Apr 14, 2025: Our weekly Institutional Insights explores the latest market developments — market performance, industry news, exchange-traded fund (ETF) flows, trending topics, upcoming events and token unlocks — to help you supercharge your crypto trading.

 explores the latest market developments — market performance, industry news, exchange-traded fund (ETF) flows, trending topics, upcoming events and token unlocks — to help you supercharge your crypto trading.

Weekly highlight — Apple exemptions send crypto higher 

US president Donald Trump’s administration recently exempted smartphones, computers and other electronics from reciprocal tariffs, providing significant relief for major technology manufacturers like Apple and NVIDIA. This move, announced by US Customs and Border Protection, limits the impact of Trump’s 125% tariff on goods from China and baseline 10% global tariff affecting many countries.

The exclusions cover popular electronics, such as smartphones, laptops, hard drives and memory chips, typically not domestically produced. This decision is welcome news for consumers who feared rising prices due to potential tariffs. It also benefits major tech companies that have made substantial investment pledges in the US domestic markets to the Trump administration.

The tariff reprieve marks a noteworthy easing in Trump's trade conflict with China, effective retroactively from April 5. White House Press Secretary Karoline Leavitt emphasized that America must not depend upon China for critical technologies, highlighting the president's efforts to secure substantial investments from leading tech firms to bolster domestic manufacturing. 

However, the reprieve may be temporary. The exclusions stem from an initial order designed to prevent cumulative tariffs on specific sectors. While certain semiconductor manufacturing equipment is excluded, the announcement doesn’t cover the 20% tariff targeting China, aimed at addressing fentanyl shipments.

Analysts note that while this exemption is a win for the tech industry, uncertainty remains regarding future tariffs. The administration is poised to further investigate semiconductor imports, potentially leading to new tariffs in the coming weeks. As negotiations evolve, other countries may seek similar exceptions, complicating the trade landscape. 

Overall, while this announcement offers temporary relief, the future of tariffs remains uncertain as the administration continues its aggressive trade policies.

Weekly crypto highlight — Bitcoin has its role to play amid volatility

The concept of "safe haven" assets, traditionally represented by gold and government bonds, is being challenged in today’s volatile markets. For decades, investors relied on a classic portfolio structure of 60% equities and 40% bonds, with capital flowing into gold and government bonds during market downturns. These assets were seen as stable and reliable, ideal for safeguarding against volatility. However, in a world marked by constant market activity, geopolitical unrest and rising skepticism toward governments, the definition of a safe-haven asset may require reevaluation.

Enter Bitcoin, a highly volatile and often misunderstood asset. Despite skepticism from many investors, Bitcoin has significantly outperformed traditional safe-haven assets since the COVID-19 market lows, rising over 1,000% since March 2020. In contrast, long-duration bonds have dropped by 50%, and gold, while up 90% over five years, appears less impressive when adjusted for monetary inflation.

However, Bitcoin's status as a safe haven remains debated. During various risk-off events, it’s behaved more like a high-beta asset than a protective hedge. For instance, in March 2020, BTC fell 40%, while the Nasdaq-100 dropped 27%. But during the recent tariff-led sell-off in April 2025, Bitcoin held up better than the Nasdaq-100, suggesting emerging strength.

Non-sovereign assets like Bitcoin could thrive amid geopolitical tensions, given their decentralized, censorship-resistant nature. Traditional safe havens like gold and long-duration bonds are losing their luster, with gold’s gains overshadowed by monetary expansion and rising yields on Treasury bonds.

As Bitcoin continues to demonstrate resilience, it may challenge the notion of what constitutes a safe haven. While it may not fit the classic definition of a low-volatility asset, its durability, neutrality and liquidity make it increasingly relevant in today’s financial landscape. Thus, the traditional playbook for safe-haven assets may need an update.

Advanced

Bybit Institutional_Weekly Poster (1) (2).png

Weekly Institutional Insights: Apple exemptions send crypto higher; Bitcoin’s role to challenge gold

Our weekly crypto derivatives analytics report delves into macro events; the current state of crypto and trading signals from spot trading volume; and futures, options and perpetual contracts.

After initially resisting US president Trump’s “Liberation Day” tariffs, crypto markets joined the global sell-off, with BTC falling from $87K on April 2 to a low of $74K. BTC’s term structure was inverted again before easing, while ETH’s term structure remained inverted. Meanwhile, short-term BTC volatility skews favored OTM puts, reflecting more bearish sentiment than during the Q1 2023 US banking crisis. However, volatility levels decreased after Trump announced a 90-day pause on tariffs (excluding those on China), leading to a significant rally in spot prices.

