[Changed5] Bitcoin volatility rises amid Trump's trade policies. Commissions on the Ethereum network have fallen to a low. FTX has rejected hundreds of thousands of investor refund claims. A British woman accidentally threw away a wallet holding Bitcoins during a cleanup job

The crypto market is storming: Bitcoin reacts to Trump's duties and U.S. Fed chief's statement [Changed3]

 

U.S. President Donald Trump has imposed duties ranging from 10% to 50% on imports of all goods that come into the States from other countries. He announced his decision on the evening of April 2, 2025. 

 

Against the backdrop of this news, the crypto market came under pressure. Daily liquidations on April 4 reached $250 million — $120 million in longs and $130 million in shorts. This equilibrium indicates high uncertainty in the market.

 

Bitcoin’s dominance index continues to rise, reaching 62%, indicating investors' desire to stay close to a more "safe" asset amid volatility. 

 

Bitcoin initially rose from $81.8k to $84.7k but then fell sharply after China announced retaliatory tariffs on imports of U.S. goods. Later, the rate tried to recover but sagged again amid reports on the U.S. labor market and restrained comments from Fed chief Jerome Powell. He said that the increased tariffs may boost inflation, but there is no discussion of lowering the discount rate. 

 

As of April 7, 2025, the value of the first cryptocurrency fell to $75.1k. Altcoins collapsed by 15-20%. Liquidations have exceeded $1 billion in a day. The stock market is also going down. Quotes began falling precipitously after Trump administration officials announced that tariffs would not be postponed. Experts have already labeled April 7 as "Black Monday" for global financial markets.

 

What do the experts have to say?

1. Boris West (CryptoQuant) believes that BTC could fall to $65k - $71k and considers this range the most favorable for buying the coin.
2. Cass Abber, a crypto trader, has detected a "falling wedge" pattern on the Bitcoin chart, which may indicate that a rebound in the exchange rate is imminent. However, BTC must overcome the $86.5k mark to confirm the reversal.
3. Ki Young Ju (CryptoQuant) is sure that the bullish market is over, and in the coming months or until the end of the year, the exchange rate will either decline or be stuck in a "sideways."
4. Arthur Hayes (BitMEX) believes a trade war between the U.S. and China could push Bitcoin to $1 million amid declining confidence in traditional assets.

FTX rejected hundreds of thousands of compensation requests due to verification issues

 

Liquidators of the bankrupt crypto exchange FTX rejected almost 400 thousand requests for payouts. The reason is that users did not pass the identity verification (KYC), which is a mandatory condition that had to be met by March 3, 2025.

 

It is estimated that the total amount of rejected requests may reach $2.55 billion. $665 million of them are requests for less than $50k, and $1.9 billion — from $50k and above. Liquidators explained that additional measures were necessary because FTX had previously poorly verified clients and had not found the sources of their funds.

 

Payments on large requests (over $50 thousand) are planned to start on May 30. Earlier, in February of this year, users with assets up to $50 thousand already received $1.2 billion in compensation. The company's lawyers noted that FTX has received 27 quadrillion applications — among them, billions require verification and may turn out to be fake.