In this article, we break down what to expect from Liberation Day and how it could shape the outlook for equities, the US economy and crypto markets.

 April 2, 2025 as "Liberation Day" — a moment he claims will restore America's trade fairness through sweeping reciprocal tariffs. With few concrete details confirmed, global markets remain on edge. Investors are bracing for the economic fallout of a potential trade war, and crypto traders are watching closely to assess the impact on digital assets. In this article, we break down what to expect from “Liberation Day” and how it could shape the outlook for equities, the US economy and crypto markets.

Since returning to the White House in January 2025, President Trump has prioritized reshaping US trade policy with a renewed focus on tariffs. His administration has already announced 

 on all steel and aluminum imports. Many of these actions take effect this week, coinciding with his so-called Liberation Day.

Trump argues that tariffs are a necessary tool to reduce the US trade deficit and force foreign nations to stop what he calls "economic warfare" against the American worker. Treasury secretary Scott Bessent 

 countries with persistent trade surpluses — dubbed the 

 — as primary targets for reciprocal tariffs. These include China, the EU, Canada and Mexico.

However, critics point to the growing risk of a global trade war, with multiple partners already threatening or initiating retaliatory measures. Goldman Sachs recently 

, citing declining business confidence and mounting economic uncertainty. The tariffs, designed to protect US industries, could instead raise prices and weigh on consumer spending.

What to expect from Trump's ‘Liberation Day’ announcement

Trump is expected to reveal his tariff plans in a Rose Garden press conference on April 2. White House press secretary Karoline Leavitt 

 that the president would impose tariffs on "any country that has treated the American people unfairly" — though no nation-specific exemptions have been confirmed. Trump has promised these reciprocal tariffs will be 

While final details remain under wraps, proposals have included both country-wide and sector-specific tariffs. These could range from uniform, percentage-based levies to targeted charges on industries like pharmaceuticals, semiconductors and autos. Trump's advisers, including Trump trade adviser Peter Navarro and commerce secretary Howard Lutnick, claim the new tariffs could generate over $600 billion annually — though many economists dispute this figure.

Delayed tariffs on Canadian and Mexican imports, 

 in early March, are also set to take effect this week. These include taxes on agricultural products, energy goods and automotive components. Trump has also 

 a 25% tariff on imports from countries that purchase oil or gas from Venezuela.

Given the administration's conflicting signals in recent weeks, there's a wide range of potential outcomes. Whether “Liberation Day” ushers in immediate enforcement, additional delays or future negotiation rounds remains to be seen. For now, uncertainty reigns.

Potential impact on the US economy and global markets

Economists warn that broad-based tariffs could lead to slower US growth, higher consumer prices and widening inequality. Goldman Sachs now 

 Trump's trade policies to reduce annual GDP growth to 1.5% from 2%, while the odds of a recession are being raised from 20% to 35%.

Global equity markets have already shown signs of stress. European and Asian indices dipped ahead of “Liberation Day,” while the S&P 500 and Nasdaq-100 

 in March (respectively). Auto manufacturers, tech firms and retailers could be especially vulnerable if tariffs disrupt global supply chains.

There's also the question of the Federal Reserve's response. With inflation risks rising, policymakers may hold off on anticipated rate cuts, further complicating the economic outlook heading into Q2.

How will ‘Liberation Day’ affect the crypto industry?

Crypto markets have mirrored broader risk sentiment over the past quarter, with investors reducing exposure amid macroeconomic turbulence. As of April 1, the 

 is down 16.9% year-to-date. Bitcoin has fallen 10.48%, Ethereum 44.2% and Solana 33% — despite reaching new highs in January on hopes for pro-crypto policies from the Trump administration.

Investor optimism has since cooled as recession risks, inflation concerns and policy unpredictability drive a risk-off mood. Bitcoin dipped to $81,656 over the weekend, marking its weakest Q1 since 2018. Traders remain cautious ahead of “Liberation Day,” awaiting clarity before opening new positions.

“Liberation Day” could further weigh on crypto prices if market volatility increases and capital rotates out of risk assets. However, some analysts believe any resulting sell-off may offer an opportunity to 

 — especially if Trump follows through on crypto-friendly regulation later this year. For now, though, many eyes are on April 2.

