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Cryptocurrency prices are being shaped not just by the usual macroeconomic factors, but also by the upcoming expiration of about $15 billion in BTC and ETH options contracts this Friday. On the positive side for Bitcoin, it’s still holding above key support levels around the 20-day and 200-day moving averages near $84,000, which is crucial for maintaining momentum. The overall trend is pretty neutral with a slight bullish lean, showing higher highs and higher lows, which is keeping prices up for now. A bit of excitement came when GameStop revealed plans to raise $1.3 billion to add Bitcoin to their balance sheet, sparking a brief price bump. Volatility is trending downward, which suggests traders are in a “wait and see” phase.
On the whale front, Glassnode data shows BTC whales are buying at their fastest rate since August 2024. These big investors have been on a shopping spree, accumulating over 129,000 BTC since March 11, worth around $11.2 billion at the current market price of $87,500, signaling a more optimistic outlook.
Meanwhile, the equity markets took a hit after Trump announced new tariffs on foreign-made cars, effective April 2nd. He’s been talking about these tariffs for a while, and his plan is to make them permanent throughout his second term. He also hinted at imposing even higher tariffs on the EU and Canada if they team up to challenge U.S. trade policies.
The News Room
GameStop Plans $1.3 Billion Bitcoin Investment
GameStop announced plans to raise $1.3 billion through a private convertible note offering to invest in Bitcoin. This move aligns GameStop with other companies integrating Bitcoin into their investment strategies.
Trump Family Venture Launches USD1 Stablecoin
World Liberty Financial, backed by the Trump family, is launching USD1, a stablecoin backed by U.S. Treasuries and cash equivalents. The stablecoin will be issued on both the Ethereum network and Binance's blockchain.
NYSE parent company exploring Circle’s USDC and USYC stablecoins for financial systems
The parent company of the New York Stock Exchange (NYSE), Intercontinental Exchange (ICE), is exploring Circle's USDC (USD Coin) and USYC (US Yen Coin) stablecoins to integrate them into its financial systems. ICE is evaluating how these stablecoins can facilitate payments, clearing, and settlement processes. This move is part of a broader trend where traditional financial institutions are looking to adopt blockchain-based solutions for enhancing financial infrastructure. Stablecoins like USDC and USYC could provide faster, more efficient alternatives to legacy systems in cross-border transactions and liquidity management.
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Disclaimer
This research is for informational use only. This is not investment advice. Other than disclosures relating to Secure Digital Markets this research is based on current public information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on as such. The information, opinions, estimates, and forecasts contained herein are as of the date hereof and are subject to change without prior notification. We seek to update our research as appropriate.
Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation. The price of crypto assets may rise or fall because of changes in the broad market or changes in a company's financial condition, sometimes rapidly or unpredictably. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur. Fluctuations in exchange rates could have adverse effects on the value or price of, or income derived from, certain investments. We and our affiliates, officers, directors, and employees, excluding equity and credit analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives, if any, referred to in this research.
The information on which the analysis is based has been obtained from sources believed to be reliable such as, for example, the company’s financial statements filed with a regulator, company website, company white paper, pitchbook and any other sources. While Secure Digital Markets has obtained data, statistics, and information from sources it believes to be reliable, it does not perform an audit or seek independent verification of any of the data, statistics, and information it receives.
Unless otherwise provided in a separate agreement, Secure Digital Markets does not represent that the report contents meet all of the presentation and/or disclosure standards applicable in the jurisdiction the recipient is located. Secure Digital Markets and their officers, directors and employees shall not be responsible or liable for any trading decisions, damages or other losses resulting from, or related to, the information, data, analyses, or opinions within the report.
Crypto and/or digital currencies involve substantial risk, are speculative in nature and may not perform as expected. Many digital currency platforms are not subject to regulatory supervision, unlike regulated exchanges. Some platforms may commingle customer assets in shared accounts and provide inadequate custody, which may affect whether or how investors can withdraw their currency and/or subject them to money laundering. Digital currencies may be vulnerable to hacks and cyber fraud as well as significant volatility and price swings.
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