Bitunix analyst: US Treasury basis trading explosion caused yields to soar, liquidity tightened, XRP short-term support $1.74, short-term pressure $2

Followin message, April 9th - As Trump's tariff policies triggered market panic, the US Treasury market experienced a basis trading liquidation wave, with long-end yields rapidly soaring. On Monday (April 7th), due to tariff panic, XRP once dipped to $1.61; on Tuesday during the Asian trading session, after the market digested Trump's policies and ETF positive news, XRP quickly rebounded to $2, indicating that crypto assets still hold attractiveness.

Bitunix analysts suggest: Basis trading liquidation triggered a surge in US bond yields, and hedging funds may continue to fluctuate the crypto market in the short term. XRP's technical performance in the $1.74-$2 range will determine its next trend, and investors are advised to flexibly use the support level of $1.74 and resistance level of $2, while strictly managing risks.