With details still unknown, the crypto market remains in a "wait-and-see" phase. “Liberation Day” could mark a turning point — for better or worse — depending upon the scope and execution of Trump's tariff agenda.

Intermediate

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Trump's 'Liberation Day': What it means for crypto markets

Grayscale has filed to convert its private Digital Large Cap Fund, which includes Bitcoin, Ethereum, XRP, Solana, and Cardano, into a publicly available exchange-traded fund (ETF). 

Daily top performer — Compound Finance (COMP)

The S&P 500 rose 0.38% as investors awaited new tariffs amid weak factory data and declining job openings. Gold eased to $3,113 after hitting a record high, driven by profit-taking ahead of Trump's tariff announcement, but remains strong due to safe-haven demand and economic uncertainties. The Coindesk Indices, which tracks the broader crypto market, are up by 1.30%, with Bitcoin and Ether are up 3.10% and 5.19%, respectively, in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is COMP, up 14.3%, following the proposal for the creation of a foundation to ensure consistent leadership and coordination by Compound.

Compound Finance (COMP), launched in September 2018, is a DeFi lending platform that allows users to earn interest on crypto assets. Built on smart contracts, it adjusts interest rates based on supply and demand, connecting lenders and borrowers without intermediaries. In June 2020, Compound decentralized with the launch of COMP and full governance transfer. However, it lacks a core operational pillar. With Compound v4 development and increased community engagement, the need for consistent leadership has grown. To address this, Compound Labs 

 creating a Compound Foundation for structure, clarity, and coordination, similar to other ecosystems like Uniswap.

Check out the latest prices, charts, and data of 

 to convert its private Digital Large Cap Fund, which includes Bitcoin, Ethereum, XRP, Solana, and Cardano, into a publicly available exchange-traded fund (ETF). The fund, which currently holds 79.4% Bitcoin and 10.69% Ethereum, has grown by 478.83% since its launch in 2018. The conversion would allow everyday investors to access the crypto market, covering about 75% of the digital asset market cap. If successful, it would eliminate the current barrier that restricts access to accredited investors. The filing is still in progress, with management fees and other details pending.

Yesterday, BTC spot ETF had a total outflow of $157.8 million, with GBTC seeing a loss of $10.1 million and non-GBTC products losing $147.7 million.

 that its airdrop might be approaching, with a claim page now live. Registration for the airdrop runs from April 2 to April 17, and claims are expected to open on April 22. However, nothing has been officially confirmed yet. Stay tuned for updates.

Beginner

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Grayscale files to convert digital large cap fund into publicly accessible crypto ETF

In this guide, we'll dive into how to trade crypto with the Bybit app, a convenient and feature-rich platform. Explore spot and derivatives trading for beginners on the Bybit app.

Welcome to our step-by-step guide on trading using the Bybit app. In this article, we’ll walk you through everything you need to know — from downloading the app and setting up your account to executing spot, margin and derivatives trades. Bybit is a leading cryptocurrency exchange that offers a fully localized and user-friendly mobile experience, making it easy for both beginning and seasoned traders to manage their investments seamlessly.

First, download the Bybit app from the App Store (iOS) or Google Play (Android). Once you’ve installed the app, open it and select your preferred language.

 and register using your email address or phone number. Complete the verification process by submitting your mainland Chinese ID or passport as required. This step is crucial to ensure your account is secure, and to unlock higher withdrawal limits.

After verifying your identity, head over to the 

 tab to fund your account. You can directly deposit cryptocurrencies like BTC or USDT. Our 

 (UTA) streamlines fund management, allowing you to trade seamlessly across different markets without the hassle of multiple wallets.

Spot trading with Bybit lets you buy or sell cryptocurrencies at current market prices with immediate settlement.

To begin, log in to the app and tap on the 

Choose your desired trading pair, such as BTC/USDC or ETH/USDT, from the list.

 lets you specify a price at which you want to buy or sell. 

Enter the amount you wish to trade, review the details and confirm your order.

