04-14-2025, 09:10 AM
Crypto markets ‘relatively orderly’ despite Trump tariff chaos: NYDIG
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5NjMxOWYtMGMxNi03MjE3LThmODktYzFlZDQxMDE1ZWVi.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5NjMxOWYtMGMxNi03MjE3LThmODktYzFlZDQxMDE1ZWVi.jpg" alt="Crypto markets ‘relatively orderly’ despite Trump tariff chaos: NYDIG"></p><p>Crypto markets have been fairly stable amid wider market panic caused by US President Donald Trump’s “on-again, off-again” sweeping global tariffs, according to a New York Digital Investment Group (NYDIG) analyst.<p>“Despite the carnage in traditional financial markets, the crypto markets have been relatively orderly,” NYDIG global head of research Greg Cipolaro <a data-ct-non-breakable="null" href="https://viewemail.nydig.com/bitcoin-stands-firm-amid-tariff-turmoil?ecid=ACsprvtaM6ZqOiV-U3dxlC8t_qbfSzKV13ky9bf95gePYOC9DhSzBV6H6_GqBQ1EWmEejJvXIrkZ&utm_campaign=Research%20Emails&utm_medium=email&_hsenc=p2ANqtz-87REweSB8-hr5NLdiWBMXR-VrPbyX3nPSi9HEna_2GXqHbUA7lgOtx6u9w8kFBMChj_Bs0IOp0WJuNfEU748F-IJAYnaKWvg-7uVDihWMhkaucWDA&_hsmi=356354170&utm_content=356354170&utm_source=hs_email" rel="null" target="null" text="null" title="null">said</a> in an April 11 note. “Historically, in broad risk-off moves, we tend to see stresses show up in crypto markets. We have yet to see that.”</p><p>Cipolaro said crypto perpetual <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/articles/funding-rates-in-crypto-markets" rel="null" target="null" text="null" title="null">futures rates</a> have “been persistently positive,” with liquidations spiking on April 6 and 7 in the days after Trump first announced the tariffs on April 2 but only to a total of $480 million, which he added “was well below other notable liquidation events.”</p><p>He noted that the price of Tether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/tether-price-index" rel="null" target="null" text="null" title="null">USDT</a>), a US dollar-tracking stablecoin widely used token in crypto trading, was below $1 but had “not experienced a sharp decline.” </p><p>Trump unveiled a sweeping tariff regime on April 2 that lumped various levies on every country <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/us-president-donald-trump-issues-90-day-pause-reciprocal-tariffs" rel="null" target="null" text="null" title="null">before pausing them</a> for 90 days just hours after they came into effect on April 9 and instead charging a base tariff of 10%, besides China, which currently has tariffs of up to 145%.</p><p>Traditional and crypto markets tanked after Trump’s April 2 tariff announcement, and many assets haven’t recovered to the same level as before their unveiling.</p><figure><img src="https://s3.cointelegraph.com/uploads/2025-04/0196324d-ffa3-72b9-bf67-5efbd6d5685a" title="" alt="Crypto markets ‘relatively orderly’ despite Trump tariff chaos: NYDIG"><figcaption style="text-align: center;"><p><em>Stocks, bonds and foreign exchange volatility rates all rose after Trump’s tariffs announcement. Source: </em><a data-ct-non-breakable="null" href="https://viewemail.nydig.com/bitcoin-stands-firm-amid-tariff-turmoil?ecid=ACsprvtaM6ZqOiV-U3dxlC8t_qbfSzKV13ky9bf95gePYOC9DhSzBV6H6_GqBQ1EWmEejJvXIrkZ&utm_campaign=Research%20Emails&utm_medium=email&_hsenc=p2ANqtz-87REweSB8-hr5NLdiWBMXR-VrPbyX3nPSi9HEna_2GXqHbUA7lgOtx6u9w8kFBMChj_Bs0IOp0WJuNfEU748F-IJAYnaKWvg-7uVDihWMhkaucWDA&_hsmi=356354170&utm_content=356354170&utm_source=hs_email" rel="null" target="null" text="null" title="https://viewemail.nydig.com/bitcoin-stands-firm-amid-tariff-turmoil?ecid=ACsprvtaM6ZqOiV-U3dxlC8t_qbfSzKV13ky9bf95gePYOC9DhSzBV6H6_GqBQ1EWmEejJvXIrkZ&utm_campaign=Research%20Emails&utm_medium=email&_hsenc=p2ANqtz-87REweSB8-hr5NLdiWBMXR-VrPbyX3nPSi9HEna_2GXqHbUA7lgOtx6u9w8kFBMChj_Bs0IOp0WJuNfEU748F-IJAYnaKWvg-7uVDihWMhkaucWDA&_hsmi=356354170&utm_content=356354170&utm_source=hs_email"><em>NYDIG</em></a></p></figcaption></figure><p>Over the weekend, the Trump administration <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/commerce-secretary-lutnick-walks-back-tariff-relief-electronics" rel="null" target="null" text="null" title="null">caused more confusion</a> with its tariffs, saying on April 13 that an April 11 decision to exempt many electronics from tariffs was temporary and they would still be hit with levies.</p><h2>Bitcoin fares well, declining volatility to make it widely attractive</h2><p>Cipolaro said that Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) didn’t escape the market volatility, “but at current prices has fared far better than many other asset classes.”</p><p>He added that Bitcoin’s volatility hasn’t risen to historic levels, unlike the traditional markets, and “has been relatively stable” despite instability instigated by the Trump administration.