PumpSwap Surpasses $2.6 Billion in Trading Amid Trump Tariffs Concerns
Asian and European stocks continued to decline, with Japan's Nikkei 225 down 4%, entering correction territory after a drop exceeding 10%. European indexes like the FTSE 100, DAX, and CAC 40 opened lower amid falling U.S. stock futures.
President Trump is set to announce new tariffs on April 2 aimed at countries with unfair trade practices. His remarks indicate potential concessions for some nations.
U.S. equities fell following higher-than-expected core PCE inflation data. The upcoming jobs report anticipates a rise in unemployment to 4.2% and a decrease in nonfarm payrolls to 128,000.
Gold surged past $3,100 per ounce, marking a 20% increase year-to-date. Bitcoin is struggling above $80,000, down over 3% this month and 12% for the quarter. Ether has declined 46% this quarter, reaching its lowest ether-to-bitcoin ratio since May 2020.
Upcoming Events
- March 31: dKargo (DKA) and Keeta (KTA) testnets go live.
- March 31: PinLink (PIN) launches on Ethereum mainnet.
- March 31: Terraform Labs opens Crypto Loss Claims Portal, claims due by April 30.
- April 1: Metaplanet stock split becomes effective; ONINO (ONI) mainnet launch.
- April 2: XIONMarkets (XION) mainnet launch.
Market Movements
- BTC is down 2.98% at $81,535.28.
- ETH is down 4.96% at $1,792.22.
- Nikkei 225 closed -4.05% at 35,617.56.
- Gold is up 1.3% at $3,126.50/oz.
Derivatives Positioning
Total open interest decreased to $101.3 billion. Liquidations reached $229.3 million, with long positions comprising 79% of total liquidations. Significant liquidation clusters for BTC are at $81,200, $83,100, and $83,600.
Technical Analysis
XRP approaches a critical support zone between $1.95 and $2.05. Acceptance below this level may lead to further declines.
Crypto Equities
- MSTR closed at $289.41 (-10.84%).
- Coinbase Global closed at $173.93 (-7.77%).
- Galaxy Digital Holdings closed at C$16.45 (-5.68%).
ETF Flows
Spot BTC ETFs saw a daily net flow of -$93.2 million, with cumulative net flows at $36.33 billion. Spot ETH ETFs had a daily net flow of $4.7 million.
Bitcoin and Ether are on track for their steepest quarterly declines since Q2 2022.