Compiled: Tao Zhu, Golden Finance

For the crypto market, this is an uneasy Spring Festival: Trump launched a tariff war, causing the crypto market to plummet; Deepseek released, and the market responded violently ; El Salvador cancels Bitcoin’s official currency status; the Federal Reserve continues to maintain its decision not to cut interest rates...

Golden Finance compiles the top ten crypto news that happened during the Spring Festival to take you to review this unforgettable Spring Festival.

1. Trump starts a tariff war Trump vs Canada and Mexico

On January 31, local time, White House spokesman Caroline Levitt said at a briefing that he would confirm that he would go from 2 Starting from the 1st of the month, a 25% tariff will be imposed on Mexican and Canadian goods. On January 30, local time, US President Trump stated that he plans to fulfill his commitment to 25%of tariffs on goods imported from Mexico and Canada on February 1.

Trump also posted on the "Truth Social" platform that if Canada becomes the 51st state in the United States, it will be "exempt tariffs!" The president wrote: "So, Canada should be us The 51st state of cherished. Canadians will enjoy much lower taxes, get much better military protection, and – exempt from tariffs! ”

In response, Canadian Prime Minister Trudeau in the news Canada will impose 25% tariffs on US goods worth 155 billion, including immediate tariffs on CAD 30 billion starting Tuesday, and will 21 days on US dollars worth 125 billion US dollars in 21 days Further tariffs are imposed on products.

Trump VS

At around 8 pm Eastern Time on February 1, the White House issued a list of facts, announcing an additional 10% tariff on products imported from the United States on the grounds of fentanyl and other issues.

China is strongly dissatisfied with this and firmly opposes it. The US unilateral plus tariffs seriously violate the rules of the WTO, which is not only conducive to solving its own problems, but also causes damage to normal economic and trade cooperation between China and the United States. Regarding the wrong approach of the United States, China will filed a lawsuit with the WTO and will adopt corresponding countermeasures to firmly safeguard their rights and interests.

On February 4, the Tariff Commission of the Court issued an announcement: With the approval of the Court, tariffs will be imposed on some imported goods originating in the United States starting from February 10, 2025. A 15%tariffs are imposed on coal and liquefied natural gas, and 10%tariffs are imposed on crude oil, agricultural machinery, large -displacement cars, and pickups.

Trump VS EU

On February 2 local time, US President Trump said that he "definitely" would impose new tariffs on the EU. He once again complained that the United States had a trade deficit with the European Union and believed that the EU was insufficient to import US and agricultural products. Trump did not specify tariff levels or timetables. "I won't say that there is a time watch, but it will be there soon," he said to the media.

In response, the EU said that if the United States imposes tariffs on the EU, the EU will "resolutely respond", which is the latest manifestation of dissatisfaction with President Trump's trade, theseThe impact is spreading around the world. The use of tariffs is "harmful to all parties", and the European Union regrets Trump's decision to regret tariffs on Canada, Mexico and levying tariffs.

In addition, Trump said that the United States will impose tariffs on imported goods such as computer chips, medicines, steel, aluminum, copper, oil and natural gas as soon as mid-February.

But on February 3, Trump temporarily put down the tariff stick.

Canadian Prime Minister Trudeau said after speaking with US President Trump that the United States will suspend imposing tariffs on Canada for at least 30 days. Earlier on February 3, local time, Trump talked to Mexican President Synthoma. Both of them announced after calling that the United States and Mexico agreed to immediately implement the measures to impose tariffs for one month and continue to negotiate.

2. "Tariff War" shocked the market

After the news that the United States will impose 25% tariffs on Canada and Mexico, the US dollar index DXY rebounded by up to 69 points from the day-low to 108.48, and the US dollar against the Canadian dollar USD/ CAD erased the previous decline during the day and turned to rise again. Spot gold once fell to $2795.34 per ounce. Bitcoin fell below $ 103,000 per day, down 1.67%within the day. The declines of the US and Blanc oil intraday narrowed to close to flat, at $72.89 per barrel and $77.02 per barrel respectively.

The crypto market has been falling since then, and by February 3, BTC fell to around $92,876.12, the lowest level in more than two weeks, down 12.29% from $105,893 on January 30 Essence The ETH market was even worse, falling to $2460.55, down nearly $1,000 from $3422 on February 1, a drop of 28.10%.

