Global TradFi & Macroeconomics

Bitcoin’s weekly gain this week reached nearly 7%, marking the strongest single-week performance since October 2025, as the U.S. core CPI data came in below expectations and a ceasefire agreement between Iran and Israel boosted market sentiment. The price briefly broke through $73,000. Market expectations have intensified that the Federal Reserve may start cutting rates sooner, and technical indicators show volatility compression, suggesting that significant price swings may be ahead. In the short term, attention should be paid to the ceasefire negotiations and the Federal Reserve’s policy direction.

Gate News message, April 11, Tesla’s FSD driver-assistance software received regulatory approval in the Netherlands, becoming the first EU country to approve the software for on-road use. Tesla said it hopes other EU member states will take similar action. Widespread adoption of FSD is at the core of Tesla’s growth strategy. A large portion of the company’s current valuation of roughly $1 trillion depends on Musk’s bet that AI-driven self-driving software and robotaxi services will become the company’s primary revenue sources in the future.

Michael Saylor claims Bitcoin already completed its bottoming process when it reached $60k, and he believes concerns about threats from quantum computers are overblown. He predicts that in the future, Bitcoin will become the core of the digital credit system, and he also notes that there is limited selling pressure in the market, which could help drive a new bull run. Mizuho, meanwhile, has a positive assessment of the company’s future performance.

Gate News message, April 11, Bloomberg ETF analyst Eric Balchunas revealed that Bitwise has once again updated its Hyperliquid ETF application documents. The trading ticker is set to BHYP, and the management fee is 67 basis points (0.67%). Eric Balchunas said this move typically means the ETF will be formally launched soon.

On April 10, the XRP spot ETF saw a net inflow of $9.0939 million in a single day. Of this, the Bitwise XRP ETF recorded a net inflow of $7.6149 million, and the Franklin XRP ETF recorded a net inflow of $1.4790 million. Total net asset value was $968 million, and the historical cumulative net inflow has reached $1.22B.

Gate News update: On April 11, Strategy (formerly MicroStrategy) led by Michael Saylor purchased 3,468 BTC early this morning through its perpetual preferred stock STRC（Stretch）.

Gate News message. On April 11, the U.S. Department of Energy announced that it will lend 8.5 million barrels of crude oil from the Strategic Petroleum Reserve to four companies. Companies that will borrow crude oil from the U.S. Strategic Petroleum Reserve include Macquarie and Phillips 66.

Morgan Stanley's new bitcoin ETF, MSBT, debuted strongly with $34 million in trading volume and a low sponsor fee of 0.14%. While its first-day success indicates market interest, the challenge remains to maintain steady asset growth amidst a crowded ETF landscape.

The three major U.S. stock indexes finished mixed, with the Nasdaq up 0.35% to set an eight-session winning streak, while the S&P 500 fell 0.11% and the Dow Jones fell 0.56%. Tech stocks were broadly higher, and the Nasdaq’s gain for the week reached 4.68%. Blockchain-related stocks showed mixed performance.

Trident Digital Tech Holdings and Ripple Strategy Holding have signed a strategic cooperation agreement to launch a blockchain-based tax settlement system in Africa, support cross-border payments, and plan to begin a stablecoin business pilot in 2026.

Gate News message, April 11, according to Reuters, a senior U.S. White House official said that skepticism is pervasive inside the White House. The official said that during recent conversations with his advisers, Trump seems to have acknowledged that the Strait of Hormuz is unlikely to fully reopen in the short term. However, at the same time, on Thursday Trump posted on social media that oil supplies will be restored soon, but provided no further details.

Gate News message. On April 11, Iranian Islamic Parliament Speaker Qalibaf said in a statement delivered in Islamabad, Pakistan’s capital, at around 1 a.m. local time on the 11th that Iran is sincere about negotiations with the United States, but does not trust the U.S. side. The reason is that the parties’ previous negotiations “have always ended in failure and betrayal.” Qalibaf said that if the U.S. side tries to use this round of talks to put on a show, Iran is prepared to defend its own rights.

Taiwan’s crypto-specific regulatory framework will be implemented in 2026, and financial institutions will begin acquiring virtual asset service providers (VASPs). Financial holding groups such as Fubon and Federal Bank are actively positioning themselves, accelerating the integration of traditional finance and the crypto industry, while emerging platforms like HOYA BIT are competitive. The market expects that as regulations roll out, demand for virtual assets will increase significantly.

Shenzhen AI company Sharetronic saw its stock price drop by as much as 20% in a short period after it was accused of smuggling super micro servers equipped with Nvidia chips that are banned from export. The report said Sharetronic and its subsidiaries had illegally sold 276 servers with a total value of more than 632 million yuan. Currently, relevant parties are facing smuggling charges brought by the U.S. Department of Justice, and the investigation is still ongoing.

Michael Saylor asserts that Bitcoin has already finished bottoming at $60k, and he believes concerns about threats from quantum computers are overblown. He predicts that in the future, Bitcoin will become the core of a digital credit system, and he notes that there is limited selling pressure in the market, which could help drive the next bull cycle. Mizuho also has a positive assessment of the company’s future performance.

Reports say that Iran plans, during a U.S.-Iran ceasefire period, to require tankers transiting the Strait of Hormuz to pay a toll of $1 per barrel in Bitcoin and cryptocurrencies. The cost for a single trip could reach $2 million. A fully loaded tanker must declare its cargo and make payment with cryptocurrency, while also ensuring the transaction is not tracked. The move is intended to evade the risk of sanctions from the traditional financial system.

Taiwan’s crypto-specific law will be implemented in 2026, and financial institutions will begin acquiring virtual asset service providers (VASP). Financial holding groups such as Fubon and Federal Bank are actively positioning themselves to accelerate the integration of traditional finance with the crypto industry. Emerging platforms like HOYA BIT are gaining competitiveness. With the regulations rolling out, the market expects demand for virtual assets to increase significantly.

Canary Capital has filed for a spot PEPE ETF with the SEC, aiming to directly hold PEPE tokens while possibly keeping 5% in Ether for fees. This move reflects growing interest in meme coins, despite PEPE's significant decline in value.

Bitmine Immersion Technologies completed its listing up-switch from NYSE American to the NYSE main board on Thursday, marking a major milestone in the company’s development. Chairman Tom Lee announced an increase to the stock buyback program to $4.0 billion, but the stock price is still facing challenges, down 90% from its peak last year. Bitmine currently holds 3.98% of the total supply of ether, and market conditions may be the key to its turnaround.

Gate News: According to the latest Gate TradFi data, CRDO (Credo Technology Group Holding Ltd) has surged by 12% in a short period. Current volatility is significantly higher than recent averages, indicating increased market