2 months ago
By Francisco Rodrigues (All times ET unless indicated otherwise)
President Donald Trump ramped up the trade-war hyperbole, threatening to increase import tariffs levied connected the EU and Canada if they support connected moving to “do economical harm” to the U.S. aft announcing a 25% tariff connected vehicles and foreign-made car parts.
Despite the threat, crypto markets remained stable, with bitcoin holding dependable astatine astir $87,500. Over 24 hours the largest cryptocurrency is down astir 0.6% and the broader CoinDesk 20 Index some 2%.
The increasing threats not lone rise concerns astir economical growth, but besides widen the spread betwixt the U.S. and Europe, whose leaders are gathering with Ukraine’s President Volodymyr Zelensky contiguous to enactment connected semipermanent information guarantees. The acme comes aft the U.S. persuaded Ukraine and Russia to hold to a Black Sea ceasefire.
Cryptocurrency prices are being influenced not lone by macroeconomic factors, but besides by the forthcoming expiry of astir $15 cardinal worthy of BTC and ETH options contracts connected Friday. The uncertainty has stalled BTC’s terms rally, adjacent aft video-games retailer GameStop moved to rise $1.3 cardinal to accumulate the cryptocurrency.
Still, the U.S. House of Representatives has released a bill that’s acceptable to assistance trim systemic risks associated with stablecoin usage. Blockchain improvement is besides progressing steadily, with Ethereum’s last Pectra trial going unrecorded connected the Hoodi network.
Looking ahead, the U.S. Senate Banking Committee volition contiguous clasp a proceeding connected the information of Paul Atkins — who holds up to $6 cardinal successful crypto-related assets — arsenic the Chair of the Securities and Exchange Commission. Stay alert!
What to Watch
Crypto:
March 27: Walrus (WAL) mainnet goes live.
April 1: Metaplanet (3350) 10-for-1 stock split becomes effective.
Macro
March 27, 8:30 a.m.: The U.S. Bureau of Economic Analysis releases (Final) Q4 GDP data.
GDP Growth Rate QoQ Est. 2.3% vs. Prev. 3.1%
Core PCE Prices QoQ Est. 2.7% vs. Prev. 2.2%
PCE Prices QoQ Est. 2.4% vs. Prev. 1.5%
Real Consumer Spending QoQ Est. 4.2% vs. Prev. 3.7%
March 27, 8:30 a.m.: The U.S. Department of Labor releases unemployment security information for the week ended March 22.
Initial Jobless Claims Est. 225K vs. Prev. 223K
March 27, 10:00 a.m.: The U.S. Senate Banking Committee volition clasp a proceeding connected the information of Paul Atkins to the seat of the Securities and Exchange Commission (SEC). Livesteam link.
March 27, 3:00 p.m.: Mexico's cardinal slope announces its involvement complaint decision.
Target Rate Est. 9% vs. Prev. 9.5%
March 28, 8:00 a.m.: The Brazilian Institute of Geography and Statistics (IBGE) releases February unemployment complaint data.
Unemployment Rate Est. 6.8% vs. Prev. 6.5%
March 28, 8:00 a.m.: Mexico's National Institute of Statistics and Geography releases February unemployment complaint data.
Unemployment Rate Est. 2.6% vs. Prev. 2.7%
March 28, 8:30 a.m.: Statistics Canada releases January GDP data.
GDP MoM Est. 0.3% vs. Prev. 0.2%
March 28, 8:30 a.m.: The U.S. Bureau of Economic Analysis releases February user income and expenditure data.
Core PCE Price Index MoM Est. 0.3% vs. Prev. 0.3%
Core PCE Price Index YoY Est. 2.7% vs. Prev. 2.6%
PCE Price Index MoM Est. 0.3% vs. Prev. 0.3%
PCE Price Index YoY Est. 2.5% vs. Prev. 2.5%
Personal Income MoM Est. 0.4% vs. Prev. 0.9%
Personal Spending MoM Est. 0.5% vs. Prev. -0.2%
April 2, 12:01 a.m.: The Trump administration’s reciprocal tariffs plan, announced Feb. 13, takes effect alongside a 25% tariff connected imported automobiles and definite parts announced March 26.
Earnings (Estimates based connected FactSet data)
March 27: KULR Technology Group (KULR), post-market, $-0.02
March 28: Galaxy Digital Holdings (GLXY), pre-market, C$0.38
Token Events
Governance votes & calls
DYdX DAO is discussing the allocation of $10 million to money the astir profitable traders connected the level successful a bid to pull talent. The DAO is besides voting on creating a caller liquidity tier designed for “markets introduced done the Instant Market Listings” feature.
Venus DAO is discussing the imaginable acquisition of a 33% involvement successful Thena.fi for $4.5 cardinal to presumption Venus to “build a broad DeFi SuperApp connected the BNB Chain."
Balancer DAO is discussing the constitution of a Balancer Alliance Program, which would spot the protocol stock a information of the gross it generates with cardinal ecosystem partners successful the signifier of USDC arsenic veBAL.
