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Crypto News

Bitcoin Drops Below $84,000 with a 9.55% Decrease in 24 Hours

Bitcoin has dropped below $84,000 and is now trading at $83,962, with a narrowed 9.55% decrease in 24 hours.

Crypto Prices Sink on Trump Reserve Skepticism, Tariff Concerns

Euphoria in digital-asset markets stemming from Donald Trump’s plans for a strategic crypto reserve turned to skepticism on Monday, triggering early losses in cryptocurrencies that worsened throughout the day as investors braced for the US to impose 25% tariffs on Mexico and Canada.

Trump said Sunday on Truth Social that the XRP, SOL and ADA tokens will be included in the reserve, along with Bitcoin and Ether. The news ignited an immediate crypto rally, offering relief to an asset class fresh off its worst month since 2022. Yet the inclusion of the three lesser-known digital tokens was later met with questions from investors about the project’s merits.

All of the cryptocurrencies that Trump said would be included in the reserve posted sharp declines by late afternoon in New York amid a broad retreat in risk assets that dragged the tech-stock-heavy Nasdaq 100 Index down more than 2%. Most of Sunday’s gains in the tokens were wiped out.

Trump Administration To Announce Zero Capital Gains Tax On Cryptocurrency Sales

Mike Alfred, founder of digital asset investment platform Eaglebrook Advisors, shared on the X platform that the Trump administration is reportedly set to announce a zero capital gains tax policy on cryptocurrency sales at the upcoming cryptocurrency summit on Friday. This policy would mean that sales of cryptocurrencies would be exempt from capital gains tax.

Dalio Warns of US Debt Crisis ‘Heart Attack’ Within Three Years

Ray Dalio, the billionaire founder of hedge fund Bridgewater Associates, has a warning for the Trump administration: commit right now to reducing the deficit or risk a major debt crisis within three years.

“If you don’t do it, you’re going to be in trouble,” Dalio said in an interview on the Odd Lots podcast. “I can’t tell you exactly when it’ll come, it’s like the heart attack,” he added. “You’re getting closer. My guess would be three years, give or take a year, something like that.”

Dalio’s warning comes as Trump’s team is grappling with the twin goals of maintaining large tax breaks while also reducing an annual deficit that most recently reached $1.8 trillion. It also comes as Dalio promotes his latest book How Countries Go Broke, in which he explains how debt cycles work and advocates for an immediate commitment to cut the US deficit to 3% of GDP.

Crypto ETFs Set to Trump Precious Metal Peers, Says State Street

Surging demand for cryptocurrency exchange traded funds will push their combined assets above those of precious metal ETFs in North America by the end of the year, according to forecasts by State Street, the world’s largest ETF servicer by assets.

Such a move would install digital token ETFs as the third-largest asset class in the rapidly growing $15tn ETF industry, behind only equities and bonds and ahead of real estate, alternative and multi-asset funds.

“We have been very surprised by the speed of growth of crypto. I expected there to be pent up demand, but I didn’t expect it to be as strong as it was,” said Frank Koudelka, global head of ETF solutions at State Street, who foresaw further rapid growth his year.

El Salvador Increases Bitcoin Holdings to Over 6,100 BTC

According to Foresight News, data from Bitcoin.gob reveals that El Salvador has increased its Bitcoin holdings by acquiring an additional five BTC. This acquisition brings the country's total Bitcoin reserves to approximately 6,100.18 BTC. The current market value of these holdings is estimated to be around $507,614,541.

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Wednesday was -$74.19 million. The total net asset value of Bitcoin spot ETFs is $97.26 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.70%.

The Bitcoin spot ETF with the highest net inflow on March. 3 was ARK 21Shares Bitcoin ETF, with a net inflow of $58.18 million. While the highest net outflow was iShares Bitcoin Trust (IBIT), with a net outflow of 77.97 million, according to SoSoValue.