FameEX Morning Crypto News Recap | February 10, 2025

Donald Trump Unveils 25% Tariffs on Steel and Aluminum Imports

U.S. President Donald Trump is set to announce new 25% tariffs on all steel and aluminum imports, escalating his trade policy further. He also plans to introduce reciprocal tariffs on Tuesday or Wednesday, which will take effect almost immediately. In response to the announcement, crypto markets dropped by more than 2% in the past 24 hours.

U.S. Non-Farm Payrolls Growth Slows in January as Powell Prepares to Testify on Monetary Policy

U.S. non-farm payrolls increased by 143,000 in January, falling short of the expected 175,000, with the unemployment rate at 4%. Federal Reserve Chairman Powell will testify on monetary policy before the Senate on February 11 and the House on February 12. Additionally, the U.S. unadjusted CPI annual rate for January is set to be released on February 12.

Strategy Considers Expanding Its Bitcoin Holdings Again

Strategy founder Michael Saylor announced new details about Bitcoin Tracker, stating, "The blue line is dead. Long live the green dot." Following past patterns, Strategy typically increases its Bitcoin holdings the day after such news is shared.

Barclays Forecasts U.S. Inflation to Rise by 0.2 Percentage Points in the Coming Year

Michael Pond, Barclays' head of global inflation research, indicated that inflation-indexed bonds suggest U.S. inflation will rise by 0.2 percentage points in the next year. He noted that about 25% of this increase is driven by higher gasoline prices.

BlackRock to Introduce Bitcoin Spot Investment Product in Switzerland

On February 9, BlackRock, the world's largest asset manager, will launch a Bitcoin spot investment product in Switzerland. CEO Larry Fink described Bitcoin as a safe haven against currency depreciation. The firm's Bitcoin Fund is experiencing record capital inflows, signaling rising institutional investment demand in the cryptocurrency space.

Hartmann Capital Founder: Crypto Market Could Be Approaching Bottom

On February 9, Hartmann Capital founder suggested that the crypto market may be nearing its bottom, citing negative funding rates and bearish sentiment. With more sellers than buyers, funding rates remain negative. Additionally, high-quality altcoins have fallen back to their long-term trendlines, reversing most of their fourth-quarter 2024 gains.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.