Share this article
Bitcoin CME Futures Gap Lower After Trump Says 'There Won't Be a Deal With China'
Trump, when asked about sliding markets, said sometimes you have to "take medicine."
Apr 7, 2025, 5:03 a.m.
What to know:
- CME's bitcoin futures gapped lower after President Trump ruled out a trade deal with China, signaling bearish sentiment.
- Open interest in CME futures has decreased significantly, indicating a potential withdrawal from digital assets.
CME's bitcoin futures, considered a proxy for institutional activity, gapped lower Monday in a sign of bearish sentiment after President Donald Trump ruled out a trade deal with China.
The futures contract due to expire on the last Friday of April began trading at $79,590, down 5.6% from Friday's close of $84,250 and quickly descended to $76,800, CoinDesk data show.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The losses came as Dow futures fell 900 points, Chinese stocks crashed, and the Japanese equity market slipped into lower circuit breakers as JPMorgan, S&P Global, and Goldman Sachs increased the probability of the U.S. falling into recession this year.
On Sunday, Trump told reporters on Air Force One that he wanted to solve the trade deficit with China "and unless we solve that problem, I'm not going to make a deal."
Trump added that world leaders are dying to make a deal. Last week, the President announced sweeping tariffs on 180 nations, boosting the total levy on China to 54%. Since then, financial markets have wilted, which the President thinks is the necessary medicine to solve the problem.
"I don't want anything to go down, but sometimes you have to take medicine to fix something," Trump said.
Open interest slides on CME
Open interest in the CME futures peaked in December at 281.57 BTC and has since declined to 140.5K, the lowest since August 2024, according to data source Coinglass.
It's a sign of money leaving the digital assets space, perhaps in anticipation of a deeper price swoon.
Meanwhile, global futures and perpetual futures open interest, excluding CME, has increased from roughly 400K BTC to 520 BTC in the past four weeks.
An increase in open interest alongside a price drop is said to confirm the bearish trend, indicating that traders are building short positions in a falling market.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Polkadot Rises 4% as Crypto Markets Stabilize
The token has support at the $2.19 level and resistance at $2.39.
What to know:
- DOT climbed from $2.13 to $2.21 in the last 24 hours.
- An exceptional volume surge of 15.89M tokens drove a breakout attempt before momentum faded.
- The token consolidated around the $2.19-$2.20 zone with resistance capping gains near $2.39.
Top Stories
