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The cryptocurrency market is struggling to maintain stability, with Bitcoin 
$104,893 trying to hold the $77,000 support level and Ethereum 
$2,522 fluctuating below $1,500. In the backdrop, the UK has made statements indicating it will not remain passive, while the European Union is proposing zero customs duties on certain items. Meanwhile, former President Trump is busy negotiating with over 50 countries, taking time out to play golf on weekends. Even the most resilient Bitcoin whales are facing billions in losses. What lies ahead for cryptocurrencies?
What Will Happen to Cryptocurrencies?
Countries are actively searching for negotiation avenues, but China’s retaliatory actions and Trump’s distant approach have triggered a significant sell-off in global markets. As expected, Black Monday occurred, resulting in a drop in cryptocurrency values. The SP500 index has regressed to February 2024 levels, and many altcoins are seeing losses exceeding 10%.
So, what happens next? Trump’s team is advocating for sacrifices from countries that have gained indirect benefits alongside the elimination of tariffs. There are demands for production to shift back to the U.S., along with calls for tariff reductions. Although the EU claims it is ready to eliminate tariffs for auto and industrial exports, the outcome of negotiations is likely to be revealed this week.
While Trump appears indifferent to market fluctuations, his advisors argue that the selling will not last long, asserting that the bottom is near. The Federal Reserve took emergency measures at 18:30, which could lead to a rate cut that helps stabilize the situation.
In summary, depending on how close Trump is to reaching a consensus, we might either witness significant market lows or observe a recovery from the bottom this week. We will continue to share important last-minute updates on the situation.
Billion-Dollar Whale Loss
Strategy has spent $7.66 billion to acquire 80,715 BTC in the first three months of the year. Following the recent downturn, the company’s unrealized losses have reached $5.91 billion due to those initial purchases. If the company does not begin buying in the second quarter, losses may deepen further.
In the first quarter, the company acquired 80,715 BTC at an average cost of $94,922 for the $7.66 billion cash generated from its stock issuance program. The firm currently holds 528,185 BTC, with an average acquisition cost of $67,458 since 2020, totaling approximately $36 billion.
