On April 4, Matrixport stated in its latest research report that although U.S. President Trump recently announced a new round of tariff measures and the stock market experienced some pullback, the market reaction was relatively mild, indicating that the current situation is not yet viewed as a comprehensive "risk aversion" event.

Bitcoin's price is currently blocked at the key resistance zone of $90,000, with buying interest remaining relatively low. The Federal Reserve's neutral stance and the contraction of basis and financing rates suggest that arbitrage selling pressure may be weakening.

Additionally, the U.S. earnings season is about to begin, and with the recent ISM manufacturing index falling into the contraction zone, the market may face further weakness. Meanwhile, the Bitcoin options skew rate once soared to 20%, reflecting increased market demand for downside protection around $80,000, but as tariff concerns gradually diminish, the skew rate has fallen to 9%.

Matrixport believes that Trump may stabilize market sentiment through policies such as tax cuts or regulatory relaxation, which could create a more favorable investment environment for manufacturing reshoring plans. Changes in market sentiment may trigger moderate buying, and investors need to pay attention to the potential impact of tariff policies on the crypto market.