Trump’s Tax Brake
US President Donald Trump has announced a 90-day pause on new taxes imposed on most countries except China. This development caused a rapid rise in both cryptocurrency markets and stock markets. Bitcoin rose by 4.6% to $81,300 in minutes, while Ethereum gained 6.1% and XRP gained 10%. At the same time, major indices such as the S&P 500 and Nasdaq gained over 5%.
Trump announced that tariffs on China were increased by 125%, effective immediately. China, in response, imposed 84% tax on US products. Treasury Secretary Scott Bessent stated that this 90-day pause provided a “temporary floor” to the market, and that the decision was not due to falling market indices, but to the constructive approach of allied countries.
21Shares Attacks Dogecoin ETF and ETP
Crypto investment company 21Shares made headlines with two different financial product announcements for Dogecoin. The company applied to the US Securities and Exchange Commission (SEC) for a spot Dogecoin ETF. The fund aims to follow the market price of Dogecoin one-to-one, while Coinbase Custody will undertake the custody service. If the application is accepted, the ETF will offer investors the opportunity to invest in Dogecoin directly in US markets. According to Bloomberg analysts, the SEC has a 75% chance of approving a Dogecoin ETF this year.
In other news, 21Shares has also made moves in Europe for a Dogecoin-based ETP (exchange-traded product). The company will list this product, which is backed by 100% real DOGE, on Switzerland’s SIX Swiss Exchange under the symbol “DOGE.” This product, which is the first and only Dogecoin ETP approved by the Dogecoin Foundation, will offer institutional investors access to Dogecoin in a regulated environment. Foundation co-director Jens Wiechers said this development is an important step in the “Dogecoin is Money” vision.
Paul Atkins Confirmed as SEC Chair
The U.S. Senate has confirmed Paul Atkins, who was nominated by President Trump to head the SEC in December, by a vote of 52 to 44. Atkins’ priority will be to create a clear regulatory framework for digital assets.
Under Atkins’ leadership, the SEC is expected to move past the harsh stance of former Chairman Gensler and take a more positive approach to the crypto industry. However, some Democratic senators have reacted to this appointment due to Atkins’ past ties to the bankrupt crypto asset trading platform FTX. Despite this, the Trump administration continues to strongly convey the message that the SEC will usher in a new era for crypto assets.
Bessent to Review Blockchain and Stablecoin Regulations
US Treasury Secretary Scott Bessent announced that they will review existing regulations that block blockchain, stablecoins and new payment technologies. This step, taken as part of the Trump administration’s policy supporting technology and financial innovation, aims to encourage growth in the fintech and crypto asset sectors.
Bessent emphasized that regulations should not only benefit Wall Street but also ordinary Americans, and defined financial inclusion as a priority. These developments, along with the SEC’s decision to review crypto regulations, could create a more favorable regulatory environment for crypto companies in the U.S.
Russia’s Digital Asset and Crypto Payment Move
Russian Central Bank Governor Elvira Nabiullina announced that companies are testing digital financial assets in cross-border transactions and are showing interest in payment systems with crypto assets. The statement came during her annual presentation to the State Duma, where she provided information on tests conducted within the framework of an experimental legal regime. Nabiullina also stated that the digital ruble pilot program will be expanded to tens of thousands of participants by the end of the year. Russia is turning to the use of crypto assets in foreign trade in response to the difficulties experienced in traditional payment channels following Western sanctions. In this context, after the legal recognition of digital assets in foreign trade in 2024, mining activities were also legalized except in some regions.
Crypto Tax Move from Ukraine
The Ukrainian National Securities and Exchange Commission (NSSMC) has proposed a new tax framework for crypto transactions. According to the bill, a total of 23% tax is foreseen for the sale of crypto or purchase of goods and services in exchange for fiat currency, including 18% income tax and 5% military duty. However, crypto transactions and stablecoins will be exempt from this tax. NSSMC Chairman Ruslan Magomedov stated that these proposals were prepared for the legislative body to make informed decisions, emphasizing that crypto taxation is no longer a possibility, but an approaching reality.
In the proposed framework; Different taxation options for crypto activities such as mining, staking, airdrop and hard fork are also on the table. For example, while staking earnings are taxable only when converted to fiat currency, airdrops and hard forks would similarly be taxed when converted to cash. The NSSMC also proposes exempting certain thresholds to protect small investors. It also proposes exemptions for donations, family transfers, and crypto held for a certain period of time. The move is part of Ukraine’s goal of building a regulated crypto market in line with the legal framework it created in 2022.
