The latest market movements reveal significant fluctuations in the cryptocurrency space, coinciding with the decline of the US Dollar Index to 103.49. As gold prices relaxed at $2,982, Bitcoin exhibited a remarkable rebound, nearing the $79,000 mark. Initial optimism arose from reports suggesting a potential 90-day suspension of tariffs by former President Trump, a claim that was later refuted by the White House. This misinformation quickly reversed bullish trends, leading to a sharp downturn within both the cryptocurrency and US stock markets.
As of April 8, Bitcoin reached a temporary high of $81,213 before retracting to $79,670, while Ethereum stabilized around $1,574 amidst ongoing market scrutiny. The liquidation wave affected over 446,500 investors, accumulating a staggering $56.8 billion in losses. This event has been likened to a “cryptocurrency version of the Lehman moment,” which has not only challenged the narrative of easy wealth in crypto but has also highlighted the substantial risks tied to leverage and regulatory gaps.
In contrast to this volatility, BiyaPay has emerged as a game-changer as the first multi-asset trading wallet, enabling seamless transitions between fiat and digital currencies while allowing participation in both US and Hong Kong stock markets via USDT. With zero-fee transactions for spot and contract Makers and a compliant withdrawal framework, BiyaPay aims to alleviate the risks associated with traditional trading mechanisms.