Asia Colour - 1 Apr 25
1/ It’s no April Fool’s joke. $BTC, $ETH & the S&P 500 just posted their worst quarterly performance in 3 years. Over $160B in crypto market cap was wiped since Friday, as bullish momentum fades fast.
2/ The selloff was triggered by large quarter-end expiries, with dealers dumping into the fix. Perp funding flipped negative, adding to pressure. Then came a double hit from macro: sticky core inflation and soft consumer spending.
3/ Now markets brace for Trump’s “Liberation Day” (2 Apr), where he’s set to announce reciprocal tariffs. With consumer confidence at 12-year lows and equities down 4–5% last week, the timing could hardly be worse.
4/ Still, a less aggressive rollout could offer relief. Political theatre often gives way to softer implementation — something risk markets desperately need in this fragile setup.
5/ VIX stays elevated at 22. Crypto vols drift lower despite the drawdown.
Our desk saw BTC topside buyers (85k–90k) and put sellers (75k) — some positioning for a firmer Q2 open.
6/ April is seasonally bullish for crypto, but caution prevails. Expect sideways chop as macro uncertainty looms.
Key events this week: ISM, JOLTS, NFP & Powell.
Read more: www.qcpgroup.com/insights/asia...
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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