currency

4E: On the eve of the tariff announcement, the US stock and cryptocurrency markets rebounded, as the market awaits clarity on policies

ChainCatcher news, as Trump's "reciprocal tariffs" approach, market sentiment has undergone repeated tests, ultimately betting that clear trade policies will help stabilize the market. The three major U.S. stock indices experienced significant fluctuations during the day, closing mixed: the Dow Jones fell slightly by 0.03%, the S&P 500 rose by 0.38%, and the Nasdaq increased by 0.87%. Large tech stocks strengthened across the board, with Tesla rising more than 3%.The cryptocurrency market rose in tandem, with Bitcoin, driven by the early low opening of tech stocks, briefly approaching $82,000, and then following the rebound of U.S. stocks, reaching a high of $85,579. It is currently challenging whether it can hold above the $85,000 mark, having increased by 2.36% in the last 24 hours. Other major tokens generally rose, with Ethereum striving to break the $2,000 mark. Last night, multiple meme tokens on the BNB chain experienced a chain collapse, significantly undermining market confidence in meme coins.In the forex commodities sector, the dollar closed flat after fluctuating throughout the day; the oil and gas market overall declined, with crude oil prices slightly retreating; investors chose to take profits ahead of a series of tariffs coming into effect, with spot gold retreating after reaching a historic high.The U.S. stock market seems to have stopped falling on the eve of the "reciprocal tariffs" deadline, indicating that the market believes Trump will not insist on any tariff policies that would severely hinder economic growth, and is looking forward to clear trade policies that will help stabilize the market. Global attention is focused on tonight's tariff announcement, watching whether it can clarify policy direction to eliminate uncertainty, and whether the increase in tariffs will further worsen economic prospects.

QCP: Both cryptocurrency and stock markets recorded their worst quarterly performance in three years

ChainCatcher news, QCP recently released a market analysis stating that Bitcoin, Ethereum, and the S&P 500 index have just recorded their worst quarterly performance in three years, with the cryptocurrency market capitalization evaporating by over $160 billion since Friday. The pullback on Friday was attributed to the expiration of quarterly options, leading traders to actively sell, causing perpetual contract funding rates to turn negative. Meanwhile, core inflation data came in higher than expected, and consumer spending remains sluggish.The market is paying attention to Trump's "Liberation Day" tariff policy on April 2. Against the backdrop of consumer confidence hitting a 12-year low and the stock market experiencing a weekly decline of 4-5%, aggressive tariffs may exacerbate recession fears. However, if the policy measures are less aggressive than expected, it could provide some relief to the market. In terms of volatility, the VIX remains at a high level of 22, while cryptocurrency volatility is declining. Trading desks indicate a bullish sentiment dominating before the Asian market opens, with investors buying upside options and selling downside risks.Although April has historically been a strong month for cryptocurrencies, the market outlook remains cautious, potentially digesting macro risks in a sideways consolidation. Key events this week include ISM data, non-farm payroll reports, and Powell's speech.

Vanuatu passes cryptocurrency regulation and licensing legislation, but it is "very strict."

ChainCatcher news, according to Cointelegraph, Vanuatu has passed legislation to regulate digital assets and provide a licensing system for crypto companies wishing to operate in the Pacific island nation, which a government regulatory advisor described as "very strict."The local council passed the Virtual Asset Service Providers Act on March 26, granting the Vanuatu Financial Services Commission (VFSC) the authority to issue crypto licenses, as well as the power to enforce the Financial Action Task Force (FATF) standards for anti-money laundering, counter-terrorism financing, and travel rules on crypto companies. Under these laws, the VFSC has extensive investigative and enforcement powers and stipulates fines of up to 250 million Vatu (approximately 2 million USD) and prison sentences of up to 30 years.The law establishes a licensing and reporting framework for exchanges, NFT marketplaces, crypto custodians, and initial token offerings. Notably, the law allows banks to obtain licenses to provide crypto trading and custody services. The VFSC stated that while stablecoins, tokenized securities, and central bank digital currencies "may have some similarities with virtual assets in practice," this legislation does not affect them. The legislation also allows the VFSC commissioner to create a sandbox that permits licensed companies to offer a variety of crypto services for a period of one year, which can be renewed.In a statement on March 29, the regulatory body indicated that after years of "assessing the risks associated with virtual assets," it has developed a legislative framework that will "bring numerous opportunities" to Vanuatu and improve financial inclusion by allowing regulated services for crypto cross-border payments.
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