The period surrounding April 18, 2025, has been marked by significant cryptocurrency market volatility, primarily influenced by macroeconomic uncertainty stemming from evolving US tariff policies. While these macro factors have driven short-term price action, demonstrating crypto's continued sensitivity to broader risk sentiment, concurrent developments in the US regulatory landscape suggest a potential shift towards clearer frameworks. Actions such as the repeal of expanded DeFi tax reporting rules and progress on stablecoin legislation offer potential long-term positives, though immediate market reactions remain highly attuned to macro news and specific token or platform events. Crypto assets, particularly Bitcoin and Ethereum, have largely traded in line with traditional risk assets like equities during this period, reacting sharply to shifts in global economic sentiment triggered by geopolitical and economic announcements. Underlying ecosystem developments, including institutional product launches and specific project advancements, continue, albeit overshadowed by the prevailing macro narrative. The coming week holds potential catalysts in the form of regulatory discussions on custody and the market's reaction as full trading volume resumes post-holiday.