Major Events Impacting the Cryptocurrency Market in March and April
Tariff Policy Impact
On March 4, tariffs on Mexico, Canada, and China took effect, prompting retaliatory measures from China and the European Union on March 10 and 12, leading to a 5% drop in Bitcoin. On March 24, it briefly rebounded to $85,000 but then fell back. The Trump family's WLFI investment was affected by the weakness in altcoins.
Legislative Advances in Multiple US States
Utah and Kentucky passed cryptocurrency legislation, and 13 states including Texas are advancing stablecoin and investment bills, which are beneficial in the long term but have minimal short-term impact.
Dramatic Decline in Solana Ecosystem Revenue
The memecoin craze cooled off, with Solana DEX trading volume dropping from $34 billion in January to less than $1 billion in March, resulting in a 99% revenue plunge to $119,000.
DeFi Security Issues
In February, Bybit lost $1.4 billion, and in March, four attacks resulted in losses of $22 million, undermining confidence.
April Focus Points
Trump's "Liberation Day" Tariffs (April 2)
Large-scale tariffs are being introduced, but the impact may be lower than expected; attention should be paid to details and market reactions.
Stablecoin Bill Debate
The House will discuss the bill in April; if passed, it could boost confidence, otherwise, it may exacerbate uncertainty.
Macroeconomics and Sentiment
Tariffs may raise Bitcoin's safe-haven demand, but DeFi issues and the Mango Markets ruling (April 18) could weigh on the market.
April will test market resilience, and the interplay of policy and sentiment requires close attention.
