Hyperliquid, the popular perpetual decentralized exchange, is under intense pressure as its token nears a record low and its network volume plunges. Hyperliquid (HYPE) token plunged to a low of $11.10, down by 67% from its record high of $35.20.…

HYPE price crashes as Hyperliquid volume plunges, dilution risks rise

Bitcoin holders are facing renewed pressure following US President Donald 
Trump&#8217;s trade tariff announcement, which sent shockwaves through global 
financial markets, including cryptocurrencies.
However, with Bitcoin (BTC) hodlers now under pressure, some community 
members, including BitMEX co-founder Arthur Hayes, are not missing a chance to 
buy BTC at a discount.
&#8220;Been nibbling on BTC all day, and shall continue,&#8221; Hayes wrote on X on April 
7 as the Bitcoin price hovered around $75,000.
_Source:__Arthur Hayes_
He also predicted that Bitcoin&#8217;s dominance in the broader crypto market could 
grow. He expects the current 60.5% share of the market to go toward 70%.
## Traders are &#8220;powerless to second-guess Trump&#8217;s next move&#8221;
While Hayes is stacking sats during the tariff-fueled market bloodbath, his 
investment firm, Maelstrom, reportedly sold BTC in December 2024, when Bitcoin 
traded near its all-time high of about $100,000.
In a blog post titled &#8220;Trump Truth,&#8221; Hayes had predicted a massive crypto 
crash after Trump&#8217;s inauguration in January, forecasting a clash in market 
optimism over his crypto policies and the realities of policy implementation.
_**Related:**__**Michael Saylor &#8216;s Strategy halts Bitcoin buys despite dip 
below $87K**_
&#8220;The gospel of Bitcoin evangelists to never sell and buy every dip is testing 
the nerves of hodlers,&#8221; Petr Kozyakov, co-founder and CEO at the payments 
infrastructure platform Mercuryo, told Cointelegraph.
_Bitcoin price in the past year. Source: CoinGecko_
&#8220;Amateur retail traders and the citadels of high finance appear equally 
powerless to second-guess Trump&#8217;s next move,&#8221; he said.
He added that many traders are waiting on the sidelines, weighing whether the 
market has been oversold. Despite short-term uncertainty, Kozyakov remains 
bullish on Bitcoin&#8217;s long-term outlook as &#8220;the new digital gold.&#8221;
&gt; &#8220;Traders are cautiously waiting on the sidelines for opportunities to re- 
&gt; enter the market and weighing if there may be evidence of overselling.&#8221;
Kozyakov is far from being alone in seeing a promising future for Bitcoin as 
&#8220;new digital gold.&#8221; ARK Invest founder Cathie Wood is also bullish on Bitcoin 
vs. gold, claiming in February that the &#8220;substitution&#8221; of gold for Bitcoin has 
already happened.
## Bitcoin will fail without payment use case, says Jack Dorsey
Despite the bullish sentiment of Hayes and Wood, others in the crypto 
community have cautioned that Bitcoin needs more than just a store-of-value 
narrative to remain relevant.
Jack Dorsey, former CEO of Twitter and serial crypto entrepreneur, is 
skeptical about whether BTC can succeed as a pure store of value.
&#8220;If it [Bitcoin] just ends up being a store of value and nothing more, I don&#8217;t 
think it gains relevance at all,&#8221; Dorsey said on a &#8220;Presidio Bitcoin&#8221; podcast 
episode on April 2.
_Jack Dorsey on a &#8220;Presidio Bitcoin&#8221; podcast episode on April 2. Source: 
YouTube_
To stay relevant, Bitcoin has to maintain its payment use case, he said:
&gt; &#8220;Otherwise, it&#8217;s just something you kind of buy and forget and only use in 
&gt; emergency situations or when you want to get liquid again. So I think if it 
&gt; doesn&#8217;t transition to payments and find that everyday use case, it just gets 
&gt; increasingly irrelevant. And that&#8217;s a failure to me.&#8221;
Despite its volatility largely being seen as a major impediment to its payment 
use case, Bitcoin continued to be a major payment asset on platforms like 
BitPay in 2024. Some jurisdictions have used Bitcoin as a tool of payment in 
global trade as well.
_**Magazine:**__**Bitcoin heading to $70K soon? Crypto baller funds SpaceX 
flight: Hodler &#8216;s Digest, March 30 &#8211; April 5**_

Hodlers on edge: Trump’s tariffs shake Bitcoin, but some are buying the dip

A team of crypto industry veterans, all formerly with Kraken, has acquired 
majority ownership in Janover Inc., marking a significant pivot for the 
company toward decentralized finance. The group includes Joseph Onorati, now 
Chairman and CEO, and Parker White, appointed…

Kraken Veterans take over Janover with new focus on Solana holdings

South Korea’s National Pension Service, the world’s third-largest public 
pension fund with over $800 billion in assets under management, is looking to 
tap into blockchain technology for transactions. A report in the local Seoul 
Economic Daily states that the National…

South Korea’s National Pension Service to tap into blockchain

Despite the market downturn, Base network reached $193M in trading fees, 
continuing its relative growth.

Base posts $193m in Q1 fees, targets $100b in on-chain assets by 2025

The central bank indicated that the meeting will be held to discuss “discount 
rates to be charged by the Federal Reserve Banks.” Fed to Hold Private Meeting 
as Market Speculation Heats up The U.S. Federal Reserve quietly published a 
notification on its website showing it will hold a closed board meeting on 
Monday, April 7, […]