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XRP Jumps 17% Outperforms Rest of the Market as Rally Cools; Trader Thinks $120K Bitcoin Target Still in Play

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“We believe that the underlying strength in BTC represents a systematic shift in the market in anticipation of Trump’s return to office,” QCP Capital traders said in a Friday broadcast.

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Saylor Teases New Bitcoin Buy After Strategy’s $7.69 Billion Q1 Buying Spree

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Bitcoin (BTC) proponent Michael Saylor has hinted the company he co-founded, Strategy (MSTR), may be set to announce an additional BTC purchase this week shortly after revealing it expects a net loss in the first quarter of the year over unrealized losses on its massive BTC holdings.

The company has added 80,785 BTC to its balance sheet since the beginning of the year after raising a total of $7.69 billion during the first quarter, with over half of that coming from common stock sales. Most, if not all, of those funds were used to buy bitcoin.

On Sunday, Saylor posted a BTC holdings tracker to X, a move that typically precedes a purchase announcement, commenting there are “no tariffs on orange dots.” The comment implies the company’s BTC purchases were unaffected by the reciprocal tariffs Donald Trump introduced earlier this month and the ensuing U.S.-China trade war.

The company paused its buying during the week ending April 6. Its crypto stash is currently worth roughly $44.59 billion, and was acquired for $35.63 billion.

Strategy currently holds 528,185 BTC bought at an average price of $67,458 according to Bitcointreasuries data equivalent to 2.515% of the cryptocurrency’s total supply.

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Trump-Linked Crypto Project Buys $775,000 Worth of SEI as Altcoin Accumulation Continues

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World Liberty Financial, the crypto venture backed by U.S. President Donald Trump’s family, purchased $775,000 worth of SEI tokens as its altcoin accumulation strategy keeps going.

The move was funded with USDC transferred from the project’s main wallet to a trading wallet that has been used in prior altcoin buys, according to fresh data from Arkham Intelligence.

The SEI purchase adds to a growing portfolio that includes not only the top two cryptocurrencies, bitcoin (BTC) and ether (ETH), but also TRX, movement (MOVE), ondo (ONDO) and various other tokens.

World Liberty Financial recently denied selling ether or any of its other positions after reports suggested a wallet belonging to the project sold around $8 million worth of the second-largest cryptocurrency.

The price of SEI jumped after the move was reported and is up more than 27% over the past week as a result to now trade at $0.178 per token.

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U.S. Tariff Exemptions for Electronics Are ‘Temporary,’ Says Commerce Secretary

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The Trump administration’s exemption on tariffs for electronics may be short-lived.

Commerce Secretary Howard Lutnick said Sunday that the White House’s decision to exempt items like smartphones, computers, and other consumer electronics from steep tariffs earlier this month was only temporary.

A new set of duties focused on semiconductors is expected within “a month or two,” he said.

“All those products are going to come under semiconductors, and they’re going to have a special focus type of tariff to make sure that those products get reshored,” Lutnick said during an interview on ABC’s This Week.

The goal, he added, is to encourage chip and flat panel production in the U.S. and reduce dependence on Asian manufacturing. The clarification follows a bulletin from U.S. Customs and Border Protection released late Friday bringing a temporary exemption for a range of key electronics from the reciprocal tariffs President Donald Trump announced earlier this month.

However, Lutnick emphasized that those same items would soon be swept up under a more targeted policy aimed at “national security” industries like semiconductors and pharmaceuticals.

“We need to have chips, and we need to have flat panels — we need to have these things made in America,” Lutnick said.

The price of bitcoin dropped roughly 1% on headlines reporting on Lutnick’s words, before recovering back to the $84,000 mark. The wider crypto market, measured by the CoinDesk 20 (CD20) index, is down roughly 1.6% in the last 24-hour period.

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