ChainCatcher News, President Trump has signed a bill that prevents the IRS from collecting tax data from decentralized cryptocurrency platforms, marking a historic move. This signifies the first time legislation specifically targeting cryptocurrency has become law in the United States.The bill was introduced by Republican Senator Ted Cruz (R-TX) under the Congressional Review Act, aiming to repeal the IRS's so-called "DeFi broker rule." The bill passed the Senate on March 26 with an overwhelming bipartisan support of 70-28 votes. Just two weeks prior, a similar version led by Congressman Mike Carey (R-OH) also passed with a similar "supermajority." The controversial DeFi broker rule was proposed in the final days of the Biden administration, requiring decentralized crypto entities (such as exchanges without central management) to comply with traditional IRS reporting requirements. Critics argue that this regulation is overly burdensome, potentially stifling innovation and severely hindering the growth of the DeFi industry."This regulation would undermine America's leadership in the cryptocurrency space, and I am grateful to President Trump for signing my resolution into law," Cruz told Crypto In America during the signing ceremony on Thursday afternoon. "This resolution is a victory for innovation, privacy, and economic freedom."

ChainCatcher news, former FOX business reporter Eleanor Terrett posted on X: "Federal Reserve Governor Michelle Bowman expressed hope for an independent review of the bank failures in March 2023 (SVB, Silvergate, Signature), although she did not directly name these banks."

ChainCatcher news, according to Jinshi reports, Fed's Schmid stated that compared to the beginning of the year, the risks of rising inflation, weak employment, and sluggish economic growth have significantly increased.

ChainCatcher message, the Federal Reserve's meeting minutes show that most participants indicated that the inflation impact from various factors may be more persistent than they had expected. All attendees agreed that given the significant uncertainty regarding the economic outlook, it is appropriate to maintain interest rates unchanged. (Jin Ten)

ChainCatcher message, Matrixport released today's chart stating that Bitcoin is currently in another adjustment phase. Historically, in the past four instances when the Stochastics Index fell to 15%, Bitcoin experienced a significant rebound. However, the index is currently at 25%, indicating that the market may not be close to a rebound opportunity yet.Although President Trump claims that the Chinese side is eager to negotiate, there has been no response from the Chinese side, and market sentiment remains cautious. Meanwhile, despite a 20% pullback in the U.S. stock market, the Treasury or the Federal Reserve has not clearly signaled support, so it may not be the ideal time to "buy the dip" in Bitcoin before the Stochastics Index approaches the critical 15% threshold.

ChainCatcher news, Placeholder partner Chris Burniske posted on social media, "If we lose this level, the next Bitcoin support to watch is $70,000, where there is significant support, located at the peak of the 2021 cycle and the range highs from March to October 2024. People will inevitably become greedy, predicting prices will drop lower than they actually do, so I prefer to enter in batches at reasonable entry points."

ChainCatcher news, U.S. stock market opens, the three major indices open sharply lower, the Dow Jones down 2.8%, the S&P 500 down 3.3%, and the Nasdaq down 3.9%.Tech stocks are hit hard, Tesla (TSLA.O) down 6.7%, Nvidia (NVDA.O) down about 7%, Strategy down 10.14%, Coinbase down 7.97%.

ChainCatcher message, Arthur Hayes tweeted that the latest generation of U.S. stock investors is too accustomed to structurally upward bull markets. This is more of an exception than a global norm, with many examples showing that even with potential economic growth being good, the stock market can experience 10 years of horizontal/range-bound fluctuations.The market is expected to provide a perfect environment for traders who can quickly adapt and thrive, but it will be extremely pessimistic for many private-oriented strategies. If Trump continues his policy choices, the expected returns for PE and VC should decline significantly.

ChainCatcher message, Federal Reserve Chairman Powell stated in his keynote speech on the economic outlook: "I feel that the Federal Reserve does not need to rush to act. I intend to complete my full term, and I actually enjoy this job very much. There will be important fiscal legislation and regulatory changes, and many businesses have indicated that they are waiting for clear guidance to make decisions."

ChainCatcher Federal Reserve Chairman Powell delivered a speech on the economic outlook, stating: "We face a highly uncertain outlook. It will be very difficult to assess the economic impact of tariffs before we have greater certainty about the details. While uncertainty remains high, it is now clear that the magnitude of the tariff increases will be significantly greater than expected. The economic impacts may also be so, including higher inflation and slower growth. The extent and duration of these impacts remain uncertain.We will continue to closely monitor the upcoming data, the evolving outlook, and the balance of risks. We are prepared to wait for clearer signals before considering adjustments to our policy stance. It is still too early to say what the appropriate path for monetary policy is."

ChainCatcher news, according to data from Greeks.live, 26,000 BTC options and 220,000 ETH options are set to expire, with maximum pain points at $84,000 and $1,850, respectively. Implied volatility has risen significantly, with BTC term volatility exceeding 50% and ETH maintaining around 65%. Market sentiment is bleak, the probability of a black swan event has increased, and the proportion of bearish options trading and open interest continues to grow.

ChainCatcher news, according to official sources, the National Investment Agency of Kyrgyzstan, directly under the President, has signed a memorandum of understanding with Binance founder Changpeng Zhao.According to the memorandum, both parties plan to jointly promote the development of the cryptocurrency and blockchain technology ecosystem in the Kyrgyz Republic. This includes providing infrastructure support, technical support, professional consulting services for cryptocurrency and blockchain technology, and implementing related educational programs.Changpeng Zhao stated, "I formally or informally advise multiple countries to help formulate cryptocurrency regulatory frameworks and promote the application of blockchain in enhancing government efficiency, expanding blockchain into more areas beyond transactions. I believe this work is highly meaningful."

ChainCatcher message, Glassnode posted on platform X that a signal similar to a death cross has appeared on the Bitcoin chain. The 30-day volume-weighted price of Bitcoin has fallen below the 180-day volume-weighted price, indicating a weakening momentum.Historically, this pattern often signals a bearish trend in the following 3 to 6 months.

ChainCatcher message, European Commission President von der Leyen: The U.S. tariff measures are a significant blow to the world economy, tariffs will hurt consumers around the globe and will be felt immediately, inflation will rise. We have always been ready to negotiate with the U.S., and if negotiations fail, we are prepared to take further countermeasures against U.S. tariffs.

ChainCatcher news, Trump announced a comprehensive tariff rate of 10%, lower than market expectations, leading to a broad rally in risk assets. The Nasdaq futures rose more than 2% after hours in the US stock market, the DXY dollar index briefly fell by 50 points, and Bitcoin surged over $1500 in a short time. Spot gold initially fell and then rose. (Jin Shi)