Today's news tips:
Japan's 30-year bond yield rises to 2.785%, a 21-year high
UK 30-year bond yield breaks through 5.5%, highest since 1998
Moonshot launches Chicken Jockey ($jockey)
OKX will launch PROMPT (Wayfinder) spot trading
CryptoQuant: 7,500 Bitcoin long positions closed on April 6
Regulatory/Macro
Japan's 30-year bond yield rises to 2.785%, a 21-year high
According to Jinshi Data, Japan's 30-year government bond yield rose to 2.785% on Wednesday, the highest level since August 2004, up 22 basis points on the day to 2.715%. The increase was mainly due to investors selling the most liquid bonds to raise cash amid market turmoil. Katsutoshi Inadome, senior strategist at Sumitomo Mitsui Trust Asset Management, said the situation was similar to panic selling, and the yield had exceeded the level before Trump announced the tariff increase. In response to financial market problems, the Bank of Japan, the Ministry of Finance and the Financial Services Agency will hold a meeting of senior officials at 15:00 Beijing time to discuss. Earlier news, the Bank of Japan, the Ministry of Finance and the Financial Services Agency will hold a meeting to discuss international financial markets.
UK 30-year bond yield breaks through 5.5%, highest since 1998
The yield on UK 30-year government bonds rose above 5.5%, the highest level since 1998, and rose 15 basis points on the day.
According to The Block, the Argentine House of Representatives has passed three bills, officially launching an investigation into President Javier Milei and related officials involved in the Libra meme coin controversy. The coin was issued by Kelsier Ventures in February. Milei once publicly promoted it on the X platform, saying that it would support local entrepreneurial projects. The price of the coin then soared to a market value of US$2 billion before plummeting by more than 90%. Milei later denied knowledge and withdrew his support. The opposition party demanded impeachment, and the prosecutor has requested Interpol to issue a red warrant for the project's CEO Hayden Davis.
The probability of the Federal Reserve cutting interest rates by 25 basis points in May is 45.2%.
According to CME's "Fed Watch": The probability of the Fed keeping interest rates unchanged in May is 54.8%, and the probability of a 25 basis point rate cut is 45.2%. The probability of the Fed keeping interest rates unchanged in June is 0, the probability of a cumulative 25 basis point rate cut is 51%, the probability of a cumulative 50 basis point rate cut is 45.9%, and the probability of a cumulative 75 basis point rate cut is 3.2%.
Viewpoint
Jason Choi, co-founder of Tangent, recalled his investment experience in 2022 and said that he was too eager to invest all his $40,000 in Bitcoin, and as a result, the price of Bitcoin later fell to about $15,000. Although he withdrew in time to avoid greater losses, this experience made him realize the importance of market judgment. He mentioned that he performed well in predicting the top of the market, but he still had shortcomings in judging the bottom and short-selling strategies. Jason also pointed out that Bitcoin is now more affected by external factors such as ETFs and macroeconomics, and judging market trends is more complicated than before. He reminded investors that "being greedy when others are fearful" needs to be combined with actual conditions, and cannot blindly follow market sentiment. Rational judgment can bring better investment results.
Economist Peter Schiff warned that the U.S. Treasury yields are rising rapidly, with the 10-year yield reaching 4.5% and the 30-year yield rising to 5%. He said that if the Federal Reserve does not urgently cut interest rates and launch a large-scale quantitative easing program tomorrow morning, the stock market may experience a crash similar to that of 1987.
Lawrence Summers, professor of economics at Harvard University and former U.S. Treasury Secretary, said in an interview with Bloomberg on the 8th that due to the tariff measures being implemented by the Trump administration, the United States may be heading towards a recession, which may cause about 2 million Americans to lose their jobs and each family will face a loss of at least $5,000 in income. Summers said that Trump's tariff plan will face "very important choices" in the coming weeks. The scale of these tariff plans even exceeds the tariffs in 1930, which "exacerbated the Great Depression." Summers believes that the wise approach is to "withdraw the policies that have been announced." He also said that the economic recession challenge facing the United States this time is caused by the words and deeds of President Trump and his government. If the US government abandons its "policy mistakes," the economy will return to normal.
JPMorgan Chase model: A key stock index shows the probability of a U.S. recession is close to 80%
JPMorgan Chase & Co. said the probability of a recession priced in for stocks closely tied to the U.S. economy has surged to nearly 80%. Meanwhile, credit investors remain optimistic despite the potential for intensifying funding pressures. The Russell 2000 Index, which has been hammered in the recent sell-off, now reflects a 79% chance of a recession, according to JPMorgan Chase & Co.'s market-based recession indicator dashboard. Other asset classes are also sounding the alarm: The S&P 500 index shows a 62% chance of a recession, base metals show a 68% probability and five-year Treasury bonds show a 54% probability. By comparison, the investment-grade credit market is pricing in just a 25% chance of a recession, down from zero last November.
