Risk sentiment took a hit during the European trading hours on Friday as China retaliated with tariffs on all goods in response to Trump’s decision to increase tariffs on Chinese goods...
Risk sentiment took a hit during the European trading hours on Friday as China retaliated with tariffs on all goods in response to Trump’s decision to increase tariffs on Chinese goods to 54% earlier in the week. As a result, Bitcoin, the top cryptocurrency by market value, dropped by $1,600 to $83,000, wiping out its earlier gains to $84,600. Other cryptocurrencies like XRP, ETH, SOL, and DOGE also gave up their early advances to trade mostly flat for the day.
Additionally, S&P 500 and Nasdaq futures plunged more than 2% as global trade tensions continued to escalate. “China’s retaliation is not only a blow to the U.S. but also has broader implications for the global economy,” commented ForexLive analyst Justin Low in a recent market update.
Bitcoin (BTC) made steady progress towards $85,000 during European trading hours on Tuesday, with traders eagerly anticipating the impact of U.S. tariffs set for Wednesday. Leading the way with modest gains...
Bitcoin (BTC) made steady progress towards $85,000 during European trading hours on Tuesday, with traders eagerly anticipating the impact of U.S. tariffs set for Wednesday.
Leading the way with modest gains among major cryptocurrencies, Dogecoin (DOGE) and Cardano (ADA) saw an increase of over 7%, while others like ether (ETH), XRP, Solana’s SOL, and BNB Chain’s BNB rose nearly 5%.
According to CoinGecko data, the overall market capitalization saw a 3% decrease, with the CoinDesk 20 also experiencing a 3% bump in the last 24 hours.
The current market sentiment is largely risk-averse, as U.S. equities faced a downturn last week, with the S&P 500 recording a 3% decline, the worst since September 2023. This prompted investors to flock to safe-haven assets like gold, which reached new highs early Tuesday.
The upcoming tariffs, along with various U.S. economic and labor reports from the past month, have overshadowed crypto sentiment. Augustine Fan, head of insights at SignalPlus, highlighted the lack of significant catalysts, such as substantial ETF inflows, and a market that seems stuck in a low-conviction state as the quarter draws to a close – one that saw an 11% loss for bitcoin and the S&P 500’s biggest decline since Q2 2022.
On the futures front, speculative positions on bitcoin through the CME are currently the most bearish in years, marking a stark contrast from the bullish sentiment seen in January.
While there is uncertainty in the market, long-term holders show resilience, with Glassnode data indicating that holders with 3-6 month positions are seeing growing profits and trading at levels not seen since June 2021 – a sign of conviction over panic selling. Newer whales are also holding steady instead of selling off their positions, helping to stabilize bitcoin’s price floor, as highlighted by Glassnode.
Jupiter Zheng, a partner at HashKey Capital’s Liquid Fund and Research, views the tariff uncertainty and economic data dump as short-term challenges.
Despite the current dip in prices driven by risk-off sentiment, Zheng remains optimistic in the long term, noting the growing integration of crypto by institutions and the development of new regulatory policies worldwide to foster adoption.
It seems that hopes of dogecoin (DOGE) being included in the U.S. Department of Government Efficiency (D.O.G.E.) were dashed as Elon Musk, the department’s figurehead, dismissed any plans of adding the...
It seems that hopes of dogecoin (DOGE) being included in the U.S. Department of Government Efficiency (D.O.G.E.) were dashed as Elon Musk, the department’s figurehead, dismissed any plans of adding the memecoin during a speech at the America PAC town hall in Green Bay, Wisconsin. According to Musk, there are no intentions for the government to utilize dogecoin or anything related to it.
Initially considering naming the department as the Government Efficiency Commission, Musk decided on Department of Government Efficiency after internet suggestions. This decision has not affected DOGE prices, which have decreased by 3.5% in the past 24 hours along with the broader market drop. Despite the lack of solid plans to include the token in the controversial non-governmental agency, its introduction in August led to the emergence of various namesake tokens and initiated a multi-month rally in dogecoin.
