After former President Donald Trump made his unexpected announcement about tariffs, followed by a temporary 90-day pause on enforcement, the global financial markets were shocked into a sharp risk-off mode. Around the world, equities saw heavy selling. Even the crypto market—which is usually touted as a hedge against traditional financial instability—was not spared. In fact, Bitcoin tracked stock indices closely, while Ethereum, drawing attention to its growing volatility during macroeconomic uncertainty, suffered an almost 200% increase in losses compared to Bitcoin. Between the early tariff shock and the 90-day delay announcement, investors saw a swift decline across many asset classes.
The post Crypto and Global Markets Rattled by Tariff Shock: Ethereum Bears the Brunt appeared first on The Merkle News.
]]>The S&P 500 suffered a major blow on Thursday, dropping 4.02% in the wake of President Trump’s declaration of fresh tariffs. This sharp downturn is now among the index’s most substantial declines in recent times. Indeed, during the still-young 2020s, no fewer than five days have marked worse performances than this one. The most significant of these bad days include: – March 16, 2020: -11.98% – March 12, 2020: -9.51% – March 9, 2020: -7.60% – June 11, 2020: -5.89% – September 13, 2022: -4.32% After investors processed the announcement of new tariffs, worries about international trade and global economic
The post S&P 500 Drops Amid Trump’s Tariff Announcement, But Bitcoin Remains Resilient appeared first on The Merkle News.
]]>The cryptocurrency market has seen sharp fluctuations over the past several weeks. These recent ups and downs—along with some of the political and economic chatter that seems to have caused them—have been discussed across major social media platforms like X, Reddit, and others. Much of the conversation seems to have centered on U.S. President Donald Trump, whose rhetoric and actions—especially around subjects like tariffs, a proposed U.S. cryptocurrency strategic reserve, and other aspects of his economic policymaking—have seemed to inject a good deal of skepticism and volatility into the crypto community. Investors now find themselves in a landscape where market
The post Trump, Tariffs, and Market Uncertainty: How Political Developments Are Shaping the Crypto Landscape appeared first on The Merkle News.
]]>The market for cryptocurrencies has dropped sharply. The total market cap shrank 11.8% to $2.86 trillion on March 4. It was a day when traditional markets also sold off hard. What caused the downturn? Part of the picture is that Donald Trump, the former U.S. president and a man not shy about throwing shade on the digital asset space, made a speech on March 4 that sent markets reeling. From the 4.5% drop Bitcoin had whilst assembling its latest lower high, a push to the upside was met with significant resistance at $44,000. The cryptocurrency subsequently dropped appreciably and pierced
The post Crypto Market Faces Major Downturn Amid Tariff Announcements and Macroeconomic Concerns appeared first on The Merkle News.
]]>
Since the beginning of 2023, cryptocurrency miners operating in Kazakhstan are obliged to pay new fees for the power they need to mint digital coins. A surcharge introduced in 2021 now depends on the price of electricity consumed by bitcoin farms and can be much higher than the original levy. New Year Brings Higher Costs […]
Powered by WPeMatico
]]>
Authorities in Kazakhstan have calculated the energy used in the country’s crypto mining industry which competes for electricity with other sectors of the economy and households. The government has also estimated the additional supply necessary to meet the growing demand from mining farms and proposed a cap on the power rating of new facilities. Kazakhstan […]
Powered by WPeMatico
]]>
Authorities in Belarus and the Russian Federation are taking steps to separate cryptocurrency miners from other groups of power users and deny them access to subsidized energy. This could lead to the adoption of differentiated electricity rates for businesses involved in digital coin minting activities. Cryptocurrency Miners in Russia and Belarus May Face Higher Energy […]
Powered by WPeMatico
]]>
Members of the parliament in Kazakhstan have proposed the establishment of a state register for cryptocurrency farms operating in the country. Alarmed by the growing consumption of energy in the sector, the lawmakers also want to charge miners a higher price for the electricity they use. Mazhilis Members Want Miners in Kazakhstan to Register With […]
Powered by WPeMatico
]]>
The government of Kyrgyzstan has recently revised its electricity tariffs for various groups of consumers. Authorities in Bishkek have raised the rates at which crypto mining businesses buy power citing the energy-intensive nature of the coin minting process. Crypto Miners in Kyrgyzstan to Pay More for Electricity Companies operating crypto mining facilities in Kyrgyzstan will […]
Powered by WPeMatico
]]>