Overview
You are reading Crypto Daybook Americas, your morning update on the happenings in the crypto market and predictions for the day.
Bitcoin fell below $80,000 recently, bringing February’s losses to over 20%. This drop has influenced the entire market, leading to a decline in Ethereum prices as well, which fell below $2,100.
Increased volatility in cryptocurrencies reflects a broader trend seen in traditional markets. The Volmex BVIV, which tracks Bitcoin’s implied volatility, recently surged by 10%, mirroring rises in traditional volatility indexes like the VIX, which has also grown by 14%.
Concerns surrounding potential tariffs imposed by President Trump have driven traders to seek safer assets, thereby causing a downturn across various asset classes, including cryptocurrencies.
“U.S. domestic policies have become unstable, and the White House seems happy to take advantage of this instability,” said Griffin Ardern, head of options trading and research at BloFin.
Upcoming addresses by President Trump may heighten market nerves, complicating an already delicate situation.
What to Watch
- Crypto Events: March 1 marks the beginning of spot trading on Arkham Exchange across several U.S. states.
- Macro Indicators: Expect the latest personal consumption and expenditure data from the U.S. Bureau of Economic Analysis on Feb. 28.
Market Movements
- BTC shows a 3.3% decrease from Thursday, currently holding at approximately $80,552.45.
- ETH has dropped by 4.62%, with its price resting at around $2,135.58.
Conclusion
Stay tuned as the crypto space continues to react to macroeconomic pressures and monitor key regulatory developments.
