According to Michael Burry Stock Tracker (@burrytracker), Donald Trump has suggested imposing an 80% tariff on China, calling it 'right.' This announcement has triggered immediate discussions among traders about potential global trade tensions and their spillover effects on risk assets, including Bitcoin and other cryptocurrencies. Historically, heightened US-China trade conflicts have increased volatility in both traditional and crypto markets as investors seek safe-haven assets and hedge against fiat currency risks (source: @burrytracker, May 9, 2025). Market participants are closely monitoring the situation for signs of capital flight into digital assets and increased trading volumes on major exchanges.

According to QCPgroup, while Asian markets have stabilized, any renewed strength in the Hong Kong Dollar (HKD) could trigger another drop in HIBOR rates, risking a disorderly unwind in financial markets. Additionally, speculation around easing US-China tensions has increased risk appetite across Asia. This shift in sentiment is significant for cryptocurrency traders, as heightened risk appetite often leads to greater capital flows into digital assets, especially in Asian trading sessions (Source: QCPgroup on Twitter, May 8, 2025).

According to @cas_abbe, Binance Wallet achieved a record-breaking $450 million in daily trading volume yesterday, marking its highest single-day volume ever. The wallet now controls 74.4% of the total wallet trading volume market share, highlighting its strong dominance in the crypto wallet sector. This surge reinforces Binance's position as the leading on-chain wallet provider, potentially increasing liquidity and market efficiency for major cryptocurrencies. Traders should monitor Binance Wallet's market share for signals on liquidity flows and potential volatility, as its dominance could influence price action across multiple digital assets. (Source: @cas_abbe on Twitter, May 7, 2025)

According to Crypto Rover, China has announced that it will disregard the U.S. if it persists in imposing additional tariffs. This development could lead to increased volatility in cryptocurrency markets as traders anticipate potential disruptions in global trade that might affect digital asset flows.