{"id":29763,"date":"2025-06-02T12:03:59","date_gmt":"2025-06-02T12:03:59","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=29763"},"modified":"2025-06-02T12:03:59","modified_gmt":"2025-06-02T12:03:59","slug":"crypto-daybook-americas-tariffs-to-dominate-narrative-as-btc-etf-volumes-surge","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=29763","title":{"rendered":"Crypto Daybook Americas: Tariffs to Dominate Narrative as BTC ETF Volumes Surge"},"content":{"rendered":"
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By Omkar Godbole (All times ET unless indicated otherwise)<\/p>\n

The recent TACO<\/a> tease, implying “Trump Always Chickens Out” on tariffs, likely didn’t go down well with the President, who raised the stakes in the ongoing trade war on Friday, leading to broad-based risk aversion, which persists as of writing.<\/p>\n

On Friday, Trump said that on June 4, the U.S. tariffs on imported aluminum and steel would go from 25% to 50%, triggering a broad-based risk-off move across global markets. Bitcoin has since traded in the range of $103,000-$106,000, with little to no excitement in the broader crypto market. Notably, BlackRock’s spot bitcoin ETF (IBIT) registered an outflow of $430 million, ending a prolonged inflows streak.<\/p>\n

“Tariff tensions will likely dominate the macro narrative through June, with meaningful policy deadlines only kicking in from 8 July. In the absence of fresh catalysts, BTC could remain rangebound, with the $100k and $110k levels critical to watch given their status as strikes with the highest month-end open interest,” Singapore-based trading firm QCP Capital said.<\/p>\n

ETFs are becoming increasingly important to the market. Data shared by FalconX’s David Lawant shows that the cumulative trading volume in the 11 spot BTC ETFs listed in the U.S. is now well over<\/a> 40% of the spot volume. The data supports the “Bitcoin ETFs are the new marginal buyer” hypothesis, according to Bitwise’s Head of Research – Europe, Andre Dragosch.<\/p>\n

Meanwhile, on-chain data tracked by Glassnode showed a drop in momentum buyers alongside a sharp rise in profit takers last week. “This trend often shows near local tops, as traders begin locking in gains instead of building exposure,” Glassnode said.<\/a><\/p>\n

High-stakes crypto trader James Wynn opened a fresh BTC long trade with 40x leverage and a liquidation price of $104,580, according to blockchain sleuth Lookonchain<\/a>.<\/p>\n

In other news, Japan\u2019s \u201cMicroStrategy\u201d Metaplanet announced<\/a> an additional purchase of 1,088 BTC, and billionaire entrepreneur Elon Musk announced<\/a> a new XChat with Bitcoin-like encryption.<\/p>\n

Binance’s founder CZ said on X<\/a> that now might be a good time to develop a dark pool-style perpetual-focused decentralized exchange, noting that real-time order visibility can lead to MEV attacks and malicious liquidations.<\/p>\n

In traditional markets, gold looked to break out of its recent consolidation, hinting at the next leg higher as Bank of America<\/a> and Morgan Stanley<\/a> forecast continued dollar weakness. Friday’s U.S. nonfarm payrolls release will be closely watched for signs of labor market weakness. Stay Alert!<\/p>\n

What to Watch<\/strong><\/h2>\n