Nonco Market Color 4/9

Price action
$BTC came back down, bears took advantage of the lack of follow through from bulls. No support sell off, pure selling from high 72000s to mid 68000s, so almost 6% down since the high. $ETH had it a bit worse being down 7% in even less time. Traders see this pullback as the last opportunity for bulls to reclaim and continue a trend higher in the short term.

ETF flow
*Top Bitcoin ETFs by volume today: $IBIT, $GBTC, $FBTC. 834m, 412m, and 319m respectively.

News
*US Treasury official calls on Congress for ‘necessary tools’ to fight crypto-linked illicit finance.
*Crypto market endures $175m in liquidations since yesterday.
*Ahead of Wednesday’s crucial inflation report, Wall Street traders adjusted their positions, causing stocks to decline while bonds recovered from recent losses.
*Treasury yields retreated, particularly the 10-year yields, after reaching their highest points this year. Meanwhile, equities continued their downward trend in April, with the S&P 500 falling below the 5,200 mark.
*Financial shares, including JPMorgan Chase & Co. and Wells Fargo & Co., registered declines as they prepared to report earnings later in the week. Additionally, Nvidia Corp. dragged down the megacap sector with a nearly 4% drop.