Crypto Daily is our column tracking crypto market trends, offering timely insights and valuable updates to keep you informed.

Bitcoin Rout Extends as Trade War Pain Batters Crypto Assets

Cryptocurrencies sold off sharply heading into the week in Asia, underscoring a clear risk-off sentiment across markets.

Bitcoin shed about 8.2% of its value on Monday to reach a low point of $75,733. Second-ranked token Ether plummeted to $1,538, an intra-day low not seen since Oct. 2023.

The slide comes as US president Donald Trump dug in on sweeping tariffs that have already wiped trillions in value from US equities. US equity-index futures slumped and the yen surged in a sign of deepening turmoil throughout financial markets.

Crypto shares plunged in overnight trading. MARA, Bit Digital down over 15%; Strategy, Riot Platforms, CleanSpark down about 14%.

Analyst Flags $75,000 as ‘Critical Support Level’ For BTC

Coinglass data show about $868 million worth of bullish crypto wagers were liquidated in the past 24 hours, the most in nearly six weeks.

Options markets suggest the selling pressure may continue “with the skew for puts picking up considerably,” said Sean McNulty, head of APAC derivatives at digital-asset prime brokerage FalconX. Key support levels for Bitcoin and Ether are $75,000 and $1,500, respectively, he added.

Open interest — or the total number of outstanding contracts — for put options with a strike price of $70,000 is currently higher than for any other expiry, according to data from derivatives exchange Deribit. That highlights a growing demand for further downside protection.

XRP, SOL Nosedive 14% as Crypto Bulls Rack $800M Liquidations

Futures tied to major tokens saw over $840 million in long liquidations in the past 24 hours as a bitcoin (BTC) plunge led to losses among major tokens, with some falling nearly 14%.

BTC slid to under $77,000 in its worst start to a historically bullish month late Tuesday, with ether (ETH) down 15% to $1,500.

SOL, XRP and dogecoin (DOGE) slid as much as 15%, before slightly recovering in Asian morning hours, with BNB Chain’s bnb holding relatively stronger with a 6% slide. The nosedive in majors was reflected across midcaps and smaller tokens — all showing drops of over 10-20% as per CoinGecko.

CZ Makes Rare Hong Kong Appearance: “I Don’t Trade Crypto Much”

Former Binance CEO Changpeng Zhao made a rare public appearance in Hong Kong Sunday, revealing he rarely trades cryptocurrency despite founding the world’s largest exchanges.

“The industry is not particularly healthy right now,” Zhao said during the BNB Super Meetup, criticizing excessive focus on meme coins. “We’re putting too much attention on quick gains.”

In a surprising admission, Zhao said, “I don’t speculate much. I don’t trade crypto much. I haven’t bought any meme coins.”

Zhao, worth approximately $66.6 billion, suggested several dozen to “over a hundred” cryptocurrencies could potentially outperform Bitcoin long-term, while emphasizing Bitcoin remains the most stable investment.

White House Official Confirms Bitcoin, Crypto Holding Reports Are Due Tomorrow

Federal agencies have a deadline of Monday to report their Bitcoin and crypto holdings to Treasury Secretary Scott Bessent, a White House official confirmed with journalist Eleanor Terrett today.

The reporting is part of President Trump’s March 6 executive order establishing a Strategic Bitcoin Reserve and a Digital Asset Stockpile.

The executive order, detailed in a March 11 presidential document, mandates all federal agencies to disclose their Bitcoin and digital asset holdings to the Treasury Secretary within 30 days.

Bitcoin Spot ETF Flow

The overall net outflow of the US Bitcoin spot ETF on Friday was $64.88 million. The total net asset value of Bitcoin spot ETFs is $94.45 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.65%.

The Bitcoin spot ETF with the highest net outflow on Apr. 4 was Grayscale, with a net outflow of $25.21 million. Following that was ARK 21Shares Bitcoin ETF, with a net outflow of 21.82 million, according to SoSoValue.