The selling of altcoins is even more intense. DOGE recorded a new low of $0.2237, down 34% from $0.3398 on January 1. Altcoins such as XRP, ADA, AVAX and LINK all fell by more than 10%.

The Japanese and Korean financial markets also suffered a heavy blow: the South Korean KOSPI index closed down 64.04 points, or 2.54%, to 2453.33 points on February 3rd (Monday). The Nikkei 225 index fell 1052.40 points on February 3, a decrease of 2.66%to 38520.09 points. Affected by the US tariff order, the yield on 10-year new treasury bonds, the main indicator of long-term interest rates, once rose to 1.260%, the highest since April 2011.

Many institutions or industry insiders expressed their opinions on this:

Former U.S. Treasury Secretary Larry Summers said in an interview that Trump's Tariffs violate the economic logic. This means that consumers have higher prices and the investment costs of American manufacturers are much higher. Summers questioned: Why is this in the worldIn many, we now decide to launch an economic war against Canada? The minimum wages and basic wages in Canada are higher, and the protection of workers in trade unions is more than the United States. I just don't understand the logic of these. There is no doubt that this is a refund of taxes for American consumers.

Citi said that we believe that further tariff escalation will lead to bullish gold within 6-12 months, with gold prices rising to $3,000 per ounce; at the same time, silver will rise to $36 per ounce; we also Bearish copper prices will fall to $8,500 per ton in the next three months.

JPMorgan said it has short-term bearish on base metals due to U.S. tariffs and strengthened its bullish gold view. London Metal Exchange (LME) cheap metal prices may have recently faced severe pressure on the pressure, due to economic growth, fading macro risks, and strong US dollars.

JP Morgan analyst Eric Beinstein and Nathaniel Rosenbaum said that unless high tariffs are imposed on the EU or economic conditions force the Fed to raise interest rates, Trump's tariffs are unlikely to risk investment-grade credit. Or interest rate spreads have a significant impact.

Rich Dad Poor Daddy Author Robert Kiyosaki tweeted that as Trump's new tariffs take effect, gold, silver, and Bitcoin may collapse. But after the price collapse, it can also bring more opportunities to buy. The real problem is debt, which only gets worse.

BTC Markets CEO Caroline Bowler said: "Trump's tariffs are affecting the entire market, and concerns about a trade war and stagflation triggering recession are spreading to the altcoin and Bitcoin markets."

Jeff Park, Strategy Director at Bitwise Alpha, said tariffs may be just a temporary tool, but the long-term conclusion is that Bitcoin will not only go higher, but will go faster, because both sides in the equation of trade imbalance want to For Bitcoin, the end result is the same: higher prices and faster.

Petr Kozyakov, chief executive officer of the encrypted payment platform, pointed out that after Trump announced its tariffs on Friday, the cryptocurrency market set off a wave of FUD, and the prospect of long -term interest rate hike shaking all the global markets. Although Bitcoin has fallen below the $ 100,000 mark, the King of cryptocurrencies once again proves that he is unique and compared with the cottage that has fallen across the board. Bitcoin fell overnight to a slightly higher than $ 91,000, a minimum of nearly 10%, and then rebounded to about $ 95,000. Other major cryptocurrencies fell more, with Ethereum down about 20%, and Solana seemed to perform better relative to Ethereum, down just 6%.

3.Deepseek released, shocking the technology and crypto market

On January 27, Deepseek becameApple ranked first in the APPStore in the US, surpassing ChatGPT. DeepSeek has performed well recently. With its low-price strategy and excellent performance of RMB 0.1 per million token, DeepSeek has attracted the attention of technology giants including Meta.

On Monday, January 27, Eastern Time, DeepSeek triggered a sharp drop in AI concept stocks, and the market value of European and American technology stocks evaporated by US$1.2 trillion. European and American chip manufacturers and the entire industry that powers AI and data centers Chain companies all fell. Among them, Nvidia closed down 16.97%, and its market value evaporated by US$592.658 billion (approximately RMB 4.3 trillion) in one trading day, the largest scale in the history of US stocks.

The competitive AI model released by DeepSeek has caused market concerns about its threat to the US's technological leadership, and Japanese chip stocks have fallen sharply. NVIDIA supplier Advantest fell 8.2%, Disco Corp fell 2.9%, SoftBank Group fell 5.4%, data center cable manufacturers Furukawa Electric and Fujikura LTD fell more than 8%. Market insiders pointed out that the huge investment returns of large technology companies in the AI ​​field are doubtful, and DeepSeek may be a key factor in triggering a pullback in technology stocks.

