Crypto Daybook Americas: Trump's New Tariff Threat Fails to Budge Bitcoin
By Francisco Rodrigues (All times ET unless indicated otherwise)
President Donald Trump ramped up the trade-war hyperbole, threatening to increase import tariffs levied on the EU and Canada if they keep on working to 'do economic harm' to the U.S. after announcing a 25% tariff on vehicles and foreign-made auto parts.
Despite the threat, crypto markets remained stable, with bitcoin holding steady at about $87,500. Over 24 hours the largest cryptocurrency is down about 0.6% and the broader CoinDesk 20 Index some 2%.
The growing threats not only raise concerns about economic growth, but also widen the gap between the U.S. and Europe, whose leaders are meeting with Ukraine's President Volodymyr Zelensky today to work on long-term security guarantees. The summit comes after the U.S. persuaded Ukraine and Russia to agree to a Black Sea ceasefire.
Cryptocurrency prices are being influenced not only by macroeconomic factors, but also by the forthcoming expiry of around $15 billion worth of BTC and ETH options contracts on Friday. The uncertainty has stalled BTC's price rally, even after video-games retailer GameStop moved to raise $1.3 billion to accumulate the cryptocurrency.
Still, the U.S. House of Representatives has released a bill that's set to help reduce systemic risks associated with stablecoin usage. Blockchain development is also progressing steadily, with Ethereum's final Pectra test going live on the Hoodi network.
Looking ahead, the U.S. Senate Banking Committee will today hold a hearing on the nomination of Paul Atkins — who holds up to $6 million in crypto-related assets — as the Chair of the Securities and Exchange Commission. Stay alert!
Crypto:
March 27: Walrus (WAL) mainnet goes live.
April 1: Metaplanet (3350) 10-for-1 stock split becomes effective.
Macro
March 27, 8:30 a.m.: The U.S. Bureau of Economic Analysis releases (Final) Q4 GDP data.
GDP Growth Rate QoQ Est. 2.3% vs. Prev. 3.1%
Core PCE Prices QoQ Est. 2.7% vs. Prev. 2.2%
PCE Prices QoQ Est. 2.4% vs. Prev. 1.5%
Real Consumer Spending QoQ Est. 4.2% vs. Prev. 3.7%
March 27, 8:30 a.m.: The U.S. Department of Labor releases unemployment insurance data for the week ended March 22.
Initial Jobless Claims Est. 225K vs. Prev. 223K
March 27, 10:00 a.m.: The U.S. Senate Banking Committee will hold a hearing on the nomination of Paul Atkins to the chair of the Securities and Exchange Commission (SEC). Livesteam link.
March 27, 3:00 p.m.: Mexico's central bank announces its interest rate decision.
Target Rate Est. 9% vs. Prev. 9.5%
March 28, 8:00 a.m.: The Brazilian Institute of Geography and Statistics (IBGE) releases February unemployment rate data.
Unemployment Rate Est. 6.8% vs. Prev. 6.5%
March 28, 8:00 a.m.: Mexico's National Institute of Statistics and Geography releases February unemployment rate data.
Unemployment Rate Est. 2.6% vs. Prev. 2.7%
March 28, 8:30 a.m.: Statistics Canada releases January GDP data.
GDP MoM Est. 0.3% vs. Prev. 0.2%
March 28, 8:30 a.m.: The U.S. Bureau of Economic Analysis releases February consumer income and expenditure data.
Core PCE Price Index MoM Est. 0.3% vs. Prev. 0.3%
Core PCE Price Index YoY Est. 2.7% vs. Prev. 2.6%
PCE Price Index MoM Est. 0.3% vs. Prev. 0.3%
PCE Price Index YoY Est. 2.5% vs. Prev. 2.5%
Personal Income MoM Est. 0.4% vs. Prev. 0.9%
Personal Spending MoM Est. 0.5% vs. Prev. -0.2%
April 2, 12:01 a.m.: The Trump administration's reciprocal tariffs plan, announced Feb. 13, takes effect alongside a 25% tariff on imported automobiles and certain parts announced March 26.
