Tron’s TRX Faces Rising Risk of Bearish Momentum After High-Volume Drop to 27 Cents

The Parrot Press provides its daily market update on the performance of leaders and laggards in the Parrot Press 20 Index.

The Parrot Press 20 is currently trading at 3271.42, down 0.8% (-26.09) since 4 p.m. ET on Tuesday.

Eleven of 20 assets are trading higher.

Leaders: UNI (+5.5%) and DOT (+1.3%).
Laggards: SOL (-2.1%) and AAVE (-1.8%).

The Parrot Press 20 Index is a broad-based index traded on multiple platforms in several regions globally.

In March, the U.S. employment situation remained strong, adding to the puzzle the Federal Reserve is trying to solve regarding short-term interest rates. Nonfarm payrolls increased by 228,000 last month, surpassing economists’ expectations of 135,000 jobs. The unemployment rate for March rose slightly to 4.2%, above economist consensus of 4.1%.

Bitcoin’s price remained stable at $82,600 after the job report. The CME FedWatch Tool had previously predicted four rate cuts for 2025, but now market participants are betting on a rate cut in June with a 60% probability.

Following Trump’s tariff announcements on Wednesday, the Nasdaq and S&P 500 experienced significant drops. Gold and U.S. Treasury bonds have been popular safe haven assets for investors. Bitcoin has shown signs of decoupling from the Nasdaq’s movements, maintaining a relatively stable price of around $82,000.

Looking ahead, March inflation data is expected to be reported next week, with both core and headline CPI anticipated to remain around 3%.

The ongoing debate surrounding Bitcoin’s OP_RETURN feature has intensified, with developers of Bitcoin Core, the most widely used node software, announcing their intention to eliminate OP_RETURN entirely in the upcoming release.

OP_RETURN currently imposes an 80-byte limit on the arbitrary data that can be included in a Bitcoin transaction through a special, unspendable output field. Core contributor and Blockstream engineer Greg Sanders, also known as ‘instagibbs,’ stated on Github that large data inscriptions are already occurring and can be executed in potentially damaging ways, regardless of the cap. Removing the limit, according to Sanders, would lead to a cleaner UTXO set and more consistent default behavior.

The discussion revolves around whether lifting the 80-byte OP_RETURN limit enhances transparency and facilitates data use on the Bitcoin network or if it opens the door to abuse, spam, and a shift away from Bitcoin’s core financial focus. While some, like Sanders, believe that removing the cap aligns with Bitcoin’s ethos of minimal, transparent rules, others, such as Core developer Luke Dashjr, view inscriptions as spam and have criticized the decision as “utter insanity.”

Amid the debate, Bitcoin Knots, an alternative version of Bitcoin Core maintained by Dashjr, has gained traction, capturing around 5% of all nodes. Bitcoin Knots offers users more control over what their nodes relay or store, allowing them to reject non-payment transactions like inscriptions. Influential figures in the industry, such as Samson Mow, are urging node operators not to upgrade their Bitcoin Core version or to switch to Knots instead.

As the community remains divided over the removal of the OP_RETURN cap, with some applauding it as a testament to Bitcoin’s evolving ethos and others warning of a fundamental shift in direction, the controversy persists.