Please check out the report’s highlights.

BTC open interest declined substantially this week

Bybit’s largest perpetual swap markets initially remained stable during the broader market sell-off and tariff reactions, recovering from the dip after the 

. However, Trump’s recent announcement and subsequent pause of near-unilateral import tariffs significantly impacted these markets, leading to notable declines in open interest for BTC and ETH, which have fallen sharply from their late March highs.

After a brief period of positive funding rates, BTC’s perpetual swap market fluctuated between positive and negative sentiment, indicating traders were hesitant to commit to a strong directional move (similar to trends in options markets). This changed when President Trump announced a 90-day tariff relief, leading to positive jumps in funding rates. Altcoins displayed a similar pattern, with funding rates alternately positive and negative before rising following the tariff announcement.

During the April 6–7, 2025 sell-off, traders sought downside protection, as BTC's spot price fell to $75K in reaction to President Trump’s tariff announcement. The high volume of put options relative to calls indicates strong demand for this protection. Meanwhile, the US's reciprocal tariffs caused a significant inversion in BTC’s at-the-money volatility term structure, which, although it has eased, remains inverted. Additionally, there‘s a stronger skew toward OTM puts at short tenors as compared to the March 2023 US banking crisis. Put open interest has surged over the past week, reflecting extremely bearish sentiment for both the near and long terms.

block-scholes-x-bybit-report.jpeg

Bybit X Block Scholes crypto derivatives analytics report (Apr 9, 2025): Tariffs bring substantial volatility at a level similar to that of the Q1 2023 US banking crisis

In this tutorial, we’ll explore how you can stake and mint Lombard LBTCv on Bybit Web3 Staking with the Bybit Web3 Seed Phrase Wallet. 

In this tutorial, we’ll explore how you can stake BTC to mint 

Please note that in order to get started, you’ll first need to download the Bybit App on the Apple App Store or Google Play Store. 

How to stake and mint LBTCv with Bybit Web3 Staking

: Launch the Bybit App on your mobile device and tap on the 

: Deposit BTC into your preferred Bybit Web3 Seed Phrase Wallet BTC address.

: Once you’ve deposited BTC into your wallet address, tap on the 

drop-down and select the BTC address into which you’ve deposited BTC. 

: Input the exact amount of BTC you’d like to stake, and tap on 

 and sign the message to allow this exact amount of BTC to be staked.

 page. Ensure that the amount of BTC is exactly the same as you wish to stake, and tap on 

: Tap on the icon located at the upper-right corner of the screen to check your transaction history.

: You’ll receive LBTCv in three progressive stages:

: Once you’ve received LBTCv, you can check your points (updated every hour).

If you wish to stake more BTC, simply repeat Steps 7 through 12. However, please

that you won’t be able to stake more BTC as long as you haven’t yet received your LBTCv.

To redeem your LBTC, simply scroll down the 

button. Then, wait three days for the successful redemption of LBTC.

If you wish to cancel your redemption, you can do so within these three days.

Beginner

lombard tutorial.png

How to stake and mint Lombard LBTCv with Bybit Web3 Staking

A Chainlink Spot ETF would bridge TradFi and crypto, offering a simplified way to gain exposure to LINK without the complexities of digital wallets or exchanges.

There's been a recent surge in spot ETF applications as investors look for ways to sidestep the rigid frameworks of traditional finance. The success of 

 — drawing billions in inflows — signals a major shift in the way institutions approach crypto investments. 

 networks, is in line for its own Spot ETF. The proposed fund promises a direct, hassle-free way to invest in Chainlink (LINK), eliminating the need to deal with complex 

 and exchanges. This article explores what a Chainlink Spot ETF is, how it would work, its current market impact and what its potential approval could mean for investors and the broader crypto landscape.

A Chainlink Spot ETF is an exchange-traded fund, backed by Chainlink (LINK) tokens, that would directly track the market price of LINK, a cryptocurrency powering decentralized oracle networks, thus enabling investors to gain exposure without directly holding the asset itself.

 (ETF) would offer investors direct exposure to LINK’s price movements without requiring the investors to handle the digital asset directly. 

Authorized Participants (APs), typically large financial institutions or market makers approved by the ETF issuer, play a central role in maintaining liquidity and aligning the ETF’s market price with its net asset value (NAV). These entities facilitate the creation and redemption of ETF shares by acquiring LINK tokens from exchanges or over-the-counter markets, and transferring them to the ETF’s custodian, a regulated entity responsible for secure storage. 

In exchange, the ETF issuer provides APs with newly created shares, which represent fractional ownership of the underlying assets. The shares are then introduced to secondary markets for investors to trade.