Once your order is executed, monitor its status in the 

Bybit has an intuitive interface that displays real-time updates, so you can track your trades anytime with ease. 

How to execute a spot margin trade with the Bybit app

For traders looking to leverage their positions, Bybit offers a spot margin trading feature that allows you to borrow funds to increase your buying power. Start by logging into your account and tapping on 

Choose a trading pair, such as ETH/USDC, which supports margin trading with leverage options of up to 10x. 

Once your trading pair is selected, you’ll need to select the margin amount (e.g., 

 at which you want your limit order to execute.

You’ll also see several other important metrics, such as 

Enter the amount you wish to trade, and then carefully review all of the details.

After confirming your order, your margin trade will be executed. You can track your position in the 

 tab, where you can also set up stop-loss or take-profit orders to manage risk. 

How to trade derivatives with the Bybit app

Bybit also offers derivatives trading, which allows you to speculate on the price movements of cryptocurrencies without actually owning the underlying assets. Derivatives include Futures and Perpetual contracts, which can be traded with leverage, sometimes up to 100x.

To start, log in to your account and tap on 

Set your desired leverage (e.g., 50x) and choose between 

 margin modes, based on your risk preference.

 (if using limit or conditional orders) and 

Once you’re satisfied with your parameters, confirm your order and your position will appear in the 

Trading with the Bybit app offers numerous advantages that make managing digital assets both efficient and secure. The platform’s user-friendly design, high-speed execution and comprehensive risk management tools cater to traders of all levels. Our Unified Trading Account (UTA) streamlines fund management by consolidating assets for spot, margin and derivatives trading under one account, which reduces operational complexity and enhances overall efficiency. This streamlined approach lets you focus on strategy rather than logistics.

Additionally, Bybit’s state-of-the-art security measures — such as multi-factor authentication, regular independent audits and cold storage of assets — ensure that your transactions are conducted safely and transparently. With an interface designed to minimize distractions and provide real-time data, you can quickly monitor market movements and adjust positions. 

Our commitment to a secure and reliable trading experience is evident in our continuous improvements and proactive customer support. These features empower you to make informed trading decisions, fostering confidence in your ability to navigate the dynamic crypto market.

Bybit delivers a secure, robust and intuitive mobile platform that simplifies cryptocurrency trading for everyone. In this guide, we’ve explored how to set up an account, fund it and execute various types of trades — spot, margin and derivatives — using a fully localized and user-friendly interface. Our Unified Trading Account and comprehensive risk management tools ensure a smooth trading experience so you can focus on growing your investments.

Looking ahead, Bybit remains dedicated to innovation and excellence in the crypto industry. We continually refine our platform, based on user feedback and market trends, ensuring that you have access to the latest tools and features. Our commitment to transparency and security underpins everything we do as we build trust and empower traders. 

How to trade spot crypto on Bybit app.png

How to trade with the Bybit app

Approval of an Aptos Spot ETF could drive price growth and mainstream adoption by offering regulated, accessible exposure to APT for investors.

In early March 2025, Bitwise Asset Management, Inc. filed an S-1 registration statement with the SEC to launch a Aptos Spot 

 (ETF), sparking fresh excitement in the crypto market. Known for its cutting-edge blockchain architecture and lightning-fast transactions, Aptos is gaining traction, and now joins the growing list of projects seeking mainstream investment products. 

This article describes how an Aptos Spot ETF works, its potential impact on the market, regulatory hurdles and the significance of potential approval for the future of altcoin investments. Could this be the move that propels Aptos to blockchain supremacy?

An Aptos Spot ETF is an exchange-traded fund that physically holds the 

 (APT) cryptocurrency and directly tracks its real-time price, providing investors exposure to its market performance without needing to own the asset itself.

An Aptos Spot ETF would operate by acquiring Aptos tokens through authorized participants (APs), typically large financial institutions. These APs play a crucial role in the creation and redemption of ETF shares. They purchase Aptos tokens, either from the open market or directly from exchanges, and transfer them to the ETF in exchange for newly issued shares.

