Blockchain security firm TRM Labs reported that Russian-language darknet marketplaces dominated crypto-linked drug transactions in 2024. According to the report, the platforms were behind more than 97% of the drug-related crypto activity on the Bitcoin and TRON networks. That translates to around $1.65 billion out of the $1.7 billion traced to drug trade on both […]

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Ali Martinez revealed that whales (investors holding between one million and ten million tokens) currently control around 16% of ADA’s circulating supply. …

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The cryptocurrency market is up today, with the total market capitalization rising by approximately 3.8% in the last 24 hours to reach $2.73 trillion on April 2. The gains were led by Bitcoin (BTC) and Ether (ETH), which have risen around 3% and 5%, respectively.

Let’s look at the top catalysts driving the crypto market rebound today.

Markets take “deep breath” ahead of Trump’s “liberation day”

The crypto market’s recovery today aligns closely with similar rebounds in the US stock market, ahead of Trump’s “liberation day,” with Bitcoin leading the market higher.

What you should know:

• Dubbed by President Donald Trump as a pivotal moment for US trade policy, the “Liberation Day” on April 2 promises the announcement of reciprocal tariffs aimed at rebalancing global trade. 

• Recent weeks have seen cryptocurrencies retreat amid fears of a tariff-induced economic slowdown, with Bitcoin dropping nearly 23% from its all-time high due to macroeconomic uncertainty. 

• However, today’s gains suggest a possible shift in sentiment, with market analysts viewing it as a moment of calm before the storm.

• This has spurred a risk-on sentiment, with Bitcoin climbing back above $84,000 and Ether edging above $1,800. 

• This suggests that investors are positioning themselves ahead of tomorrow’s potentially market-moving news.

• Dogecoin (DOGE) and Cardano (ADA) rose over 6%, while XRP (XRP), Solana (SOL) and BNB (BNB) were up nearly 3.5%.

Looks like global market sentiment is taking a “take a deep breath” approach in the countdown to Donald Trump’s “Liberation Day” tariff announcement, said Reuters’ Kevin Buckland in a Morning Bid newsletter.

“Nothing has really changed: We still are no wiser as to what Trump is set to announce on Wednesday,” Buckland continued, adding:

“Any expectations that there might be room for trade partners to negotiate apparently came undone with the US president’s statement late on Sunday that essentially every country will be slapped with reciprocal levies.”

Commenting on this trading firm, QCP Capital said that a “broad and aggressive regime could deepen recession fears and send risk assets spiraling.” 

QCP Capital added:

“That said, political theatre often leaves room for recalibration. A softer-than-expected rollout could offer markets a brief reprieve.”

Crypto investment funds flows remain positive

The crypto market’s ongoing correction aligns with significant inflows into crypto investment products. 

Key takeaways:

• Digital asset investment products saw inflows for the second week in a row, totaling $226 million during the week ending March 28, as per CoinShares report.

• This brings the last two weeks of inflows to $870 million, following five weeks of outflows.

• Bitcoin investment products saw investor inflows totaling $197 million, while altcoins saw inflows for the first time in 5 weeks totaling $33 million.

• This indicates institutional investors are increasing their exposure to digital assets, albeit in a “cautious” manner, according to CoinShares head of research James Butterfill.

Butterfill said: 

“Following the largest outflows on record, ETPs have seen 9 consecutive trading days of inflows.”

Related: March 2025 in charts: Trump trade war hits Bitcoin, $22M in DeFi hacks

Crypto market technical rebound

From a technical perspective, the crypto market’s bounce today has occurred primarily due to its oversold relative strength index (RSI).

Key points:

• The RSI on the 4-hour timeframe dipped below 30, entering oversold territory.

• A slight rebound in RSI suggests buyers are stepping in to absorb selling pressure.

• As a rule of technical analysis, oversold conditions typically lead to short-term relief rallies.

Furthermore, the crypto market is eyeing extended recovery as it paints a potential double-bottom pattern.

Note that:

• The total crypto market cap chart shows two consecutive lows around $2.60 trillion, forming a double bottom pattern.

