Bitcoin (BTC) price failed to hold its weekly open gains on April 10 as US stocks ignored positive inflation data.

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

Data from Cointelegraph Markets Pro and TradingView showed BTC price volatility ticking higher around the release of the March Consumer Price Index (CPI) numbers.

These numbers came in broadly below expectations, revealing slowing inflationary forces despite mass-market disruption due to US trade tariffs.

An official press release from the US Bureau of Labor Statistics (BLS) stated:

“The all items index rose 2.4 percent for the 12 months ending March, after rising 2.8 percent over the 12 months ending February. The all items less food and energy index rose 2.8 percent over the last 12 months, the smallest 12-month increase since March 2021.”

US CPI 12-month % change. Source: BLS

While notionally a tailwind for risk assets, US stocks were in no mood for relief at the open. The S&P 500 and Nasdaq Composite Index were down 3% and 3.7%, respectively, at the time of writing.

“Markets think the recently strong jobs report and cool inflation data gives Trump the ‘green light’ to continue the trade war,” trading resource The Kobeissi Letter suggested in part of a response on X.

Kobeissi nonetheless acknowledged the implications of rapidly declining inflation — something which tariffs had yet to influence.

“This marks the lowest Core CPI inflation rate in 4 years,” it continued in a separate X thread. 

“It also puts Headline CPI inflation just 40 basis points above the Fed’s 2% target. Inflation is down 60 basis points over the last 3 months alone.”

BTC price rebound may rest with ”Spoofy the Whale”

Turning to BTC price action, market participants were in a wait-and-see mode after the US paused the majority of its tariff implementations for 90 days.

Related: Crypto trading firm warns of ‘classic bull trap’ as Bitcoin tags $82.7K

For popular trader Daan Crypto Trades, a reclaim of at least $83,000 was necessary as an initial step for bulls.

“$BTC Saw a strong move after the tariff pause was announced,” he told X followers.

“Where BTC was more resilient on the downside, we saw equities pump more on the back of this pause (which makes sense as those are directly influenced by the tariffs).”

An accompanying chart showed nearby key trend lines around the spot price.

“BTC traded right back into the 4H 200MA (Purple) which has capped price over the past couple of weeks. That $83-85K is a key level to overtake for the bulls,” he continued.

“Right below we can see the ~$81.1K horizontal being a key level that sees quite a lot of action. I think it’s a good one to watch in the short term. Trading below that area could turn this into a nasty deviation/stop hunt.”

BTC/USDT perpetual swaps 4-hour chart. Source: Daan Crypto Trades/X

Analyzing order book liquidity, Keith Alan, co-founder of trading resource Material Indicators, drew attention to both the 21-day and 50-day simple moving averages (SMA) on the daily chart.

“First attempt at breaking resistance at the 21-Day MA was rejected, however BTC bid liquidity is moving higher so I think we’ll see another attempt,” he summarized earlier on the day. 

“If bulls can R/S Flip the 21-Day, there is even stronger resistance where liquidity is stacked around the trend line and the 50-Day MA.”

BTC/USD 1-day chart with 21, 50 SMA. Source: Cointelegraph/TradingView

Alan reiterated the role of large-volume traders shifting liquidity above and below Bitcoin’s spot price to influence price action. The actions of one entity in particular, which he previously dubbed “Spoofy the Whale,” remained a point of consideration.

“If ‘Spoofy’ will give us a roof pull, we’ll get a shot at the 100-Day and the 2025 open at $93.3k, which is the gateway back to 6-figure Bitcoin,” he concluded.

BTC/USDT order book liquidity data. Source: Keith Alan/X

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.

Crypto startup Meanwhile has raised $40 million to scale its Bitcoin-denominated life insurance business, targeting so-called “inflation-prone economies” where policyholders may seek alternatives to traditional fiat-based payouts.

The Series A investment round was led by Framework Ventures and Fulgur Ventures, with additional participation from Xapo founder Wences Casares, the company disclosed on April 10. 

Meanwhile previously secured $20.5 million in seed funding backed by OpenAI CEO Sam Altman and others.

Source: Meanwhilelife

Regulated by the Bermuda Monetary Authority, Meanwhile offers a whole life insurance policy denominated in Bitcoin (BTC), giving policyholders the ability to safeguard the value of their life insurance against currency debasement. 

Policyholders can access the value of their life insurance anytime through loans and tax-free partial withdrawals. 