Once the tokens are bought, the ETF stores them securely, often through specialized custodial services that ensure transparency and regulatory compliance. The ETF tracks the value of Aptos (APT) by referencing a specific pricing benchmark, such as the CF Aptos-Dollar Settlement Price, aggregating data from major trading platforms in order to accurately reflect the APT token’s market value. 

Creation and redemption of Aptos Spot ETF shares

Creation and redemption of ETF shares takes place in large blocks, known as Baskets, which typically consist of 10,000 shares. APs are key in maintaining liquidity and ensuring that the ETF’s price stays aligned with the value of the underlying asset. 

In the creation process, an AP delivers cash for an amount equivalent to the value of the ETF shares it wants. The fund’s sponsor then uses this cash to acquire Aptos tokens from pre-approved trading counterparties, who operate independently of the APs. Once the tokens are acquired, the ETF issues the corresponding number of shares to the AP, which can then sell them on the open market.

On the flip side, during the redemption process, an AP wishing to redeem ETF shares returns the specified number of shares to the fund. In return, the AP receives cash for an amount equivalent to the value of the underlying Aptos tokens. To fund this redemption, the sponsor arranges for the sale of the required Aptos tokens to approved counterparties, and the cash proceeds are used to fulfill the redemption request.

Once created, ETF shares are listed and traded on public stock exchanges, allowing investors to buy and sell them as they would traditional stocks during market hours. This provides liquidity and accessibility to a broader range of investors.

The ETF provider charges an annual management fee for overseeing the fund's operations. These fees compensate the provider for managing the fund and ensuring its alignment with the underlying asset's performance. This mechanism ensures that the Aptos Spot ETF stays closely aligned with the market value of Aptos tokens, while offering investors the convenience of trading ETF shares on traditional financial markets.

On Mar 5, 2025, Bitwise Asset Management submitted an 

 to the US Securities and Exchange Commission (SEC), seeking approval to launch an Aptos Spot ETF. To address regulatory concerns, Bitwise has decided to exclude a staking provision from the Aptos ETF. (

 allows users to earn rewards by holding their cryptocurrency instead of selling it, but this can complicate ETF structures and raise issues with the SEC.) 

Bitwise still needs to submit an SEC Form 19b-4 for its Aptos Spot ETF application. Once the SEC acknowledges receipt of the 19b-4, the review process will officially begin, which could take several months. With the SEC grappling with an increasing number of Spot ETF applications, Bitwise's filing is expected to draw significant attention. The outcome could set an important precedent for the future of altcoin ETFs in the US.

Current impact of Aptos Spot ETF applications on the crypto market

The announcement of Bitwise’s filing for an Aptos Spot ETF had an immediate and positive effect on the crypto market. In response to the news, 

, jumping more than 18% to around $6.48. This spike reflected investor optimism surrounding the potential approval of the ETF and the impetus it would provide for growing acceptance of Aptos in traditional financial markets.

The market’s reaction highlights a rising interest in alternative cryptocurrencies, as well as the anticipation of more diversified investment options. While the approval of the Aptos Spot ETF is still uncertain, the filing has already had a significant impact on market sentiment, demonstrating the powerful influence of regulatory developments on cryptocurrency valuations.

What will it mean if an Aptos Spot ETF application is approved?

​The approval of an Aptos Spot ETF by the US SEC would mark a significant milestone in the cryptocurrency and traditional finance sectors. 

Looking to capture the market and trade APT tokens? Bybit offers the 

The potential approval of an Aptos Spot ETF represents a transformative moment for both the crypto and traditional finance sectors. It promises increased accessibility and liquidity for Aptos, while also offering institutional and retail investors a regulated means to gain exposure to Aptos via its APT token. Enhanced price discovery and regulatory validation could stabilize the token’s value and boost market confidence. Finally, success in this application may pave the way for additional altcoin ETFs, broadening investment opportunities and further integrating cryptocurrencies into mainstream financial markets.

aptos etf.png

Aptos Spot ETF: Fast track to blockchain supremacy

Bybit Learn

DeFi

LeverFi is a DeFi platform that offers leveraged trading. It lends funds to investors, who can then use those funds to trade crypto assets and earn money.

