The crypto market traded sideways this week as investors continued to digest macroeconomic developments, including fresh concerns over global trade tensions.

U.S. Imposes 25% Tariffs on Imported Vehicles

On Wednesday, President Donald Trump announced a 25% tariff on imported automobiles and certain automobile parts, citing national security concerns. The tariffs, set to take effect on April 3, will apply to passenger vehicles, light trucks, and key components such as engines and transmissions. The administration asserts that this measure aims to bolster domestic manufacturing and protect the U.S. automotive industry. However, industry analysts warn that the tariffs could lead to increased vehicle prices and potential disruptions in the automotive supply chain which has had some follow on effects on market dynamics.

Trump Administration Explores Blockchain for USAID Overhaul

In a move to enhance transparency and efficiency in foreign aid distribution, the Trump administration is considering integrating blockchain technology into the operations of the United States Agency for International Development (USAID). The proposed overhaul aims to leverage blockchain's immutable ledger capabilities to track aid disbursements, reduce fraud, and ensure that assistance reaches intended recipients. This initiative aligns with the administration's broader efforts to modernize federal agencies through innovative technologies. ​

WLFI Announces USD1 Stablecoin Backed by U.S. Government Securities

World Liberty Financial (WLFI), a decentralized finance protocol backed by President Trump and his family, confirmed plans to launch a U.S. dollar-backed stablecoin named USD1. The stablecoin will be fully backed by short-term U.S. government securities, U.S. dollar deposits, and other cash equivalents. Initially, USD1 tokens will be minted on the Ethereum and Binance Smart Chain blockchains, with plans to expand to other protocols in the future. Each token is intended to maintain a value of $1 USD, fully backed by a reserve portfolio audited regularly by a third-party accounting firm.

Bitcoin ETFs saw a total net inflows of $289.6M so far this week since Monday. Blackrock’s IBIT and Fidelity’s FBTC continued to lead flows, while Bitwise (BITB) and WTree (BTCW) posted recurring outflows. Despite a flat Friday last week, this week's cumulative ETF flows remained positive, reflecting resilient institutional interest in BTC amid macro uncertainty.

Ethereum ETFs, on the other hand, struggled with net outflows every trading day this week, totaling approximately -$13.4M since Monday. Notable redemptions came from Blackrock’s ETHA last Friday and Grayscale’s ETHE. The ETF pressure appears to be contributing to Ethereum’s -3.8% price decline over the 7-day period, underperforming peers.

Dogecoin (DOGE) was the standout performer this week, surging 8.9%, followed by Solana (3.1%) and a modest 0.6% gain for Bitcoin. Meanwhile, Ethereum slipped -3.8%, and Hedera dipped slightly at -0.4%.

This suggests a speculative tilt in the market, with meme and community-driven assets like DOGE outperforming majors during a sideways trading week.

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