Price Action

• ⁠ Bitcoin saw a sharp decline from 86,400 to 80,400, breaking key technical levels with $2.5M in short-side liquidations. The 200-day moving average (81,900) now serves as resistance, with possible scenarios including a rebound toward 95,000 or a further drop to 75,000.
• ⁠ Ethereum plunged from 2,350 to 2,130, facing $5.8M in liquidations and losing support at the 20-day, 50-day, and 200-day moving averages. Elevated funding rates suggest further downside risk, with 2,000 as critical support and 2,720 as key resistance.

Top movers: RED (+100%), ERN (+91.1%), TAO (-13.9%), TRUMP (-13.6%), S (-13.4%).

Friday

• ⁠  Crypto-related stocks fell pre-market as Trump’s tariff threats drove investors toward safer assets, adding pressure to Bitcoin’s decline.
• ⁠  BTC dropped 7.2% on Friday, hitting its lowest level since November, now down 27% from its all-time high six weeks ago.
• ⁠  Meanwhile, US stock futures inched higher as traders awaited the Fed’s preferred inflation gauge. Economists expect core PCE to rise 2.6% year-over-year in January, down from 2.8% in December, with a monthly increase of 0.27%. A hotter-than-expected reading could raise investor concerns.
• ⁠  China vowed to retaliate after President Trump announced new tariffs on Chinese imports, escalating tensions between the world’s largest economies.

Thursday

• ⁠  President Donald Trump confirmed that 25% tariffs on Canada and Mexico will take effect on March 4, along with an additional 10% tax on Chinese imports.
• ⁠  The US economy grew at a solid pace, though inflation was higher than previously estimated in late 2024. The Fed’s preferred inflation gauge, the core PCE index, rose 2.7% instead of the earlier 2.5% estimate, driven mainly by rising service costs.
• ⁠  US jobless claims hit their highest level this year as corporate and federal job cuts increased.
• ⁠  Stocks erased gains, with the Nasdaq 100 dropping over 1%. A leading AI chipmaker fell 4% after delivering solid but underwhelming earnings, disappointing investors used to blockbuster results.

Wednesday

• ⁠  ETF flows indicate waning interest in Trump-related trades, with fixed-income seeing increased inflows while crypto faces the largest outflows.
• ⁠  Global stocks climbed as investors awaited Nvidia’s earnings, which could reignite the AI-driven rally.
• ⁠  Europe’s Stoxx 600 hit a record high, while Nasdaq 100 and S&P 500 futures rose 0.8% and 0.5%, respectively, signaling a Wall Street rebound after Tuesday’s drop, triggered by weak consumer confidence data and recession concerns.
• ⁠  China plans at least $55 billion in bank capital injections.
• ⁠  US mortgage rates hit their lowest level this year but failed to boost lending activity.

Tuesday

• ⁠  Bitcoin dropped below $90K, its lowest since mid-November, amid trade tariffs and industry setbacks. A broader risk-off shift, ETF outflows, and issues like a major hack and memecoin scandal have fueled the decline.
• ⁠  Treasuries surged as uncertainty surrounding US President Donald Trump’s policies drove investors toward safe-haven assets.
• ⁠  Futures for the S&P 500 and Nasdaq 100 stabilized, recovering from earlier losses after a volatile Wall Street session on Monday. Chip stocks struggled, with Nvidia dropping in early trading, while ASML Holding NV and STMicroelectronics NV declined after Trump announced new measures to restrict China’s semiconductor industry and urged allies to follow suit.
• ⁠  Trump also reaffirmed plans to impose tariffs on Mexican and Canadian imports.
• ⁠  The VIX Index, often referred to as the “fear gauge,” hit its highest level this year, just below 20.
• ⁠  Meanwhile, Nvidia’s upcoming earnings report on Wednesday could be a major market-moving event, given its significant influence on broader equities.

Monday

• ⁠  ⁠North Korea Suspected in $1.5 Billion Cryptocurrency Heist – Hackers stole $1.5 billion in Ethereum from the Bybit exchange, marking the largest digital heist to date. The Lazarus Group, a North Korean cybercriminal organization, is suspected of involvement.
• ⁠  ⁠Robinhood Plans Major Crypto Expansion – Robinhood Markets announced plans to significantly expand its cryptocurrency trading services, leveraging a favorable regulatory environment under the Trump administration. The company aims for rapid global growth while maintaining responsible practices.
• ⁠  ⁠Global Markets React to U.S. Economic Concerns and Tariff Threats – Asian markets are set for a cautious opening following Wall Street’s decline, driven by concerns over the U.S. economy and new tariff threats from President Donald Trump. Investors are seeking safe havens amid the uncertainty.
• ⁠  ⁠Ukraine’s Future Remains Uncertain on Invasion Anniversary – As the third anniversary of Russia’s invasion of Ukraine approaches, global leaders, including French President Emmanuel Macron and U.K. Prime Minister Sir Keir Starmer, are engaging in discussions with President Trump to seek resolutions to the ongoing conflict.
• ⁠  ⁠Federal Workforce Cuts Raise Economic Concerns – Significant reductions in the federal workforce and government spending, coupled with anxiety over proposed import tariffs and migrant deportations, are contributing to a pessimistic economic outlook in the U.S.
• ⁠  ⁠Robinhood Expands Crypto Services – Robinhood announced plans to expand its cryptocurrency trading globally, leveraging favorable regulations under the Trump administration.
• ⁠  ⁠Crypto Fight Night in Hong Kong Attracts Global Audience – The recent Crypto Fight Night event in Hong Kong drew 550 elite attendees and garnered 600,000 global viewers, setting the stage for a 2025 world tour and highlighting the growing mainstream interest in cryptocurrency.