50 countries participating in customs tariff negotiations, U.S. official suggests easing rhetoric
According to Block Bates, director of the U.S. National Economic Council, Hasit noted that more than 50 countries are currently involved in negotiations regarding customs tariffs. He suggested that it is time to moderately ease the rhetoric surrounding customs tariffs $BTC $ETH $SOL #TrumpTariffs #newscrypto
**"Market Reversal Warning: Funding Rates Drop to Levels Indicating Trader Pessimism"**
According to BlockBeats, data from Coinglass indicates that current funding rates in major centralized and decentralized exchanges suggest a bearish trend in the cryptocurrency market. The accompanying charts illustrate the funding rates for major cryptocurrencies. Funding rates are fees set by cryptocurrency trading platforms to maintain a balance between contract prices and the prices of underlying assets, and they are typically applied to perpetual contracts. This mechanism facilitates the exchange of funds between traders taking long and short positions, without the platform collecting these fees. It aims to adjust the cost or profit of holding contracts, ensuring that contract prices remain close to the prices of the underlying assets.
As of now in March 2024, Elon Musk has faced significant losses in his wealth due to the decline in stock prices of his companies, especially **Tesla** and **X (formerly Twitter)**.
### **Main Reasons for the Losses:** 1. **Decline in Tesla Stock**: - Tesla stock (TSLA) decreased by about **~12%** in March (as of March 29, 2024). - Since the beginning of 2024, the stock has lost more than **~30%** due to concerns over demand for electric vehicles and increasing competition.
The Federal Reserve is likely to keep interest rates unchanged in May
According to "BlockBeats", CME's "FedWatch" tool indicates an 87.8% chance that the Federal Reserve will keep interest rates unchanged in May. Meanwhile, the probability of a 25 basis point rate cut is 12.2%. $BTC $ETH $BNB
**"US Consumer Fatigue Threatens New Pressure on Stock Markets and Sharp Declines"**
According to Odaily, UBS Investment Bank Chief Strategist Bhanu Bhuja noted that a "clearly fatigued" US consumer is likely to exert further pressure on stock prices, potentially leading to an 8% decline in the S&P 500. Bhuja highlighted warning signs from various indicators, including employment forecasts, spending expectations, and consumer confidence. As analysts revise earnings forecasts for the next three to four months, he expects the S&P 500 to fall to a low of 5,300. $SOL $XRP $TRUMP
"The Federal Reserve Overcomes Loss Crisis as Prices Decline.. and Morgan Stanley Expects Profit Return"
According to BlockBeats reports, analysts at Morgan Stanley stated that the U.S. Federal Reserve (Fed) is nearing the end of its historical loss streak and may soon resume returning funds to the U.S. Treasury. This development is related to the Federal Reserve's financial operations and its payments to maintain control of short-term interest rates. The sharp increases in interest rates that began three years ago led to significant losses for the Federal Reserve, but with the recent decline in short-term interest rates, Morgan Stanley suggests that the Fed is approaching a critical point for profitability.
According to Odaily, data from Token Terminal reveals that BlackRock's BUIDL Fund has invested over one billion dollars in the Ethereum blockchain, currently reaching around 1.145 billion dollars. The BUIDL Fund focuses on distinguished real-world assets (RWA) and distributes its investments across chains such as Avalanche, Polygon, Aptos, Arbitrum, and Optimism, while Ethereum remains the primary focus for asset distribution.
Additionally, Nansen's analysis indicates a significant increase in Ethereum holdings since March 12, 2024. The addresses holding between 1,000 and 10,000 ETH increased by 5.65%, while those holding between 10,000 and 100,000 ETH rose by 28.73%. #News#FedRates #Ethereum✅