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The massive rally following Donald Trump’s recent comments has evaporated just as quickly as it surged. It wasn’t just crypto that pulled back overnight—traditional markets also fell as further confirmation came that tariffs on Canada and Mexico will go into effect tomorrow, with China facing an additional 10% tariff increase, bringing its total to 20%. Trump confirmed these details in his speech this morning.
Before the speech, breaking news suggested he would be making an “investment announcement.” Given this came less than 24 hours after his posts regarding the Crypto Strategic Reserve, expectations were high that the announcement would revolve around cryptocurrency.
There was indeed an investment announcement, but not a single mention of crypto. As a result, the market has given back all of its Trump-driven gains. While Bitcoin remains around $86K—roughly where it was before Trump’s posts—many altcoins have dropped to levels lower than they were two days ago, with Ethereum seeing a sharp decline.
This drastic drop from yesterday’s high is anything but bullish. It has confirmed another lower high on the daily timeframe, reinforcing the medium-term bearish structure. Bitcoin’s vulnerability is evident, with the Fear and Greed Index plunging back to extreme fear at 15. This highlights a key trend: if bullish expectations aren’t met, the market falls. There doesn’t need to be explicitly bearish news—the mere absence of bullish reaffirmations is enough to send investors back into panic mode.
All hope is not lost, though. The upcoming Crypto Summit in a few days could provide much-needed clarity on the Crypto Strategic Reserve. However, if no confirmation emerges, things could get ugly…
This Trump-driven volatility isn’t going anywhere, and we should expect more sharp corrections throughout the year. As I’ve said countless times before, these dips are golden buying opportunities. Time and time again, I’ve been proven right—and those who followed my advice have reaped massive gains.
Stormrake Spotlight: Sonic (S) ($0.59)
Stormrake Spotlight: Sonic (S) ($0.59)
Like many other altcoins, Sonic has fallen to lower prices on this correction than it was prior to the lows set a few days ago. S has now returned to a bullish order block, which should provide some demand and buying support. This is a key level to consider for dollar-cost averaging into Sonic positions.
BTC/USD Key Levels and Price Action:
BTC/USD Key Levels and Price Action:
Bitcoin has given back all its gains and has returned to the $85.2K level after a brief rally two days ago. This sharp drop overnight has erased bullish momentum, putting BTC at risk of losing its bullish structure if this level fails to hold. So far, support has held over the last few hours, but if it breaks, we are likely to retest the lower key support at $81.6K.
BTC Total ETF Flows for 3 Mar: $ -54.4 million
(ETF flow data is sourced from https://farside.co.uk/btc/ and reflects figures at the time of writing.)
ETH/USD Key Levels and Price Action:
ETH/USD Key Levels and Price Action:
After getting rejected at key resistance yesterday, ETH has fallen back below the bottom of the range and the key level of $2,171, flipping momentum and structure back to the bears. If the market continues to decline, ETH is likely to retest $2,000.
ETH Total ETF Flows for 3 Mar: $ +4 million
(ETF flow data is sourced from https://farside.co.uk/eth/ and reflects figures at the time of writing.)
*All prices are denominated in USD unless stated otherwise*
Written by Alexandar Artis
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