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Dogecoin, XRP Sink 7% as Trump Tariffs Threats Dent Markets; Bitcoin Options Expiry Looms

Published

5 дней ago

28 марта, 2025

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Dogecoin (DOGE), ether (ETH) and xrp (XRP) sank more than 5% in early Asian hours as traders took profits on a relief rally earlier in the week, with eyes on the U.S. personal consumption expenditure (PCE) figures scheduled for release later Friday.

Crypto majors tracked by the broad-based CoinDesk 20 (CD20) showed a 4.5% slide on average, led by DOGE at 7%. Toncoin’s TON was the only token in the top-20 by market capitalization in the green with a 5% rise in the past 24 hours.

Gold surged to fresh highs Friday with a jump above $3,109 in Asian morning hours, continuing a stellar rise since early March. The MSCI World Index had its longest losing streak in a month, per Bloomberg, while a regional gauge of Asian equities was poised for its biggest drop since Feb. 28.

Over $12.2 billion worth of bitcoin (BTC) options will expire with max pain at $85,000 later Friday.

“Spot is trading sideways and OI continues to bleed lower, signalling a broad lack of near-term optimism in the market,” traders at Singapore-based QCP Capital said in a Telegram broadcast. “With the PCE Index data due tomorrow, we believe any short-term upside remains capped as markets wait for clarity from Trump’s next move in this escalating trade war.”

The PCE index captures inflation (or deflation) across a wide range of consumer expenses and reflects changes in consumer behavior.

Released monthly, the PCE is said to influence Fed interest rate decisions. High PCE readings signal rising inflation, potentially prompting rate hikes to cool the economy, which can reduce risk appetite and pressure bitcoin prices downward as investors favor safer assets.

Conversely, low PCE data suggests tame inflation, possibly leading to rate cuts or steady policy, boosting liquidity and supporting Bitcoin’s price as a speculative asset or inflation hedge.

The next release is on March 28 and could sway market sentiment, with bitcoin’s reaction tied to how the data shapes Fed expectations — volatility often follows as traders adjust positions.

Markets have been heavy since Thursday as President Donald Trump warned of deeper tariffs on Canada and the European Union in case the two collude and policies impact U.S. economic activity. In turn, Prime Minister Mark Carney of Canada said late Thursday the country would move rapidly to trade more with other countries as the U.S. was “no longer a reliable partner.”

“The global market is highly sensitive to monetary policies set by major economies, particularly the United States,” Innokenty Isers, Chief Executive Officer at Paybis, told CoinDesk in a Telegram message. “With its relatively higher volatility, risk-averse investors may favor alternative inflation hedges instead of Bitcoin.”

“Considering the longer stretch of the trade war and the potential inflation that will emerge, capital allocation to BTC as a hedge against economic instability might be reduced,” Isers warned.

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Stablecoin Giant Circle Files for IPO

Published

1 час ago

1 апреля, 2025

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Circle, the U.S.-based stablecoin issuer, is going public.

The firm filed an S-1 form with the Securities and Exchange Commission (SEC) on Tuesday. If approved, the company’s stock will be trading on the New York Stock Exchange under the symbol «CRCL.»

The company said its reserve income from managing its stablecoin-related reserves was $1.7 billion at the end of 2024, representing 99.1% of its total revenue.

Circle is behind USDC, the second largest stablecoin by market capitalization, with $60 billion in supply. The firm’s IPO has been one of the most anticipated in crypto.

It’s not the only crypto-adjacent company looking to go public. Artificial Intelligence (AI) firm CoreWeave (CRWV), which benefits from a strong business relationship with bitcoin mining firm Core Scientific (CORZ), started trading on the public market on March 28.

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GameStop Has $1.5B of Bitcoin Buying Power After Closing Convertible Note Sale

Published

1 час ago

1 апреля, 2025

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Bitcoin (BTC) purchases from video game retailer GameStop (GME) could be imminent or may have already begun after the company closed on its offering of $1.3 billion of five-year convertible notes.

The $200 million greenshoe option was fully exercised by the initial purchaser, bringing the total amount of the sale to $1.5 billion. Net proceeds to the company after fees were $1.48 billion, according to a filing Monday after the close of U.S. trading.

Alongside its fourth quarter earnings report last week, GameStop — led by its CEO Ryan Cohen — announced full board approval of an update to the company investment policy to add bitcoin to the GME balance sheet.

GME shares rose 1.35% during the regular session on Monday and are up another 0.8% in after hours action. Bitcoin remains modestly higher over the past 24 hours at $84,900.

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OpenAI’s $40B Raise Calms Market Jitters, Sends CoreWeave and AI Tokens Higher

Published

2 часа ago

1 апреля, 2025

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CoreWeave (CRWV) shares rose more than 38% on their third day of trading debut after raising nearly $1.5 billion from its IPO following OpenAi’s announcement of a record-breaking $40 billion funding round on Monday.

The artificial intelligence (AI) startup went public on the Nasdaq exchange on Friday afternoon. The stock dropped below its IPO price to $39 and ended the day flat at $40 before dropping another 10% on Monday, its first full day of trading. CoreWeave’s IPO came at a time of strong anxiety and uncertainty in global markets, diminishing investor appetite and risk tolerance.

However, investor sentiment towards AI-related stocks seemed to have changed on Tuesday after AI powerhouse OpenAI announced on Monday that it had closed a $40 billion funding round, valuing the company at $300 billion. The move appears to have assured investors that there continues to be a strong appetite for AI companies, even in the current rough market.

This positive outlook has also spread to digital assets, as AI-related tokens were boosted on Tuesday. AI tokens, including Near Protocol (NEAR), Internet Computer (ICP), Bittensor (TAO) and Render (RENDER), were all up over 3% on Tuesday, with RENDER leading the group, trading 7.4% higher. The broader digital assets market, CoinDesk20 Index, also rose 3%.

Meanwhile, the shares of Core Scientific (CORZ), the bitcoin miner and data center with a large partnership with CoreWeave, have also risen more than 9% on Tuesday.