Affected by the U.S. reciprocal tariffs, global assets have entered a stage of panic selling. BTC has been relatively strong in the past week, but is still affected by macro factors, so it is difficult to get out of the independent market. As many countries and regions announce counter-sanctions on reciprocal tariffs on the United States, market volatility intensifies.

In particular, China announced that it would impose 34% tariffs on all U.S. imported goods from April 10. The game between international giants has intensified the market selling boom and the market entered "Black Monday". Not only did macro assets plummet across the board, the Nasdaq index has fallen by nearly 25% from its high point, US stocks fell by 4%, and BTC hit a low of $74,508, with a maximum amplitude of over 10% in 24 hours.

The market has over-focused on "reciprocal tariffs" and has been deepened by the news. From the rumor of "90-day suspended" to "false news of refuting rumors", BTC quickly rose to $81,200 on the 7th. As of the writing of this article, the price of BTC is temporarily at 79,000 $ support level(The above data comes from Binance Spot, real-time data on April 8 at 14:30).

Market Interpretation

Event-driven is the market leading in the near term, focusing on the risks of market sentiment fluctuations in the short term

The market selling sentiment has caused US stocks to fall significantly, with market value evaporating more than $5 trillion in the past few days, and losses have exceeded $10 trillion since Trump's inauguration date.

The connection between the market and macro variables has deepened. Although the pullback caused by tariffs is a specific event-driven decline, due to the current uncontrollable artificial variables, it is not ruled out that various economic or political consultations will be conducted on tariff issues in the next 6 months. Market sentiment will fluctuate with changes in trade policies, Investors are advised to pay attention to short-term market volatility risks.

Multiple countries have issued counter-sanctions measures, and economic game begins

Kingshin reported that the European Commission proposed a 25% counter-tariff tariff on a range of U.S. imports, which will take effect from May 16. The European Commission removed U.S. bourbon from its list of goods that intend to impose counter-tariffs. The file also shows thatThe Commission proposes counter-tariffs on some U.S. imports, which are scheduled to take effect on December 1.

Japanese Finance Minister Katsunobu Kato said that all possible measures will be taken to deal with the impact of US tariffs. Currently, working groups have been established in the Ministry of Finance and the Department of Finance to deal with US tariff issues. Japan and the United States have decided to communicate at the department level on foreign exchange issues. South Korea's Finance Minister Choi Sang-mu said that South Korea will continue to closely monitor the financial market. Volatility in financial markets may continue and market stabilization measures will be taken promptly if necessary. The Japanese and Korean stock markets rose significantly on the opening of the 8th, with the Nikkei 225 index once rising by more than 6%, the Toxin Index's increase expanded to 6%, and the Japan Toxin Bank Stock Index once rose by 10%. South Korea's KOSPI index once rose by more than 2% to 2381.31 points。

A-share market protection measures have been launched, A-shares have recovered significantly

Before the 8th, the State-owned Assets Supervision and Administration Commission issued measures to protect the market of A shares to support central enterprises to repurchase and safeguard shareholders' interests. Central Huijin, China Chengtong, China Guoxin and other publicity plans have successively launched plans to increase their holdings and collectively increase their holdings of stock assets to maintain the stable operation of the market. The total share of stock ETFs increased by 42.764 billion shares. According to the average transaction price of the range, the net inflow was approximately 74.003 billion yuan.

After the opening of A-shares, the market rose significantly, with the big consumer and retail sectors leading the gains, and the Chinese stocks stretched collectively, and Hong Kong stocks also rose significantly.

Recent focus

Reciprocal tariffs intensify market volatility risks, key data are worth paying attention to

After the tariff suspension was missed, President Trump said he would not suspend the so-called "reciprocal tariff" policy. Trump told the media after meeting with visiting Israeli Prime Minister Netanyahu at the White House that day that he had no consideration to suspend tariff policies and leaders of many economies were seeking to negotiate with him.

The March CPI data is about to be released, and although the data has not been released, market expectations for the Federal Reserve's emergency rate cut are rising. Swap trading shows that the Fed's chances of 25 basis points cut interest rates next week are about 40%, well ahead of the Fed's interest rate decision scheduled for May 7. At the same time, investors sold risks and rushed to buy bonds, causing yields to plummet. The most sensitive U.S. Treasury bond yields, which are monetary policy, fell 22 basis points to 3.43% on Monday, down about 50 basis points in total since Trump announced the taxation.。

SEC announces the agenda of the crypto trading roundtable on April 11, which may promote the crypto-regulation process

The SEC official website shows that the SEC Encryption Task Force will hold an open roundtable meeting titled "Blocks and Dilemmas: Tailor-to-Price Supervision for Crypto Transactions" at its headquarters in Washington, D.C. The meeting will be hosted by Nicholas Losurdo, partner of Goodwin Procter, and will include executives and experts from Uniswap Labs, Coinbase, NYSE and other institutions. With the recent loosening of crypto regulatory policies, the market is looking forward to returning to the table or promoting the crypto regulatory process.

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