The Currency analytics
By Jean-Luc Maracon
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…
The selloff started overnight when word spread that the Commerce Department might drop more tariff news soon.
Fidelity Investments, one of the big institutional players in crypto, said they're watching the situation closely.
The Chicago Mercantile Exchange saw Bitcoin futures volume spike as traders rushed to hedge their bets.
Bitcoin miners are feeling the squeeze too. When prices drop this hard, mining operations start losing money fast.
But here's where it gets interesting - Glassnode reported that Bitcoin is actually flowing off exchanges.
Binance confirmed the trading frenzy. A company spokesperson said volume surged about 20% on February 24 compared to the previous week.
The SEC hasn't said a word about any of this. Their silence on crypto regulation during trade policy chaos leaves everyone guessing.
MicroStrategy, which owns tons of Bitcoin, stayed quiet too. The company didn't announce any changes to their massive crypto holdings.
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…
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.
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.
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.
The Commerce Department's tariff hints keep hanging over everything. Until there's clarity on trade policy, Bitcoin probably stays jumpy.
The Federal Reserve's upcoming monetary policy meeting on March 15 adds another layer of uncertainty for crypto investors.