There is a divergence in the Chinese community regarding the short-term trend, with traders focusing on the selling pressure caused by liquidity depletion.

On April 2, on-chain analytics firm CryptoQuant (per The Block) released a report noting Bitcoin’s spot demand remains in “deep contraction” despite ongoing institutional buying pressure. As of late March, apparent demand has fallen by roughly 63,000 BTC, signaling selling pressure still outpaces buying pressure. CryptoQuant emphasized: “Even as institutions accelerate buying, overall apparent demand keeps contracting—meaning retail and other market players’ selling has outstripped incremental institutional purchases.” This demand contraction has lasted since late November 2025, “confirming the broader market remains in a chip distribution phase.” Whales holding 1,000–10,000 BTC have shifted to net distributors, offloading roughly 188,000 BTC in the past year. Their 365-day moving average is still trending downward. “Historically, sustained negative accumulation by whales has aligned with long-term price weakness. The current reading shows selling remains a major structural headw

**April 2 — According to Cointelegraph, popular meme coin influencer Murad has racked up nearly $60 million in unrealized losses trading meme coins over the past nine months. He remains optimistic about a rebound and hasn’t stopped out, however. Murad currently holds ~29.964 million SPX6900 (SPX) tokens, valued at ~$7.79 million — accounting for 96% of his total tracked investment portfolio (~$8.1 million). His portfolio peaked at ~$67 million in July 2023. As the meme coin sector has dropped more than 80% from its highs since then, his unrealized losses have grown to ~$60 million. Data shows no substantial sell-offs of his SPX6900 holdings or other major positions, with realized profit and loss (P&L) sitting at $0. On Wednesday, Murad tweeted that SPX6900’s market cap will surge from its current ~$250 million to $1 trillion — a nearly 400,000% jump. He noted Bitcoin is the only cryptocurrency with a market cap exceeding $1 trillion. Technically, SPX6900 has broken down from a

The Trump administration will appeal a federal judge’s ruling blocking its ban on the government’s use of Anthropic technology on April 2. The U.S. Department of Justice (DOJ) filed a court notice Thursday indicating it will appeal last month’s ruling by U.S. District Judge Rita F. Lin of the Northern District of California (San Francisco). Lin had previously halted the government’s plan to sever ties with Anthropic to preserve the status quo amid ongoing litigation, but she stayed the ruling for one week to allow the government to appeal. Earlier, Anthropic sued the Department of Defense (DoD), challenging the agency’s claim that its technology threatened the U.S. supply chain. In her March 26 ruling, Lin sided with Anthropic, deeming the government’s national security justification for the ban questionable. She characterized the move as more of a “punishment” for Anthropic, noting the company had sought assurances its technology would not be used to monitor Americans or deploye

April 2 (Local Time) — Iranian Deputy Foreign Minister Abadi stated that Iran is considering imposing passage fees on vessels transiting the Strait of Hormuz. He added that the fee standards remain under review and no specific amount has been finalized yet. (CCTV News)

April 2nd — Per CoinDesk, crypto asset manager Grayscale says Middle East geopolitical tensions have pushed crypto investors into a wait-and-see stance, dimming the previously improving macro backdrop. “The Iran conflict nearly overshadowed all other market dynamics in March,” the report noted. Before tensions escalated, global economic growth had positive momentum and central banks were leaning toward rate cuts. But a sharp rise in oil prices stoked inflation concerns, lifted rate-hike expectations, and pressured risk assets. Since the Middle East conflict flared, the crypto market has seen sharp swings but remained range-bound, with trends closely tied to oil price headline volatility and risk sentiment. Bitcoin dropped to around $60,000 amid initial escalation, then rebounded to near the lower end of $70,000 before pulling back as tensions persisted and macro conditions tightened. The latest round of escalation saw Bitcoin shed roughly 10% from its March peak. Still, Bitcoin h

April 2 — Prediction market platform Pumpcade has closed a $1 million pre-seed funding round, with Pump.fun leading the round and participation from Foundation Capital and angel investor RadioSolace, per The Block. The funds will fuel the development of an arcade gaming experience integrated into Pump.fun’s real-time chat platform.