Creation, redemption and listing of shares

When redeeming shares, APs collect ETF shares from the market and return them to the issuer, receiving LINK tokens from the custodian in return. These tokens can be sold on the open market or held, depending upon the AP’s strategy. This creation-redemption process enables an 

 mechanism that stabilizes the ETF’s price, relative to its underlying assets. 

If the ETF is trading at a premium to NAV, APs create and sell shares to capitalize on the price difference, pushing the market price downward. Conversely, if the ETF is trading at a discount, APs redeem shares, reducing supply and driving the price upward. This dynamic ensures that the ETF’s market price remains closely tied to LINK’s actual value. 

Shares are listed on exchanges and traded like traditional stocks, integrating seamlessly into existing portfolios while offering potential tax efficiencies. The structure combines the accessibility of conventional investments with the benefits of cryptocurrency exposure, appealing to those seeking indirect participation in LINK’s market movements through a regulated and familiar framework. For investors, the ETF will simplify exposure to Chainlink by eliminating the need to manage 

 or wallets, or navigate complex crypto exchanges. 

The Hashdex Nasdaq Crypto Index US ETF, which includes Chainlink (LINK), has gained attention as a significant development in the crypto ETF space. This ETF, 

 in February 2025 and currently provides exposure to Bitcoin and Ethereum. 

 with the SEC on Mar 14, 2025 to expand the ETF's scope to include additional cryptocurrencies like LINK, ADA and SOL. This application remains the sole filing for a Spot Link ETF (as of Mar 20, 2025). While the SEC has approved the fund's initial structure, its response to the inclusion of Chainlink and other assets remains pending.

The SEC has historically been cautious about approving spot cryptocurrency ETFs, due to concerns about market manipulation and investor protection. However, the approval of multi-asset ETFs such as NCIQ signals a potential shift in regulatory attitudes. Market sentiment has been cautiously optimistic, with investors viewing these developments as a step toward broader acceptance and integration of cryptocurrencies into traditional financial systems. The timeline for the approval of Chainlink Spot ETFs remains uncertain, but growing institutional interest and regulatory advancements suggest progress in the near future.

Current impact of Chainlink Spot ETF applications on the crypto market

The anticipation surrounding Chainlink Spot ETF applications is clearly influencing market sentiment. Although Chainlink's price hasn’t yet surged dramatically, increased investor interest and speculation about potential ETF approvals have boosted overall optimism. 

Data from LINK and CoinGlass reveals that 

 have fallen to 138.8 million coins, the lowest since September 2024, indicating that investors are holding onto their tokens in self-custody wallets instead of selling. This trend reflects a growing belief that SEC approval for a Spot LINK ETF could substantially boost the token’s price. In addition, Chainlink’s role as one of the largest oracle networks and its innovative cross-chain interoperability protocol for asset tokenization further reinforce this positive outlook.

What will it mean if a Chainlink Spot ETF application is approved?

The approval of a Chainlink Spot ETF would have some significant implications for both the cryptocurrency market and traditional financial sectors, as follows.

If you’re looking to capture the market and trade LINK tokens, Bybit offers the 

A Chainlink Spot ETF would connect cryptocurrency with traditional finance by allowing investors to track LINK’s price without the complications of managing digital wallets. Specifically, it would keep the ETF's price in line with LINK’s market value, increase liquidity and attract institutional investors. Approval of a Chainlink Spot ETF could drive LINK's price higher, similar to trends seen with Bitcoin ETFs, and confirm Chainlink’s importance in the crypto ecosystem, encouraging its use across various industries. 

However, investors need to be cautious of potential short-term price swings and changes in regulations. Overall, this ETF would make crypto investing simpler for a broader audience, strengthening Chainlink’s position and supporting wider acceptance of blockchain technology in the financial world.

Intermediate

chainlink etf.png

Chainlink Spot ETF: A gateway to decentralized oracle investment

Bybit Trading Bot

Trading

Bybit Guide

Learn all about the advantages automated grid trading and how to use Bybit Futures Grid Bot to maximize your trading profits with high leverages.

4-price-point-grid.jpeg

bybit-futures-grid-bot-benefits.png

bybit-futures-grid-bot-how-to.png

bybit-trading-bot-page.png

bybit-futures-grid-ai-strategy-trading-bot-page.png

bybit-futures-grid-manual-trading-bot-page.png

bybit-derivatives-page.png

bybit-futures-grid-ai-strategy-derivatives-page.png

bybit-futures-grid-manual-derivatives-page.png

As crypto markets and choices grow increasingly sophisticated, strategies for trading automation are getting more popular among savvy traders. Trading strategies that lend themselves well to automation are experiencing a surge in popularity, such as 

 or grid trading. The latter is the focus of Bybit’s innovative Futures Grid Bot trading product, which lets you enjoy the numerous benefits of grid trading in a completely automated way.

