Bitcoin (BTC) danced around $80,000 at the April 8 Wall Street open as US stock markets staged a fresh recovery, but unresolved tensions between China and the US continue to put a damper on BTC’s upside.

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

Hayes: Bitcoin can repeat historic China inflows

Data from Cointelegraph Markets Pro and TradingView showed BTC price volatility cooling while the S&P 500 and Nasdaq Composite Index gained up to 4.3% in the first few hours of trading.

Stocks built on a strong rebound that had accompanied the start of the week’s TradFi trading, alleviating fears of a 1987 “Black Monday” style crash. 

US trade tariffs nonetheless stayed top of the agenda for traders, who in particular eyed the ongoing war of words with China.

In a post on Truth Social, US President Donald Trump claimed that Beijing “wants to make a deal, badly, but they don’t know how to get it started.”

“We are waiting for their call,” he told readers.

Source: Truth Social

Bitcoin advocates eyed the devaluation of the yuan as part of China’s tariff response and the potential inflows to hedges such as BTC as a result.

“Xi’s major weapon is independent monetary policy which necessitates a weaker yuan,” Arthur Hayes, ex-CEO of crypto exchange BitMEX, wrote in part of X coverage of the topic.

Hayes suggested that either the People’s Bank of China (PBoC) or the US Federal Reserve would ultimately provide the fuel for a BTC price rally.

“If not the Fed then the PBOC will give us the yachtzee ingredients,” he argued in his characteristic style. 

“CNY deval = narrative that Chinese capital flight will flow into $BTC. It worked in 2013 , 2015, and can work in 2025. Ignore China at your own peril.”

USD/CNY 3-day chart. Source: Cointelelgraph/TradingView

The Fed, meanwhile, could boost Bitcoin and risk assets by lowering interest rates to stimulate growth. In a blog post on the day, AllianceBernstein predicted this happening even as tariffs added to inflationary pressures.

“If the economy slows, as we expect it will, the Fed will be inclined to cut rates even if price levels are high,” Eric Winograd, the firm’s Developed Market Economic Research director wrote. 

“The view is that actual inflation tells us what the economy was doing but not what it will do. The Fed has cut rates before with inflation elevated, and we expect it to do so again unless—a very big ‘unless’—inflation expectations become unanchored.”

Fed target rate probabilities (screenshot). Source: CME Group

Winograd said that AllianceBernstein expected 75 basis points of rate cuts in 2025, with the latest data from CME Group’s FedWatch Tool showing markets betting on the first of these coming at the Fed’s June meeting.

Related: $2T fake tariff news pump shows ‘market is ready to ape’

Fibonacci offers a “big level to watch” for BTC price

Considering the global market tumult of the last three days, Bitcoin’s price action has remained eerily cool on the shorter timeframes as snap price moves gave way to consolidation.

For traders, among the key levels to watch was the 0.382 Fibonacci retracement level, currently near $73,500.

“In a bull market, the 38.2% Fibonacci retracement acts as key support,” popular trader Titan of Crypto explained, describing BTC/USD as “in a reversal zone.”

“As long as BTC closes above it, the uptrend remains intact, even with a wick below.”

BTC/USD 1-month chart with Fibonacci levels. Source: Titan of Crypto/X

Fellow trader Daan Crypto Trades also underscored the level’s potential significance, with it coinciding with old all-time highs from March 2024.

“$BTC Has respected its .382 Fibonacci retracements, measured from the cycle bottom to the local tops, quite well so far,” he told X followers. 

“This is the 3rd time we get such a test this cycle. This time we got some confluence from the 2024 highs as well. Big level to watch.”

Other important trend lines, as Cointelegraph reported, include the 200-day simple moving average (SMA), a classic bull market support line that was lost when BTC first fell below $82,000.

BTC/USD 1-day chart with 200 SMA. Source: Cointelegraph/TradingView

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.

Binance is planning to delist 14 tokens from its platform on April 16 in a move designed to purge low-quality projects that do not adhere to the crypto exchange’s tighter listing requirements. 

The tokens are being delisted following a “comprehensive evaluation of multiple factors,” including the exchange’s first “vote to delist” results, where community members nominated projects with less than stellar metrics, Binance announced on April 8.

Other factors included the team’s commitment to the project, development activity, trading volume and liquidity, network stability, responsiveness to Binance’s due diligence requests and new regulatory requirements. 

