[Crypto Market Update] Bitcoin Dips Slightly as U.S. Stocks Rally, Trading Near 130 Million Won

# Trump Administration’s Tariff Reduction Boosts U.S. Stocks While Bitcoin Declines The Trump administration has signed an executive order to ease overlapping tariffs on automobiles, lifting U.S. stock markets across the board, while digital asset markets, including Bitcoin (BTC), showed mild declines. At 8:40 a.m. local time on the 30th, Bitcoin (BTC) was trading at 1,359,900 KRW on the domestic exchange Upbit, marking a 0.6% drop from the previous day. On Binance, BTC dipped 0.38% to $93,930. Ethereum (ETH) and Solana (SOL) fell by 0.56% and 1.61%, respectively, with XRP (XRP) experiencing a sharper decline of 2.78%. According to CoinGlass, approximately $38.49 million (551 billion KRW) worth of Bitcoin positions were liquidated in the past 24 hours, of which 61% were long positions. Total digital asset market liquidations amounted to $180.75 million (2.59 trillion KRW). # Trump Administration Tariff Reduction Sparks Stock Market Rally Bloomberg reported that the Trump administration enacted a new executive order to alleviate tariff burdens on imported vehicles. The measure focuses on exempting aluminum and steel tariffs traditionally levied on imported cars. Previously, automakers faced significant costs due to these raw material tariffs in addition to general import duties. The tariff reduction announcement improved investor sentiment, sparking a rally on the New York Stock Exchange. The Dow Jones Industrial Average closed up 0.75% at 40,527.62. The S&P 500 index gained 0.58% to end at 5,560.83, while the tech-heavy Nasdaq rose 0.55% to settle at 17,461.32. # U.S. Economic Data Weighs on Bitcoin Despite the stock market’s rally from the tariff changes, Bitcoin and the broader digital asset market struggled as weak U.S. economic data dampened upward momentum. The U.S. Department of Labor reported on the 29th that the March Job Openings and Labor Turnover Survey (JOLTS) showed 7.192 million job openings as of the end of last month, a drop of 288,000 from February and a sharp miss against the market expectation of 7.5 million. Consumer confidence data released the same day compounded market challenges. According to the Conference Board, the U.S. Consumer Confidence Index dropped to 86.0 in April, a 7.9-point decrease from the prior month and the lowest level since May 2020. The Expectations Index also plummeted to 54.4, marking its lowest reading since 2011. The succession of weak economic indicators has heightened market uncertainty. Jeff Park, Head of Alpha Strategy at Bitwise, warned, “The market is overly fixated on the Federal Reserve’s potential rate cuts, but the fundamental risk lies in the potential destabilization of the U.S. government’s creditworthiness. Over-focusing on short-term policy shifts detracts from addressing core systemic risks.” # Fear-Greed Index Reflects Moderating Greed Meanwhile, the Alternative Fear & Greed Index, which measures investor sentiment in the digital asset market, stood at 56 (“Greed”) on the same day, down slightly from the previous day’s 60. A reading closer to 0 indicates strong investor selling sentiment, while a score near 100 suggests a heightened tendency for buying.