What to know:
- Bitcoin is trading at $87,600, which is just a stone’s throw away from “Do I really need this?” land.
- Ether’s gains? Vanished like my enthusiasm for Monday mornings, plunging to a five-year low – thanks a lot, Trump.
- U.S. stocks are plummeting again. Who could’ve seen that coming? Maybe investors should invest in bubble wrap.
So much for the Sunday Trump bump; it vanished faster than freshly baked cookies at a PTA meeting.
As we dive into your midday crypto therapy session, bitcoin (BTC) is now lounging at $86,700. It’s hardly the kingsize bed it once was, lying there barely awake since Trump decided to tweet about his big crypto dreams.
Ether, bless its heart, is now beneath where it was pre-Trump. At 0.025, it’s like it walked into a posh restaurant and got told to leave immediately — and not because of dress code!
The other party crashers Trump mentioned — Solana (SOL), Ripple (XRP), and Cardano (ADA) — are also taking a little dip in the pool of disappointment, though they’re still hanging on to some of their Sunday gains like a toddler at a family gathering.
According to crypto coffee whisperers, QCP Capital, “Crypto vols are still relatively elevated,” which sounds like jargon for “We still have no idea what’s happening, but hold on tight!” The VIX is also elevated, indicating everyone’s collectively holding their breath, especially post-tariff threat. Exciting times, right?
Crypto stocks are losing weight faster than I do during a surprise visit to the dentist. Companies like Core Scientific (CORZ) and Bitdeer (BTDR) are looking like that sad puppy at the shelter with sizable losses this session.
Then there’s Semler Scientific (SMLR), the medical equipment maker that’s maybe slightly more famous for its bitcoin treasury strategy and now off 7.3%. Apparently, the DOJ wants to have a little chat about some shady marketing tactics. It’s like the backup dancer you never wanted suddenly becoming the star of the show — so awkward!
The broader stock market is also wearing red, like my face after stumbling over a friend’s cat. The Nasdaq took a 1.1% tumble, while the S&P 500 is down 0.8%. Nvidia (NVDA) is down 6.5%, caught up in a U.S. export controls breach case. It’s a regular soap opera over here.
“Concerns over U.S. growth and impending tariffs on China, Mexico, and Canada will be in focus,” Jake Ostrovskis, OTC Trader at the crypto market maker Wintermute, casually reminds us, as if we weren’t all losing sleep over this already. Good times ahead, folks!
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2025-03-03 23:07