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End of the bull market or opportunity to buy the dip?
- Various significant events impacted financial markets and the cryptocurrency sector in the first week of March, influencing short- and medium-term projections.
- A trade war initiated by imposing tariffs on Mexico, Canada, and China by President Trump led to disruptions in international trade and inflation concerns.
- The US economy showed signs of slowing down under the Trump administration, with predictions of a contraction in the first quarter.
- The S&P500 saw significant volatility, maintaining a streak of over 1% moves at the close for seven days.
- President Trump signed an executive order to establish a Bitcoin strategic reserve using confiscated bitcoins, aiming to position the US as a leader in cryptocurrencies.
- The first 'Crypto Summit' at the White House brought together industry leaders to discuss strategies and the Bitcoin strategic reserve initiative.
- Market reactions were mixed after the summit, with slight price drops attributed to the absence of direct government Bitcoin purchases for the reserve.
- The Fear & Greed Index stood at 33, reflecting caution among investors due to recent market volatility and global uncertainties.
- Main cryptocurrencies like Bitcoin, Ethereum, and Cardano experienced price declines during the week.
- Stablecoin market cap remained stable, indicating consistent demand for digital assets linked to fiat currencies.
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