Americas Crypto Daybook: DeFi, AI, and Memecoins Drive Market Rebound Amid Easing Tariff Concerns

By Omkar Godbole (all times ET unless otherwise stated) The cryptocurrency market built upon Wednesday's price surge, prompted by a pause in tariff increases, with notable performances from memecoins, AI, and DeFi tokens. Top-performing coins included HYPE, HBAR, and SHIB, leading the market recovery. Bullish technical indicators and a significant overnight decline in Treasury market volatility, as measured by the MOVE index, suggest potential for further gains. The Australian dollar, sensitive to China's market, extended its gains from Wednesday, providing a positive outlook for risk assets. However, U.S. equity futures did not share this optimism, trading over 1% lower. Derivatives data sounded a cautionary note. Only LTC, TON, BCH, BNB, and PEPE saw growth in open interest over 24 hours, validating the price recovery. Open interest in major cryptocurrencies like BTC and ETH decreased, indicating the recovery was primarily driven by the unwinding of bearish bets rather than new bullish positions. President Donald Trump's decision to adjust tariffs on China to 125% and reduce others to 10% for 90 days still results in an average U.S. import tax rate of 24%, compared to 27% prior to Thursday. According to Bloomberg, this remains anti-growth, pro-inflation, and anti-risk assets. In other crypto market news, the SEC published Cboe BZX Exchange's 19b-4 filing for the Fidelity Solana Fund in the Federal Register, moving the regulator closer to listing the SOL ETF in the U.S. The Federal Reserve's March meeting minutes revealed consensus among policymakers regarding the risk of the economy entering a stagflation phase, characterized by higher inflation and slower growth. Some members noted that "difficult tradeoffs" may lie ahead for the central bank. Today's focus will be on the U.S. consumer price index data for March, forecast to have increased by just 0.1% month-over-month, the slowest pace in eight months, according to FXStreet. A soft reading may be dismissed as outdated, considering the recent escalation of the trade war. Conversely, a hotter-than-expected reading could lead to increased Treasury yields and a stronger dollar. Remain vigilant. Key Events to Watch Token Events Conferences Token Talk By Shaurya Malwa Derivatives Positioning Market Trends Bitcoin Statistics Technical Analysis Crypto Equities ETF Flows Spot BTC ETFs Spot ETH ETFs Source: Farside Investors Overnight Market Flows Chart of the Day While You Were Sleeping In the Ether