FameEX Morning Crypto News Recap | February 28, 2025
2025-02-28 08:04:40Bitcoin, S&P 500, and Nasdaq Dip as Trump Confirms Canada-Mexico Tariffs Will Take Effect on March 4
On February 27, Bitcoin declined to $85,000 following President Trump's confirmation of new tariffs on Canada and Mexico starting March 4. The announcement led to a drop in the S&P 500 and Nasdaq indexes as investors reacted to the potential economic impact of the tariffs.
Rising Long-Term Risk of Global Inflation
Torsten Slok, chief economist at Apollo Global Management, warned that the polarization of globalization could drive long-term inflation in various regions. He pointed to the rise of restrictive trade and anti-immigration policies, signaling geopolitical shifts that may worsen global inflationary pressures in the years ahead.
BTC May Face Strong Resistance in the $96,000 to $98,000 Range
Glassnode noted significant Bitcoin accumulation in the $96,000-$98,000 range from late December 2024 to February 2025. Despite some address reallocations, the dense supply cluster suggests this zone may act as strong resistance.
Cryptocurrency Fear Index Falls to 10, Lowest Level Since July 2022
On February 27, Alternative.me data revealed that the cryptocurrency panic index fell to 10, its lowest since July 2022. This sharp drop indicates a high level of fear and investors on edge.
Demand for BTC Spot ETFs Remains Weak
On February 27, CryptoQuant CEO Ki Young Ju said demand for BTC spot ETFs is weak, suggesting that a price recovery may take longer.
BlackRock IBIT Sets Record with 5,002 Bitcoin Daily Net Outflow
On February 27, Trader T reported BlackRock's IBIT saw a net outflow of 5,002 bitcoins ($420.56M), marking its largest single-day outflow since launch.
Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.