Crypto Crash Today, 4th March : Trump Crypto Announcement, Bitcoin Price , XRP News

Over the past 30 days, the crypto market cap has dropped by 18%, shedding over $60B amid significant price fluctuations. However, certain tokens have emerged as safe havens for investors, with TRX, XAUT, XMR, and BNB exhibiting the least volatility during this period. These tokens have provided relative stability in a turbulent market.

In recent transactions tracked by Whale Alert, nearly $70 million in XRP was transferred to Coinbase from an anonymous wallet, marking a significant internal reshuffling on the exchange. Over the past 48 hours, 104.5 million XRP moved through three major exchanges, with notable transfers to Bithumb and Upbit. These moves come on the heels of Ripple’s release of one billion XRP, coinciding with the U.S. Crypto Reserve announcement.

El Salvador added 5 Bitcoin worth approximately $415,000 to its holdings, bringing the total to 6,100 BTC valued at around $510 million. Despite the IMF’s recent loan conditions, which require reduced state involvement in crypto, the country continues its strategy of purchasing one Bitcoin daily. Additionally, President Bukele is focusing on tech advancements, aiming to establish El Salvador as a regional tech hub with AI and investment-friendly policies.

FTX/Alameda has unstaked 3.03 million SOL, approximately worth $431.3 million, and transferred it across multiple wallets. The largest transfer went to the address CVjsf5…shH63R, which received 892,800 SOL, valued at about $128 million. Additionally, 12 addresses received over $10 million worth of SOL. This move highlights significant shifts in the holdings of SOL, raising questions about future market impacts.

Justin Sun, the founder of Tron, has reassured the crypto community about USDD, stating that everything is normal with the stablecoin. He compared USDD to Wrapped ETH, confirming that users can exchange it 1:1 on the official website. However, Sun warned that if there is no 1:1 exchange, users could incur losses due to price differences. He also mentioned that the liquidity of centralized exchanges (CEX) will continue to increase in the coming times.

The PI Network saw significant excitement following its mainnet launch on February 20, but the price initially fell before making a strong recovery. After reaching a new all-time high on February 27, the price pulled back slightly, trading below its launch price. Despite the market’s decline, PI remains bullish, with technical indicators such as RSI and MACD showing positive momentum. A key resistance at $1.95 will be crucial for confirming further upward movement. If PI breaks through this level, it could rise to $2.40. However, failure to reclaim $1.95 might push the price lower toward $1.11.

Australia is currently not considering establishing a strategic crypto reserve, despite the U.S. government’s announcement under President Trump. The Australian government is focused on regulating digital asset platforms rather than directly incorporating cryptocurrencies into their financial reserves. Although there is growing interest in the potential of crypto, the volatility of the market and the complexity of establishing a reserve make it unlikely in the near term. Instead, experts suggest that Australia might opt for a sovereign wealth fund that holds crypto assets in a long-term strategy.

As the crypto market faces volatility, the upcoming White House Crypto Summit on Friday, March 7th, hosted by Trump and David Sacks, could significantly impact the sector. Focused on regulatory clarity, national crypto strategy, and potential tax incentives, the summit might introduce 0% capital gains tax on U.S.-issued cryptos. This could benefit U.S.-based projects like $NEAR, $RENDER, and $DAG, leading to a potential short squeeze. Traders are watching closely for developments.

Bitcoin is still in the early stages of its bear market, with a recent sell-off from $108K to $83K being just the beginning, according to an analyst’s prediction. The market is expected to plunge much lower, and the analyst urges holders to exit as soon as possible to avoid the “bloodbath” ahead, warning that the incoming downturn will leave no survivors.

The crypto market saw a sharp reversal on Tuesday as major tokens Cardano (ADA), XRP, and Solana (SOL) plummeted 21%, erasing recent gains fueled by President Trump’s announcement of a U.S. crypto strategic reserve. The rally, which saw ADA rise 60%, XRP climb 33%, and SOL jump 22%, was short-lived due to profit-taking and broader market volatility. Trump’s tariffs on Canada, Mexico, and China further fueled the selloff, with investors awaiting clarity from the upcoming White House Crypto Summit.

