Chart of the week

Toward the end of February, correlations between crypto and other asset classes—excluding gold—began to rise, influenced by key US policy decisions on international trade tariffs. This trend, captured in the 30-day correlation window, is typical during periods of market stress, when assets often move in tandem, reflecting a broader risk-off sentiment.

 

 

However, in the wake of “Liberation Day,” this pattern unexpectedly broke, with crypto correlations declining (except to gold). This anomaly mirrors the first week of April when digital assets outperformed traditional markets despite economic uncertainty.

 

 

Market Highlights

 

Trump’s tariffs pause lifts BTC to $81K

 

President Trump paused tariffs for 90 days and lowered reciprocal duties to 10% for most countries, sending bitcoin back to $81,000.

This move underscores how broader economic policies continue to influence crypto markets, highlighting bitcoin’s growing integration with traditional finance and its role in the global macro narrative.

 

Crypto prices rise as inflation drops in March

 

Bitcoin and ether climbed on Thursday, after core inflation in the US rose by 2.8%—below expectations and a notable drop from February’s 3.1%.

The cooling inflation could signal future interest rate cuts and help boost the appetite for risk assets like crypto.