WLFI Loses $125 Million in Ethereum Sale
World Liberty Financial (WLFI), which is linked to Donald Trump’s family, has begun selling some of its Ethereum holdings amid falling prices. A wallet belonging to WLFI sold 5,471 ETH at an average price of $1,465, generating about $8 million. The company previously spent $210 million for 67,498 ETH, which at current prices represents an unrealized loss of approximately $125 million.
Ethereum’s 56% decline since the beginning of the year, falling below $1,500, has raised concerns among investors. Despite this, WLFI recently raised $25 million in investment from DWF Labs.
New York to Explore Blockchain for Election Security
New York State Assemblyman Clyde Vanel introduced House Bill A7716 on April 8 to explore the use of blockchain technology in state elections. The bill proposes using blockchain’s transparent and tamper-proof nature to secure voter registrations and election results. If approved, the Electoral College will prepare a detailed report within a year and present it to legislators and the governor.
This move shows that interest in blockchain technology is increasing in the public sector in the US. For example, USAID and the Department of Government Efficiency (DOGE) are also evaluating blockchain-based solutions. Countries like China have also started using this technology to protect citizen data. Blockchain is seen as a structural solution not only in financial but also in governance and data security.
ECB Emphasizes National Monetary Sovereignty for Digital Euro
European Central Bank (ECB) Executive Board Member Piero Cipollone has brought the need for a digital euro back to the agenda against the rise of US dollar-pegged stablecoins in Europe. Cipollone stated that the increasing use of stablecoins threatens the monetary sovereignty of the euro zone and argued that the digital euro will fill the gap in this area.
Cipollone said that the dependence on US-based companies in digital payments in Europe is increasing, and that this situation carries both economic and strategic risks. Although he emphasized the importance of cash as a sovereign means of payment, he stated that digital alternatives were needed since it could not be used online. The ECB aims to accelerate both the digital euro law and the regulations regarding the legal status of cash use.
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BITCOIN (BTC)
BTC is trading at $82,100 as of the morning hours, losing 0.61%. It made a sharp rise with the support it received from the level of 76,606 and reached the level of 82,104. This rise seems to have gained momentum by breaking the previous consolidation zone upwards. If it can stay above 82,000, the level of 88,765 stands out as a potential target. However, if the price cannot hold at this level, the range of 80,800 – 81,000 can be watched as the first support. The 76.606 level is still the main support.
ETHEREUM (ETH)
ETH is priced at $ 1622 as of the morning hours with a 2.79% loss in value. The purple support zone (between 1,560 and 1,630) has created a strong liquidity area. The price approached the 1,768 resistance with purchases from this zone, but retreated without surpassing this level. Currently, the 1,622 level has become a critical support. If this zone is maintained, the 1,768 and 1,853 levels can be targeted with an upward attack. However, if the purple support area is broken, a pullback to 1,480 – 1,500 levels may be seen again.
RIPPLE (XRP)
XRP is trading at $ 2.00 levels with a 2.28% loss in value as of the morning hours. The price rose by clearly reacting from the blue support block and dropped the needle to the level of 2.1139. However, since this resistance zone could not be overcome, a pullback is observed in the short term. The 1.90 – 1.95 range draws attention as both volumetric support and demand zone. If this zone is tested again and buying pressure comes, the 2.11 level may be targeted again. Otherwise, if this zone is broken, the decline may continue to 1.80 levels.
AVALANCHE (AVAX)
AVAX is trading at $ 18.23 levels with a 1.14% loss as of the morning hours. It rose with the reaction from the 15.27 support and broke both the 16.47 and 17.74 levels in volume. These levels can now work as potential support. If it is sustained above the 17.74 level, the 19.95 and then the 21.88 levels can become targets. However, if the price drops below 17.74, the 16.47 and 15.27 levels can be tested again. Especially the red box area (former liquidity pool) is now an area to watch for buyers in the short term.
SOLANA(SOL)
SOL is traded at $ 116.5 as of the morning hours with a 2.54% loss in value. After the downtrend that started at 124.00, the strong buying reaction from the 110.24 – 112.00 support area draws attention. After bouncing from this support, the price is consolidating at 115.92. While the 124.00 level is the first important resistance, if this level is exceeded, the upward movement can be expected to gain momentum. Below, the 110.24 – 112.00 range has created a strong liquidity area and a retest in possible pullbacks may lead to buying opportunities.
