In an exciting development for the cryptocurrency space, Bifrost (BFC), the innovative multichain middleware platform, has officially announced its membership in the prestigious Fintech Association of Japan (FAJ) . This strategic alliance signals a significant step forward for Bifrost and underscores the growing importance of interoperability and collaboration within the global fintech ecosystem. Let’s delve into what this groundbreaking partnership means for Bifrost, the FAJ, and the future of crypto adoption, particularly in the Japanese market. What is Bifrost and Why is its Multichain Middleware Platform Significant? Before we dive into the details of this exciting membership, it’s crucial to understand what Bifrost is and why its technology is making waves in the blockchain world. Bifrost is essentially a multichain middleware platform . But what does that actually mean? Imagine the internet before web browsers could seamlessly access different websites. Each website might require a unique browser, making navigation cumbersome and inefficient. Bifrost solves a similar problem in the blockchain space. With the proliferation of various blockchains, each operating in silos, the need for interoperability has become paramount. Bifrost acts as a bridge, connecting these disparate blockchain networks, enabling seamless communication and transactions across different ecosystems. Here’s a breakdown of why a multichain middleware platform like Bifrost is so important: Enhanced Interoperability: Bifrost facilitates the transfer of data and value between different blockchains, breaking down silos and fostering a more connected blockchain ecosystem. Simplified Development: Developers can leverage Bifrost to build decentralized applications (dApps) that can operate across multiple blockchains without needing to rewrite code for each network. This significantly reduces development complexity and time. Increased Liquidity: By connecting different blockchains, Bifrost can help aggregate liquidity, making it easier for users to access and trade digital assets across various platforms. Scalability and Flexibility: Bifrost’s architecture is designed to be scalable and adaptable, allowing it to support new blockchains and evolving industry needs. In essence, Bifrost is building the infrastructure for a more interconnected and efficient blockchain future, and its multichain middleware platform is a key component in realizing this vision. Why is Joining the Fintech Association of Japan (FAJ) a Strategic Move for Bifrost? Now that we understand Bifrost’s core offering, let’s examine why becoming a member of the Fintech Association of Japan (FAJ) is a strategic masterstroke. The FAJ is not just any organization; it’s a highly influential body in Japan’s rapidly evolving fintech landscape. The Fintech Association of Japan (FAJ) plays a pivotal role in: Promoting Fintech Innovation: The FAJ actively works to foster innovation and growth within the Japanese fintech sector. Industry Advocacy: It serves as a unified voice for fintech companies in Japan, engaging with regulators and policymakers to shape favorable industry regulations. Networking and Collaboration: The FAJ provides a platform for its members to network, collaborate, and share knowledge, fostering a vibrant and collaborative fintech community. Global Expansion Support: The FAJ assists its members in expanding their reach both within Japan and internationally. The FAJ boasts an impressive membership roster, including industry giants like PayPal, SBI Holdings, and Mizuho Financial Group. Joining this esteemed association provides Bifrost with a multitude of benefits: Benefit Description Enhanced Credibility and Visibility Membership in the FAJ lends significant credibility to Bifrost within the Japanese market and beyond. Association with established financial institutions and fintech leaders enhances Bifrost’s reputation and visibility. Access to a Powerful Network The FAJ membership provides Bifrost with direct access to a vast network of industry leaders, potential partners, investors, and regulators. This network can be invaluable for business development, fundraising, and navigating the Japanese regulatory landscape. Market Insights and Opportunities Through the FAJ, Bifrost gains access to valuable market insights, industry trends, and emerging opportunities within the Japanese fintech sector. This knowledge can inform Bifrost’s strategic decisions and product development roadmap. Policy Influence Being part of the FAJ allows Bifrost to contribute to policy discussions and advocate for regulations that support the growth of the blockchain and cryptocurrency industry in Japan. Facilitating Crypto Adoption in Japan By working alongside other FAJ members, Bifrost can play a more active role in driving crypto adoption in Japan . The association provides a platform to educate stakeholders, address regulatory hurdles, and build trust in cryptocurrency technologies. How Will This Membership Boost Crypto Adoption in Japan? Japan has long been recognized