Analysis: Bitcoin falls into the $70,000 to $80,000 range, or may usher in drastic fluctuations
The price of Bitcoin has fallen below $75,000 twice recently, and has fallen significantly from the all-time high of $109,000 set on January 20. Glassnode data shows that Bitcoin has now entered the "gap zone" of $70,000 to $80,000, because the price has risen rapidly in this range before, without sufficient consolidation or correction. UTXO data shows that the supply of Bitcoin in this range is less than 2%, which means that there are fewer Bitcoins circulating in the market and the price may fluctuate more violently. In addition, about 25% of Bitcoin holders are currently in a loss, mainly short-term investors who bought in the past five months. Analysts believe that Bitcoin needs to stabilize in this price range before it can take a clear direction for the next step.
Project News
Binance will delist 7 spot trading pairs including ACT/BRL and ALPHA/BTC on April 11
According to the Binance announcement, Binance will stop trading the following spot trading pairs from 11:00 on April 11, 2025 (Beijing time): ACT/BRL, ALPHA/BTC, BLUR/BTC, CELR/BTC, PENGU/BNB, POND/BTC, RUNE/BNB.
DWF Labs subscribed 250 million WLFI at a high price of $0.1, with a total amount of $25 million
According to Aunt Ai, DWF Labs recently subscribed 250 million WLFI at a price of $0.1, with a total amount of $25 million, which is 6.67 times the subscription price of the first round ($0.015) and 2 times the subscription price of the second round ($0.05). Four days ago, DWF transferred 25 million USDC to the WLFI multi-signature address and received the batch of tokens 20 hours later.
Moonshot launches Chicken Jockey ($jockey)
Moonshot officially announced the launch of Chicken Jockey ($jockey), with a current market value of US$5.4 million and a 24-hour trading volume of US$7.8 million.
According to the Aave official governance page, the AAVE first buyback proposal was passed with 99.63% support, approving the Aave Finance Committee to use $4 million in aEthUSDT to buy back AAVE for about one month. The plan is part of the Aavenomics economic model, and the full buyback target is to buy back $1 million per week in the next 6 months. This is the first phase, and the updated Aave Swapper contract will be deployed later to support long-term execution.
BGB destruction rules upgraded, about 30 million BGB will be destroyed in 2025Q1
According to the Bitget announcement, in order to improve the compliance and transparency of BGB and the destruction plan, and to better empower the BGB ecosystem, Bitget Token (BGB) will update and upgrade the destruction plan. According to the new rules, the quarterly destruction quantity of Bitget Token (BGB) will be linked to the "on-chain gas fee". The new destruction mechanism is based on the actual use scenarios of BGB and ensures community transparency. The "quarterly total BGB used for gas fees" is publicly available on the chain. Based on the destruction rules, 30,006,905 BGBs will be destroyed in the first quarter of 2025, accounting for about 2.5% of the total supply. The corresponding number of BGBs will be sent to the destruction address, and the on-chain records will be announced after completion. According to CoinMarketCap data, BGB has a market value of approximately US$5 billion, ranking 25th. The current total supply is approximately 1.2 billion, and it is in a 100% full circulation state. Bitget CEO Gracy Chen said: BGB is becoming an important bridge connecting centralized and decentralized ecosystems. By linking the destruction mechanism to the actual use on the chain, the quarterly destruction amount of BGB will change dynamically with real use. This update not only encourages wider use, but also builds a more transparent and sustainable token economic model. As BGB's role in the on-chain ecosystem continues to expand, the destruction mechanism will also be more sustainable.
OKX will launch PROMPT (Wayfinder) spot trading
According to the announcement of OKEx, the Wayfinder ecological token PROMPT will be launched on the OKX platform. Deposits will be open at 10:00 on April 9, a call auction will be held from 20:00 to 21:00 on April 10, PROMPT/USDT spot trading will be officially opened at 21:00, and withdrawals will be open from 18:00 on April 11.
Binance to List Babylon (BABY) and Launch HODLer Airdrop Program
Binance has announced that it will list Babylon (BABY), the 14th project on its HODLer Airdrops page. The project improves the security of PoS blockchains by enabling self-custodial BTC staking on the Bitcoin network. Users who subscribe to BNB to Simple Earn or On-Chain Yields products between 00:00 on March 7, 2025 and 23:59 on March 12, 2025, will receive a BABY airdrop reward. The airdrop information is expected to be announced within 12 hours, and the airdropped tokens will be distributed to users' spot accounts at least 1 hour before trading starts. Binance will list BABY at 18:00 on April 10, Beijing time, and open its trading pairs with USDT, USDC, BNB, FDUSD, and TRY. Users can start depositing BABY 6 hours after this announcement. The initial total supply of BABY is 10 billion, and the total supply at listing is 10.015 billion, with a circulating supply of 22.9%.