</p><p>“Perhaps investors are increasingly searching for stores of value not tied to sovereign countries and thus not affected by the trade turmoil.”</p><p>Bitcoin is down 22.5% from its mid-January peak of over $108,000 and has traded flat over the past 24 hours at $84,730, <a data-ct-non-breakable="null" href="https://www.coingecko.com/en/coins/bitcoin" rel="null" target="null" text="null" title="null">according</a> to CoinGecko.</p><p>Cipolaro said the narrowing gap between Bitcoin’s volatility and other assets makes it “increasingly more appealing” to funds with risk parity portfolios — those that use risk to choose asset allocations.</p><p>He added that investors are likely reducing their risk exposure but “perhaps some reallocation of asset mix to Bitcoin is one of the reasons it has been more buoyant.”</p><p><em><strong>Related: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sp-500-brief-bitcoin-level-volatility-trump-tariff-war" rel="null" target="null" text="null" title="null"><em><strong>S&P 500 briefly sees ‘Bitcoin-level’ volatility amid Trump tariff war</strong></em></a></p><p>“Risk parity funds allocating to Bitcoin can help dampen its volatility — making the asset more attractive and potentially reinforcing a virtuous cycle of increased adoption and stability,” Cipolaro said.</p><p>However, YouHodler chief of markets Ruslan Lienkha told Cointelegraph in an April 12 note that despite a wider market rebound, “technical indicators are painting a concerning picture.”</p><p>He said a “death cross,” when the 50-day moving average crosses below the 200-day moving average, is potentially forming on Bitcoin and the S&P 500.</p><p>Lienkha said the pattern is “generally considered a bearish signal for the medium term, suggesting that markets may struggle to sustain upward momentum without a clear catalyst or a stream of positive macroeconomic developments.” </p><p><em><strong>Magazine: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/financial-nihilism-crypto-over-dream-big-again/" rel="null" target="null" text="null" title="null"><em><strong>Financial nihilism in crypto is over — It’s time to dream big again</strong></em></a></p><template data-name="subscription_form" data-type="markets_outlook" label="Subscription Form: Markets Outlook"></template></p>
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https://cointelegraph.com/news/crypto-ma...er_inbound
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5NjMxOWYtMGMxNi03MjE3LThmODktYzFlZDQxMDE1ZWVi.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDQvMDE5NjMxOWYtMGMxNi03MjE3LThmODktYzFlZDQxMDE1ZWVi.jpg" alt="Crypto markets ‘relatively orderly’ despite Trump tariff chaos: NYDIG"></p><p>Crypto markets have been fairly stable amid wider market panic caused by US President Donald Trump’s “on-again, off-again” sweeping global tariffs, according to a New York Digital Investment Group (NYDIG) analyst.<p>“Despite the carnage in traditional financial markets, the crypto markets have been relatively orderly,” NYDIG global head of research Greg Cipolaro <a data-ct-non-breakable="null" href="https://viewemail.nydig.com/bitcoin-stands-firm-amid-tariff-turmoil?ecid=ACsprvtaM6ZqOiV-U3dxlC8t_qbfSzKV13ky9bf95gePYOC9DhSzBV6H6_GqBQ1EWmEejJvXIrkZ&utm_campaign=Research%20Emails&utm_medium=email&_hsenc=p2ANqtz-87REweSB8-hr5NLdiWBMXR-VrPbyX3nPSi9HEna_2GXqHbUA7lgOtx6u9w8kFBMChj_Bs0IOp0WJuNfEU748F-IJAYnaKWvg-7uVDihWMhkaucWDA&_hsmi=356354170&utm_content=356354170&utm_source=hs_email" rel="null" target="null" text="null" title="null">said</a> in an April 11 note. “Historically, in broad risk-off moves, we tend to see stresses show up in crypto markets. We have yet to see that.”</p><p>Cipolaro said crypto perpetual <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/articles/funding-rates-in-crypto-markets" rel="null" target="null" text="null" title="null">futures rates</a> have “been persistently positive,” with liquidations spiking on April 6 and 7 in the days after Trump first announced the tariffs on April 2 but only to a total of $480 million, which he added “was well below other notable liquidation events.”</p><p>He noted that the price of Tether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/tether-price-index" rel="null" target="null" text="null" title="null">USDT</a>), a US dollar-tracking stablecoin widely used token in crypto trading, was below $1 but had “not experienced a sharp decline.” </p><p>Trump unveiled a sweeping tariff regime on April 2 that lumped various levies on every country <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/us-president-donald-trump-issues-90-day-pause-reciprocal-tariffs" rel="null" target="null" text="null" title="null">before pausing them</a> for 90 days just hours after they came into effect on April 9 and instead charging a base tariff of 10%, besides China, which currently has tariffs of up to 145%.