Meanwhile co-founder Zac Townsend told Fortune that the company’s life insurance policies operate similarly to typical life insurance policies, but monthly premiums are paid in Bitcoin. When a policyholder passes away, their family receives the value of the claim entirely in BTC. 

The company’s policies are geared toward clients living in regions with high inflation or currency instability, Townsend said. Given the inflationary tendencies of Western economies and the extreme currency fluctuations in emerging markets, Meanwhile has cast a very wide net on its addressable market. 

Related: Bitcoin price could rally even as global trade war rages on — Here’s why

Bitcoin and the inflation problem

Bitcoin’s deflationary design has made it a popular store of value for early cryptocurrency adopters, but its role as an inflation hedge in the traditional sense is subject to debate. 

A 2025 study that appeared in the Journal of Economics and Business determined that Bitcoin’s inflation-hedging abilities have weakened in recent years due to rising institutional adoption. The study referenced Bitcoin’s 60% drop in 2022 when US inflation surged to a 40-year high above 9%.

However, some analysts may counter that claim by arguing that investors purchased Bitcoin during the pandemic on expectations that inflation would rise due to massive government stimulus.

During this period, “Investors saw that inflation was coming, so they began buying bitcoin hand-over-fist,” said investor and analyst Anthony Pompliano.

Regardless of whether Bitcoin meets the technical definition of an inflation hedge, the asset has significantly outperformed inflation, or the debasement of currency, since its inception. 

The Bitcoin price dipped below $80,000 on April 10 after the latest US inflation data triggered renewed volatility in the market. Nevertheless, the report showed a sharp deceleration in annual inflation in March, with the Consumer Price Index falling to 2.4% from 2.8% in February.

The Bitcoin price experienced heavy intraday volatility following the latest US CPI data. Source: Cointelegraph

Related: As Trump tanks Bitcoin, PMI offers a roadmap of what comes next

Standard Chartered and cryptocurrency exchange OKX are piloting a new program allowing institutions to use crypto assets and tokenized money market funds (MMFs) as collateral.

Announced on April 10, the collateral mirroring program enables off-exchange collateral usage while enhancing security by placing custody with a globally systemically important bank, according to a joint statement from the companies.

The pilot has been launched under the regulatory oversight of the Dubai Virtual Asset Regulatory Authority, with Standard Chartered acting as a regulated custodian in the Dubai International Financial Centre (DIFC).

The program launched in collaboration with crypto-friendly asset manager Franklin Templeton and features Brevan Howard Digital among the first institutions to trial the new capability.

OKX clients to gain access to assets by Franklin Templeton

As part of the collaboration, OKX clients will have access to onchain assets developed by Franklin Templeton’s digital assets team.

“We take an authentic approach, from directly investing in blockchain assets to developing innovative solutions with our in-house team,” Franklin Templeton’s head of digital assets, Roger Bayston, said, adding:

“By ensuring assets are minted onchain, we enable true ownership, allowing them to move and settle at blockchain speed — eliminating the need for traditional infrastructure.”

According to the announcement, Franklin Templeton will be one of the first in a “series of MMFs” that are expected to be offered under the program by Standard Chartered and OKX.

Standard Chartered backs tokenized funds

In the crypto lending industry, collateral is any blockchain-based asset used to secure loans from a lender as a security measure when taking out a loan. By allowing borrowers to pledge those assets, the lender guarantees that the loan is going to be repaid.

Despite the high volatility of digital assets, Standard Chartered’s Margaret Harwood-Jones, global head of financing and securities services, is bullish on crypto collaterals as a major step in the evolution of institutional crypto services.

A visual of the crypto lending process with collaterals and deposits. Source: CoinRabbit

Related: Xapo Bank launches Bitcoin-backed USD loans targeting hodlers

“Our collaboration with OKX to enable the use of cryptocurrencies and tokenized MMFs as collateral represents a significant step forward in providing institutional clients with the confidence and efficiency they need,” Harwood-Jones said, adding:

“By leveraging our established custody infrastructure, we are ensuring the highest standards of security and regulatory compliance, fostering greater trust in the digital asset ecosystem.”

According to Ryan Taylor, group head of compliance at Brevan Howard, the program is another example of the ongoing innovation and institutionalization in the crypto industry.

“As a significant investor in the digital assets space, we are thrilled to partner with industry leaders to further grow and evolve the crypto ecosystem globally,” he noted.

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