Welcome to the US Morning Crypto Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee to see how Standard Chartered sees early signs of institutional investors turning to Bitcoin as a hedge against equity market volatility, just as traders gear up for a potentially volatile week driven by tariff news. At the same time, Coinbase wraps up its worst quarter since the FTX collapse, and U.S. regulators inch closer to unified stablecoin legislation.
Standard Chartered Sees Signs of Bitcoin Starting to Be Used as Hedge Against Market Volatility
Geoff Kendrick, Head of Digital Assets Research at Standard Chartered, sees signs that institutional traders are starting to use Bitcoin as a hedge against equity market volatility.
In a recent exclusive interview with BeInCrypto, Kendrick highlighted that this trend is already underway, with investors seeking alternatives to traditional instruments. “This is happening already,” Kendrick stated. “Investors used to use FX, specifically AUD, for this purpose due to its highly liquid and positive correlation to stocks, but now I think Bitcoin is being used because it is also highly liquid and trades 24/7.”
Additionally, in an investor note from late March, Kendrick expanded on Bitcoin’s evolving role in investment portfolios, suggesting that over time, Bitcoin may serve multiple purposes—both as a hedge against traditional financial market fluctuations and as a proxy for tech stocks.
He pointed out signs that markets could anticipating a less severe tariff announcement from the U.S. on April 2. “Given this has been the worst quarter for the Nasdaq since Q2 2022, there should be a degree of portfolio rebalancing (buying) that needs to take place,” Kendrick added.
As of April 1, 2025, Bitcoin has shown resilience amid broader market uncertainties. The cryptocurrency is up approximately 3.32%, trading at $84,282. This uptick comes alongside an overall increase in the global cryptocurrency market capitalization. In contrast, U.S. stock futures, including Dow Futures, S&P 500 Futures, and Nasdaq Futures, are all trending lower in pre-market trading, reflecting investor caution ahead of the anticipated tariff announcements.
Bitcoin Options Heat Up Before Trump’s “Liberation Day”
FalconXCrypto Global Co-Head of Markets, Joshua Lim, noted that in anticipation of Wednesday’s Trump-tariff “Liberation Day,” crypto funds are actively purchasing Bitcoin options at two key strike prices: $75,000 on the downside to hedge against potential losses and $90,000 on the upside to capitalize on a price surge.
Lim highlighted that the options market is pricing in a potential 4% move in Bitcoin’s price during the event. “The implied event move embedded in Bitcoin options is around 4% for the 2 April event,” he told BeInCrypto.
He also pointed out that traders are likely to keep buying put options in the short term as a protective measure, maintaining a high options cost premium. “We believe the front of the options curve will hold its premium as traders continue to hedge their portfolios or replace spot positions with limited-loss option positions,” Lim added.
Additionally, he noted a 4-point increase in the VIX, signaling that investors expect heightened volatility in the coming days and are turning to options to manage risk or capitalize on price swings. “US equities are also showing a bid in options, with the front-month VIX up 4 points to 22v from last week,” he said.
Crypto Stocks Slide: Coinbase Suffers Worst Quarter Since FTX Collapse
Coinbase is closing out its roughest quarter since the FTX collapse, with its stock tumbling over 30% since January. While it dipped nearly 1% in early U.S. pre-market trading on Monday, the stock managed to claw back losses and is now up around 1%.
Other crypto-linked companies are also feeling the pressure. Galaxy Digital Holdings has dropped over 8% in pre-market trading, while mining firms Riot Platforms and Core Scientific are only barely staying afloat, each gaining less than 0.5%.
Meanwhile, CoreWeave, which pivoted from Bitcoin mining to AI infrastructure, is struggling after a disappointing IPO. Initially aiming for a $2.7 billion raise, the company had to settle for $1.5 billion, slashing its offer price from the $47–55 range to $40 per share. Since going public last Friday, its shares are down 6.8%, with a 7.3% drop recorded in the last 24 hours.
Byte-Sized Alpha
– Today’s JOLTS report, a key gauge of U.S. job openings, could sway Bitcoin—strong data may boost the dollar and hurt crypto, while a sharp decline could fuel rate-cut hopes and lift risk assets.
– Bitcoin is off to its worst quarterly start since 2018, dropping nearly 12% in Q1 2025—but growing whale accumulation, falling exchange supply, and signs of consolidation hint at a potential rebound ahead.
– Crypto scams are on the rise, with fake Gemini bankruptcy emails and a Coinbase employee breach fueling phishing attacks
– OKX has appointed former NYDFS Superintendent Linda Lacewell as Chief Legal Officer, a move aimed at bolstering its regulatory credibility as the exchange accelerates global expansion into regions like Europe and the UAE.
– A unified U.S. stablecoin regulation could soon become reality, as the STABLE and GENIUS Acts differ by only 20% and enjoy strong bipartisan support alongside SEC and CFTC involvement.
– A push for expanded crypto oversight is underway as incoming CFTC Chair Brian Quintenz meets with Senator Chuck Grassley to discuss regulating the crypto spot market.
Disclaimer
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