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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 During their six-day streak of negative flows, these ETFs saw over $2 billion withdrawn from the products.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.
- 22:59DeFi lending protocol Spark invests $100 million into Superstate Fund to diversify yieldsJinse Finance reported that the DeFi lending protocol Spark has allocated $100 million in stablecoin reserves to Superstate's USCC fund, aiming to generate returns through crypto spot and futures arbitrage trading and diversify away from reliance on US Treasury yields. This move comes as US Treasury yields have fallen to a six-month low. Previously, Spark mainly generated returns through tokenized treasury products, but this investment allows it to maintain stable yield opportunities within a compliant framework while expanding its sources of income.
- 22:12JPMorgan: Optimistic About Stripe's AI and Payment "Dual Revolution," with Potential Market Opportunities Exceeding $350 billionsJinse Finance reported that JPMorgan analysts stated that payment giant Stripe is leveraging AI-driven commerce and digital asset infrastructure to lay out a "dual revolution," potentially opening up market opportunities exceeding $350 billion before 2030. Stripe achieved profitability last year, with annual payment processing volume surpassing $1.4 trillion. Through the acquisitions of Bridge and Privy, as well as the launch of the Tempo blockchain, the company is deeply engaged in the stablecoin and crypto wallet business, laying the foundation for the integration of global payments for AI agent commerce and programmable money. However, analysts also cautioned that corporate expansion, business spin-offs, and regulatory risks still exist, especially regarding US stablecoin regulation and the European MiCA rules.
- 22:09The probability of a 25 basis point rate cut by the Federal Reserve in October reaches 98.3%.According to ChainCatcher, citing Golden Ten Data, CME "FedWatch" shows that the probability of the Federal Reserve cutting interest rates by 25 basis points in October is 98.3%, while the probability of keeping rates unchanged is 1.7%. In addition, the probability of a cumulative 50 basis point rate cut by December is 93.4%.