The crypto market also responded sharply.

According to GMGN market, on January 27, the market value of the meme coin of the same name of DeepSeek was US$40 million, with a price of 0.0376USDT, an increase of 70% in one hour. On January 28, the AI ​​project VVV based on DeepSeek rose to above $17, with a 24-hour increase of 103.7%.

Other tokens are obviously not so lucky, especially AI -related tokens have been greatly affected. The total market value of cryptocurrencies in the field of artificial intelligence was severely damaged, from $ 47.54 billion in January 26 to $ 10%to $ 42.50 billion. The transaction volume increased by more than 42%within 24 hours to reach 3.55 billion US dollars, which enhanced the intensity of the seller's pressure. In addition, the cryptocurrency market is sluggish, accompanied by a wave of leverage liquidation. Leverage allows traders to borrow funds to increase trading positions, thereby amplifying potential gains and losses. The latest data shows that the crypto market has liquidated nearly US$860 million in the past 24 hours, of which US$794 million is long liquidation. The $ 260 million Bitcoin multi -headed position has been liquidated.

U.S. President Trump said at a Republican meeting in Miami, Florida that the rise of artificial intelligence startup DeepSeek should sound a "warning bell" for American companies, and that American companies "need to focus on competition to win "

NVDA.O (NVDA.O) calls Deepseek as" outstanding artificial intelligence progress ". A heroic spokesman said that DeepSeek's work shows how to use widely available modelsand limited computing power to create new models.

Ejaaz Ahamadeen, a global digital asset architect at Ethereum developer ConsenSys, posted on X: "DeepSeek just accelerates all timelines. We have accepted the 'fact' before that the construction of these products will cost $100 billion, it will be closed source, meaning a monopoly. DeepSeek then surpassed all leading models at a very low cost and opened the technology, and now any AI builder can access this most powerful one Model. Why no one talks about how we will see 'better proxy'? Fat application theory becomes more realistic. This is great for open source AI."

The founder of Black Myth Wukong DeepSeek: It may be a scientific and technological achievement at the national level.

Shaw, founder of ai16z, posted a comment on big models such as Deep Seek. He pointed out that the AI ​​field is undergoing an open source revolution, from Google, OpenAI, Claude to today's DeepSeek, major AI laboratories have continuously made breakthroughs in benchmarking and capabilities. Shaw particularly emphasizes that open source models like DeepSeek are a major benefit to the industry as it can help developers scale AI applications to millions of users at a lower cost. As AI models gradually become commercialized, this technology is moving towards free, open source and running at zero cost on home computers.

Nirgunan Tiruchelvam, head of consumer and internet at Aletheia Capital, said DeepSeek products seriously violate the argument that Silicon Valley invests huge capital and operating expenses as the most appropriate way to deal with the AI ​​trend. It creates doubts about the huge amount of resources invested in artificial intelligence.

Anthropic co-founder Jack Clark said DeepSeek's progress has challenged people's perception that the West is at a significant lead in the field of artificial intelligence.

4. The encrypted Tsar David or changes the encryption industry.

Recently, the encrypted Tsar is very active and made a lot of remarks for the good encryption industry:

At the press conference opened at 3:30, it reiterated its work goals such as "clear encryption regulatory framework", "ensure that encrypted innovation occurred in the United States", and "the golden age of digital assets" and other work goals, but did not announce new ones content.

Crypto Tsar David Sacks also said that the feasibility of Bitcoin reserves is being studied. He sees NFTs and Memecoins as "collections" rather than securities or commodities. Compared with securities and goods, collectibles have different tax procedures.

David Sacks on TV at Fox NewsDuring the talk show, when asked when the United States will announce its strategic Bitcoin reserves, David Sacks said: "Trump has asked us to study this issue, which is one of the things we are currently looking at." He also praised Donald- President Trump's executive order on cryptocurrency. The order is designed to clarify regulations, define digital assets, and strengthen the dominance of the dollar through stablecoins. According to Sacks, the newly formed digital assets task force will oversee regulatory developments. It will divide digital assets into categories such as securities, commodities and collectibles. It also seek to expand the use of stablecoins and believe that it can promote the demand for US Treasury bonds. Sacks believes that this strategy can support government bonds and reduce long -term interest rates.

