U.S. stock markets are facing challenges as the S&P 500 (SPX) experienced a bearish gap, indicating potential downward pressure. The SPX saw a bounce of 35 points off its lows, attributed to short covering ahead of a collar adjustment by JPMorgan. Meanwhile, major stocks, including Nvidia (NVDA), are nearing local lows, and the SPX is currently below its 200-day moving average. In the cryptocurrency market, Bitcoin (BTC) is approaching $85,000, reflecting a 3% increase, while Ethereum (ETH) has risen by 5%. Other cryptocurrencies such as XRP and ADA have also gained over 5%. The overall market remains cautious ahead of an upcoming U.S. tariff announcement, with a total market capitalization of $2.84 trillion and Bitcoin dominance at 58.13%. Gold continues to perform well, marking a notable contrast to the struggles of U.S. stocks, which have had a poor first quarter.