</p><p>Traditional and crypto markets tanked after Trump’s April 2 tariff announcement, and many assets haven’t recovered to the same level as before their unveiling.</p><figure><img src="https://s3.cointelegraph.com/uploads/2025-04/0196324d-ffa3-72b9-bf67-5efbd6d5685a" title="" alt="Crypto markets ‘relatively orderly’ despite Trump tariff chaos: NYDIG"><figcaption style="text-align: center;"><p><em>Stocks, bonds and foreign exchange volatility rates all rose after Trump’s tariffs announcement. Source: </em><a data-ct-non-breakable="null" href="https://viewemail.nydig.com/bitcoin-stands-firm-amid-tariff-turmoil?ecid=ACsprvtaM6ZqOiV-U3dxlC8t_qbfSzKV13ky9bf95gePYOC9DhSzBV6H6_GqBQ1EWmEejJvXIrkZ&utm_campaign=Research%20Emails&utm_medium=email&_hsenc=p2ANqtz-87REweSB8-hr5NLdiWBMXR-VrPbyX3nPSi9HEna_2GXqHbUA7lgOtx6u9w8kFBMChj_Bs0IOp0WJuNfEU748F-IJAYnaKWvg-7uVDihWMhkaucWDA&_hsmi=356354170&utm_content=356354170&utm_source=hs_email" rel="null" target="null" text="null" title="https://viewemail.nydig.com/bitcoin-stands-firm-amid-tariff-turmoil?ecid=ACsprvtaM6ZqOiV-U3dxlC8t_qbfSzKV13ky9bf95gePYOC9DhSzBV6H6_GqBQ1EWmEejJvXIrkZ&utm_campaign=Research%20Emails&utm_medium=email&_hsenc=p2ANqtz-87REweSB8-hr5NLdiWBMXR-VrPbyX3nPSi9HEna_2GXqHbUA7lgOtx6u9w8kFBMChj_Bs0IOp0WJuNfEU748F-IJAYnaKWvg-7uVDihWMhkaucWDA&_hsmi=356354170&utm_content=356354170&utm_source=hs_email"><em>NYDIG</em></a></p></figcaption></figure><p>Over the weekend, the Trump administration <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/commerce-secretary-lutnick-walks-back-tariff-relief-electronics" rel="null" target="null" text="null" title="null">caused more confusion</a> with its tariffs, saying on April 13 that an April 11 decision to exempt many electronics from tariffs was temporary and they would still be hit with levies.</p><h2>Bitcoin fares well, declining volatility to make it widely attractive</h2><p>Cipolaro said that Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) didn’t escape the market volatility, “but at current prices has fared far better than many other asset classes.”</p><p>He added that Bitcoin’s volatility hasn’t risen to historic levels, unlike the traditional markets, and “has been relatively stable” despite instability instigated by the Trump administration.</p><p>“Perhaps investors are increasingly searching for stores of value not tied to sovereign countries and thus not affected by the trade turmoil.”</p><p>Bitcoin is down 22.5% from its mid-January peak of over $108,000 and has traded flat over the past 24 hours at $84,730, <a data-ct-non-breakable="null" href="https://www.coingecko.com/en/coins/bitcoin" rel="null" target="null" text="null" title="null">according</a> to CoinGecko.</p><p>Cipolaro said the narrowing gap between Bitcoin’s volatility and other assets makes it “increasingly more appealing” to funds with risk parity portfolios — those that use risk to choose asset allocations.</p><p>He added that investors are likely reducing their risk exposure but “perhaps some reallocation of asset mix to Bitcoin is one of the reasons it has been more buoyant.”</p><p><em><strong>Related: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sp-500-brief-bitcoin-level-volatility-trump-tariff-war" rel="null" target="null" text="null" title="null"><em><strong>S&P 500 briefly sees ‘Bitcoin-level’ volatility amid Trump tariff war</strong></em></a></p><p>“Risk parity funds allocating to Bitcoin can help dampen its volatility — making the asset more attractive and potentially reinforcing a virtuous cycle of increased adoption and stability,” Cipolaro said.</p><p>However, YouHodler chief of markets Ruslan Lienkha told Cointelegraph in an April 12 note that despite a wider market rebound, “technical indicators are painting a concerning picture.”</p><p>He said a “death cross,” when the 50-day moving average crosses below the 200-day moving average, is potentially forming on Bitcoin and the S&P 500.</p><p>Lienkha said the pattern is “generally considered a bearish signal for the medium term, suggesting that markets may struggle to sustain upward momentum without a clear catalyst or a stream of positive macroeconomic developments.” </p><p><em><strong>Magazine: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/financial-nihilism-crypto-over-dream-big-again/" rel="null" target="null" text="null" title="null"><em><strong>Financial nihilism in crypto is over — It’s time to dream big again</strong></em></a></p><template data-name="subscription_form" data-type="markets_outlook" label="Subscription Form: Markets Outlook"></template></p>
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https://cointelegraph.com/news/crypto-ma...er_inbound