Overview

You are now viewing Crypto Daybook Americas, your new morning briefing on overnight developments in the crypto markets and expectations for the day ahead. This daily update will replace the First Mover Americas newsletter. If you’re not subscribed yet, click here to join. You won’t want to start your day without it.

Market Observations

The cryptocurrency markets are currently seeing a significant downturn, coinciding with growing risk aversion in traditional markets, largely attributed to President Trump’s recent tariff decisions. On Friday, he imposed a 25% tariff on imports from Canada and Mexico and 10% on those from China, provoking retaliatory measures that have triggered fears of a renewed trade war reminiscent of 2018.

The consensus among analysts on social media suggests that this market downturn due to tariffs may be short-lived, with expectations for rapid recovery in Bitcoin (BTC). However, others believe the pain may be more persistent this time.

Trump’s actions have dismantled the previous optimism regarding potential minimal tariffs as negotiating tactics; in fact, he has threatened to escalate tariffs if trading partners retaliate. With Canada and Mexico already responding with their measures, further escalation seems likely.

Geo Chen, a macro trader and author of the popular newsletter Fidenza Macro, shares, “My view is that they will remain in place for several months with the risk of increasing, as Canada has pledged to retaliate and China has initiated a lawsuit against the U.S. in the WTO.” He expressed concerns that the current changes could lead to higher market volatility lasting days or weeks, especially since the latest tariffs cover a substantial $1.3 trillion in imports from these nations.

What to Watch

• Crypto:

  • Feb. 4: Pepecoin (PEPE) Halving at block 400,000.
  • Feb. 5: Boba Network’s Holocene upgrade.

• Macro Events:

  • Feb. 3: S&P Global to release January’s U.S. Manufacturing PMI Final report.

• Earnings Reports:

  • Feb. 5: MicroStrategy (MSTR), post-market.

Market Movements

• BTC fell by 6.3% from its previous close, currently trading at $95,631.55.
• ETH is down by 21.9% at $3,734.92.

Crypto Equities

• MicroStrategy (MSTR): closed on Friday at $334.79, with pre-market down to $316.81.
• Coinbase Global (COIN): closed at $291.33, now at $274.74 in pre-market.

Be prepared and stay informed!

---