Day: March 4, 2025

Bitcoin price stabilizes near $83K as investors eye S&P 500 recovery

admin

Bitcoin’s (BTC) recent volatility highlights how markets tend to overreact, especially in situations that can escalate, such as trade wars. The 6.5% drop in the S&P 500 since its all-time high on Feb. 19 might seem minor in absolute terms, but the potential earnings impact is more significant. However, derivatives markets suggest Bitcoin’s dip below $83,000 should be short-lived. Traders tend to sell off assets when they sense a recession coming. Presently, investors are moving into cash and short-term government bonds. This shift explains why the US 2-year Treasury yield…

Tariff turmoil sparks $1 billion in liquidations: CoinGlass

admin

Cryptocurrency derivatives traders suffered more than $1 billion in liquidations in the past 24 hours as fears of a looming trade war sent markets tumbling, according to data from CoinGlass.  More than 87% of liquidations came from long positions after a volatile start to March that saw double-digit losses on March 4 erase similarly large gains from only days earlier, the data showed.  On March 4, US President Donald Trump imposed 25% tariffs against Canada and Mexico, the United States’ largest trading partners, sending the S&P 500 stock index down…

Belarus president orders development of crypto mining

admin

Belarus President Alexander Lukashenko has instructed his energy minister to begin developing the country’s cryptocurrency mining industry, signaling a growing intent to generate additional revenue streams from the country’s excess energy supplies.  According to a March 4 report by local media outlet BelTA, President Lukashenko passed on the instructions to the newly appointed minister of energy, Alexei Kushnarenko. “Look at this mining,” Lukashenko said, according to a translated version of the report. “If it is profitable for us, let’s do it. We have excess electricity. Let them make this cryptocurrency…

White House will support rescinding DeFi broker rule: David Sacks

admin

David Sacks, the AI and crypto czar in the Trump administration, said the White House would support congressional efforts to rescind the Internal Revenue Service (IRS) decentralized finance (DeFi) broker rule. In a March 4 X post, Sacks said the administration supported Texas Senator Ted Cruz’s and Ohio Representative Mike Carey’s resolutions under the Congressional Review Act to repeal a regulatory rule that expands the definition of a “broker” to include software providers that enable access to DeFi protocols. According to the AI and crypto czar, US President Donald Trump’s…

Trump’s administration backs resolution to undo IRS DeFi broker rule

admin

Key Takeaways The White House supports a congressional resolution to repeal an IRS rule impacting DeFi platforms. The rule required DeFi participants to report detailed transaction and taxpayer information, causing privacy concerns. Share this article The White House has expressed strong support for a joint resolution to overturn an IRS rule that imposes extensive disclosure requirements on DeFi projects, Trump’s AI and crypto czar announced Tuesday. The White House is pleased to announce its support for the CRA introduced by @SenTedCruz and @RepMikeCarey to rescind the so-called Broker DeFi Rule,…

Bitcoin sags toward $80K as US dollar strength bounces off 12-week low

admin

Bitcoin (BTC) stayed volatile at the March 4 Wall Street open as weak crypto markets weighed the impact of US trade tariffs. BTC/USD 1-hour chart. Source: Cointelegraph/TradingView Bitcoin edges closer to multimonth lows Data from Cointelegraph Markets Pro and TradingView showed new local lows of $82,037 for BTC/USD on Bitstamp. A rebound then took the pair, still down over $10,000 versus the prior day’s high, to near $85,000. Bitcoin and altcoins felt the heat thanks to US tariffs against Mexico and Canada going into effect, while plans for a US…

Is crypto’s ‘Trump effect’ short-lived?

admin

Many in the crypto community believed that US President Donald Trump’s second-term election would send Bitcoin prices skyrocketing, and it did — from $69,374 on Election Day (Nov. 5) to a record $108,786 when the new administration took office on Jan. 20.  But since that time, the price of Bitcoin (BTC) has mostly fallen, dropping below $80,000 on Feb. 28 — a 26% decline. The new administration stormed into office committed to establishing a strategic crypto reserve, crypto-friendly cabinet appointments, and market-structure reform legislation, among other changes. It has mostly…

Trump’s crypto czar David Sacks confirms divesting from Solana backer Multicoin

admin

Key Takeaways David Sacks divested from Multicoin Capital following scrutiny over Trump’s crypto stockpile plan. Sacks’ past investment in Solana through Multicoin generated approximately $1 billion in returns. Share this article David Sacks, the White House AI and Crypto Czar, said today he has divested from Multicoin Capital, the crypto-focused venture capital firm known for backing Solana. The statement comes amid scrutiny over President Trump’s plan to include Bitcoin, Ether, Solana, XRP, and Cardano in a national crypto stockpile, which triggered major price increases for the selected digital assets. Political…

Could solo mining beat corporate Bitcoin miners?

admin

Opinion by: Dr. Michael Tabone, senior economist for Cointelegraph Bitcoin (BTC) mining has long been dominated by large-scale industrial operations, with public companies like Marathon Digital, CleanSpark and Riot Platforms controlling significant portions of the global hashrate. But what if that balance of power shifted? What if millions of individuals across industrialized nations took up home mining? Home Bitcoin miners This hypothetical scenario isn’t as far-fetched as it seems, especially with the rise of small, efficient ASICs like the Bitaxe Gamma 601, FutureBit Apollo, iPollo v1 Mini BTC and Antminer…

Trump’s Treasury Secretary Scott Bessent vows to bring down interest rates to help struggling Americans

admin

Key Takeaways Treasury Secretary Bessent plans to lower interest rates to aid struggling Americans with high borrowing costs. Plans to deregulate banking and expand energy production aim to reduce costs and enhance US export capabilities. Share this article Treasury Secretary Scott Bessent reaffirmed the administration’s commitment to tackling inflation and making life more affordable for Americans. Speaking in an interview with FOX News on Tuesday, Bessent detailed the administration’s economic priorities, including efforts to lower interest rates. 🇺🇸 JUST IN: US Treasury Secretary Scott Bessent states, “We are committed to…