Crypto News Summary: April 3, 2026 — BTC Drops as Market Sentiment Hits Extreme Fear

Hello traders! Today the market is bleeding red. The Fear & Greed Index has plummeted to 9 points (Extreme Fear), the lowest level in months. Let’s take a look at what’s happening.

1. Bitcoin Continues to Slide to $66,800 — Market Fears Iran Tensions

According to data from CoinGabbar, Bitcoin (BTC) has dropped to approximately $66,868, a decrease of about 0.82-1.28% in 24 hours. After hitting $69,268 on April 1, the market fell sharply following Trump’s speech signaling a hardline stance against Iran instead of easing tensions as investors hoped. Analyst Benjamin Cowen noted that this might just be a typical midterm year pattern where BTC tends to consolidate in April, rather than being solely about political news.

2. WTI Crude Surges 14% in a Single Day, Pressuring the Crypto Market

Another major downward pressure factor is the price of WTI Crude Oil, which soared to $113 per barrel, an increase of over 14% in one day according to CoinDesk. Rising inflation concerns are putting pressure on the Fed to hold off on interest rate cuts, leading investors to sell off risk assets, including crypto. For those trading on SiamDEX, Brent Oil (BRENTOIL) and WTI (CL) on HIP-3 moved aggressively upward today.

3. Today’s Jobs Report — Could Shake BTC Again

As analyzed by 24/7 Wall St., the March Non-Farm Payroll figures will be released today at 8:30 AM ET. Since the stock market is closed for Good Friday, crypto will be the only market reacting to this data in real-time. If the numbers are worse than expected, BTC might bounce back to test $70,000. However, if they exceed expectations, it could drop further to test the $65,000 support level.

4. Hyperliquid HIP-3 Open Interest Hits All-Time High of $2.3B

Some good news amidst a red market! According to CoinGecko, Hyperliquid HIP-3 Open Interest has surged to an All-Time High of $2.3 billion, reflecting that traders are still actively using the platform despite market volatility. Meanwhile, the HYPE token is trading around $34.8, down approximately 10.6% over the past week.

5. DeFi TVL Holds at $91B Despite Market Downturn

According to DefiLlama, the Total Value Locked in DeFi remains steady at around $91.3 billion, even as the broader crypto market fell by 2.4%. Ethereum remains the chain with the highest TVL. The Stablecoin market cap stands at $316 billion, indicating that capital is remaining within the ecosystem but shifting into stablecoins for safety.

6. X (Twitter) to Lock Accounts Posting Crypto Content for the First Time

Elon Musk's X has announced a new measure that will lock accounts posting crypto-related content for the first time, requiring identity verification. As reported by CoinGabbar, Product Lead Nikita Bier stated this measure aims to combat the scams and phishing currently rampant on the platform.

Quick Take

The market is currently in Extreme Fear mode. The primary drivers are Iran tensions + high oil prices + anticipation of the Jobs Report. For traders using SiamDEX on Hyperliquid, this volatility presents both Long and Short opportunities depending on the economic data outcomes. However, exercise caution with leverage as liquidity may be lower during the Good Friday holiday.

⚠️ DYOR — This article is a news summary only and does not constitute investment advice. Crypto trading involves high risk; always conduct thorough research before making any decisions.