The tokens selected for delisting are Badger (BADGER), Balancer (BAL), Beta Finance (BETA), Cream Finance (CREAM), Cortex (CTXF), Aaelf (ELF), Firo (FIRO), Kava Lend (HARD), NULS (NULS), Prosper (PROS), Status (SNT), TROY (TROY), UniLend (UFT) and VIDT DAO (VIDT).

Source: Binance

Binance has tightened its listing requirements over the past year in an attempt to boost investor protections. In March 2024, the company extended its so-called “cliff period” — or the length of time listed tokens can’t be sold — to at least one year, according to Bloomberg. 

Related: Binance co-founder clarifies asset listing policies, dispels FUD

As tokens proliferate, listing requirements tighten across the board

Binance isn’t the only cryptocurrency exchange to tighten its listing requirements amid increased regulatory scrutiny. Last October, Bitget announced an overhaul of its token listing process, prioritizing factors such as fully diluted valuation, investor lock-up periods and project business plans. 

In South Korea, crypto exchanges have also beefed up their listing requirements due to new regulations, which included limitations on tokens that have been traded domestically for less than two years.

Stringent listing requirements are also needed to weed out the flood of new tokens that are hitting the market every day.

In the wake of the memecoin mania, platforms like CoinMarketCap track a staggering 13.24 million cryptocurrencies. The actual number of cryptocurrencies far exceeds that level. 

Some analysts have argued that the oversupply of tokens partly explains why the long-awaited “altseason” never really took off this cycle. 

The surge in the number of cryptocurrencies may have diluted altseason. Source: Ali Martinez

“Today, there are over 36.4 million altcoins, compared to fewer than 3,000 during the 2017-2018 alt season and even fewer than 500 altcoins in 2013-2014,” crypto analyst Ali Martinez wrote on social media.

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Despite the ongoing market meltdown on US trade tariffs, executives at major cryptocurrency firms Messari and Sygnum are bullish on institutional Bitcoin adoption later in 2025.

Speaking on a panel at Paris Blockchain Week on April 8, Messari CEO Eric Turner and Sygnum Bank co-founder Thomas Eichenberger said they expect a significant shift in the banking sector’s involvement with crypto in the second half of the year.

According to the executives, the global banking push into Bitcoin (BTC) services has great potential to happen in the second half of 2025 as regulators embrace crypto, including stablecoins and crypto services by banks.

“I think we’re probably looking at a muted Q2, but I’m really excited for Q3 and Q4,” Messari’s Turner said during the panel discussion moderated by Cointelegraph CEO Yana Prikhodchenko, forecasting “really interesting” things coming to the crypto market in 2025.

Crypto adoption is not just about Trump

While some investors focus on the pro-crypto stance of US President Donald Trump, Turner emphasized that broader regulatory momentum is what matters most.

“When you look at the potential of having market structure regulation in the US, stablecoin regulation, and just the fact that across the board, not just President Trump himself, but the SEC and all these regulatory industries are really embracing crypto,” Turner said.

Paris Blockchain Week’s panel with Cointelegraph CEO Yana Prikhodchenko, Bancor co-founder Eyal Hertzog, Sygnum co-founder Thomas Eichenberger, Messari CEO Eric Turner, AWS fintech leader Alex Matsuo and Near chief operating officer Chris Donovan. Source: Cointelegraph

Sygnum co-founder Thomas Eichenberger said international banks with US branches are also poised to enter the market once the legal landscape becomes clearer:

“I think it’s a matter of fact that US banks are preparing to be able to offer crypto custody and at least crypto spot trading services anytime soon.”

“I think by then I would agree with you, Eric,” he continued, projecting a continued phase of market uncertainty until the US establishes a clear regulatory framework.

Related: Ripple acquires crypto-friendly prime broker Hidden Road for $1.25B

Banks are no longer afraid of Bitcoin regulators

With the establishment of clear crypto rules for banks in the US, there will be a rush for crypto services by large international banks that are incorporated outside of the US but have a US-based presence, Eichenberger said.

“Some of them may have had their strategic plans in their cupboard to offer crypto-related services, but have been afraid that at some point they will be gone after by any of the  US regulatory authorities,” he said, adding:

“Now I think there’s no one to be afraid of anymore in terms of regulatory authorities worldwide. So I think many of the large international banks will launch this year.”

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