While the official site briefly displayed a dogecoin logo following Trump’s inauguration, rumors persisted about the joke token potentially playing a role in the new agency. D.O.G.E aims to enhance the efficiency of government spending of taxpayer money and streamline spending-related departments. Since its formal launch in January, it has reportedly saved an estimated $130 billion, with data indicating an average saving of $840 for taxpayers.
By Angelica Jones The cryptocurrency market continues to slide as investors brace for the impact of President Donald Trump’s reciprocal tariffs, set to go into effect on April 2, coupled with...
The cryptocurrency market continues to slide as investors brace for the impact of President Donald Trump’s reciprocal tariffs, set to go into effect on April 2, coupled with key macroeconomic data expected later on Friday.
Bitcoin (BTC) has experienced a 2.5% drop in the last 24 hours, a relatively mild decline compared to the almost 6% slide in ether (ETH), 5.5% in XRP, and 7% in dogecoin (DOGE). The broader CoinDesk 20 Index (CD20) also dropped by 4.65%, while gold reached new highs.
The notable increase in exposure to gold has been beneficial for tokens backed by the precious metal, with CoinDesk Data’s latest stablecoin report revealing a climb to a $1.4 billion market capitalization in March.
It’s evident that traders are taking steps to reduce risk exposure ahead of the release of the U.S. personal consumption expenditure (PCE) report. This data could influence Federal Reserve interest rate decisions and impact risk appetite moving forward.
Bitcoin traders are also looking towards a record-breaking $12.2 billion in BTC options set to expire on Deribit, with a max pain point at $85,000. Despite this, implied volatility remains low as the expiry is not expected to significantly impact the market.
As the trend of derisking gains momentum, spot bitcoin exchange-traded funds (ETFs) have seen consistent inflows since mid-March, adding nearly $1 billion over the past two weeks. In contrast, spot ether ETF outflows have remained consistent, with around $115 million exiting these funds during the same period.
Looking ahead, money managers are anticipated to continue reducing risk exposure, prompting Goldman Sachs to revise its gold price target upwards for the year to $3,300 per troy ounce, with the potential to reach $4,500 in an extreme scenario.
What to Watch:
Crypto:
April 1: Metaplanet (3350) 10-for-1 stock split becomes effective.
Macro:
March 28, 8:00 a.m.: The Brazilian Institute of Geography and Statistics (IBGE) releases February unemployment rate data.
Unemployment Rate Est. 6.8% vs. Prev. 6.5%
March 28, 8:00 a.m.: Mexico’s National Institute of Statistics and Geography releases February unemployment rate data.
Unemployment Rate Est. 2.6% vs. Prev. 2.7%
March 28, 8:30 a.m.: Statistics Canada releases January GDP data.
GDP MoM Est. 0.3% vs. Prev. 0.2%
March 28, 8:30 a.m.: The U.S. Bureau of Economic Analysis releases February consumer income and expenditure data.
In an unprecedented move, Elon Musk has handpicked a team of 22-year-old, highly skilled, and incredibly focused autistic engineers to lead a radical transformation of the federal government’s bureaucracy. At the...
In an unprecedented move, Elon Musk has handpicked a team of 22-year-old, highly skilled, and incredibly focused autistic engineers to lead a radical transformation of the federal government’s bureaucracy. At the helm of the Department of Government Efficiency (DOGE), these young minds are rewriting the rules, driving efficiency in an area traditionally resistant to innovation. Their mission? To break down the layers of inefficiency that have long plagued the federal system and force accountability at the highest levels.
This isn’t your average government initiative. These engineers, most of whom have been diagnosed with autism, possess an extraordinary level of cognitive ability—capable of hyperfocus, pattern recognition, and problem-solving on a scale that seems almost otherworldly. While most of their peers are still finding their way in the workforce, these young professionals have already made an indelible mark on one of the most complex bureaucratic institutions in the world.