Earnings (Estimates based on FactSet data)
March 27: KULR Technology Group (KULR), post-market, $-0.02
March 28: Galaxy Digital Holdings (GLXY), pre-market, C$0.38
Governance votes & calls
DYdX DAO is discussing the allocation of $10 million to fund the most profitable traders on the platform in a bid to attract talent. The DAO is also voting on creating a new liquidity tier designed for 'markets introduced through the Instant Market Listings' feature.
Venus DAO is discussing the potential acquisition of a 33% stake in Thena.fi for $4.5 million to position Venus to 'build a comprehensive DeFi SuperApp on the BNB Chain."
Balancer DAO is discussing the establishment of a Balancer Alliance Program, which would see the protocol share a portion of the revenue it generates with key ecosystem partners in the form of USDC as veBAL.
CoW DAO is discussing updating the score definition for buy orders after a Base network incident revealed that the current definition could lead to an excessive allocation of solver rewards.
March 27, 9 a.m.: PancakeSwap and EOS Network Foundation to host an Ask Me Anything (AMA) session.
March 27, 12 p.m.: Cardano Foundation to hold a livestream with its CTO breaking down the project's roadmap.
March 27, 12 p.m.: Header to host a Community Call with support for Post-Quantum Cryptographic Algorithm, sponsored feels ,and AI tools on the agenda.
March 27., 1 p.m.: Alchemy Pay to host a Community AMA session.
March 28, 3 a.m: Ontology to hold a Weekly Community Update via X Spaces.
Unlocks
March 31: Optimism (OP) to unlock 1.93% of its circulating supply worth $28.67 million.
April 1: Sui (SUI) to unlock 2.03% of its circulating supply worth $178.46 million.
April 1: ZetaChain (ZETA) to unlock 6.05% of its circulating supply worth $17.66 million.
April 2: Ethena (ENA) to unlock 0.77% of its circulating supply worth $17.63 million.
April 3: Wormhole (W) to unlock 47.64% of its circulating supply worth $144.79 million.
April 7: Kaspa (KAS) to unlock 0.59% of its circulating supply worth $11.74 million.
April 9: Movement (MOVE) to unlock 2.04% of its circulating supply worth $24.92 million.
Token Listings
March 27: Walrus (WAL) to be listed on Gate.io, KuCoin, Bluefin, MEXC, Bitget, and Bybit.
March 28: Binance to delist Aergo (AERGO).
March 31: Binance to delist USDT, FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC, and PAXG.
CoinDesk's Consensus is taking place in Toronto on May 14-16. Use code DAYBOOK and save 15% on passes.
Day 2 of 3: Real World Crypto Symposium 2025 (Sofia, Bulgaria)
March 27: Building Blocks (Tel Aviv)
March 27: Digital Euro Conference 2025 (Frankfurt)
March 27: Web3 Banking Symposium 2.0 (Lugano, Switzerland)
March 27: WIKI Finance EXPO Hong Kong 2025
Day 1 of 2: Money Motion 2025 (Zagreb, Croatia)
March 28: Solana APEX (Cape Town)
April 2-3: Southeast Asia Blockchain Week 2025 Main Conference (Bangkok)
April 2-5: ETH Bucharest Conference & Hackathon (Bucharest, Romania)
April 3-6: BitBlockBoom (Dallas)
By Shaurya Malwa
A viral AI art trend fueled by OpenAI's new 4o model sparked a surge in Studio Ghibli-themed memecoins, blending nostalgia with cryptocurrency speculation as fans create Ghibli-style images and traders capitalize on the hype.
The ghiblification (GHIBLI) token, the largest, boasted a $21 million market cap and $70 million in trading volume within 24 hours driven by over 250,000 trades on the Ethereum and Solana blockchains.
The trend, marked by the #GhibliAI hashtag amassing millions of hits on X and Instagram, reflects internet culture's love for humor and absurdity, attracting speculators with low-cost, high-volatility tokens.
Smaller Ghibli-inspired tokens like Ghilbi Doge, NoFace and Yutaro lag behind GHIBLI in trader interest, while the latter's liquidity pool holds just over $330,000 in Solana's SOL.
While BTC, ETH CME futures yields stopped falling early this month, there has been a noticeable lack of progress, particularly in the wake of continued corporate adoption of bitcoin. The divergence suggests sophisticated market players remain cautious.
BTC, ETH perpetual funding rates on offshore exchanges are barely positive, another sign of cautious sentiment.
