The crypto market plummeted completely on March 4 and started again. BTC fell sharply from its high of $95,000 to below $83,000, a 24-hour decline of 10.49%. The counterfeit market is even more bloody, with ETH falling below 2100, with a 24-hour decline of 16.83%, hitting a recent low. After the market was finished, the cow returned and washed his face again. The long and short double kills were extremely fierce.

"Multi-currency reserves" test the seriousness of BTC strategic reserves

The day before, amid the general market downturn, Trump issued a major statement, announcing the inclusion of cryptocurrencies such as BTC, ETH, XRP, SOL, ADA and other cryptocurrencies in the US strategic reserves, and promised to promote regulatory relaxation. As soon as the news came out, the price of Bitcoin soared from $85,000 to $95,000 in just 3 hours, and the altcoin also started a full-scale surge.

However, after the excitement, doubts arose. Arthur Hayes, the bearish representative, said bluntly that Trump was just talking and had no money to buy coins. The broader criticism focuses on the idea of ​​"multi-currency reserves". Questioning the absurd practice of highly centralized projects such as ADA and XRP can be used as reserve assets to promote, which will only weaken the seriousness of BTC strategic reserves itself and further reduce the possibility of BTC reserve bill passing at the federal level.

Some analysts also believe that Trump is playing the old routine of "opening high and closing low": first throw out the radical "multi-currency reserve" idea, and finally return the "bitcoin single-currency reserve" as a compromise plan to win the support of Congress.

No matter what the truth is, it reveals that the current market differences are increasing. The gap between expectations for Trump and reality has led to investors' sentiment in the industry still being negative, and Bitcoin surged and fell, and then began to fluctuate and decline.

Tariff stick breaks fantasy beyond expectations

Trump's recent tariffs on Canada and Mexico have always been the focus of market attention. Just last week, Trump was still vague and inconsistent about the time when the tariffs were imposed. The outside world believed that this was a negotiation strategy and a new agreement would eventually be reached at the last moment, but this hope was officially shattered.

On Monday, Trump announced that he would impose tariffs on Mexico and Canada starting from March 4, andIt is clearly stated that there is no room for negotiation and negotiation. In addition, tariffs on goods will be raised to 20%, and "reciprocal tariffs" will be imposed on the EU, Japan, South Korea and other countries from April 2. This tough attitude has exceeded market expectations. Canada and Canada announced on the same day that it would take a series of countermeasures, and Mexico also hinted at the adoption of confrontational measures and the tariff war was fully launched.

China, Canada and Mexico account for 40% of the total import and export volume of the United States. The additional tariffs will push up the prices of imported goods. The additional tariffs will undoubtedly push up the prices of imported goods and exacerbate the inflationary pressure in the United States. Even Buffett, who has always been cautious, has rarely spoken out, warning that tariffs are "to some extent an act of war" that may push up inflation and harm consumer interests. At the same time, signs of slowing US economic growth are becoming increasingly obvious. The GDPNow model of the Atlanta Fed US GDPNow shows that US GDP will shrink by 2.8% in the first quarter, and was previously expected to shrink by 1.5%. Market worries about the US falling into "stagflation" are heating up, which suppresses assets relying on liquidity and risk appetite.

For the first time, the three major U.S. stock indexes closed down collectively on Monday, with the Dow Jones Industrial Average falling 1.48%, and the S&P 500 falling 1.76%, the biggest drop of the year. The Nasdaq fell 2.64%, smearing the gains since the November election. Technology stocks led the decline, with Nvidia plummeting 8.69%, the lowest closing price since September 2024. Since the approval of the spot Bitcoin ETF, the crypto market and US stock market have become extremely correlated. The turmoil in the traditional market has quickly spread to the crypto market and has been amplified, and cryptocurrencies have fallen sharply again. If U.S. stocks continue to weaken, the crypto market may face greater adjustment pressure.

Any positive may become a catalyst for long and short double killing

When market sentiment is sluggish, investors hope to hold the first White House Cryptocurrency Summit on March 7, when Trump will convene industry leaders to discuss regulation, stablecoin regulation and the potential role of Bitcoin in the US financial system, which may set the tone for cryptocurrency regulation in the next four years. The market is eager for more substantial things to be introduced at the conference to boost market confidence and drive price increases.

However, against the backdrop of the current macroeconomic environment headwinds, continuous loss of institutional funds, and exhaustion of retail buying momentum, the market's response to the news has become extreme. The crypto summit may bring new sparks, but investors need to be wary of any positive news that may become a catalyst for long and short double kills.

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