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The past month of market movement has been dominated by tariff drama, and this volatility has carried into March. With Canadian and Mexican tariffs going live yesterday, markets continued to fall. Bitcoin dropped back to $81.5k, down from $95k the day before, while traditional markets like the S&P 500 also struggled, losing 1.25% in the last day and down 6% from its all-time high set just two weeks ago on 20th February.
These tariffs continue to weigh on risk-on assets, but safe havens such as the US 10-Year Bond (US10) and gold have seen gains. US10 has climbed over 6% since 12th February, while gold has continued its rally, setting a new all-time high against the AUD overnight.
Political Shifts: Ukraine, Tariffs, and Market Confusion
In the last 24 hours, several major political developments have unfolded. Trump has halted all US military aid to Ukraine—potentially as leverage to secure a minerals deal. If that was his intention, it worked. This morning, the US and Ukraine agreed to sign a minerals deal, marking a potential step toward resolving the conflict.
Meanwhile, just a day after imposing tariffs, the US Secretary of Commerce announced that Trump may roll back tariffs on Canada and Mexico tomorrow. If true, this adds further uncertainty around Trump’s tariff strategy. A rollback could trigger a rally in risk-on assets—but caution is warranted. We’ve seen Trump pause tariffs before, only to reimpose them, sending markets tumbling again.
This Trump-driven volatility isn’t going anywhere, and sharp corrections should be expected throughout the year. As I’ve said countless times, 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) ($0.56)
Stormrake Spotlight: Sonic (S) ($0.56)
Sonic traded as low as $0.49 yesterday before finding support. The $0.51 level has played a key role in helping Sonic reclaim its accumulation zone at the daily close.
Despite weak price action over the past two weeks, Sonic has continued to perform exceptionally well on-chain. Broader market uncertainty and bearish sentiment have weighed on price, but when sentiment turns, Sonic’s strong on-chain fundamentals will likely drive price appreciation once again.
S is one of those coins that thrives in bullish conditions but struggles in bearish environments. When the market flips positive, expect Sonic to outperform.
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 bounced perfectly from the key $81.6k level overnight, reaching a high of $89k just a few hours ago. However, $89k remains a major resistance level, as it aligns with both the 200EMA and a crucial CPR level. This resistance rejected BTC, and it now looks set to fall back below all moving averages, likely retesting $85.2k.
BTC Total ETF Flows for 4 Mar: $ -32.1 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:
Ethereum has bounced off $2,019 for the second time in two days, forming a double-bottom pattern and pushing higher. ETH is now trading at the key resistance level of $2,171, but has failed to break above it. It has spent the last six hours attempting a breakout, only to be rejected each time.
ETH Total ETF Flows for 4 Mar: $ +19.2 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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