The latest news on the Trade War front caused another volatile wave in the cryptocurrency market, as bitcoin and most altcoins surged impressively before they came crashing back down once again.

This time, the volatility could also be attributed to a recent report that was quickly refuted.

*WHITE HOUSE SAYS “UNAWARE” OF 90-DAY PAUSE RUMOR ATTRIBUTED TO WHITE HOUSE ADVISOR HASSETT

WHITE HOUSE ADVISORS ARE SAYING 1 THING AND THE WHITE HOUSE IS SAYING SOMETHING ELSE

WE NEED ADULTS IN THE WHITE HOUSE https://t.co/OE4Ln9pWgv

— GURGAVIN (@gurgavin) April 7, 2025

The report in question indicated that the White House considered implementing a 90-day delay to the tariffs, which intensified last week. Recall that US President Trump slapped every country with a 10% tax, while China, the EU, and a few more got much larger percentages.

Instead, Washington became even more aggressive in its stance against the world’s second-largest economy. According to CNBC, Trump warned China that he would impose another 50% tax on it if Beijing didn’t retract the 34% tariff it imposed on the US in retaliation.

Thus, the total tariffs against the Asian giant will surge to 104%, the White House confirmed.

Bitcoin reacted with immediate price volatility to the fake report and the actual one. After the massive drop to $75,000 following the market-wide crash, the cryptocurrency skyrocketed to just over $81,000 (on Binance and Bitstamp).

However, that was short-lived, and the subsequent rebutal, as well as Trump’s latest warning, led to just as violent a retracement that drove BTC below $79,000.

Wall Street reacted in a similar fashion, with immediate price declines after the opening bell. The past several trading days have been particularly painful. Just for reference, the S&P 500 is down by over 11% since Wednesday.

[PRESS RELEASE – San Leandro, CA, April 7th, 2025]

GOAT Network, a financial ecosystem delivering real BTC yield, has partnered with Rarible, a leading NFT company, to launch GOATible—an on-chain NFT marketplace branded for GOAT and powered by RaribleX. GOATible goes live on April 7, alongside a debut on Rarible.com.

Key highlights:

• Launch Date: April 7, 2025
• GOATible: A multichain NFT marketplace for minting, trading, and exploring NFTs, built on RaribleX’s tech.
• Big Mint: Kicks off April 7 with a major drop on Rarible, featuring exclusive GOAT-themed art.
• Artist Incentives: GOAT Network will support global artists to create original works embodying “Unlock Your Greatness,” with frequent drops and trading opportunities for investors.
• Goal: Drive adoption of GOAT Network through NFT engagement.

“We’re thrilled to bring GOAT Network to Rarible.com and power the launch of GOATible, GOAT’s native marketplace,” said Leen Al-Taher, VP of Consumer Products for Rarible. “As the first chain to offer sustainable BTC yield, GOAT is driving adoption through innovative on-chain utility. This partnership aligns with Rarible’s mission to support chains building real-world utility and making Web3 more accessible to the next wave of users.”

The Rarible partnership strengthens GOAT Network’s all-in strategy of leveraging NFTs to incentivize on-chain activity. As part of its recent alpha mainnet launch, GOAT announced its One Piece Project (OnePiece.GOAT.network), which lets users mint a soulbound NFT, bridge into GOAT Network, and begin earning points toward future rewards.

Those points are earned by transacting on numerous different GOAT Network ecosystem BTCFi, GambleFi, Gaming, and other dApps. One Piece Season 1 gives users the chance to earn rewards with the following dApps: Uniswap v3 deployment Oku (Oku.trade); innovative DEX/Perps DEX/launchpad GOATSwap (GOATSwap.fi); and liquid staking protocol Artemis Finance (ArtemisFinance.io).

“From the time we conceived the idea of One Piece Project, we wanted the best and most innovative NFT marketplace as a partner,” said GOAT Network co-founder and CEO Kevin Liu. “Rarible’s track record of great design, smooth UI/UX, and savvy team speaks for itself. We’re thrilled to give up-and-coming artists and the GOAT community a chance to create, buy, sell, trade, and speculate on exciting NFT collections in the weeks, months, and years to come.”

About Rarible

Rarible empowers creators and communities with multichain marketplaces, developer tools, and white-label solutions. Supporting 15+ blockchains, Rarible Marketplace aggregates top NFT collections and facilitated 200+ artist drops and 900K+ transactions in 2024. Mint and trade NFTs on Rarible.com, and launch your own branded marketplace with RaribleX.

About GOAT Network

GOAT Network is a blockchain protocol offering sustainable BTC yield through decentralized sequencers and multi-coin Proof of Stake. The protocol is designed to activate BTC and DOGE capital through a revenue-tokenization model, supporting applications across BTCFi and MemeFi sectors.

Website: GOAT.network

Economic Model: GOAT.network/econpaper

X: X.com/GOATRollup

Telegram: t.me/GOATRollup

YouTube: https://www.youtube.com/@GOATRollup

Discord: https://discord.com/invite/goatnetwork

Users can Join the GOATible launch on April 7 and unlock their greatness with GOAT Network.

TL;DR

• SOL tanked by 15% daily amid market-wide panic from the global trade war, with analysts alerting about a potential drop to as low as $60.
• Earlier this month, Solana witnessed a major token unlock and whale sell-offs, which could have added to the selling pressure.

How Worse Can It Get?

Solana (SOL) is among the worst-affected cryptocurrencies following the latest crash of the digital asset market. Its price briefly collapsed below $100 for the first time since February 2024 before slightly rebounding to the current $101 (per CoinGecko’s data).

The asset’s major pullback comes less than three months after its all-time high of almost $290, registered shortly before Donald Trump’s inauguration as the 47th President of the United States. The surge back then was partially fueled by the frenzy surrounding some Trump-themed meme coins, which are based on Solana’s blockchain.

Ironically, the POTUS, or more specifically, the trade war he declared to the rest of the world, appears to be the main factor behind the recent bloodbath in the crypto market and SOL’s crash. 

Several renowned analysts noted the asset’s plunge, predicting further pain for the bulls in the short term. Ali Martinez believes SOL’s dive below $114 could be followed by a slump to as low as $60. This would represent a roughly 40% decline from the current valuation.

Another person, using the X moniker Crypto_Jobs, assumed that Solana could find a “key bottom level” at approximately $68-$70. 

SOL’s recent price decline coincides with a gradual decrease in the total value locked (TVL) in the ecosystem and its DEX volume. Those developments generally signal low user engagement, diminishing traders’ confidence, and lower liquidity.

It is important to note that Solana’s TVL is measured in USD, meaning that if the price of the underlying token drops, the metric automatically goes down even if the same amount of SOL stays locked. DefiLlama’s data shows that the indicator hit an ATH of almost $12 billion at the end of January, while currently, it is less than $6 billion.

The Retreat of the Whales

Earlier this month, a total of $200 million worth of Solana tokens were unlocked, which, according to Arkham Intelligence, marked “the largest single-day unlock of staked SOL until 2028.” Prior to the event, some big investors unstaked and offloaded millions of assets.

Those developments are typically considered bearish in the short term since they increase Solana’s circulating supply, which currently stands at over 515 million tokens. 

The whales’ actions could also spark panic in the community, prompting smaller investors to follow suit and further amplify the selling pressure.