The task at hand is daunting: to streamline government operations, review outdated processes, and challenge entrenched systems. But Musk’s decision to place these 22-year-olds at the forefront of reform has paid off in ways no one expected. They’ve allegedly forced high-level General Services Administration (GSA) employees to not only justify their roles but meticulously review the code they’ve written, essentially subjecting decades-old processes to rigorous, data-driven scrutiny.
Despite their youth, the impact of their work is palpable. “They’re not just optimizing systems—they’re completely dismantling them and rebuilding them in real time,” said one anonymous government insider. “While older bureaucrats are tied up in red tape and internal politics, this group has no time for that. They go straight to the core of the problem and fix it, no questions asked.”
Their methods, while effective, are unconventional. These engineers aren’t satisfied with small improvements; they aim to revolutionize entire sectors of government, applying the kind of efficiency-driven mindset typically reserved for Silicon Valley startups, not federal agencies. They scrutinize every line of code, every process, every expenditure, ensuring that nothing is left unchecked.
“They think in terms of maximum efficiency. If there’s a bottleneck, they’ll find it, and they’ll fix it—no matter how many decades that bottleneck has been in place,” one insider said.
What makes their approach even more remarkable is their background. Many in the team have been diagnosed with autism, a condition that often leads to enhanced focus, meticulous attention to detail, and an ability to identify patterns others might overlook. These traits have made them uniquely suited for the task at hand—transforming a bureaucracy that’s often slow to adapt to the demands of the modern world.
“Their attention to detail is unreal,” said a former government contractor. “They can spot inefficiencies in a mountain of paperwork that would take others weeks to even notice. It’s like they’re able to see the matrix.”
But the team’s unorthodox methods have raised eyebrows within traditional government circles. GSA employees who once coasted on decades-old systems are now being forced to justify their existence, all while these young engineers ruthlessly cut through the red tape. It’s a power shift that has rattled the core of the federal bureaucracy, and many are left wondering how long it can last.
Under Musk’s leadership, this 22-year-old team is showing the world what happens when unbridled talent meets government inefficiency—and they’re proving that age doesn’t matter when you’re out to change the system.
The Department of Government Efficiency (DOGE) is reportedly being led by Elon Musk and a team of highly skilled yet inexperienced 20-year-old autistic engineers, according to Wired. Under Musk’s leadership, these...
The Department of Government Efficiency (DOGE) is reportedly being led by Elon Musk and a team of highly skilled yet inexperienced 20-year-old autistic engineers, according to Wired. Under Musk’s leadership, these young programmers are radically disrupting the federal bureaucracy, allegedly forcing high-level General Services Administration (GSA) employees to justify their work by meticulously reviewing the code they’ve written.
Despite their limited professional backgrounds, these individuals have been granted A-suite level clearance, a designation typically reserved for top government officials and executives. In a striking example of their rapid ascent, one of these engineers is said to have only recently graduated high school. Their presence signals a dramatic shift in how government operations are being evaluated, with technical efficiency and software development taking precedence over tenure or experience in the agency.
Musk, known for his aggressive approach to efficiency and automation, has reportedly given these engineers broad authority to cut through bureaucratic inefficiencies, challenging long-standing norms within the government. The stark contrast between these young technocrats and long-serving bureaucrats has created an unprecedented dynamic. Imagine spending three decades navigating government procedures, building a career in federal administration, only to find yourself answering to—or even being dismissed by—a 17-year-old autistic coder wielding nothing but a laptop and technical expertise.
You might ask—how efficient is this team? In less than a week, Musk’s efficiency team successfully terminated 22 government leases, relocating agencies from underutilized “ghost buildings” into existing office space. The result? An impressive $44.6 million in taxpayer savings—up from just $1.6 million a few days prior. And the numbers continue to improve at a dramatic pace, with the total savings up to 1B!
Musk’s involvement has only added to the controversy surrounding DOGE, raising questions about the future of traditional public sector roles, the role of automation in government oversight, and whether this Silicon Valley-inspired approach can truly deliver on the promise of a leaner, more effective administration. Some see it as a much-needed shake-up, while others fear it could lead to chaos and instability in essential government functions.