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.