The explosion of interest in decentralized finance (

) has led to a lot of exciting new programs and platforms. However, there are some areas where the DeFi landscape still lags behind traditional finance. LeverFi hopes to solve this problem by offering a unique new 

 system to users. Will they be able to provide 

 than traditional banks? To see how useful LeverFi actually is, let’s take a look at its mechanics and features.

 is a DeFi platform that offers leveraged trading. It lends funds to investors, who can then use those funds to trade crypto and earn money. Compared to traditional leverage brokers, LeverFi aims to provide more transparency and more protection from 

 is the practice of borrowing money from a lender for the purpose of investments. Also called 

, this strategy lets investors increase their position size and potentially earn bigger profits. However, it can also lead to larger losses if an investment fails.

LeverFi has its origins in a 2019 project developed by Lawrence Lim and Loh Zheng Rong. These Singapore-based developers were both originally in the private finance world and had plenty of experience with investing and lending. Eventually, they realized that these concepts could also work well in the crypto world.

, a company that offered unique leveraged trading options for crypto enthusiasts. As they worked on RAMP DEFI, LeverFi's founders realized that the DeFi landscape was struggling with problems like liquidity and cross-chain compatibility. Therefore, they decided to pivot their project to address these issues. They renamed it LeverFi, and the decision was 

Since its creation, LeverFi has managed to attract a 

, including ParaFi Capital, Torchlight Ventures, Signum Capital and MW Partners.

The basic problem LeverFi is tackling is the difficulty of getting funds for investments. LeverFi tries to provide investors with capital by setting up a DeFi space that rewards both lenders and borrowers. Lenders temporarily deposit tokens and earn interest, while traders can borrow funds to fulfill larger orders for crypto.

LeverFi wants to be the best DeFi leveraged trading platform available. When its team were in the design stage of creating their program, they tried to identify and address the main problems in other DeFi leveraged trading spaces. They then chose to emphasize utility and created a platform that offers traders a full suite of services. 

Novice traders can use LeverFi's simple, collateral-based services, while expert traders can access pair trading, 

 tools. LeverFi hopes to stand out by offering a broad range of services delivered in an easy-to-use interface.

 that manage a variety of different tasks. Users can access the system through a dedicated 

. LeverFi’s platform uses these components to keep its ecosystem functioning smoothly.

The Collateral Manager system keeps track of all the assets that traders deposit to back their loans. It can bundle multiple types of assets into a single collateral basket that can back fairly large loans from traders. To ensure that each trader is providing enough money for their single collateral basket, the trading Collateral Manager uses 

The Trading Manager routes requests through multiple decentralized exchanges (

) to find the best possible rates for traders. This 

 also runs calculations for profit and loss, and keeps track of the entire LeverFi trade ledger.

This collection of smart contracts manages assets that will be used for leveraged trades. It keeps track of who deposits how much money, and it manages storage for assets while they're left in 

. The Lending Manager system also features a utilization rate curve to calculate borrowing fees and help users earn yield on collateral.

The Risk Manager system helps address potential problems before they destabilize the platform. Blockchain technology calculates the account health of individual traders and manages loan-to-value collateral risks. When an account accumulates too much debt without repaying it, the Risk Manager sells their collateral to add liquidity back to the LeverFi platform.

Compared to other DeFi platforms for leveraged trading, the LeverFi platform contains a broad range of services for users to try.

 with ease. The streamlined leveraged system lets you deposit collateral and instantly use it to borrow money for trades. One of the perks of LeverFi is that it bundles all your trading collateral into a single collateral basket. Unlike other lending platforms, you don't need to own a lot of a single type of token if you want to make leveraged trades. Furthermore, LeverFi offers you the ability to earn yield from collateral. All the tokens in your single collateral basket 

LeverFi is also one of the few DeFi platforms to let you earn money with the extra crypto you own. To help other people make leveraged trades, you can place your tokens in LeverFi's 

 to earn a percentage of the fees every time a trader uses your crypto for leverage.

 between different cryptos, which makes it easy to do things like hedge your bets and take advantage of arbitrage opportunities while choosing your leveraged trade positions. For example, a trader can borrow from the BTC pool and buy ETH in order to short BTC while profiting off of Ethereum increases. This allows for a lot of different customized investing strategies.