as a forward-thinking nation when it comes to technology, and it has also shown a progressive stance towards cryptocurrencies. However, like many countries, Japan is still navigating the regulatory landscape for digital assets to foster innovation while protecting consumers. Bifrost’s membership in the FAJ can be a catalyst for accelerating crypto adoption in Japan in several ways: Building Bridges with Traditional Finance: The FAJ includes traditional financial institutions, creating opportunities for Bifrost to bridge the gap between traditional finance and the burgeoning crypto world. This dialogue and collaboration are essential for mainstream crypto adoption in Japan . Educating and Building Trust: Through FAJ initiatives, Bifrost can participate in educational programs and workshops aimed at increasing understanding and trust in cryptocurrencies among businesses, regulators, and the general public in Japan. Promoting Regulatory Clarity: By working within the FAJ framework, Bifrost can contribute to constructive conversations with regulators, helping to shape clear and supportive regulations that encourage responsible crypto adoption in Japan . Fostering Innovation and Use Cases: The FAJ’s collaborative environment can stimulate the development of innovative fintech solutions leveraging Bifrost’s technology, showcasing the real-world benefits of blockchain and cryptocurrencies and driving crypto adoption in Japan through practical applications. Looking Ahead: What Does This Mean for Bifrost and the Future of Fintech? Bifrost joining the Fintech Association of Japan (FAJ) is more than just a membership; it’s a strategic alignment that positions Bifrost for significant growth and influence within the Japanese and global fintech landscape. This alliance underscores the increasing recognition of blockchain technology and interoperability as critical components of the future financial system. For Bifrost, this membership opens doors to invaluable partnerships, market opportunities, and policy influence. It solidifies its position as a leading multichain middleware platform and enhances its ability to drive crypto adoption in Japan and beyond. For the broader fintech industry, this collaboration signals a continued move towards greater integration between traditional finance and decentralized technologies. As Bifrost leverages the FAJ’s network and resources, we can expect to see exciting developments in blockchain interoperability, innovative fintech solutions, and increased mainstream crypto adoption in Japan and globally. In conclusion, Bifrost’s strategic move to join the Fintech Association of Japan is a powerful testament to the platform’s growing influence and the increasing importance of interoperability in the blockchain space. This alliance is poised to accelerate crypto adoption, foster innovation, and shape the future of fintech in Japan and beyond. Keep an eye on Bifrost – they are certainly a project to watch in the evolving world of cryptocurrency and decentralized finance. To learn more about the latest crypto adoption trends, explore our article on key developments shaping crypto institutional adoption.
Hold onto your hats, crypto enthusiasts! The market is experiencing a significant shake-up. Bitcoin, the king of crypto, is currently facing a tough time, losing ground as traditional safe-haven assets like gold are gaining traction. What’s behind this dramatic shift, and what does it mean for your crypto portfolio? Let’s dive deep into the current market dynamics. Bitcoin Price Under Pressure Amid Trade War Escalation The global financial landscape is currently dominated by escalating trade war tensions, primarily sparked by fresh U.S. trade tariffs imposed on Canada and Mexico. This move has triggered a ripple effect across global markets, causing investors to reassess their risk exposure. Assets perceived as risky, such as cryptocurrencies and stocks, are facing a sell-off, as investors seek refuge in safer alternatives. This flight to safety is a classic market reaction during times of economic uncertainty. Cointelegraph reported that Bitcoin (BTC) experienced a sharp downturn, plummeting by $10,000 in a mere 24 hours. This dramatic drop has effectively erased the gains from its recent rally, leaving many investors wondering about the short-term trajectory of Bitcoin and the broader crypto market . Is Bitcoin Losing its Safe Haven Status? For a long time, Bitcoin was touted by many as a digital gold, a hedge against inflation and economic instability, a safe haven asset in the digital age. However, recent market behavior is challenging this narrative. Analysts at The Kobeissi Letter have pointed out a significant divergence in performance between Bitcoin and gold: Gold’s Resurgence: Gold, the traditional safe-haven asset, is experiencing a strong year, up by 10% year-to-date. This highlights gold’s enduring appeal as a store of value during turbulent times. Bitcoin’s Struggle: In stark contrast, Bitcoin is down 10% year-to-date, indicating that it is currently not