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One crypto analyst suggests that Bitcoin long positions may "become viable" once the long-term seller supply increases again.
Bitcoin dropped by 9.7% and ether declined by 14.7% as Trump initiated a trade war with tariffs on Canadian and Mexican imports coming into effect on Tuesday. An analyst stated that Trump's stringent tariff measures have "further fueled risk-off sentiment."
President Trump's announcement regarding a U.S. Crypto Strategic Reserve sent prices soaring across the crypto industry, boosting the total industry market cap by nearly 20% since its recent lows on Friday. Cardano, XRP, Trump's memecoin, and Solana were the best performing coins over the past 24 hours; BNB rose the least out of the top 10 cryptocurrencies by market cap.
US spot bitcoin ETFs experienced a total daily net outflow of $1 billion, excluding flow data from Ark Invest’s ARKB. During their six-day streak of negative flows, these ETFs saw over $2 billion withdrawn from the products. Analysts suggested that the rebalancing of institutional investors’ positions in the ETFs might have contributed to the record-high outflows.
The sentiment in the crypto market plummeted to "Extreme Fear" following US President Donald Trump's announcement that 25% tariffs against Canada and Mexico are proceeding as planned.
Bitcoin traders are concerned about a return to the lower end of the BTC price range as market inertia allows bears to maintain control approaching the monthly close.
Bitcoin is finally exhibiting behaviour similar to stocks and gold, approaching near all-time highs as BTC price action resumes.
Bitcoin is mirroring gold's price growth path, increasing the likelihood of achieving price targets exceeding $300,000.
World Liberty Financial utilised its USDC reserves to acquire $1.4 million in MOVE and $5 million in wrapped BTC. Additionally, it staked 2,221 ETH with Lido Finance and deposited 5 million USDC into Aave’s lending protocol.
- 19:08Data: 127,900 SOL transferred from an anonymous address, worth approximately $17.49 millionAccording to ChainCatcher, Arkham data shows that at 02:47 and 02:48, 127,900 SOL (with a total value of approximately $17.49 million) were transferred from an anonymous address (starting with FKp1tE...) to two different anonymous addresses. 1. 73,090 SOL (worth about $9.9973 million) were transferred to an anonymous address (starting with DYKLk...).2. 54,777.65 SOL (worth about $7.4925 million) were transferred to an anonymous address (starting with BG7tW...).
- 18:34JPMorgan: The US dollar is expected to weaken by 2026, but the risk of Fed rate hikes may challenge this viewJinse Finance reported that JPMorgan's currency strategist team, led by Meera Chandan and Arindam Sandilya, had previously predicted that the US dollar would strengthen after Trump took office as president this year. However, as the dollar posted its worst first-half performance in 50 years, the team had to quickly adjust its outlook. The team's view on the dollar turned negative in March and has remained so ever since. Strategists now expect the dollar to decline by about 3% by mid-2026, then stabilize. However, analysts point out that several major factors complicate the bank's bearish outlook. Firstly, despite the recent rate cuts by the Federal Reserve, US interest rates remain higher than those of many other global central banks. They stated that this makes global investors more inclined to keep their funds in the US and limits the appeal of diversifying into assets outside the US. More broadly, JPMorgan is concerned that a rebound in the US job market or growth expectations could prompt traders not only to rule out the possibility of rate cuts next year but also to increasingly bet on potential rate hikes. "We remain net bearish on the dollar in 2026, although the magnitude and breadth are both less than in 2025," Chandan and her colleagues wrote.
- 17:32A certain whale has opened a 3x leveraged long position on MON and is now floating a profit of over $2 million.According to Jinse Finance, Onchain Lens monitoring shows that as the price of MON rises, a whale's previously opened 3x leveraged MON long position has now generated an unrealized profit of over $2 million. In addition, this whale also holds 3x leveraged long positions in HYPE and ZEC.