5. El Salvador abolished Bitcoin's status as official currency

On February 2, the ruling party's Parliament just quietly approved the reform of the Bitcoin law, which made Bitcoin the official currency Use becoming invalid, and the user is determined by itself. The reform came after nearly two years of pressure from the International Monetary Fund (IMF), which set a condition to “reduce the risk of Bitcoin” in exchange for Kenyan President Naibu Bukel ( NAYIB Bukele) approves a $ 1.4 billion loan that urgently needs. If Salvador wants to receive the money, it must amend the law before the last day of January. The law was implemented for more than three years, and the representatives amended six of the clauses and abolished three of the sixteen clauses. From now on, Bitcoin will no longer be regarded as "currency"; its acceptance changes from mandatory to voluntary, and will not be used for taxation.

As of February 3, Salvador held 6,056.18 BTCs, about $ 586 million.

6. Trump signed an administrative order in order to establish a sovereign wealth fund. The White House stated that the command instructed the Ministry of Finance and the Ministry of Commerce to start reviewing the establishment of the sovereign wealth fund.

US Finance Secretary Barst said: "We will start this issue within the next 12 months. We will realize the realization of assets on the US asset liabilities for the American people." He mentioned They plan to study the "best practice" of other funds, and the fund will hold a series of mobile assets and other US assets. Trump mentioned this idea many times during the campaign. He called for a fund that "invests in great causes for all the interests of all American people", such as infrastructure construction and medical research.

It is not clear at this time that the source of funds for the US sovereign wealth fund is funded. Most sovereign wealth funds are composed of surplus income generated by natural resources, such as the wealthy country in Saudi Arabia. However, the United States is facing major budgets and trade deficits. At the same time, the United States also has a powerful private market, which allows investors to support multiple initiatives that the new funds that Trump mentioned in hopes to invest.

TrumpIt also said that the fund may acquire TikTok. After signing the administrative order of establishing sovereignty wealth funds, Trump said in his speech, "We will use it to do something, it may be to acquire Tiktok, or we may not acquire ... We will do this, if not, we will not do this ... We may include this transaction into the sovereign wealth fund, or it may cooperate with those very rich people. Senator Cynthia Lummis mentioned Bitcoin in response to the news, and she posted on X that “it’s a big deal” and used the symbol of Bitcoin, which excited cryptocurrency enthusiasts. It is not clear how to build and fund the US sovereign wealth fund. According to the New York Times and the Financial Times, Biden also considered setting up such a fund before Trump was elected in November.

Flexa CEO Danny McCabe pointed out: "Given that the United States has clearly supported digital assets, the sovereign wealth fund is likely to include Bitcoin, and even other" Made in the United States "with real economic utility Inclusion of assets, such as Ethereum, will not only provide greater stability to the U.S. economy, but will also be a big leap to make the U.S. a leader in digital assets.”

Omni Network Co-founded Austin King said Trump's establishment of a sovereign wealth fund could be an alternative to acquire Bitcoin without a bureaucracy.

7. The Federal Reserve's resolution issued: No interest rate cuts

On January 30, the US Federal Reserve announced that it would maintain the target range of the federal funds rate between 4.25% and 4.5%, and continue to implement the reduction at the original pace. The Federal Reserve's decision meets general market expectations.

On February 4th, the Fed of Collins said that the Fed should be patient and cautious, and there is no need to rush to adjust interest rates. At present, there is no urgency of cutting interest rates again. The Fed should be patient and cautious, and it is not necessary to be urgent to adjust interest rates. At some point in the future, it is expected that interest rates will be further normalized.

Trump said that the Fed's decision to maintain interest rates last week "is correct in the current situation."

Federal Bostic: Be prepared to wait for a period of time before cutting interest rates.

Morgan Stanley economists said that they no longer expect the Federal Reserve to cut interest rates in March, and now expect a rate cut in June this year. Trump imposes tariffs faster than we expected, which could mean that inflationary declines will stagnate at higher inflation levels, blocking the possibility of any recent rate cuts.