Grid trading is a popular strategy in which a set of orders is placed at several points above and below a reference price for an asset. Grid trading is based on the overarching goal of buying low and selling high. The price points above the current asset price are designed as sell orders, while the price points below the current price are reserved to trigger buy orders. When the asset’s price reaches a preplanned point in the grid, the corresponding order is executed. 

Grid trading may be very simple or quite complex, depending on the trader’s experience and choices. Below is an illustration of a simple 4-price grid for an asset currently priced at $1,000.

With its simple, rule-based structure, grid trading lends itself extremely well to automation by using 

. These bots allow you to take a hands-off approach to trading by specifying order rules and triggers in advance. You can then sit back and let the software trade on your behalf.

Additionally, grid trading bots are useful for futures trading. Instead of trying to predict the future price of an asset and placing contracts manually, you devise several buy and sell price points around your reference price and rely on the bot to execute your strategy.

The role of futures grid trading bots is just that: To apply the benefits of automation to grid trading, based on futures.

Futures trading bots offer many benefits. Naturally, the automation of trading is the most obvious one: You avoid wasting time following the market and your target asset’s price developments. The bot also removes the element of emotion from your trading. When the order rules have been pre-specified and put on autopilot, you’re no longer at the risk of making emotional decisions as a response to price fluctuations or other unanticipated market developments.

Furthermore, futures trading grid bots require very little complex forecasting. You can specify a wide enough price range, without having to meticulously predict price movements. This also gives you more room for error in case prices don’t go entirely according to your expectations.

A third advantage is the ability to access the general benefits associated with futures trading, such as 

 and higher potential profits, as compared to spot trading.

Finally, futures grid bots are a great tool for making consistent profits in 

. These are characterized by significant periods of time without much upward or downward movement. Many other popular strategies — for example, 

 — become less useful when markets trade sideways, and this is where automated grid trading can really shine. 

Bybit offers you a versatile futures grid bot product with significant benefits and advantages:

 that offers similar benefits, but for the spot market. Compared to its spot market equivalent, the Futures Grid Bot lets you access the key benefits of futures trading —

 higher leverages and the potential to earn higher profits.

While creating a futures trading bot on Bybit is as simple as the four steps above, you can actually choose from two interfaces on Bybit to create your futures grid bot — the main trading bot page and the Derivatives trading page. Below, we’ll cover both methods.

1.	Create a Futures Trading Bot via Trading Bot Page

option from the top menu, and then Trading Bot to go to the 

to create your bot. You may create up to 50 bots in total, giving you an unmatched variety of choices if you’d like to follow many grid strategies at the same time.

There are two ways to create the Futures Grid Bot: 

. Choose the option that suits your preferences and experience with futures and grid trading.

option is a great choice for beginners and even experienced traders who would like to take full advantage of the bot’s automation capabilities. If you select 

, you’ll need to specify the following options:

 mode will automatically work out the other key trading parameters — Price Range, Number of Grids, Profit/Grid, and Leverage — based on the historical data performance of the selected trading pair.

Alternatively, you may choose to specify all the key parameters manually. If you select the 

 option, note that there are two types of grids: Arithmetic and Geometric. For Arithmetic, each grid has an equal price difference. For Geometric, each grid has an equal price ratio difference. 

The higher the number of grids, the smaller the price intervals. This means that in a volatile market your orders may be filled more frequently, but your profits would be lower, due to multiple trading fees.

You’ll need to choose the trading parameters as follows:

After you’ve specified all the required options, click the 

 button. You’ll then be asked to confirm your overall choices. Review your selected parameters, and click on 

 when ready. Your Futures Grid Bot will then be created.

2.	Create Futures Trading Bot via Derivatives Trading Page

You may also create your Futures Trading Bot via the main 

 in the order zone on the right side of the 

You can then choose one of the two trading modes – 

After selecting the parameters above, click on 

. A summary of your chosen parameters will be shown to you. Review your options, and then click on 

 is an invaluable product for futures traders who want to reap the benefits of automation and 24/7 accessibility. With an extremely modest $1 investment requirement, access to VIP benefits, generous leverage offers and beginner-friendly presets, the Bybit Futures Grid Bot is virtually unmatched in this product niche in the crypto market. If you’re serious about crypto futures and grid trading, our bot is the key tool for you to start with.

What Is Bybit Futures Grid Bot And How To Use It

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards