 9th, Glassnode stated in its latest report that the U.S. tariff announcement has exerted a significant influence on major financial markets. Several markets have hit their lowest trading volumes since March 2020. Inflows into mainstream digital assets have come to a standstill, resulting in a significantly reduced liquidity and strong headwinds. However, it is worthy of note that the selling pressure during each price dip of Bitcoin and Ethereum is demonstrating a decreasing trend, which may suggest that the short-term selling pressure is approaching exhaustion. This round of digital asset sell-off has shown a widespread decline. The total market capitalization of altcoins has shrunk from $1 trillion in December 2024 to the current $583 billion. Resonance analysis of on-chain data and technical models indicates that $93,000 is a key psychological level. Bitcoin must regain this price level to rebuild upward momentum. On the downside, the range between $65,000 and $71,000 rem

On April 9th, Mester of the Federal Reserve stated that the U.S. economic growth might decline "substantially" beneath the trend level, and the unemployment rate would rise within the year as businesses and households adjusted to higher prices resulting from new import tariffs. Mester said, "I don't have a recession baseline, but I think economic growth could be notably below the trend." He estimated a growth rate of around 2%. He stated that "two-way risks will both materialize." As higher-than-expected tariffs exerted pressure on prices, declining confidence and the recent sharp decline in the stock market might dampen spending, hitting household wealth. The rising prices would have an impact. All these factors together would lead to a slowdown in economic growth. Mester, who has a vote on interest rate policy this year, said that the monetary policy response would depend on how inflation and unemployment evolved in the coming months, whether price shocks were sustained, and whether

On April 9th, as reported by The Block, the cryptocurrency asset management company Grayscale Investments has appointed Diana Zhang as its Chief Operating Officer. According to a press release issued by the company on Wednesday, she will commence her duties on May 6th and succeed the company's former COO, Hugh Ross. Diana Zhang will report to Grayscale CEO Peter Mintzberg and will be responsible for forging more partnerships with the company's clients and facilitating the growth of the Grayscale Investments brand. Prior to joining Grayscale, Diana Zhang served as the Chief Operating Officer at BlockTower Capital, an investment firm specializing in digital assets, for a period of two years. According to her LinkedIn profile, she also held several executive positions at asset management firm Bridgewater Associates, with a work tenure of 16 years.

On April 9th. According to Tarek Mansour, the founder of Kalshi, the Federal Court of Nevada in the United States has granted Kalshi's request for a preliminary injunction. This injunction prevents the state government from interfering with Kalshi's provision of prediction market services. Kalshi expressed its gratitude for the court's meticulous attention and for its recognition of Kalshi as a regulated exchange by the CFTC (Commodity Futures Trading Commission).

On April 9th, LookOnChain announced on social media that they have identified a Smart Money trader. Four months ago, this trader deposited 1.17 million USDC into Hyperliquid. Now, his account is worth 8.85 million USD. His winning rate is 100%, and every trade is profitable. Currently, he is shorting XRP, BTC, and ETH, with an unrealized profit of 2.3 million USD.

On April 9th, BNB Chain made an announcement regarding the second batch of selected projects for the $100 million liquidity incentive program. A total of 4 projects native to BSC, namely PumpBTC (PUMP), Bubb (BUBB), JLaunchpad (JLP), and Ailey (ALE), were listed on 11 CEX exchanges. Following a review, it was determined that only PumpBTC (PUMP) met the specified criteria. Projects that currently do not fulfill the conditions for liquidity rewards but are likely to meet the requirements in the future will still be eligible for the next round of rewards.