behaving as a safe haven in the eyes of many investors. This performance gap raises a crucial question: Is Bitcoin truly a safe haven asset, or is it still primarily viewed as a risky, speculative investment? The current market dynamics suggest that investor perception is leaning towards the latter, at least for now. Why Gold Shines While Bitcoin Slumps Amid Trade War? Several factors contribute to gold’s outperformance compared to Bitcoin in the current environment: Established History: Gold has a centuries-long history as a store of value and a safe haven. Its reliability in times of crisis is deeply ingrained in investor psychology. Tangible Asset: Gold is a physical, tangible asset. In times of uncertainty, some investors prefer the security of holding a physical commodity compared to digital assets. Liquidity in Traditional Markets: Gold markets are highly liquid and well-established within the traditional financial system, making it easier for institutional investors to allocate capital to gold during risk-off periods. Bitcoin’s Volatility: Despite its potential, Bitcoin remains a volatile asset. In times of heightened risk aversion, investors often shy away from volatility and seek stability. The ongoing trade war intensifies global economic uncertainty. When trade relations between major economies sour, businesses face disruptions, supply chains are affected, and overall economic growth prospects dim. In such an environment, investors typically reduce their exposure to riskier assets and increase allocations to safe havens like gold. The current situation is a textbook example of this market behavior. Critical Support Level for Bitcoin: 200-Day Moving Average From a technical analysis perspective, Bitcoin’s price is now testing a crucial support level – its 200-day moving average (DMA). The 200-DMA is a widely followed technical indicator that often acts as a significant support or resistance level. What does this mean for Bitcoin? Key Level: Holding above the 200-DMA is considered crucial for Bitcoin bulls. A break below this level could signal further downside pressure and potentially trigger more sell-offs. Psychological Significance: The 200-DMA is not just a technical level; it also carries psychological weight. Many traders and investors use it as a benchmark to gauge the overall trend and health of Bitcoin’s price action. Potential Outcomes: Bullish Scenario: If Bitcoin bounces back from the 200-DMA and reclaims higher levels, it could indicate resilience and a potential resumption of the upward trend. Bearish Scenario: A sustained break below the 200-DMA could confirm a shift in momentum and potentially lead to a deeper correction in Bitcoin’s price. Traders and analysts are closely monitoring Bitcoin’s price action around the 200-DMA to determine the next likely direction. The coming days and weeks will be critical in assessing whether Bitcoin can maintain this vital support level. Navigating the Crypto Market Amidst Global Uncertainty The current market scenario underscores the importance of diversification and risk management in the volatile world of cryptocurrencies. While Bitcoin holds long-term potential, it’s crucial to acknowledge its inherent risks and its sensitivity to broader market sentiment and global economic events. The crypto market is still relatively young and prone to significant price swings. Actionable Insights for Crypto Investors: Monitor Market Developments: Stay informed about global economic news, particularly updates on trade wars and geopolitical events. These factors can significantly impact the crypto market. Diversify Your Portfolio: Don’t put all your eggs in one basket. Consider diversifying your investments across different asset classes, including both cryptocurrencies and traditional assets like gold. Risk Management: Assess your risk tolerance and adjust your portfolio accordingly. Use stop-loss orders and other risk management tools to protect your capital. Long-Term Perspective: Remember that market corrections are a normal part of investing. Maintain a long-term perspective and avoid making impulsive decisions based on short-term market fluctuations. Conclusion: The Evolving Narrative of Bitcoin and Safe Havens The current market dynamics present a fascinating case study in the evolving narrative of Bitcoin and its role as a potential safe haven. While gold continues to assert its dominance as the go-to safe-haven asset during times of economic uncertainty and trade war anxieties, Bitcoin is facing a reality check. The recent price slump serves as a reminder that Bitcoin, while innovative and disruptive, is still subject to market forces and investor sentiment. Whether Bitcoin will eventually mature into a true safe haven asset remains to be seen. For now, in the face of global economic headwinds, traditional safe havens like gold are shining brighter, while Bitcoin navigates a period of increased volatility and uncertainty within the broader crypto market . To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin price action.
