Asia Colour - 22 Apr 25
1/ Not everything that glitters is gold—some of it runs on blockchain. Gold surged past $3,500/oz overnight, marking a decisive move higher as investors flee U.S. equities, Treasuries, and the dollar amid rising concerns over Federal Reserve independence.
2/ Market anxiety is mounting. Trump’s continued calls for rate cuts—and reports that he may be exploring legal avenues to remove Fed Chair Powell—are stoking fears of political interference at the Fed, driving capital into safe-haven assets.
3/ Bitcoin is keeping pace. It rallied to its highest levels since early April, supported by strong U.S. spot demand. Spot volumes outpaced perpetuals, the Coinbase premium surged, and $BTC spot ETFs saw $381.3M in inflows—all pointing to renewed institutional activity.
4/ The decoupling narrative is gaining traction. As capital rotates out of USD risk, both $BTC and gold are emerging as top safe-haven and inflation-hedging plays. $BTC options markets now show persistent call skew across all tenors.
5/ Cracks are forming in U.S. credit. The cost of insuring high-grade debt against default just hit a one-week high. As the Trump-Fed showdown heats up, volatility is likely to follow. For now, gold and Bitcoin remain the market’s beacons of safety.
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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