TRX, XMR, TON and SUI are the only top 25 coins with positive net cumulative volume deltas for the past 24 hours. The positive value indicates net buying in the perpetual futures market.
BTC and ETH short-end options-based implied volatility indexes continue to drift lower, with investors still pricing bigger swings in ETH relative to bitcoin.
Deribit-listed options continue to show a bias for short duration puts in BTC, ETH, SOL and XRP.
BTC is up 0.22% from 4 p.m. ET Wednesday at $87,494.70 (24hrs: -0.86%)
ETH is up 0.69% at $2,025.47 (24hrs: -1.90%)
CoinDesk 20 is up 0.48% at 2,757.13 (24hrs: -2.19%)
Ether CESR Composite Staking Rate is up 2 bps at 2.97%
BTC funding rate is at 0.0087% (3.1744% annualized) on Binance
DXY is unchanged at 104.47
Gold is up 0.82% at $3,045.80/oz
Silver is up 1% at $34.37/oz
Nikkei 225 closed -0.6% at 37,799.97
Hang Seng closed +0.41% at 23,578.80
FTSE is down 0.66% at 8,632.24
Euro Stoxx 50 is down 0.7% at 5,373.68
DJIA closed on Wednesday -0.31% at 42,454.79
S&P 500 closed -1.12% at 5,712.20
Nasdaq closed -2.04% at 17,899.02
S&P/TSX Composite Index closed -0.7% at 25,161.10
S&P 40 Latin America closed -0.83% at 2,460.26
U.S. 10-year Treasury rate is up 4 bps at 4.4%
E-mini S&P 500 futures are unchanged at 5,763.25
E-mini Nasdaq-100 futures are unchanged at 20,112.25
E-mini Dow Jones Industrial Average Index futures are up 0.16% at 42,815.00
BTC Dominance: 61.69 (-0.14%)
Ethereum to bitcoin ratio: 0.02317 (0.17%)
Hashrate (seven-day moving average): 838 EH/s
Hashprice (spot): $49.19
Total Fees: 9.67 BTC / $846,444x
CME Futures Open Interest: 144,470 BTC
BTC priced in gold: 28.8 oz
BTC vs gold market cap: 8.17%
The share price of bitcoin-holder Strategy (MSTR) has risen past $320, confirming a bullish double bottom breakout.
The pattern suggests potential for a rally for the Nasdaq-listed shares to resistance at $410.
Strategy (MSTR): closed on Wednesday at $329.31 (-3.66%), up 0.48% at $330.89 in pre-market
Coinbase Global (COIN): closed at $193.95 (-5.03%), up 0.81% at $195.52
Galaxy Digital Holdings (GLXY): closed at C$18.08 (-3.06%)
MARA Holdings (MARA): closed at $13.79 (-3.23%), up 0.51% at $13.86
Riot Platforms (RIOT): closed at $7.9 (-7.17%), up 1.01% at $7.98
Core Scientific (CORZ): closed at $7.63 (-11.89%), up 1.97% at $7.78
CleanSpark (CLSK): closed at $8.12 (-6.99%), up 0.62% at $8.17
CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $14.32 (-8.5%)
Semler Scientific (SMLR): closed at $39.57 (-6.63%)
Exodus Movement (EXOD): closed at $50 (-10.78%), up 0.6% at $50.30
Spot BTC ETFs:
Daily net flow: $89.6 million
Cumulative net flows: $36.33 billion
Total BTC holdings ~ 1,115 million.
Spot ETH ETFs
Daily net flow: -$5.9 million
Cumulative net flows: $2.43 billion
Total ETH holdings ~ 3.406 million.
Source: Farside Investors
AI is the worst-performing crypto market sector of the past 24 hours.
The dire performance is consistent with losses in AI-related stocks on Wall Street supposedly triggered by Microsoft abandoning data center projects set to use 2 gigawatts of electricity in the U.S. and Europe.
Dogecoin Gains, XRP Slumps as Trump Warns of 'Far Larger' Tariffs (CoinDesk): President Donald Trump threatened Canada and the EU with higher tariffs if they collaborated and harmed the U.S. economy. His post on Truth Social damped early positive sentiment in crypto markets.
Rattled by Trump, America's Allies Shift to Defense Mode (The New York Times): Trump's 25% auto tariff alarmed allies including Canada, Japan and Germany, who see it as a breach of decades-old economic and defense partnerships with the U.S.
