As of March 27, 2025, the over-the-counter (OTC) trading landscape has experienced notable developments across various asset classes.
Cryptocurrency Market:
Bitcoin (BTC): BTC has been trading within the $77,000 to $90,000 range. Following an initial surge due to the Federal Reserve's reduction in quantitative tightening measures, BTC faced resistance around the $88,500 mark, leading to a decline from $87,000 to $83,600. Currently, BTC is on an upward trajectory within its channel, but signs of weakening bullish momentum are evident. The market remains cautious ahead of the U.S. government's reciprocal tariffs, effective April 2.
Sui (SUI): SUI, a layer-1 blockchain utilizing the Move smart contract language, recently saw a 10.3% increase. This surge was driven by news of Canary Capital's application to launch a spot crypto ETF for Sui.
Equities and Commodities:
Automobile Tariffs: President Donald Trump announced a 25% import tax on all foreign-made cars and auto parts not compliant with the U.S.-Mexico-Canada Agreement (USMCA), effective April 3. This policy has raised concerns about higher car prices, leading to a decline in stocks of global automakers, including General Motors, Ford, and Stellantis.
Gold Prices: In response to market volatility and increased demand from central banks and ETFs, Goldman Sachs raised its year-end gold price forecast to $3,300 per ounce.
Market Volatility:
Options Expiry: The expiration of quarterly options for Bitcoin and Ethereum is contributing to increased market volatility. Over $14 billion in BTC and ETH options are set to expire, with maximum pain points identified at $85,000 for BTC and $2,400 for ETH. This has led to elevated implied volatility, particularly in BTC call options.
