4/9 Light Chase Daily

Macro

1. The issue of tariffs. Yesterday, there was a scenario of rising first and then falling. Initially, Bessenet claimed that up to 70 countries were seeking negotiations. Everyone believed that after this negotiation, there would be some improvement in tariff agreements, which boosted the rise in U.S. stocks after opening yesterday, with a general increase, including Coinbase rising by 4 points.

2. During the U.S. stock market's midday session, the White House indicated that it would impose high tariffs on other countries and that there would be no agreements to lower tariffs, so there will also be no tariff exemptions in the near future. The tariffs on Canadian automobiles will take effect today.

3. After confirming that high tariffs are imminent, it started to decline again, which is basically similar to the previous few days: fake news comes out and then there is a wave of increase, and when the fake news is debunked, it continues to fall. The Dow dropped by 0.8%, the S&P by 1.6%, and the Nasdaq by 2.2%.

4. Dalio stated in his post that he believes what is currently happening is not just about tariffs; it is a systemic collapse of global monetary politics and geopolitics, which may be hard to encounter in history. The past model of developing countries manufacturing at low costs for exports to the U.S., purchasing U.S. debt, and the U.S. accumulating massive debt will be broken. The collapse of monetary politics and geopolitical order will manifest as economic depression, civil wars, and world wars, and will give rise to a new order.

Hot Topics

1. Bitcoin follows the decline of U.S. stocks. It is evident that when U.S. stocks opened up yesterday, Bitcoin basically did not rise, so it didn’t follow the rise but rather fell instead. Bitcoin did not follow the news.

2. Binance has added RFC. RFC has been called out by Musk many times and has indeed been a good performer recently, with a market cap of $60 million.

3. Currently, the overall market is still not doing well, leading to overall poor liquidity.

4. OKX will launch WCT next week and has just released another announcement to promote it.

5. Yesterday, there was also a batch of announcements from Binance regarding the first round of voting for new coins, totaling 14 coins. Most of these seem to be from the DeFi era, and indeed, the projects may have little news now, and liquidity is poor, so removing them is also understandable. At this time, taking down more coins in a bear market is quite reasonable.

6. The person in charge of Linear stated in his tweet that he would mention the current situation, which is also very tricky, after the market turns from bear to bull. He has already experienced two rounds of bull markets: one for DeFi and one for memes. He is still waiting for the next bull.