I. Crypto Market Overview

Key Takeaways

1.

Macro Environment

The US Dollar Index dropped 1% after a US-Iran ceasefire, boosting crypto risk appetite. The US SEC shifted its crypto enforcement to focus on fraud and manipulation, increasing regulatory clarity. The US FDIC proposed new stablecoin issuer rules, accelerating institutional adoption and regulatory certainty.
2.

Crypto Market

The crypto market rallied sharply in the past 12 hours, led by Bitcoin (BTC) up 4.83% to $71,408 and Ethereum (ETH) up 7.30% to $2,227. Zcash (ZEC) surged 27.51%, Monad (MON) jumped 23.87%, and LayerZero (ZRO) rose 14.00%, driven by renewed institutional inflows, ETF demand, and positive regulatory signals.
3.

Today's Outlook

Key events today include the US March CPI release and FOMC minutes, both critical for inflation and rate expectations. Major token unlocks for Aptos (11.3M APT) and Babylon (612.5M BABL) may impact market liquidity and volatility.
Fear and Greed Index
10.00% Annual Percentile
47 Neutral
Total Crypto Market Cap
$2.44T
4.54%
Total Market Trading Volume
$122.45B
45.62%
Altcoin Season Index
30.77%
Quarterly Percentile
37 / 100
Total Futures Market Open Interest
2.79B
2.43%
Futures
476.38B
14.26%
Perpetuals

II. Industry Updates

Macro-economic Policies

1.

The Reserve Bank of India (RBI) held its policy repo rate steady at 5.25% on April 8, citing supply-side shocks from the Strait of Hormuz closure and elevated energy prices. This cautious stance supports INR stability and signals a wait-and-see approach, which may help sustain DeFi and crypto market liquidity in India amid global volatility.

2.

Taiwan's central bank intervened in the FX market as foreign exchange reserves dropped to a 10-month low, driven by capital outflows and Iran conflict-related risk aversion. The Taiwan dollar depreciated 2.28% in March, increasing volatility for crypto traders and potentially impacting stablecoin liquidity in the region.

3.

The US Dollar Index (DXY) fell 1% today, erasing all 2026 gains as market sentiment shifted following the US-Iran ceasefire. A weaker USD typically boosts BTC and altcoin prices, supporting risk-on flows and increasing DeFi activity.

4.

Iran announced it will charge a $1 per barrel transit fee in cryptocurrencies for oil tankers passing through the Strait of Hormuz during the ceasefire. This move accelerates crypto adoption in global trade and could increase demand for major digital assets, impacting cross-border settlement volumes.

5.

Saudi Arabia's East-West oil pipeline was attacked, raising concerns over oil supply disruptions. Such geopolitical risks drive up energy prices, fueling inflation expectations and increasing volatility in both traditional and crypto markets, especially for inflation-hedge assets like BTC.

Cryptocurrency Regulatory Trends

1.

The US SEC has shifted its crypto enforcement strategy, admitting past actions failed to protect investors and now prioritizing fraud and market manipulation, boosting regulatory clarity and market confidence.

2.

The US Federal Deposit Insurance Corp. proposed new stablecoin issuer rules under the GENIUS Act, setting capital, liquidity, and custody standards, which may accelerate institutional adoption and regulatory certainty.

3.

Thailand's SEC has proposed stricter regulations targeting indirect financial backers of crypto company shareholders, aiming to enhance anti-money laundering oversight and increase transparency in digital asset markets.

4.

The SEC's 'Crypto Safe Harbor' proposal has advanced to White House review, focusing on startup and fundraising exemptions for token issuers, potentially opening new pathways for compliant crypto fundraising in the US.

Trending Tokens

1.

Zcash (ZEC): ZEC surged 25% in 24h, outperforming the market as privacy tokens rallied on the US-Iran ceasefire. Volume exploded 50%, with analysts setting targets up to $700.

2.

Monad (MON): MON jumped 24% in 24h, with TVL reaching $355M after new partnerships with NYSE and Securitize. Ecosystem expansion and institutional alliances drove the rally.

3.

LayerZero (ZRO): ZRO rose 14% in 24h, supported by strong institutional backing and the launch of its Zero blockchain. Citadel Securities and ARK Invest are among key partners fueling demand.

Smart Money Movements

1.

Spot Bitcoin ETFs recorded a $471 million net inflow on April 6, 2026, the largest single-day inflow in six weeks, with BlackRock's IBIT leading the surge and total ETF net inflows reaching $56.43 billion.

2.

A whale sold 441,000 LINK tokens via GSR Markets, realizing a $1.77 million loss as the average purchase price was $12.7 and the sale price was $8.69, highlighting significant repositioning among large holders.

3.

The Ethereum Foundation sold 416.67 ETH for $933,340 DAI and announced plans to convert an additional 5,000 ETH to stablecoins, aiming to fund research, grants, and donations.

4.

Metaplanet increased its Bitcoin holdings to 40,177 BTC after acquiring 5,075 BTC at an average price of $79,898, reaching 40% of its 100,000 BTC target and becoming the third-largest corporate Bitcoin holder.

5.

Exodus Movement reported a net increase in Q1 2026 holdings, adding 18 BTC to reach 628 BTC, 17 ETH to reach 1,857 ETH, and 1,847 SOL to reach 17,541 SOL, reflecting ongoing accumulation by the self-custody firm.

Events to Watch

Apr 8 (Wed)

US CPI data for March to be released at 8:30 a.m.; Federal Reserve to publish FOMC meeting minutes, offering insights into inflation and rate outlook.

Apr 10 (Fri)

US March CPI report to be released at 8:30 a.m. EST; Nearly 38 billion RAIN tokens (3.37% of supply) to unlock, potentially impacting market volatility.

Apr 13 (Mon)

Goldman Sachs Q1 earnings report to be released before market open, with focus on investment banking performance and market sentiment.

III. Phemex Market Focus

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1.

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2.

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