The past week saw crypto markets rocked by Trump’s sweeping tariff proposal, with Bitcoin briefly plunging below key levels before staging a rebound.
From surprise memecoin rallies to major regulatory moves and legal shifts, these were the biggest stories shaping digital assets.
Bitcoin loses $1.3 trillion in value as Trump tariffs spark crypto-wide liquidation
Bitcoin plunged below $75,000 on April 7 after former President Donald Trump announced sweeping import tariffs, wiping out nearly all post-election gains across crypto markets.
Total capitalization dropped 12% to $2.47 trillion, with nearly $900 million in long positions liquidated in 24 hours. Ether fell to its lowest price in over a year, and Solana, XRP, and Dogecoin each slid more than 15%.
BTC’s drop closely tracked equity futures, underscoring the asset’s continued correlation with broader risk sentiment.
Derivatives markets also reflected rising caution. “The skew for puts is picking up considerably,” said FalconX’s Sean McNulty, as traders increased downside hedging in anticipation of further volatility.
China may fuel next Bitcoin surge as yuan devaluation looms
BitMEX founder Arthur Hayes said on April 8 that a potential yuan devaluation in response to Trump’s tariffs could trigger a repeat of 2015 and 2019 capital outflows into Bitcoin.
“It worked in 2013, 2015… and it can work in 2025,” Hayes posted on X, citing prior devaluations that coincided with 20% BTC rallies.
Analysts have noted that if China moves to weaken the yuan, crypto could once again become a key exit channel for investors looking to preserve wealth.
Past episodes have shown that Bitcoin demand spikes when Chinese investors seek to hedge against currency depreciation and navigate capital restrictions.
If Beijing pursues a similar path now, analysts suggest the ripple effects could reintroduce significant upward pressure on digital asset markets.
Ripple and SEC halt XRP lawsuit appeals, signaling possible settlement under new SEC chair
On April 10, Ripple and the U.S. Securities and Exchange Commission filed a joint motion to pause their XRP case appeals, indicating that a negotiated resolution may be close.
The filing suspends all briefing deadlines, pending a settlement expected after newly confirmed SEC Chair Paul Atkins takes office. Ripple’s legal counsel, James Filan, confirmed no further filings would occur until then.
Speculation is growing that Atkins could start his tenure by ending the high-profile case, potentially removing a major regulatory overhang from the XRP ecosystem.
UK to regulate crypto lending, stablecoins and cross-chain platforms by 2026
The UK’s Financial Conduct Authority is developing a sweeping digital asset regime targeting crypto lending, cross-border payments, and stablecoin issuance.
The new framework, expected by 2026, will replace current anti-money laundering rules with full licensing and compliance structures.
FCA director Matthew Long said over 100 stakeholders were consulted, and plans are in place to tailor disclosures, fair trading practices, and custody rules to crypto markets.
Projects targeting UK users may soon need to embed compliance by design to avoid enforcement under the upcoming rules.
Memecoins soar as Trump delays tariffs, Bitcoin recovers to $83K
On April 9, Trump surprised markets by announcing a 90-day pause on his universal tariffs, sparking a rapid rebound in speculative tokens, including memecoins.
Fartcoin jumped 43.5%, Popcat rose 28.6%, and Mog Coin climbed 24.1%, reversing last week’s deep losses.
The total memecoin market cap surged 12.8% in 24 hours. Bitcoin and Ethereum also bounced, with BTC regaining the $83,000 level and market fear indicators easing.
The rebound reflected a return of risk appetite as traders moved quickly to re-enter high-volatility assets.
While Bitcoin and Ethereum stabilized, the sharp gains in memecoins underscored how sentiment shifted from panic to speculative optimism within just 48 hours.
Bitwise doubles down on $200K Bitcoin prediction despite global uncertainty
Despite ongoing macro volatility, Bitwise CIO Matt Hougan reaffirmed in an April 9 blog post the firm’s $200,000 Bitcoin price target for 2025.
He argued that Trump’s tariff push and calls to weaken the dollar could be bullish for crypto. “Dollar down equals Bitcoin up,” Hougan wrote, citing a strong inverse correlation between BTC and the U.S. Dollar Index.
With the DXY down over 7% this year and institutional BTC demand rising, Bitwise sees Bitcoin playing a bigger role in an evolving reserve asset landscape.
