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Crypto News

Bitcoin Drops to $84,000 as Fed Chair Powell Raises Stagflation Fear

Bitcoin fell to $84,106, with a 24-hour loss of 0.83% as Federal Reserve Chairman Jerome Powell warned on the effects of President Trump's tariff regime.

"The level of the tariff increases announced so far is significantly larger than anticipated," said Powell in a speech. "The same is likely to be true of the economic effects, which will include higher inflation and slower growth."

In other words, stagflation — a throwback to a sizable portion of the 1970s when the U.S. experienced weak economic activity alongside double-digit inflation.

Eric Trump and Asher Genoot to Make First On-Stage Appearance for American Bitcoin at Consensus 2025

Eric Trump, U.S. President Donald Trump's second son, is set to appear at this year’s Consensus conference to discuss his vision to reshape bitcoin mining in the United States.

Trump will talk about American Bitcoin, a new venture formed with Hut 8 where he serves as Chief Strategy Officer.

Crypto Market Lost $633 Billion in Q1 2025, CoinGecko Report Shows

According to CoinGecko’s quarterly report, the overall crypto market cap fell 18.6% in Q1 2025. Trading volume on centralized exchanges also fell 16% compared to the previous quarter.

This report identified a few positive trends, but most of them contained at least one significant downside. Despite the market euphoria in January, recession fears are taking a very serious toll.

Republican States Pause Lawsuit Against SEC Over Crypto Authority

A federal judge agreed to pause an ongoing lawsuit between 18 state attorneys general and a decentralized finance lobbyist group against the U.S. Securities and Exchange Commission (SEC) on Wednesday, after the parties noted the SEC's new leadership.

The state AGs, all Republicans, filed the lawsuit alongside the DeFi Education Fund last November after Donald Trump's win in the 2024 presidential election. They allege that the federal securities regulator had exceeded its authority in filing lawsuits against crypto exchanges. In Wednesday's filing, the SEC suggested that Paul Atkins' confirmation as the new agency chair could end the litigation.

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Wednesday was -$169.87 million. The total net asset value of Bitcoin spot ETFs is $93.65 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.6%.

The Bitcoin spot ETF with the highest net outflow on Apr. 16 was iShares Bitcoin Trust , with a net inflow of $30.58 million. Following that was Bitwise Bitcoin ETF , with a net inflow of 12.81 million, according to SoSoValue.