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.