In retaliation to the U.S. government’s recent announcement of a 10% tariff on all Chinese goods, China will implement additional tariffs on U.S. imports starting March 10, 2025. The new measures include a 15% tariff on American chicken, wheat, and other products, as well as a 10% tariff on soybeans, pork, and more. These actions heighten tensions between the two nations, signaling potential escalation in the ongoing trade dispute.

Samson Mow, CEO of Jan3, expressed concerns about President Trump’s cryptocurrency reserve plan. He cautioned that including random altcoins could lead to chaos and turn the initiative into a speculative game. Mow suggested that the reserve should prioritize Proof of Work (POW) assets like Bitcoin (BTC), Litecoin (LTC), and Monero (XMR) to ensure stability and credibility in the crypto space, avoiding the risks of unregulated altcoins.

The Atlanta Fed revised its Q1 2025 GDP estimate down from -1.5% to -2.8%, signaling a contraction. President Trump’s trade war intensifies, with tariffs rising to 20%, adding pressure to the economy. This has triggered significant volatility, seen in a 54% spike in the VIX since February 14. As tariffs take effect, market participants brace for more fluctuations, offering potential trading opportunities, especially in stocks and crypto markets.

The Sensex today mirrored the global downturn, with Asian stocks falling sharply amid President Trump’s new tariff announcements. The 25% tariffs on Canada and Mexico, and 10% on China, sparked fears of a trade war, stalling economic growth. The cryptocurrency market also crashed, with Bitcoin, Ether, XRP, and altcoins seeing massive sell-offs. The total crypto market cap dropped 12.3%, while $1.08 billion in liquidations hit the market, showing widespread losses among traders.

Peter Schiff has raised alarms over President Trump’s recent crypto-related tweets, calling them the “biggest crypto rug pull” of all time. Schiff demands a Congressional investigation into the authorship and timing of the posts on Trump’s Truth Social account, and whether those with prior knowledge of the announcement profited from buying and selling XRP, ADA, SOL, BTC, and ETH. The inquiry will also explore potential ties to Trump’s staff, family, and campaign donors.

In response to the U.S. government’s announcement of a 10% tariff on all Chinese goods, China will impose additional tariffs starting March 10, 2025. A 15% tariff will apply to American chicken, wheat, and other products, while soybeans, pork, and more will face a 10% tariff, escalating ongoing trade tensions between the two nations.

Grayscale Investments has filed for approval of a new spot Hedera (HBAR) ETF with the U.S. Securities and Exchange Commission (SEC), marking its sixth altcoin-focused ETF. This move is part of Grayscale’s broader strategy to offer more altcoin investment products. The SEC’s current stance under acting chair Mark Uyeda has been more supportive of altcoin-based ETFs, signaling potential broader adoption.

The crypto market plummeted, shedding $460 billion in just 24 hours, with over $1.09 billion in liquidations. Bitcoin (BTC) dropped over 10%, while altcoins like Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA) fell 15%-25%. Analysts predict BTC may dip to $70,000-$75,000 before resuming an uptrend. Despite President Trump’s crypto reserve announcement, the market faces continued uncertainty amid tariff news.

Bybit CEO Ben Zhou revealed that out of the $1.4 billion in hacked funds, 77% are still traceable, 20% have gone dark, and 3% have been frozen. The hackers have successfully converted 83% of the stolen funds, amounting to approximately $1 billion worth of Ethereum (ETH), into Bitcoin (BTC). This significant development highlights the ongoing investigation and the complex nature of tracking and recovering stolen cryptocurrency.

Bitcoin (BTC) saw a sharp decline, dropping to $83K, while Ethereum (ETH), XRP, and Solana (SOL) also crashed 14%-20% intraday. The crypto market lost nearly 10% in value amid massive liquidations totaling over $1 billion. Despite President Trump’s crypto reserve announcement, liquidity setbacks and broader market trends contributed to the sell-off, with meme coins like Dogecoin and Shiba Inu also mirroring the downturn.

Ether (ETH) has dropped 15% in the past 24 hours, reaching levels unseen since November 2023, as the broader market grapples with volatility sparked by U.S. President Donald Trump’s trade war threats. This has led to a wider decline With over $165 million in ETH long positions liquidated and a weak institutional demand, ETH faces continued bearish pressure, exacerbated by macroeconomic factors.