Bitcoin Dominance Could Surge to 70% as Financial Uncertainty Grows: Arthur Hayes
BitMEX co-founder Arthur Hayes predicts Bitcoin’s market dominance may climb toward 70% amid deepening global financial instability, citing subdued risk appetite for altcoins and eroding confidence in traditional finance.
Bitcoin Dominance Could Reach 70% Amid Financial Uncertainty – Arthur Hayes
Arthur Hayes, BitMEX co-founder, predicts that Bitcoin’s dominance could climb towards 70% as global financial uncertainty deepens. Hayes noted that risk appetite for altcoins remains subdued, with Bitcoin seen as the safer bet until the Federal Reserve resumes printing money. This shift is expected to be driven by declining confidence in traditional financial systems. According to CoinMarketCap data, Bitcoin currently commands around 63% of the total crypto market capitalization, its highest share in over four years.
Bitcoin ETFs See $172M Weekly Outflows Amid Market Drop
U.S. spot Bitcoin ETFs experienced significant outflows totaling $172.89 million last week due to a broader crypto sell-off. This ended two weeks of strong inflows. Investor confidence was shooken by President Trump’s new tariff strategy, contributing to the sharp drop in crypto markets and ETF investments. While most ETFs, led by Grayscale with a $95.5M outflow, faced losses, some funds like Franklin Templeton and Fidelity bucked the trend, recording $61.8M in net inflows.
Strategy Not Expecting Q1 Profit Due to Unrealized Bitcoin Losses
Strategy, formerly known as MicroStrategy, announced on Monday that it does not expect a first-quarter profit due to nearly $6 billion in unrealized losses on its Bitcoin holdings. The value of its Bitcoin holdings fell $5.91 billion on paper in Q1, according to an SEC filing. The company stated that it may not regain profitability in future periods if it incurs significant unrealized losses related to its digital assets. However, a $1.69 billion tax benefit should partially offset its unrealized losses in Q1. Over the past week, Strategy did not purchase any more Bitcoin, leaving its holdings unchanged.
Metaplanet Repays Over $13m in Bonds Early Using Warrant Proceeds
Metaplanet Inc. has completed the early redemption and full repayment of its 9th Series of Ordinary Bonds totaling ¥2 billion ($13.5 million). The bonds, originally set to mature in September 2025, were issued to EVO FUND on March 18 without interest. The company had previously redeemed ¥1.5 billion of the bonds on March 27, citing proceeds from the exercise of stock acquisition rights issued through third-party allotments. The remaining ¥500 million balance was settled on April 4, marking the full closure of the bond issuance. Metaplanet Inc., formerly known as Red Planet Japan, is a Japanese company that has pivoted to become a Bitcoin treasury firm listed on the Tokyo Stock Exchange.
Stocks Volatile, BTC Stays at $78K Amid Fake News on Tariffs
US equities experienced significant volatility Monday morning, with the S&P 500 initially surging 8% before dropping 3.5% within seconds due to what the White House termed as “fake news” regarding upcoming tariffs. The rumor was apparently spurred by a comment from President Trump’s top economic advisor during a Fox News interview. Meanwhile, Bitcoin traded sideways around $78,000 after briefly dipping below $80,000 Sunday evening. Investors appeared to react to popular social media accounts claiming a potential three-month pause on implementing tariffs, which the White House quickly denied as fake news.
Binance: Trade War Erases $1 Trillion in Crypto, Bitcoin Acts Like Risk Asset
The escalating trade war between the US and other countries has hit both Bitcoin (BTC) and stocks. Traders are reassessing risk assets and turning to gold, causing the crypto market cap to lose $1 trillion. According to the latest Binance report, escalating US tariffs are spiking fears in both the crypto and stock markets. The Donald Trump administration has announced a 10% blanket tariff on all countries, effective April 5, with higher rates for several jurisdictions, including a 34% tariff on China, a 20% tariff on the EU, and a 24% tariff on Japan. These tariffs have pushed average US tariffs to 18.8%, the highest level since the Smoot-Hawley Tariff Act.