Stellar (XLM) has seen significant price turbulence, dropping 24.6% recently amidst a volatile market landscape that is testing key support levels. The rapid fluctuation in XLM’s price underscores broader market
By James Van Straten (All times ET unless indicated otherwise) The CME bitcoin (BTC) futures chart is in focus once again as bitcoin's recent 12% retracement has filled the latest CME gap —caused by the exchange’s weekend closure and bitcoin's price run up to $95,000. According to RiggsBTC , a post on X highlights a striking statistic: since bitcoin futures launched in December 2017, there have been 80 CME gaps, with only one unfilled at $21,000. Zooming out to the macroeconomic picture, the U.S. economy faces slower growth due to fiscal cuts, trade uncertainties, and a weakening housing market. Inflation is expected to trend lower, with the Federal Reserve prioritizing employment over price control, according to Professor Satoshi, an analyst at Greeks Live Options Trader, told CoinDesk exclusively. Professor Satoshi also views equities as overvalued, predicting a potential S&P 500 drop to 5700–5500. Meanwhile, the crypto market is experiencing de-risking, which often precedes downturns in equities. "You can see altcoins got de-risked. This means majors get de-risked afterward. Typically, it's the crypto market down first, then equities follow", according to Professor Satoshi. Additionally, Professor Satoshi expects the Fed to likely skip a rate cut in March and the potential for a larger 50 bps cut in May. A potential return of quantitative easing in 2025, one he has been anticipating since last year’s growth scare."The Federal Reserve are always behind because they are data driven. On my bingo cards for 2025 is return of quantitative easing. Which no one thinks is possible but have been thinking this for sometime because ever since the growth scare last year, we managed to kick the can down the curb until now".However, the strengthening Japanese Yen could be the canary in the coal mine, which is currently at its strongest level this year against the U.S. dollar at 148. Stay Alert! What to Watch Crypto: March 5, 2:29 a.m.: Ethereum testnet Sepolia receives the Pectra hard fork network upgrade at epoch 222464 . March 5, 11:00 a.m.: Circle hosts a live webinar titled “ State of the USDC Economy 2025 ” featuring Circle Chief Strategy Officer and Head of Global Policy Dante Disparte and three other executives from Bridge, Nubank and Cumberland. March 6: Ethereum-based L2 blockchain MegaETH deploys its public testnet , with user onboarding starting on March 10. March 7: President Trump will host the inaugural White House Crypto Summit , bringing together top cryptocurrency founders, CEOs and investors. Macro March 4, 8:00 p.m.: China’s 14th National People’s Congress (NPC) Third Annual Session starts. March 4, 8:30 p.m.: Bank of Japan Governor Kazuo Ueda speech at the IMF event "Asia and the IMF: Resilience through Cooperation" in Tokyo. March 4, 8:45 p.m.: Caixin Media releases February China economic activity data. Services PMI Est. 50.8 vs. Prev. 51 Composite PMI Prev. 51.1 March 5, 4:00 a.m.: HCOB (Hamburg Commercial Bank) releases (final) February eurozone PMI business activity data. Composite PMI Est. 50.2 vs. Prev. 50.2 Services PMI Est. 50.7 vs. Prev. 51.3 March 5, 5:00 a.m.: Eurostat releases January eurozone wholesale inflation data. PPI MoM Est. 0.3% vs. Prev. 0.4% PPI YoY Prev. 0% March 5, 8:00 a.m.: S&P Global releases February Brazil economic activity data. Services PMI Prev. 47.6 Composite PMI Prev. 48.2 March 5, 8:15 a.m.: Automatic Data Processing (ADP) releases February U.S. non-farm private sector employment data. ADP Employment Change Est. 140K vs. Prev. 183K March 5, 9:30 a.m.: S&P Global releases February Canada economic activity data. Services PMI Prev. 49 Composite PMI Prev. 49.5 March 5, 9:45 a.m.: S&P Global releases February U.S. economic activity data. Services PMI Est. 49.7 vs. Prev. 52.9 Composite PMI Est. vs. 50.4 vs. Prev. 52.7 March 5, 10:00 a.m.: Institute for