Hi Reader,

Thanks for reading The BlockByte Weekly, where we summarise the key updates in crypto over the last week and provide our perspective on what you need to know as an investor.​

Executive Summary

• Markets Flat As Investors Wait For April 2nd Tariff Announcements & Earnings Call
• Global Money Supply Is Increasing, Setting Up Bullish Fundamentals For Months Ahead
• White House Wants To Buy "As Much Bitcoin As They Can Get"​

Big 5 Assets Over The Last Week

Market Update

Markets Flat As Investors Wait For April 2nd Tariff Announcements & Earnings Call

In a recent post, Makus Thielsen of 10X Research noted that "Large investors will likely remain on the sidelines ahead of the expected Trump tariff announcements on April 2 and the start of the U.S. corporate earnings season, which starts around April 11 with major banks reporting". To add to the economic uncertainty, DOGE has slashed over 100,000 jobs from the 2.3m US government workforce, which will further add to near-term economic pain as the new administration looks to bring the $1.83T annual budget deficit under control. Until there is more clarity around confirmation of tariffs and corporate earnings, we expect this market to continue to chop sideways for the coming weeks.

Global Money Supply Is Increasing, Setting Up Bullish Fundamentals For Months Ahead

In more positive news for markets, the Federal Reserve announced that from April 1st it will be reducing its quantitative tightening (QT) measures by about $20B per month. In effect, this means there will be $20B in additional liquidity available to the government to manage ongoing disruptions and economic impacts from tariffs. In addition, the world's second largest economy, China, announced that it is targeting 5% growth for the economy in 2025 and has already begun unveiling larger stimulus plans than 2024. Premier Li Qiang said "Beijing plans to issue 1.3 trillion yuan ($179 billion) in ultra-long special treasury bonds this year, up from 1 trillion yuan in 2024. Local governments will be allowed to issue 4.4 trillion yuan in special debt, up from 3.9 trillion yuan."

Why does this matter for your crypto investment portfolio?

Typically, as governments begin loosening economic policies (lowering interest rates and introducing more money into their economies), asset prices tend to rise. In the chart below, global money supply (also known as M2), in yellow, has been pushed forward ~72 days. As you can see, bitcoin's price has tracked global money supply with a high degree of correlation. With global money supply now increasing for the first time this year, it sets up a potentially more bullish few months ahead for digital assets.​

White House Wants To Buy "As Much Bitcoin As They Can Get"

In this week's Digital Asset Summit (DAS) held at the White House, President Trump reaffirmed his stance on making America the "bitcoin superpower and crypto capital" of the world. In a speech worth watching below, Trump also outlined how industry participants will be free to innovate, experiment and improve the financial system to drive economic growth. From our perspective, Bitcoin and the digital asset industry is now poised for global nation state levels of adoption, despite the near-term volatility, the crypto narrative has never looked more positive. To add to this, Bo Hines, Executive Director of the Presidential Council of Advisers for Digital Assets also responded to a reporter's question of "how much bitcoin does the US plan to accumulate?" His response: "As much as we can possibly get in budget neutral ways".

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@AltcoinGordon

Trumps speech at the digital asset summitHe said that meme coins are the backbone of America and what the American dream is all about 😳🔥

2:20 AM • Mar 21, 2025

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Until next week,James

James BrannanManaging DirectorBlockByte​(+61) 412 393 634​james@blockbyte.com.au​​https://blockbyte.com.au/​

BlockByte does not provide financial advice. We provide a personalised brokerage service with tailored support, research and secure custody for investing in digital assets. Reach out to our team to discuss how we can help.

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