Altcoins News
By Jean-Luc Maracon
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Bitcoin took a beating yesterday. The world's biggest cryptocurrency tumbled under $63,000 as traders freaked out about President Trump's tariff threats hitting global trade and…
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The selloff started overnight when word spread that the Commerce Department might drop more tariff news soon.
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Fidelity Investments, one of the big institutional players in crypto, said they're watching the situation closely.
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The Chicago Mercantile Exchange saw Bitcoin futures volume spike as traders rushed to hedge their bets.
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Bitcoin miners are feeling the squeeze too. When prices drop this hard, mining operations start losing money fast.
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But here's where it gets interesting - Glassnode reported that Bitcoin is actually flowing off exchanges.
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Binance confirmed the trading frenzy. A company spokesperson said volume surged about 20% on February 24 compared to the previous week.
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The SEC hasn't said a word about any of this. Their silence on crypto regulation during trade policy chaos leaves everyone guessing.
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MicroStrategy, which owns tons of Bitcoin, stayed quiet too. The company didn't announce any changes to their massive crypto holdings.
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Coinbase saw crazy trading action yesterday. The exchange said users were both buying and selling like mad, with the sub-$63,000 price level attracting bargain hunters and…
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Tesla hasn't commented on their Bitcoin stash either. Elon Musk used to move crypto markets with his tweets, but he's been radio silent lately.
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The Bitcoin Fear and Greed Index crashed into "Extreme Fear" territory on February 23. When this indicator hits those levels, it usually means traders expect more pain ahead.
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Grayscale Investments isn't budging on their Bitcoin Trust strategy. A spokesperson said February 24 that they're sticking with their long-term plan despite the market mess.
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The Commerce Department's tariff hints keep hanging over everything. Until there's clarity on trade policy, Bitcoin probably stays jumpy.
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The Federal Reserve's upcoming monetary policy meeting on March 15 adds another layer of uncertainty for crypto investors.
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