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One crypto analyst suggests that Bitcoin long positions may "become viable" once the long-term seller supply increases again.
Bitcoin dropped by 9.7% and ether declined by 14.7% as Trump initiated a trade war with tariffs on Canadian and Mexican imports coming into effect on Tuesday. An analyst stated that Trump's stringent tariff measures have "further fueled risk-off sentiment."
President Trump's announcement regarding a U.S. Crypto Strategic Reserve sent prices soaring across the crypto industry, boosting the total industry market cap by nearly 20% since its recent lows on Friday. Cardano, XRP, Trump's memecoin, and Solana were the best performing coins over the past 24 hours; BNB rose the least out of the top 10 cryptocurrencies by market cap.
US spot bitcoin ETFs experienced a total daily net outflow of $1 billion, excluding flow data from Ark Invest’s ARKB. During their six-day streak of negative flows, these ETFs saw over $2 billion withdrawn from the products. Analysts suggested that the rebalancing of institutional investors’ positions in the ETFs might have contributed to the record-high outflows.
The sentiment in the crypto market plummeted to "Extreme Fear" following US President Donald Trump's announcement that 25% tariffs against Canada and Mexico are proceeding as planned.
Bitcoin traders are concerned about a return to the lower end of the BTC price range as market inertia allows bears to maintain control approaching the monthly close.
Bitcoin is finally exhibiting behaviour similar to stocks and gold, approaching near all-time highs as BTC price action resumes.
Bitcoin is mirroring gold's price growth path, increasing the likelihood of achieving price targets exceeding $300,000.
World Liberty Financial utilised its USDC reserves to acquire $1.4 million in MOVE and $5 million in wrapped BTC. Additionally, it staked 2,221 ETH with Lido Finance and deposited 5 million USDC into Aave’s lending protocol.
- 04:58A certain whale deposited 5.8 million USDC into Hyperliquid and opened a 3x leveraged short position on MON.According to ChainCatcher, market sources report that after Hyperliquid announced the launch of 3x leveraged MON perpetual contracts, a whale immediately deposited 5.8 million USDC into Hyperliquid and opened a 3x leveraged MON short position.
- 04:46Forward Industries launches institutional-grade validator node on Solana and stakes all SOL holdingsChainCatcher news, according to Businesswire, Nasdaq-listed SOL treasury company Forward Industries announced that its institution-grade validator node, developed in collaboration with Galaxy, has been launched on the Solana blockchain. This node is supported by DoubleZero, and ecosystem participants can directly delegate SOL staking to Forward Industries. Forward Industries stated that it has currently staked all of its SOL holdings on the validator node. Public information shows that the company holds approximately 6.822 million SOL.
- 04:29Hyperliquid launches MON perpetual contractAccording to Jinse Finance, the official page shows that Hyperliquid has launched MON perpetual contracts, supporting up to 3x leverage.