Supply Management (ISM) releases February U.S. economic activity data. Services PMI Est. 52.9 vs. Prev. 52.8 Earnings (Ests. based on FactSet data) March 6 (TBC): Bitfarms ( BITF ), $-0.04 March 17 (TBC): Bit Digital (BTBT), $-0.05 March 18 (TBC): TeraWulf ( WULF ), $-0.04 March 24 (TBC): Galaxy Digital Holdings ( TSE: GLXY ), C$0.38 Token Events Governance votes & calls Paraswap DAO is discussing the return of 44.67 wrapped ether (wETH) to hacked cryptocurrency exchange Bybit that were collected by the DAO since the security breach. Ampleforth DAO is discussing authorizing the Ampleforth Foundation to borrow 800,000 FORTH tokens from the treasury over 12 months to provide liquidity on major centralized exchanges. Morpho DAO is voting on adjusting MORPHO token rewards on various networks by granting the Morpho Association the ability to alter rewards within predefined limits. March 4, 12 p.m.: Lido to host a Node Operator Call. March 5, 11 a.m.: Circle to host a call on The State of the USDC Economy . Unlocks March 2: Ethena (ENA) to unlock 66.19% of circulating supply worth $715.55 million. March 7: Kaspa (KAS) to unlock 0.63% of circulating supply worth $12.27 million. March 9: Movement (MOVE) to unlock 2.08% of its circulating supply worth $19.57 million. March 12: Aptos (APT) to unlock 1.93% of circulating supply worth $61.07 million. March 15: Starknet (STRK) to unlock 2.33% of its circulating supply worth $11.99 million. Token Listings March 4: Livepeer (LPT) to be listed on Bitbank. March 6: Roam ($ROAM) to be listed on KuCoin and MEXC. Conferences CoinDesk's Consensus is taking place in Toronto on May 14-16 . Use code DAYBOOK and save 15% on passes. March 8: Bitcoin Alive (Sydney, Australia) March 10-11: MoneyLIVE Summit (London) March 13-14: Web3 Amsterdam ‘25 (Netherlands) March 19-20: Next Block Expo (Warsaw, Poland) March 26: DC Blockchain Summit 2025 (Washington) March 28: Solana APEX (Cape Town, South Africa) Token Talk By Shaurya Malwa Ether (ETH) investors narrowly avoided a catastrophic cascade of liquidations within the MakerDAO ecosystem as ETH prices came within $80 of triggering the first liquidation at a critical price point of $1,929, according to data from MakerDAO vaults. The vaults, including Vault 26949, Vault 22025, and Vault 1985, are collateralized with ETH and hold a combined value of over $348 million. However, they face liquidation risks if ETH’s price drops to $1,929, $1,844, or $1,796, respectively. Market watchers are closely monitoring these levels, as a breach could destabilize the DAI stablecoin and ripple through the broader DeFi ecosystem, potentially causing significant volatility. The slide comes as ETH grapples with its worst price action in recent years—down 12% in the past 24 hours to reach levels last seen in late 2023. Derivatives Positioning The price swoon continues to shake out leverage traders. Bitcoin and ether futures open interest on Binance has hit the lowest level since August last year. Open interest in BTC and ETH futures listed on the CME has declined to levels seen in November. The CME basis, however, has recovered above 5%, hinting at renewed bullish flows. Top 25 cryptocurrencies are down on a 24-hour basis, but only HYPE, BCH, XMR, SUI, OM, BNB, UNI and TON have seen a concurrent rise in open interest. That's a sign of traders shorting the decline in these tokens. On Deribit, BTC and ETH options show a renewed bias for puts. A market participant paid over $2 million in premium to purchase the $85,000 BTC put expiring at the end of April. Market Movements: BTC is down 1.62% from 4 p.m. ET Monday at $84,001.60 (24hrs: -9.49%) ETH is down 0.48% at $2,101.37 (24hrs: -0.48%) CoinDesk 20 is down 2.7% at 2,734.47 (24hrs: -10.9%) Ether CESR Composite Staking Rate is down 7 bps at 3.07% BTC funding rate is at 0.0035% (3.89% annualized) on Binance DXY is down 0.43% at 106.29 Gold is up 1.18% at $2,924.2/oz Silver is up 1.28% at $32.44/oz Nikkei 225 closed -1.2% at 37,331.18 Hang Seng closed -0.28% at 22,941.77 FTSE is down 0.3% at 8,856.47 Euro Stoxx 