CoW DAO is discussing updating the people explanation for bargain orders aft a Base web incidental revealed that the existent explanation could pb to an excessive allocation of solver rewards.
March 27, 9 a.m.: PancakeSwap and EOS Network Foundation to host an Ask Me Anything (AMA) session.
March 27, 12 p.m.: Cardano Foundation to hold a livestream with its CTO breaking down the project’s roadmap.
March 27, 12 p.m.: Header to big a Community Call with enactment for Post-Quantum Cryptographic Algorithm, sponsored feels ,and AI tools connected the agenda.
March 27., 1 p.m.: Alchemy Pay to big a Community AMA session.
March 28, 3 a.m: Ontology to clasp a Weekly Community Update via X Spaces.
Unlocks
March 31: Optimism (OP) to unlock 1.93% of its circulating proviso worthy $28.67 million.
April 1: Sui (SUI) to unlock 2.03% of its circulating proviso worthy $178.46 million.
April 1: ZetaChain (ZETA) to unlock 6.05% of its circulating proviso worthy $17.66 million.
April 2: Ethena (ENA) to unlock 0.77% of its circulating proviso worthy $17.63 million.
April 3: Wormhole (W) to unlock 47.64% of its circulating proviso worthy $144.79 million.
April 7: Kaspa (KAS) to unlock 0.59% of its circulating proviso worthy $11.74 million.
April 9: Movement (MOVE) to unlock 2.04% of its circulating proviso worthy $24.92 million.
Token Listings
March 27: Walrus (WAL) to beryllium listed connected Gate.io, KuCoin, Bluefin, MEXC, Bitget, and Bybit.
March 28: Binance to delist Aergo (AERGO).
March 31: Binance to delist USDT, FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC, and PAXG.
Conferences
CoinDesk's Consensus is taking spot in Toronto connected May 14-16. Use codification DAYBOOK and prevention 15% connected passes.
Day 2 of 3: Real World Crypto Symposium 2025 (Sofia, Bulgaria)
March 27: Building Blocks (Tel Aviv)
March 27: Digital Euro Conference 2025 (Frankfurt)
March 27: Web3 Banking Symposium 2.0 (Lugano, Switzerland)
March 27: WIKI Finance EXPO Hong Kong 2025
Day 1 of 2: Money Motion 2025 (Zagreb, Croatia)
March 28: Solana APEX (Cape Town)
April 2-3: Southeast Asia Blockchain Week 2025 Main Conference (Bangkok)
April 2-5: ETH Bucharest Conference & Hackathon (Bucharest, Romania)
April 3-6: BitBlockBoom (Dallas)
Token Talk
By Shaurya Malwa
A viral AI creation inclination fueled by OpenAI’s caller 4o exemplary sparked a surge successful Studio Ghibli-themed memecoins, blending nostalgia with cryptocurrency speculation arsenic fans make Ghibli-style images and traders capitalize connected the hype.
The ghiblification (GHIBLI) token, the largest, boasted a $21 cardinal marketplace headdress and $70 cardinal successful trading measurement wrong 24 hours driven by implicit 250,000 trades connected the Ethereum and Solana blockchains.
The trend, marked by the #GhibliAI hashtag amassing millions of hits connected X and Instagram, reflects net culture’s emotion for wit and absurdity, attracting speculators with low-cost, high-volatility tokens.
Smaller Ghibli-inspired tokens similar Ghilbi Doge, NoFace and Yutaro lag down GHIBLI successful trader interest, portion the latter’s liquidity excavation holds conscionable implicit $330,000 successful Solana’s SOL.
Derivatives Positioning
While BTC, ETH CME futures yields stopped falling aboriginal this month, determination has been a noticeable deficiency of progress, peculiarly successful the aftermath of continued firm adoption of bitcoin. The divergence suggests blase marketplace players stay cautious.
BTC, ETH perpetual backing rates connected offshore exchanges are hardly positive, different motion of cautious sentiment.
TRX, XMR, TON and SUI are the lone apical 25 coins with affirmative nett cumulative measurement deltas for the past 24 hours. The affirmative worth indicates nett buying successful the perpetual futures market.
BTC and ETH short-end options-based implied volatility indexes proceed to drift lower, with investors inactive pricing bigger swings successful ETH comparative to bitcoin.
Deribit-listed options proceed to amusement a bias for abbreviated duration puts successful BTC, ETH, SOL and XRP.
