On April 4, CryptoQuant data showed that Trump's policy direction triggered intense fluctuations in the crypto market. There are signs of large-scale capital inflow into the three major cryptocurrencies: Bitcoin, Ethereum, and XRP, with investors showing clear intentions to cash out:
• The Bitcoin transaction volume per block surged to 2,500, reaching a recent peak
• Ethereum's hourly inflow reached 80,000, a tenfold increase from the previous day
• XRP inflow to Binance reached 130 million in one hour, a 13-fold surge from less than 10 million the day before
The largest U.S. exchange, Coinbase, shows a significant increase in Bitcoin deposits, predominantly driven by institutional and large investors. Analysts point out that economic uncertainty is driving risk-averse sentiment, prompting investors to liquidate their positions to secure profits, leading to a sharp decrease in demand in the Bitcoin and Ethereum perpetual futures markets.
Current market focus has shifted to the U.S. non-farm payroll report to be released on Friday, which will reveal key indicators such as employment growth, unemployment rate, and wage growth. If the data exceeds expectations, it could inject short-term rebound momentum into the persistently pressured crypto market, becoming a crucial factor in determining market direction.
