The Turbulent March Comes to an End: Tariff Liberation Advances as the Market Remains Vigilant
As the United States President Trump Approaches “Tariff Liberation Day” on April 2
With the approach of U.S. President Trump’s “Tariff Liberation Day” on April 2, volatility in the U.S. stock market has increased. The S&P 500 index once hit a six-month low but closed up 0.55%. The Dow Jones Industrial Average fell 0.14%. The tumultuous month of March has finally ended, with all three major U.S. stock indices closing in the red for both quarterly and monthly performance, prompting investment banks to lower their target prices. The top ten cryptocurrencies by market capitalization showed mixed results, with Bitcoin consolidating between 81K and 84K, while ETH dropped below 1,800 USD multiple times, disappointing many investors.
Today, ETHTaipei Will Be Grandly Held at POPOP Taipei in Nangang, Taipei
This year’s event not only continues the technical depth of previous editions but also introduces a music stage, live painting, and traditional Taiwanese banquet-style dining for the first time. Let us temporarily set aside concerns over coin prices and immerse ourselves in the unique charm of Taiwan amidst the fusion of technology and culture!
(ETHTaipei 2025: Ethereum Foundation Executive Director Wang Xiaowei will share the stage with Vitalik, combining music and banquet for the first time)
(ETHTaipei is about to launch, with recommended food spots around Nangang)
The Turbulent Month of March Finally Ends
The March volatility has concluded with all three major U.S. stock indices closing in the red for the quarter and the month. Gold prices reached historic highs as Trump hinted at potential measures to reduce oil imports from Russia, causing oil prices to rise. The index of the “Seven Giants” has seen a decline of 16% this quarter.
The S&P 500 index accumulated a decline of 5.8%, marking its largest monthly drop since December 2022. The Nasdaq index plummeted by 8.2%, while the Dow Jones closed down 4.2% for the month.
In the first quarter of 2025, the S&P 500 index fell by 4.6%, ending a five-quarter upward trend. The Nasdaq experienced a significant drop of 10.4%, and the Dow Jones fell by 1.3%.
Trump’s “Tariff Liberation Day” Approaches, Wall Street Lowers S&P Target Prices
Traders are feeling uneasy about the new tariffs to be announced by the Trump administration on Wednesday, as they attempt to navigate the largest risk the market has faced in years.
A spokesperson for Trump stated that the upcoming announcement will feature “national security-based” tariffs, but added that the president is also “committed” to implementing industry tariffs at other times.
A survey conducted by 22V Research revealed that 73% of investor respondents believe that uncertainty will not peak on Wednesday.
Research firm Yardeni Research has lowered its year-end expectation for the S&P 500 index from 6,400 points to 6,000 points, stating, “A favorable outcome would be the U.S. willing to negotiate on lowering tariffs, but if the U.S. imposes a 20% tariff on all imported goods, that outcome is unattainable.”
Goldman Sachs also reduced its year-end target price for the S&P 500 index from 6,200 points to 5,700 points.
Mixed Results for the Top Ten Cryptocurrencies
The top ten cryptocurrencies by market capitalization exhibited mixed results, with Bitcoin consolidating between 81K and 84K. Cryptocurrency traders have flocked to the options market to hedge against further price declines. The open interest for put options with a strike price of 80,000 USD is the highest among contracts expiring on April 4, indicating a rising demand for downside protection.
(April 2 “Tariff Liberation Day” approaches, Bitcoin faces the battle to defend 80K)
ETH has dropped below 1,800 USD several times, with recent weak coin prices disappointing many. Renowned crypto analyst 0xLoki released the latest data tracking the Ethereum (ETH) ecosystem, revealing that in the first quarter of 2025, the ETH ecosystem faced a complete collapse, with hardly any sector maintaining positive growth. However, DeFi analyst DefiIgnas and user fabdarice offered an alternative perspective, emphasizing that L1 blockchain value assessment should not rely solely on transaction fees but also consider key aspects such as decentralization and ecosystem maturity.
(Is declining transaction revenue indicative of decline? Ignas: The essence of Ethereum’s value has been reshaped in evolution)
Risk Warning
Investing in cryptocurrencies carries a high level of risk, and prices can be extremely volatile, potentially resulting in the loss of your entire principal. Please assess the risks carefully.