Market Movements:
BTC is up 0.22% from 4 p.m. ET Wednesday astatine $87,494.70 (24hrs: -0.86%)
ETH is up 0.69% astatine $2,025.47 (24hrs: -1.90%)
CoinDesk 20 is up 0.48% astatine 2,757.13 (24hrs: -2.19%)
Ether CESR Composite Staking Rate is up 2 bps astatine 2.97%
BTC backing complaint is astatine 0.0087% (3.1744% annualized) connected Binance
DXY is unchanged astatine 104.47
Gold is up 0.82% astatine $3,045.80/oz
Silver is up 1% astatine $34.37/oz
Nikkei 225 closed -0.6% astatine 37,799.97
Hang Seng closed +0.41% astatine 23,578.80
FTSE is down 0.66% astatine 8,632.24
Euro Stoxx 50 is down 0.7% astatine 5,373.68
DJIA closed connected Wednesday -0.31% astatine 42,454.79
S&P 500 closed -1.12% astatine 5,712.20
Nasdaq closed -2.04% astatine 17,899.02
S&P/TSX Composite Index closed -0.7% astatine 25,161.10
S&P 40 Latin America closed -0.83% astatine 2,460.26
U.S. 10-year Treasury complaint is up 4 bps astatine 4.4%
E-mini S&P 500 futures are unchanged astatine 5,763.25
E-mini Nasdaq-100 futures are unchanged astatine 20,112.25
E-mini Dow Jones Industrial Average Index futures are up 0.16% astatine 42,815.00
Bitcoin Stats:
BTC Dominance: 61.69 (-0.14%)
Ethereum to bitcoin ratio: 0.02317 (0.17%)
Hashrate (seven-day moving average): 838 EH/s
Hashprice (spot): $49.19
Total Fees: 9.67 BTC / $846,444x
CME Futures Open Interest: 144,470 BTC
BTC priced successful gold: 28.8 oz
BTC vs golden marketplace cap: 8.17%
Technical Analysis
The stock terms of bitcoin-holder Strategy (MSTR) has risen past $320, confirming a bullish treble bottommost breakout.
The signifier suggests potential for a rally for the Nasdaq-listed shares to absorption astatine $410.
Crypto Equities
Strategy (MSTR): closed connected Wednesday astatine $329.31 (-3.66%), up 0.48% astatine $330.89 successful pre-market
Coinbase Global (COIN): closed astatine $193.95 (-5.03%), up 0.81% astatine $195.52
Galaxy Digital Holdings (GLXY): closed astatine C$18.08 (-3.06%)
MARA Holdings (MARA): closed astatine $13.79 (-3.23%), up 0.51% astatine $13.86
Riot Platforms (RIOT): closed astatine $7.9 (-7.17%), up 1.01% astatine $7.98
Core Scientific (CORZ): closed astatine $7.63 (-11.89%), up 1.97% astatine $7.78
CleanSpark (CLSK): closed astatine $8.12 (-6.99%), up 0.62% astatine $8.17
CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed astatine $14.32 (-8.5%)
Semler Scientific (SMLR): closed astatine $39.57 (-6.63%)
Exodus Movement (EXOD): closed astatine $50 (-10.78%), up 0.6% astatine $50.30
ETF Flows
Spot BTC ETFs:
Daily nett flow: $89.6 million
Cumulative nett flows: $36.33 billion
Total BTC holdings ~ 1,115 million.
Spot ETH ETFs
Daily nett flow: -$5.9 million
Cumulative nett flows: $2.43 billion
Total ETH holdings ~ 3.406 million.
Source: Farside Investors
Overnight Flows
Chart of the Day
AI is the worst-performing crypto marketplace assemblage of the past 24 hours.
The dire show is accordant with losses successful AI-related stocks connected Wall Street supposedly triggered by Microsoft abandoning information halfway projects acceptable to usage 2 gigawatts of energy successful the U.S. and Europe.
While You Were Sleeping
Dogecoin Gains, XRP Slumps arsenic Trump Warns of 'Far Larger' Tariffs (CoinDesk): President Donald Trump threatened Canada and the EU with higher tariffs if they collaborated and harmed the U.S. economy. His station connected Truth Social damped aboriginal affirmative sentiment successful crypto markets.
Rattled by Trump, America’s Allies Shift to Defense Mode (The New York Times): Trump’s 25% car tariff alarmed allies including Canada, Japan and Germany, who spot it arsenic a breach of decades-old economical and defence partnerships with the U.S.
BlackRock Expands Digital Asset Team, Adds Four High-Level Roles (CoinDesk): The plus manager advertised for a manager of integer assets, manager of regulatory affairs, vice president for integer plus and ETF ineligible counsel, and subordinate for integer assets.
Robinhood, Moving Beyond Meme Stocks, Now Wants to Be Your Bank (Bloomberg): Later this twelvemonth successful the U.S., Robinhood Gold subscribers volition summation entree to savings and checking accounts offering precocious yields, same-day currency transportation and services similar property planning.
Donald Trump’s Cuts to US Government Raise Worries Over Economic Data Quality (Financial Times): Economists accidental the Department of Government Efficiency could undermine the prime of U.S. economical information by weakening agencies down cardinal indicators similar ostentation and jobs reports.
Studio Ghibli Craze Inspires Memecoins connected Ethereum, Solana After OpenAI’s 4o Release (CoinDesk): AI-generated creation styled aft Studio Ghibli films has gone viral, sparking the instauration of Ghibli-themed cryptocurrencies, with ghiblification (GHIBLI) reaching a marketplace headdress of $21 million.
In the Ether
English (US) 