Weekend Close Summary in the Crypto World
The weekend in the crypto world was marked by volatility and macroeconomic uncertainty with a strong political component. The suspension of Trump’s tariffs on his trade partners ended on Friday, which reignited concerns about the global economy and affected investor confidence. As a result, the crypto market experienced a decline, with the global market dropping nearly 6% in 24 hours. Bitcoin fell below the $113,000 mark, although it showed signs of recovery by Sunday’s close, surpassing the $114,000 threshold again.
Despite the market downturn, the confidence of some whales, large investors, was not affected. Activity was reported from a Bitfinex whale that bought 300 BTC per day during the decline, demonstrating a buy the dip strategy. This stance was reinforced by figures like Eric Trump, who also posted a message on X encouraging buying during the dip.
In the political arena, the focus remains on regulation. Following the recent Crypto Week at the U.S. Capitol, the industry continues to seek clarity in a regulatory framework. The new Trump administration remains a key player, with the SEC pushing for regulatory initiatives and the Trump family involved in their own crypto ventures, raising questions about potential conflicts of interest.
In summary, the weekend was a mix of macroeconomic uncertainty and reactive market movements, but also signs of long-term confidence from major investors despite political and regulatory challenges.