Important data
CryptoQuant: 7,500 Bitcoin long positions closed on April 6
According to CryptoQuant analyst Darkfost, the largest Bitcoin long position liquidation event since this bull market occurred on April 6, with about 7,500 Bitcoin long positions liquidated on that day. This is the largest single-day long position liquidation record in this bull market, mainly due to the intensified market volatility caused by Trump's economic policies, especially tariff-related uncertainties. Darkfost reminds investors to be cautious during periods of rising volatility and focus on protecting the safety of funds.
According to statistics from Bloomberg cited by CCTV Finance, the so-called "reciprocal tariffs" announced by the United States have severely impacted the international capital market. Since the 3rd of this month, the market value of global stocks has shrunk by $10 trillion, slightly more than half of the EU's GDP. Among them, the US stock market itself has suffered heavy losses, and the market value of the seven major technology giants in the US stock market has evaporated by a total of about $1.65 trillion during this period. Among them, Apple's product manufacturing is highly dependent on the US overseas supply chain. In the past four trading days, its stock price has fallen by nearly 23%.
Financing
DashFun Completes New Round of Financing to Build AI-Driven Web3 Game Ecosystem
DashFun announced that it has completed a new round of financing, with investors including Metalpha, HTX Ventures, tbv, Ledger Capital and FDES. DashFun is a Web3 game platform based on Telegram applets. In the future, it plans to expand to social platforms such as Line and Kakao, and is committed to building a sustainable, AI-driven game ecosystem.
Firefish, an open Bitcoin mortgage marketplace, completes $1.8 million in seed funding
Firefish, an open market for Bitcoin mortgage loans, has completed a $1.8 million seed round of financing, with participation from Braiins, the creator of Braiins OS, and venture capital firm Miton. The funds will be used to further expand Firefish's institutional lending program to cover more investors and high-net-worth individuals seeking traditional investments in the Bitcoin space.
Octane, an AI cybersecurity startup, announced the completion of a $6.75 million seed round of financing, co-led by Archetype and Winklevoss Capital (the family office of Gemini founders Tyler and Cameron Winklevoss). Other supporters include crypto exchange Gemini Frontier Fund, Circle, Duke Capital Partners and a group of strategic angel investors, including former Coinbase CTO Balaji Srinivasan. The funds will be used for product development, expanding the engineering team and expanding Octane's influence.
Web3 AI project DecentralGPT completes $3 million in angel round and Series A strategic financing
Silicon Valley Web3 AI project DecentralGPT announced that it has recently completed angel round and A round strategic financing of $3 million in assets, led by AGICrypto Capital, and co-invested by several Web3 institutions including Cherry Ventures, BTR Capital, DePINX, and Aethir. The project team announced that it will accelerate the promotion of core modules such as multi-modal large model support and zero-knowledge proof privacy layer research and development.
Libraro, a decentralized publishing and reading platform, announced today that it has received additional investment from Ayre Ventures, bringing Ayre Ventures’ total investment in Libraro to £1 million (approximately $1.28 million) since it received initial seed funding in October 2024.
Crypto payment center Lyzi completes approximately $1.4 million in seed round financing
Crypto payment center Lyzi has completed a 1.3 million euro (about 1.4 million U.S. dollars) seed round of financing. Participants in this round of financing include angel investors, Dfns founder Christopher Grilhault des Fontaines and Astek founder Jean-Luc Bernard. According to reports, Lyzi is built on the Tezos Layer1 blockchain, allowing consumers to use cryptocurrencies for daily payments in retail and e-commerce environments. Merchants receive payments in cryptocurrencies and deposit fiat currencies directly into their bank accounts. The next step for Lyzi is to launch on Tezos' Layer2 block Etherlink, which is compatible with the Ethereum Virtual Machine (EVM).
Crypto dining app Blackbird Labs has completed a $50 million Series B financing round, led by Spark Capital, with participation from Coinbase, a16z crypto, Union Square Ventures and Amex Ventures. The financing is used for company equity and token warrants, which are allocations of unreleased cryptocurrencies. Founder Ben Leventhal said he raised the money in the fourth quarter of 2024, and he declined to disclose the implied valuation of the round. Blackbird Labs has raised $85 million since 2022.
