Stormrake - Insights #USD1Stormrake - Insights #USD1https://www.stormrake.com/blogs/tag/usd1Wed, 29 Apr 2026 13:13:59 +1000http://zoho.com/sites/<![CDATA[Bitcoin Holds the Line as Auto Tariffs Shake Markets]]>https://www.stormrake.com/blogs/post/bitcoin-holds-the-line-as-auto-tariffs-shake-marketsBitcoin holds support despite renewed tariff pressures, whilst World Liberty Financial launch their own stablecoin and GameStop eyes a $1.3B Bitcoin play]]>
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Bitcoin once again fails to break out but continues to find support at the bottom of its range, slipping just 0.65% from yesterday’s open. Altcoins have delivered mixed performances—Ethereum (-3%) and Solana (-4%) saw declines, while Sui (+7%) defied broader market weakness with a strong rally.

Trump’s Auto Tariffs Add to Market Uncertainty

With reciprocal tariffs set to take effect in less than a week, Trump has thrown another curveball—this time targeting the auto industry. A newly announced 25% tariff on all cars not manufactured in the U.S. is set to take effect, while vehicles built domestically will face “absolutely no tariff.” These auto tariffs are expected to generate over $100 billion in revenue.

Markets reacted swiftly—auto stocks tumbled in extended trading, with General Motors, Stellantis, and Ford Motor all losing ~5%. Broader market sentiment also turned negative, with the S&P 500 (-1.12%) marking its first red day in nearly a week. Bitcoin dipped below $87K after briefly reclaiming $88K.

World Liberty Financial Launches ‘USD1’ Stablecoin

World Liberty Financial has announced the launch of ‘USD1’, a new stablecoin set to operate on Ethereum and Binance Smart Chain. USD1 will be backed 1:1 by a mix of short-term U.S. treasuries, U.S. dollar deposits, and other cash equivalents.

GameStop Follows MicroStrategy’s Bitcoin Playbook

GameStop is reportedly planning to raise $1.3 billion to purchase Bitcoin, mirroring Michael Saylor’s MicroStrategy in its accumulation strategy. The funds will be raised through private offerings of convertible senior notes—a method that has been highly successful for MicroStrategy.

This raises an important question: Are we witnessing the start of a trend? If MicroStrategy’s approach continues to prove effective, we could see more companies raising funds through note and share offerings to add Bitcoin to their balance sheets.

Stormrake Spotlight: Ripple (XRP) ($2.33)

XRP has dropped 4.42% since yesterday, falling below the mid-point of its range and losing support at both the 21 EMA and 55 EMA. While this isn’t ideal, it doesn’t signal a bearish shift—XRP still holds above CPR levels, which should provide support.

As long as XRP sets a higher low above $2.22, the bullish structure remains intact.

BTC/USD Key Levels and Price Action:

Bitcoin has avoided a potential double-top breakdown after a retest of the top CPR level overnight. However, resistance held firm, reinforced by renewed tariff concerns. BTC has since retraced to the lower CPR level ($85.4K), which continues to act as support.

The 21 EMA and 55 EMA are converging, threatening a bearish crossover. While this could indicate slowing momentum, Bitcoin’s overall structure remains bullish, so there’s no immediate cause for concern.

BTC Total ETF Flows for 26 Mar: $ - 18.3 million

(ETF flow data is sourced from https://farside.co.uk/btc/ and reflects figures at the time of writing.)
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*All prices are denominated in USD unless stated otherwise*

Written by Alexandar Artis

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