The LEVER Governance Staking Program gives votes to token holders, who can vote to add new cryptos for people to trade or use as collateral, as well as add or remove lending pools. The community governance system also helps determine the launch of new incentive programs and the types of new networks deployed on LeverFi. In addition to being able to help set new rules for LeverFi, community governance members also get discounts on their trading fees.

Since the company originally began in 2019, they've achieved quite a lot as they’ve built their platform from the ground up, integrated a broad range of features and successfully released the beta version for users to explore.

In late 2023, the Lever road map will focus on the transition to the

. They hope this will allow for more community input and keep the LEVER token’s price stable. The next step on their road map is to integrate user feedback and open up the platform to more users. There are plans to upgrade protocols, adjust the interface layout and provide more protections to prevent users from overextending their positions.

 for the LeverFi ecosystem. Token holders stake LEVER in exchange for votes in the LeverFi community governance system. LEVER is an Ethereum-based token with a total supply of 35 billion and a circulating supply of over 28 billion. The current LEVER 

 is over $38 million (as of Oct 10, 2023).

The LEVER governance token distribution system follows the distribution system for the RAMP tokens that they replaced. Thus, 20% of tokens were earmarked for protocol reserves, 16% went to the development team, 19% were sold and 45% held for farming reserves.

As of Oct 10, 2023, the LEVER token is currently selling for around $0.00134583 per token. This is quite a drop from its all-time high of $0.00521513, which it reached on Jul 16, 2022. However, it has recovered a little from its all-time low of $0.00092297 on Nov 14, 2022.

 that overall market sentiments for LEVER are bearish, as users expect prices to decline in the following weeks. In the next few months, token prices could potentially drop below $0.001. However, once the LeverFi token recovers from being overvalued, it has the potential to increase in price once more.

 that LEVER token prices will stabilize and possibly reach $0.004 again by 2024. It further believes that LEVER will continue to climb and exceed its all-time high by 2025, doubling in value by 2030.

Keep in mind that positive LEVER price predictions rely heavily on the viability of the LeverFi community. As long as LeverFi remains a popular trading platform, its prices are likely to rise and token holders to profit. However, if the project crashes and burns, LEVER would potentially lose all of its value.

If you’re interested in trading LEVER tokens, look no further: Bybit now offers the LEVER/USDT Spot trading pair! To get started with trading, you’ll need to first establish a Bybit account and fund it with cryptocurrency. Then, proceed to navigate to the 

To celebrate this listing, Bybit is holding 

 where you can share in a 45 million LEVER prize pool! 

 event is exclusively for new users who don’t have an account with Bybit. Simply be among the first 1,000 users to complete the following steps between now and Oct 20, 2023, 10AM UTC, to receive 10,000 LEVER:

        b. Deposit 100 USDT and buy 100 USDT worth of LEVER via your first trade using your Bybit account.

 event is for all users who trade LEVER and accumulate a Spot trading volume of at least 500 USDT worth of LEVER between now and Oct 20, 2023, 10AM UTC. If you wish to increase your rewards, simply trade more! Please note that rewards for individual accounts will be capped at 3.5 million LEVER. 

LEVER definitely shows a lot of possibilities for savvy investors. The token is backed by a sound project that's already managed to deliver the flashy features it’s promised. The likelihood of it losing all of its value overnight is very small. Investors looking to diversify their portfolio by adding a small, long-term investment might find LEVER a good choice. 

However, keep in mind that LEVER's days of being a wildly hyped and trendy token are probably already gone. The token reached its all-time high over a year ago, and its price has sharply dropped since then. There may still be occasional fluctuations when LeverFi announces new features, but we recommend that you 

LeverFi provides a lot of helpful services for traders. As long as you don't use their leveraged trading in a risky manner, it can be an excellent way to make impressive profits. Even those who aren't interested in leveraged trade positions can still potentially make money off of LeverFi. Its unique position in the DeFi space has attracted many investors who hope to profit by trading LEVER tokens.

LeverFi (LEVER): Navigating the Future of Leverage in DeFi

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Grab Up to 5,000 USDT in Rewards