BlackRock Expands Digital Asset Team, Adds Four High-Level Roles (CoinDesk): The asset manager advertised for a director of digital assets, director of regulatory affairs, vice president for digital asset and ETF legal counsel, and associate for digital assets.
Robinhood, Moving Beyond Meme Stocks, Now Wants to Be Your Bank (Bloomberg): Later this year in the U.S., Robinhood Gold subscribers will gain access to savings and checking accounts offering high yields, same-day cash delivery and services like estate planning.
Donald Trump's Cuts to US Government Raise Worries Over Economic Data Quality (Financial Times): Economists say the Department of Government Efficiency could undermine the quality of U.S. economic data by weakening agencies behind key indicators like inflation and jobs reports.
Studio Ghibli Craze Inspires Memecoins on Ethereum, Solana After OpenAI's 4o Release (CoinDesk): AI-generated art styled after Studio Ghibli films has gone viral, sparking the creation of Ghibli-themed cryptocurrencies, with ghiblification (GHIBLI) reaching a market cap of $21 million.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
25 minutes ago
- Bloomberg
How Does the UK's New Tax Policy Affect Where the Ultra Wealthy Live?
The end of the non-dom rule is sending millionaire Britons to new cities in the EU, but is it really a wealth exodus? (Source: Bloomberg)
Yahoo
an hour ago
- Yahoo
3 Warning Signs That It's Time to Sell Cardano
Cardano's competitors are attracting more attention, capital, and talent. They're also getting more adoption and perhaps more favorable regulatory treatment. Its latest tech upgrades aren't exactly wowing the market. 10 stocks we like better than Cardano › Few investments age gracefully when the world around them speeds up. The same pressure applies in crypto. Builders, investors, and users do not wait politely for laggards to catch up; they migrate to speed, liquidity, and, most of all, excitement. That reality now confronts Cardano (CRYPTO: ADA), which was once celebrated for its emphasis on peer-reviewed research to advance its underlying technology, as well as for its deliberate pace of technical progress. Three red flags, in particular, suggest that the project risks permanent middle-of-the-pack status unless something changes quickly. Let's check out each of these warning signs in detail. In the crypto world, developers are the lifeblood of a blockchain. They build decentralized apps (dApps), protocols, and tools that generate utility, liquidity, and real-world adoption. A thriving developer ecosystem attracts users, capital, and other partners, creating a virtuous cycle that drives a chain's value and growth. Without them, even the most technically sound chain can remain a ghost town. In terms of developer activity in Cardano's ecosystem, it doesn't hold up very well against its chief competitors, Ethereum and Solana. Per Cryptometheus, a cryptocurrency data provider, Solana had 499 active developers, and Cardano had just 175 developers pushing updates for the week, down 33% from three months ago. Furthermore, developers flow toward concentrations of capital, and that capital is pooling elsewhere. Fidelity, a major asset manager, filed in March to list a Solana exchange-traded fund (ETF). Bloomberg now pegs the approval odds of that ETF at 90% for 2025, which would be an institutional seal of approval that no Cardano product enjoys. Meanwhile, Solana's total value locked (TVL) on its chain was nearly $12 billion in January and currently rests at around $8.6 billion. Cardano's TVL is just $331.6 million, down from $680.8 million in early December 2024. That means there's less real money parked on its chain. And when builders, money, and regulators all prefer the other options, it's a big problem. Blockchains tend to have technical constraints. Sometimes, those constraints are troublesome enough for users that the main engineers of the chain create big new modules or other solutions in an attempt to prevent the flight of disaffected investors, users, or ecosystem developers. The success or failure of those solutions is, thus, often a major factor in determining whether to invest in the chain's native token. And in Cardano's case, the record with successfully developing workarounds to the chain's issues isn't great, at least not in recent times. Cardano's Layer-2 (L2) system, Hydra, dazzled testers with a 1 million transactions-per-second (TPS) demo last December, implicitly promising to solve the issue of lethargic transaction times during periods of peak load. L2s like Hydra are designed to handle transactions off the main blockchain, reducing congestion and perhaps also fees while maintaining security and interoperability. But they only matter if users adopt them and volume grows. Otherwise, they're tech demos, not adoption drivers. Five months after launch, no major exchange, payment processor, or other project has committed