50 is down 2.02% at 5,428.65 DJIA closed on Monday -1.48% at 43,191.24 S&P 500 closed -1.76% at 5,849.72 Nasdaq closed -2.64% at 18,350.19 S&P/TSX Composite Index closed -1.54% at 25,001.6 S&P 40 Latin America closed -0.53% at 2,286.64 U.S. 10-year Treasury rate is up 1 bps at 4.17% E-mini S&P 500 futures are down 0.11% at 5,854.25 E-mini Nasdaq-100 futures are unchanged at 20,464.25 E-mini Dow Jones Industrial Average Index futures are down 0.1% at 43,202.00 Bitcoin Stats: BTC Dominance: 60.98 (-0.82%) Ethereum to bitcoin ratio: 0.02511 (0.72%) Hashrate (seven-day moving average): 810 EH/s Hashprice (spot): $52.2 Total Fees: 6.06 BTC / $550,672 CME Futures Open Interest: 139,245 BTC BTC priced in gold: 29.1 oz BTC vs gold market cap: 8.27% Technical Analysis XRP/BTC's weekly chart. (TradingView) The XRP-bitcoin (XRP/BTC) pair is pushing against the upper end of a four-year-long sideways channel. Breakouts from such prolonged consolidation patterns often yield sharp rallies. Crypto Equities MicroStrategy (MSTR): closed on Friday at $250.92 (-1.77%), down 1.63% at $246.82 in pre-market Coinbase Global (COIN): closed at $205.75 (-4.58%), down 1.01% at $203.68 Galaxy Digital Holdings (GLXY): closed at C$20.76 (-3.58%) MARA Holdings (MARA): closed at $13.79 (-0.93%), down 2.61% at $13.43 Riot Platforms (RIOT): closed at $8.86 (-4.53%), down 1.58% at $8.72 Core Scientific (CORZ): closed at $10.14 (-9.14%), down 0.89% at $10.05 CleanSpark (CLSK): closed at $7.79 (-2.5%), down 1.8% at $7.65 CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $16.50 (-7.41%) Semler Scientific (SMLR): closed at $38.89 (-9.39%), down 3.5% at $37.53 Exodus Movement (EXOD): closed -2.91% at $40.97 ETF Flows Spot BTC ETFs: Daily net flow: -$74.2 million Cumulative net flows: $36.87 billion Total BTC holdings ~ 1,131 million. Spot ETH ETFs Daily net flow: -$12.1 million Cumulative net flows: $2.81 billion Total ETH holdings ~ 3.636 million. Source: Farside Investors Overnight Flows Chart of the Day The Solana-based DEXes registered $105.9 billion in trading volume in February, comfortably outdoing Ethereum's tally of $82 billion. Solana 's winning trend began in October, largely due to the frenzied trading in memecoins. While You Were Sleeping Tom Lee Predicts Market Bottom This Week, Still Sees Bitcoin Closing the Year at $150K (CoinDesk): Fundstrat’s Head of Research recently said Bitcoin could drop to $62,000 in the short term but still expects it to reach $150,000 by the end of 2025. Bitcoin Price Support Near $82K Under Threat as Nasdaq Triggers 'Double Top' (CoinDesk): Despite the past weekend’s crypto rally, Bitcoin’s long-term rebound may depend on Nasdaq’s trajectory, according to research firm Ecoinometrics. THORChain Sees Record $4.6B Volume After Bybit's $1.4B Hack (CoinDesk): DefiLlama data shows THORChain processed record swaps in the week ending March 2, while blockchain analysis suggests hackers may have used the platform to move a significant amount of funds stolen from Bybit. China Retaliates Against U.S. With Tariffs, Controls on U.S. Companies (The Wall Street Journal): On Tuesday, China retaliated against Trump’s additional 10% tariffs on Chinese imports by imposing up to 15% tariffs on U.S. agricultural goods, set to take effect March 10. Canada Retaliates, Puts Tariffs on $107 Billion of US Products (Bloomberg): Canada’s 25% tariffs on $20.6 billion in U.S. goods are now in effect, with a second round in three weeks targeting an additional $86.4 billion in exports, including cars, trucks, steel and aluminum. Global Government Borrowing Set To Hit Record $12.3Tn (Financial Times): Global sovereign debt will rise 3% this year as defense spending, high interest rates and deficits drive borrowing, while investors like Pimco cut exposure to long-term government bonds over sustainability concerns. In the Ether
The crypto market is experiencing heightened volatility, with liquidation risk intensifying for key altcoins due to significant whale activity and evolving regulatory news. Major price shifts have the potential to