The release of Galaxy Securities shows that comprehensive consideration of the performance of the US economy at the end of 2024 and the current economic data, the US economy shows a certain growth momentum and toughness. Since taking office on January 20, Trump has quickly signed aSeries of executive orders. Its style emphasizes protectionism and economicism, but it often bypass Congress to promote the agenda through administrative orders, so it also faces many and legal resistance during its execution process. Taking these factors into account, it is expected that the Federal Reserve will adopt a more cautious interest rate cut in 2025, with the annual rate cut between 0.25% and 0.50%.

Traders cut bets on the Fed's interest rate cuts and now expects the possibility of two rate cuts in 2025 to be 50%.

According to CME's Fed's observation data, the probability of the Fed's 25 basis points cut rate in March is 17%, and the probability of remaining unchanged is 83%.

8. Progress of Litecoin and Dogecoin ETFs

On January 24, CoinShares submitted a registration statement for the "CoinShares Litecoin ETF". In addition, the New York Stock Exchange (NYSE) submitted 19B-4 files of "GrayScale Litecoin Trust" on behalf of GrayScale, which includes the clauses that convert the trust into spot ETF.

On January 30, the U.S. Securities and Exchange Commission has endorsed Canary Capital’s 19b-4 filing for its spot Litecoin ETF.

On February 5th, the Litecoin official posts said that NYSE has already submitted a 19B-4 file for the 19B-4 document of the Gray ETF (GrayScale's Litecoin ETF) to the United States SEC to seek it ) Trust is converted to spot ETF.

On January 29, Bitwise submitted an application to the U.S. Securities and Exchange Commission (SEC) to list an exchange-traded fund (ETF) that tracks Dogecoin prices. According to the S-1 filed by Bitwise to the U.S. SEC on January 28, the proposed Bitwise Dogecoin ETF will hold DOGE and closely track its price trends.

9. MicroStrategy suspends buying coins

MicroStrategy did not sell any Class A common shares under the stock issuance plan from January 27 to February 2, nor did it buy any Bitcoin. As of February 2, the company held about 471,107 Bitcoin and the total purchase price was $ 30.4 billion.

Since its recent inclusion in the Nasdaq 100, MicroStrategy has been subject to various rules and regulations, such as a lock-up period, to prevent potential insider trading, which may be its continuous increase in bits. One reason why the currency is suppressed. In addition, some people have speculated that the choice of suspending the holding of Bitcoin is because Microslategy is changing its strategy according to market conditions. The company may face huge taxes that have not achieved Bitcoin income. obligation. However, analysis believes thatThere are few signs that MicroStrategy is abandoning its Bitcoin-centric strategy.

BlackRock, MicroStrategies and Fidelity have purchased a total of approximately $94 billion worth of Bitcoin in 2024, according to data from data platform Arkham Intelligence. Specifically, BlackRock, the world's largest asset management company, bought $50 billion, while MicroStrategics successfully amassed $24 billion worth of BTC. Fidelity is at the last place after acquiring $20 billion worth of BTC.

10. Binance’s “Best Friend Rumor”

On February 2, 2024, the first anonymous report letter was widely circulated on the Internet. The letter described in detail the possible misconducts of Dana, the head of the investment department of Binance Laboratory, He Yi's "best friend" Dovey and others, including manipulating the price of currency, soliciting bribes for currency, colluding with overseas leeks to cut off leeks.

Several key figures mentioned in the letter report, such as Dana, Duowei, etc., were accused of using their positions to participate in improper interest exchanges and project operations. If true, these allegations will undoubtedly cause significant damage to Binance's symbolism and trust.

In response to the surging doubts, He Yi posted a long article on social media of "reasoning and caution" and responded in detail to the rumors. She emphasized:

1. Independent operation and firewall mechanism: He Yi pointed out that Binance Labs has been renamed Yzi Labs, independently operated, and is under the responsibility of Ella Zhang. There is a strict firewall mechanism between Binance and Labs, and listing coins and investment decisions are independent of each other.

2. Welcome to supervision and reporting: She once again emphasized Binance's zero tolerance for bribery and misconduct, publicly supported any reports of employees' bribery or misconduct, and stated that the reward reporting will always be valid.

3. Clarification of the rumors of "best friend": He Yi admitted that there was an improper profit in her name in the market, but she had no special relationship with the characters mentioned in the rumors. Regarding the statement "He Yi's best friend", anyone is welcome to establish contact with Binance or the laboratory through normal channels.