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125% Tariff Hike: How Crypto Markets Reacted with Memecoins and AI Leading the Charge

The crypto market saw a consolidation following a tariff pause, with memecoins, AI, and DeFi tokens leading the recovery. Notable performers included HYPE, HBAR, and SHIB. Technical patterns and a significant drop in the MOVE index, which measures Treasury market volatility, indicated potential for further gains. The Australian dollar, sensitive to China’s economic moves, continued its upward trend from the previous day, signaling positive cues for risk assets. However, U.S. equity futures fell over 1% and did not reflect this optimism. In derivatives, only LTC, TON, BCH, BNB, and PEPE showed growth in open interest over 24 hours, supporting the price recovery. Meanwhile, open interest in major cryptocurrencies like BTC and ETH declined, suggesting the recovery was driven by the unwinding of bearish bets rather than new bullish positions. The U.S. now faces an average import tax rate of 24%, down from 27% before the recent changes. In other news, the SEC moved closer to listing the SOL ETF in the U.S. with the publication of a 19b-4 filing by Cboe BZX Exchange. The Federal Reserve’s March meeting minutes highlighted concerns about stagflation. Today’s focus will be on the U.S. consumer price index for March, expected to rise by just 0.1% month-on-month, the slowest pace in eight months.

Source: www.coindesk.com

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