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The cryptocurrency market has suffered another sharp downturn, with Bitcoin ( BTC ) plunging more than 10% in the past 24 hours, now trading below $85,000. The crash triggered over $985 million in liquidations, wiping out earlier gains fueled by Trump’s weekend proposal for a US strategic crypto reserve . The sell-off erased $460 billion from the total crypto market capitalization, leaving investors unsettled as panic sets in. Crypto market crash sees surge in liquidations The market-wide collapse led to a significant spike in liquidations, with Bitcoin alone accounting for $370 million in wiped-out positions in the last 24 hours. Ethereum ( ETH ) saw $190 million in liquidations, followed by Solana ( SOL ) with $58.87 million, XRP with $51 million, and Cardano ( ADA ) with $36 million. Crypto market liquidation. Source: CoinGlass The timing of the crash coincided with President Trump’s new tariffs on Mexico and Canada, which took effect on March 4. A day earlier, Bitcoin had surged nearly 20% from its November lows following Trump’s announcement of a US strategic crypto reserve . However, concerns over regulatory hurdles and political feasibility dampened enthusiasm, leading to a swift pullback. Notably, Bitcoin critic Peter Schiff called the announcement the “biggest crypto rug pull of all time.” Schiff even demanded a Congressional probe into whether Trump’s inner circle might have profited from the initial market surge before the collapse. Donald Trump, the first crypto President, just helped pull off the biggest crypto rug pull of all time. A Congressional investigation is now warranted to find out the following regarding this pump and dump scheme. Who authored the two Sunday afternoon posts on the President's… — Peter Schiff (@PeterSchiff) March 3, 2025 Bitcoin’s February sell-off marks one of the worst in history Bitcoin wrapped up February with a 17.39% monthly drop, marking its second-worst February on record, only surpassed by a 31.03% crash in 2014. Bitcoin Monthly returns(%). Source: CoinGlass Historically, February has been a strong month for Bitcoin, with an average gain of 13.12% over the past decade. The last time Bitcoin experienced a similar February decline was in 2014, when it lost over 31% following the Mt. Gox exchange collapse, one of the biggest crises in Bitcoin’s history. The sharp selloff was compounded by Bitcoin ETF outflows , which peaked at $1.1 billion on February 25, according to Farside data indicating weakening institutional demand. What’s next for Bitcoin? At press time, Bitcoin is trading at $83,724, down 10% in the past 24 hours and 22% below its January peak of $108,066. Despite the sharp decline, some prominent industry figures remain optimistic about the cryptocurrency’s long-term outlook. Bitcoin one-day price chart. Source: Finbold Former BitMEX CEO Arthur Hayes believes that Bitcoin’s worst-case scenario would see a floor near $70,000, in line with previous cycle peaks. Similarly, CryptoQuant CEO Ki Young Ju suggested that even if BTC drops to $77,000, it would still be a healthy retracement within a broader bullish phase rather than a shift into a bear market. That being said, for now, the crypto market is experiencing one of its most volatile phases of 2025, with regulatory clarity and macroeconomic stability emerging as key factors for recovery. Featured image via Shutterstock The post Bitcoin crashes again—what’s behind the $985 million crypto market wipeout in a day? appeared first on Finbold .
Bybit is still tracking most of the $1.4 billion stolen in a February 21 hack, but CEO Ben Zhou revealed that $280 million has completely disappeared .
The Bybit hacker has laundered $1.04 billion in stolen funds in just 10 days, but security firms believe some assets may still be recoverable through blockchain tracing.
On March 4th, COINOTAG News reported a significant downturn in the cryptocurrency market, which has seen a drastic correction of over 14.7% within a 24-hour period, leading to a total