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Title: Did BlackRock’s Bitcoin Sale and Trump’s Tariffs Cause the $326M Crypto Outflow?
The crypto market is still under bearish pressure on short timeframes. Recent data from Coinglass shows that open interest in Bitcoin futures dropped to $50.81 billion, falling 0.27% in one day. This decline in trader activity suggests that traders are less active or confident in the current market trend.
According to Lennix Lai, Chief Commercial Officer at OKX, this drop highlights the shifting relationship between Bitcoin and traditional financial markets. The recent price action shows a divergence from stock market trends after Donald Trump’s tariff announcement on April 2. While the Nasdaq dropped 11%, Bitcoin only fell 6%.
Arthur Hayes, co-founder of BitMEX and Chief Investment Officer at Maelstrom, explained that Bitcoin reacts primarily to changes in the expected supply of fiat currency, not stock movements. He emphasized that Bitcoin’s price often rises when central banks increase the money supply through quantitative easing (QE). The increased liquidity lowers interest rates, making investors turn to assets like BTC.
Both experts agree that Bitcoin is not yet fully separated from broader market pressures but follows a different set of drivers, especially fiat liquidity conditions.
Despite these factors, recent events might have contributed to the $326M crypto outflow. The news about BlackRock’s sale of Bitcoin in its ETF and Trump’s tariff announcement could have led to decreased confidence among traders.
The post Did BlackRock’s Bitcoin Sale and Trump’s Tariffs Cause the $326M Crypto Outflow? appeared first on CoinChapter
Source: https://coinchapter.com/did-blackrocks-bitcoin-sale-and-trumps-tariffs-cause-the-326m-crypto-outflow/?utm_source=rss&utm_medium=rss&utm_campaign=did-blackrocks-bitcoin-sale-and-trumps-tariffs-cause-the-326m-crypto-outflow