• A double-bottom is considered a bullish reversal structure, resolving when the price breaks above its neckline resistance and rises by as much as the pattern’s maximum height.

• Confirmation of this pattern would require a decisive breakout and a four-hour candlestick close above the neckline at $2.67 trillion.

• If the breakout occurs, the measured move target is $2.76 trillion.

• The target lies above a critical supply zone stretching from $2.72 trillion and $2.74 trillion, where all the major moving averages lie.

• Failure to break above this barrier may result in continued consolidation between $2.70 trillion and $2.72 trillion.

According to popular analyst Crypto Zone, the crypto market is still “gripped by fear,” with the Fear & Greed Index sitting at 24, even as the total market cap rises.

The analyst added:

“This mixed sentiment suggests caution, but also potential buying opportunities for those who dare to be greedy when others are fearful.”

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Learn MoreWhy is the crypto market up today?

Metaplanet cemented its position among the top corporate Bitcoin holders globally following the acquisition of 696 BTC, valued at approximately $67.8 million (¥10.152 billion), on April 1. This move boosts the firm’s total Bitcoin holdings to 4,046 BTC, worth around ¥52.368 billion or $350 million. According to Bitcoin Treasuries data, Metaplanet’s growing BTC treasury now […]

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Low liquidity and massive sell orders likely led to the market imbalance. …

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Hackers stole more than $1.63 billion in cryptocurrency during the first quarter of 2025, with the Bybit exploit accounting for more than 92% of total losses, according to blockchain security firm PeckShield.

PeckShield reported that over $87 million in crypto was lost to hacks in January, while February saw a dramatic spike to $1.53 billion, largely due to the Bybit attack. That incident was one of the largest crypto thefts to date.

In addition to the Bybit hack, other attacks in February caused $126 million in losses. This included a $50-million exploit targeting Infini, a $9.5-million hack on zkLend and an $8.5-million loss from Ionic.  

Hack-related losses dropped significantly in March, decreasing by 97% from February. PeckShield reported only $33 million in crypto assets were stolen last month. Some funds were even recovered, helping offset damage to users and protocols.

Crypto hacks saw a 131% year-over-year increase

According to PeckShield, the first quarter of 2025 saw more than 60 crypto hacks. The blockchain security firm said the $1.63 billion loss in Q1 2025 represented a 131% year-over-year increase from the first quarter of 2024, when losses reached $706 million.

The largest incident in March was a $13 million exploit involving decentralized finance protocol Abracadabra.Money. PeckShield said the attacker drained 6,260 Ether (ETH) from the protocol on March 25.

Related: North Korean crypto attacks rising in sophistication, actors — Paradigm

The second-biggest incident during the month was an $8.4-million hack on the real-world asset (RWA) restaking protocol Zoth. 

On March 21, security firm Cyvers flagged a suspicious Zoth transaction, an attacker withdrawing $8.4 million from the protocol’s wallets. The assets were converted into a stablecoin and transferred to another address. 

While millions were lost in March, some cases saw assets being returned. On March 7, a crypto hacker who stole $5 million from decentralized exchange (DEX) 1inch returned 90% of the funds. 

After a smart contract vulnerability was exploited, the DEX offered a 10% bounty to the attacker, worth $500,000, in exchange for returning the rest of the crypto assets. The hacker obliged and sent back $4.5 million to 1inch. 

Magazine: Mystery celeb memecoin scam factory, HK firm dumps Bitcoin: Asia Express

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Learn MoreCrypto hacks top $1.6B in Q1 2025 — PeckShield

Tether, the issuer of the world’s largest stablecoin USDT, acquired 8,888 Bitcoin in the first quarter of 2025. According to crypto analytics firm SpotOnChain, the purchase is worth approximately $735 million and raises Tether’s total Bitcoin holdings to 92,647 BTC, valued at around $7.64 billion. The firm’s Bitcoin holdings now place it among the top […]

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Learn MoreTether strengthens Bitcoin portfolio with 8,888 BTC acquisition, sits on unrealized profit of $3.86 billion