The crypto market experienced significant volatility in the past 24 hours, driven by Trump’s tariffs and cautious investor sentiment. Let’s explore breaking news in this daily market recap.
Market Overview
- Bitcoin Plunges: BTC dropped from $93K to $86K, with dominance at 58.1%, and the Fear & Greed Index at 44.
- Stablecoins Hold, Altcoins Weaken: USDC, TUSD steady; altcoins are under pressure, and Justin Sun rescues TUSD.
- Tokenized Gold Surges: Market cap hits $1.2B as gold exceeds $3K/oz, led by $XAUT, and $PAXG.
Daily Market Recap – Key News
- CZ on AI Agents: CZ claims only 0.05% of AI needs tokens, and urges focus on practical products.
- Trump-Linked Stablecoin Controversy: Rep. Waters slams Trump’s stablecoin at Congress, citing financial risks.
- Circle Plans IPO: Circle gears up for IPO, boosting crypto legitimacy.
- Fidelity Launches Crypto IRA: Fidelity introduces fee-free IRA for BTC, ETH, and LTC, pushing mainstream adoption.
Trump’s Tariff Impact
- Short-Term: 25% tariffs from 02/04/2025 trigger sell-off, BTC falls amid inflation fears and reverse yen carry trade.
- Long-Term: National BTC reserve and Fort Knox tokenization could bolster the market.
See more at Trump Tariff and Its Impact on the Crypto Market
Outlook
- High Volatility: Tariffs and market sentiment fuel sharp fluctuations.
- Emerging Trends: Stablecoins and tokenized assets gain traction; Fidelity and Circle drive mainstream growth.
MevX delivers the news as it happens, keep watching!
