The crypto market is going through tough times: in the last 24 hours, liquidations amounted to about $1 billion, and $BTC along with altcoins lost their recent gains. New tariffs from US President Donald Trump have affected trader sentiment. Is there light at the end of the tunnel? Analyzing key events.
Tariffs and the Market
The announcement of new tariffs in the US triggered a wave of sell-offs. $BTC, which recently held above $100k, corrected, and altcoins like $ETH also felt the pressure. Ahead is the crypto summit in Washington on March 7 — investors are waiting for signals that could stabilize the situation.
Analysts' Perspective
Peter Schiff: The cryptocurrency critic believes that the market needs careful analysis due to recent events and urges Congress to pay attention to volatility.
Arthur Hayes: In a new article, he writes that the bullish trend remains, but a correction of $BTC to $70k is possible due to external factors.
Security in Question
Bybit reported a hack: hackers laundered 499k $ETH ($1.4 billion). The exchange's CEO assures that 77% of the funds have been tracked, 20% lost, and 3% frozen. This incident serves as a reminder: security is a priority for crypto investors.
Positive Signals
SEC: Investigation against Yuga Labs halted — a plus for the NFT sector.
NYSE: Bitwise's DOGE ETF application — $DOGE may receive a new boost.
Japan: SBI VC Trade has received the first license for stablecoins — a step towards legalization.
$ETH: Drop to $1,250?
Technical analysts note that $ETH has exited the upward channel. The potential target is $1,250 if support does not hold.
Conclusion
New tariffs, hacks, and analytics create a complicated week for $BTC and altcoins. But the market always finds balance. Will the crypto summit on March 7 be a turning point? Share your thoughts in the comments — let's figure it out together!
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