The cryptocurrency market is experiencing abrupt changes, causing alarm among investors and analysts.
Current Cryptocurrency Status
The first quarter for cryptocurrencies has not met expectations, extinguishing hopes for a post-halving rally. Bitcoin (BTC) dropped to $79,332 during the writing of this article. Many altcoins are plunging deeper, suffering losses nearing 10%.
Market Influencing Factors
As BTC’s price rapidly declines, altcoins are shaken. The U.S. markets opened with a 2% drop. Economic expectations for growth in the U.S. are severely impacted by increasing tariffs and accelerated government dismissals, fueling global economic crisis fears, resulting in significant rises in U.S. and European national bond rates.
Outlook and Expectations
The upcoming U.S. CPI data on March 12 is highly anticipated. It is crucial for Trump to recognize economic risks and moderate his tone in the coming days.
The current situation on the crypto market resembles a nightmare due to its senselessness and unpredictability, requiring careful analysis and cautious actions.
