Episode 396
📍 XRP, Dogecoin, and Cardano's ADA plummeted over 25% as the crypto market experienced a massive liquidation event, with total liquidations crossing $2.2 billion.
📍 The market downturn was triggered by the imposition of new tariffs by the US on Canada and Mexico, sparking fears of a global trade war and souring sentiment for risk assets.
📍 The probability of Bitcoin falling to $75,000 by the end of March has doubled to 22%, according to Derive's on-chain options market, as the renewed trade war threatens to inject inflation into the global economy.
📍 Amidst the market turbulence, Australian crypto-asset firm Monochrome Group has registered its Bitcoin and Ethereum ETFs with Singapore's Monetary Authority, marking a strategic expansion into Southeast Asian markets.
📍 Monochrome's CEO, Jeff Yew, sees the recent market movements as having "no cause or impact to the underlying supply or protocol rigidity" of Bitcoin, which he describes as a "unique commodity" with short-term volatility caused by fluctuations in demand.