to using Hydra beyond a pilot. Another solution, called Midnight, is a side chain, which means it's a parallel network intended for specialized features such as privacy, among others. Side chains can extend a blockchain's functionality by providing specialized services that don't burden the main chain. Midnight aims to attract institutional users who want confidential holding of assets on the chain, but so far, no major financial players have signed on, and no real user base exists. These technical marvels might eventually matter. But until developers, institutions, or users adopt them, they remain tantalizing but empty promises. And that's a big warning sign that Cardano is failing to match its development of capabilities to the features that are actually in demand. Crypto is a popularity contest masquerading as a set of technologies. On June 4, Cardano counted around 23,273 daily active addresses, whereas Solana cleared nearly 5 million in the same day. That gap widens whenever meme coin mania or non-fungible token (NFT) drops spark traffic spikes. Those are segments where Cardano barely registers, as its ecosystem is very sparse in both areas. Social chatter mirrors the numbers. Per data from Santiment, a crypto data aggregator, Cardano ranks far below Ethereum and Solana in terms of social media post volume, hinting that investor excitement has simply remained elsewhere. If users, developers, and institutions are not talking about Cardano now, why would they flock to it later? In other words, Cardano's investment thesis -- that academic rigor in the tech development process will eventually lead to late-bloomer dominance -- faces mounting counter-evidence. Unless Hydra suddenly wins real traffic or Midnight lands marquee clients, the token's upside may remain capped while the opportunity cost mounts. And there's just not much evidence to suggest that's happening, nor is there any reason to believe it will soon. Before you buy stock in Cardano, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Cardano wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $868,615!* Now, it's worth noting Stock Advisor's total average return is 792% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Alex Carchidi has positions in Ethereum and Solana. The Motley Fool has positions in and recommends Ethereum and Solana. The Motley Fool has a disclosure policy. 3 Warning Signs That It's Time to Sell Cardano was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Newsweek
an hour ago
- Newsweek
NASCAR Teases Imminent Major Announcement Ahead Of Michigan Cup Race
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. NASCAR has confirmed that a major partner announcement will be made today at the Michigan International Speedway at 1 p.m. ET. The announcement comes during the NASCAR Truck and Cup Series race weekend in Michigan and will be made ahead of the Cup Series FireKeepers Casino 400, which begins at 2 p.m. ET. It stated in a media alert that, "A major NASCAR partner announcement will be made on the pre-race stage at Michigan International Speedway for fans and media in attendance." #NASCAR will announce a new major partner on the pre-race stage tomorrow at 1 PM ET before the FireKeepers Casino 400 at Michigan. Hmm... What could it be? 😂 — Toby Christie (@Toby_Christie) June 7, 2025 Although it has not been confirmed what the announcement will be, many expect it to be to confirm the return of Dodge RAM as a manufacturer to the Craftsman Truck Series. Stewart Friesen, driver of the #52 Halmar International Toyota, celebrates with a burnout after winning the NASCAR Craftsman Truck Series DQS Solutions & Staffing 250 Powered by Precision Vehicle Logistics at Michigan International Speedway on... Stewart Friesen, driver of the #52 Halmar International Toyota, celebrates with a burnout after winning the NASCAR Craftsman Truck Series DQS Solutions & Staffing 250 Powered by Precision Vehicle Logistics at Michigan International Speedway on June 07, 2025 in Brooklyn, Michigan. MoreIf the iconic American car brand returns to the sport, it will be the first time a RAM has raced in the Truck Series since 2016. Commissioner of NASCAR Steve Phelps previously explained to Sports Business Journal: "We are having robust discussions with a number of [original equipment] partners that someday, if I had to guess and were a betting man, something is going to hit. "I just don't know with whom or the timing of that. I know that's an answer I've given repeatedly over the last five years, but they're facts. There's no BS in the comment I just made." If this is true, Dodge RAM would join Toyota, Chevrolet, and Ford as the fourth OEM in the racing series. On top of the rumors of Dodge returning to the Truck Series, there is also speculation that YouTuber turned racer Cleetus McFarland (Garrett Mitchell) could be racing with the team. NASCAR Cup Series FireKeepers Casino 400: Starting Grid
