BTC is currently trading around $81,800 and ETH around $1,900. Notable gainers in the last 24 hours are MOVE, IP, and OM. The global crypto market cap is $2.75T, down 2.3% over the last day. DeFi Total Value Locked is ~$88b and BTC dominance is around 62%.
Equity and crypto markets are lower amidst rising US tariff uncertainty and economic growth fears. The tariff situation in particular remains fluid, with Trump imposing tariffs on Canada, Mexico, and China last week, only to temporarily suspend duties on some Canadian and Mexican imports, but with steel and aluminum tariffs set to start on Wednesday and reciprocal tariffs slated for April 2. Moreover, the Trump administration dismissed the impact on financial markets yesterday, stating that business activity rather than market performance is what matters. Lastly, the US federal government is scheduled to partially shut down on Saturday unless Congress can pass a funding bill this week. All told, the increased uncertainty continues to weigh on asset prices and is increasing the importance of this week’s data releases, which include US CPI inflation and a Bank of Canada monetary policy decision on Wednesday, US PPI inflation on Thursday, and US consumer sentiment on Friday.
Notable news includes: Trump vowed to sign stablecoin legislation before August, amend crypto tax rules, and end crypto de-banking at Friday’s Crypto Summit; the SEC may abandon a requirement that would expand the regulation of alternative trading systems to include crypto firms; the US OCC announced that banks can partake in certain crypto-related activities without obtaining pre-approval; the US Department of Housing stated is considering integrating blockchain and stablecoin technology to enhance operations; Pakistan announced it will explore using blockchain technology for remittances; Brazil’s state-owned postal service launched a selection process for blockchain firms to help improve its operations; El Salvador signed a digital asset regulatory cooperation agreement with Paraguay; the Cayman Islands moved to require crypto trading and custody firms to obtain licenses; crypto critic Mark Carney became the 24th Prime Minister of Canada; Japan advanced a bill to ease rules for crypto brokerages and stablecoins; the South Korean democratic party teased a strategic Bitcoin reserve; Thailand’s SEC approved USDT and USDC for cryptocurrency trading; Singapore Exchange revealed plans to launch BTC perpetual futures in 2H25 pending MAS approval; the ECB revealed that it is targeting to launch its digital euro by October; Spanish bank BBVA announced it will offer Bitcoin and Ethereum trading to customers; Deutsche Boerse announced it will launch Bitcoin and Ethereum custody services; Strategy launched a $21b preferred stock at-the-money offering program; digital asset investment funds saw $922m of outflows last week; Binance banned an unnamed market maker involved in misconduct with GPS and SHELL tokens; Binance announced a community voting mechanism for token listings; Coinbase announced it will launch 24/7 federally-regulated BTC and ETH futures trading; Kraken revealed it is considering an IPO in 2026; Mt Gox moved $905m of Bitcoin to an unknown address; Ethereum’s Holesky testnet regained finality after Pectra testing; and, Movement launched a beta version of its public mainnet.
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Author:
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Brian Rudick, Head of Research | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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