On April 21, the cryptocurrency market experienced a major breakthrough. Bitcoin prices soared, successfully breaking through the $87,000 mark, setting a recent high. Meanwhile, Ethereum also performed well, with prices rebounding above $1,600, while SOL surged strongly, with prices breaking $140. Additionally, other altcoins also showed slight upward trends. According to Coinglass data, the total liquidation amount of open contracts across the network in 24 hours reached $220 million, of which the liquidation amount for short positions was $142 million.
At the global macroeconomic level, the market is facing a complex and changing situation. The Federal Reserve's monetary policy and the tariff measures of the Trump administration are jointly influencing the direction of global markets. Both the U.S. stock market and the cryptocurrency market are under significant pressure. Federal Reserve Chairman Powell recently made it clear that the market's expectation that the Federal Reserve would intervene to calm volatility might be mistaken. When asked whether he would intervene in a sharp decline in the stock market, Powell responded, 'I will not do that, but I can explain why.' Under Powell's hawkish remarks, the Trump administration continues to pressure for interest rate cuts, but the specific timing for such cuts remains uncertain.
Regarding tariffs, Wall Street Journal reported that Trump hinted during an interview last week that the situation of mutual tariff increases between the U.S. and China may soon come to an end. When discussing tariffs at the White House, Trump stated, 'I don't want tariffs to continue to rise because when tariffs reach a certain level, consumers will stop buying.' However, due to the uncertainty of the final outcome, global market sentiment has not significantly improved.
Against this backdrop, the price of spot gold has risen sharply, currently reaching a historic high of $3,364 per ounce. The cryptocurrency market is fluctuating amidst volatility, seemingly entering a relatively calm phase. Investors are closely monitoring the direction of macroeconomic policies and changes in global market sentiment to seek new investment opportunities.