by | Mar 4, 2025 | Business
Discover how Trump’s new tariffs on Canada, Mexico, and China are shaking up financial and cryptocurrency markets. Explore Bitcoin’s price swings, stock market reactions, and global trade tensions impacting investor sentiment. Stay informed on the latest economic shifts and market volatility.
The crypto market and traditional financial markets experienced significant volatility following President Donald Trump’s announcement of new tariffs on Canada, Mexico, and China.
Stocks tied to cryptocurrencies initially surged before facing a sharp decline, while Bitcoin itself saw drastic price fluctuations. The broader economic landscape is also feeling the pressure as global trade tensions escalate.
Bitcoin’s Volatility Amidst New Trade Tariffs
In early trading, Bitcoin surged past $93,000 before settling around $86,200, after previously dipping to a three-month low below $80,000 on Friday.
However, as market uncertainty deepened, Bitcoin was last seen down 8.58% at $82,775.96. This volatility reflects investors’ concerns over economic policies affecting liquidity and risk appetite.
Shares of major crypto-related firms experienced similar fluctuations. MicroStrategy (MSTR), a major Bitcoin holder, initially gained more than 10% in morning trading before closing nearly 2% lower.
Coinbase Global (COIN) and Riot Platforms (RIOT), a Bitcoin mining company, surrendered earlier gains and closed down more than 4%.
Trump’s Tariffs and Their Immediate Impact
On March 4, 2025, the Trump administration implemented sweeping tariff increases:
- 25% tariffs on imports from Canada and Mexico
- 20% tariffs on imports from China
These trade restrictions were positioned as measures to counteract illicit drug activities and encourage domestic production. However, they have led to immediate disruptions in financial and cryptocurrency markets.
Within the first hour of the announcement:
- Bitcoin (BTC) fell 3.7% from $67,200 to $64,650, with a 15% surge in trading volume to $45 billion.
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Ethereum (ETH) dropped 3.2%, from $3,850 to $3,725, with trading volume up 12% to $22 billion.
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The Bitcoin to US Dollar (BTC/USD) pair saw an 18% increase in trading volume to $30 billion, signaling heightened volatility.
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The Fear and Greed Index for cryptocurrencies fell from 55 to 48, indicating increased investor fear.
Global Stock Markets React to Trade Tensions
The stock market faced its sharpest losses of the year following the tariff announcement. On Tuesday:
- The S&P 500 fell 0.7% at opening, adding to Monday’s 1.8% decline—the worst drop of 2025 so far.
2. The Nasdaq Composite came close to a 10% decline from its all-time high, making February its worst-performing month since April 2024.
- European markets also tumbled, with declines in Britain’s FTSE 100, Germany’s DAX, and the Euro Stoxx 50.
China, Canada, and Mexico Respond with Countermeasures
In response, China, Canada, and Mexico have announced retaliatory tariffs, intensifying global trade tensions:
- China imposed a 15% tariff on U.S. chicken, wheat, corn, and cotton and a 10% tariff on soybeans, pork, beef, and other agricultural products.
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Canada enacted 25% tariffs on $30 billion worth of U.S. goods and plans to expand them to $125 billion within three weeks.
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Mexico has vowed to announce its own countermeasures on Sunday, as President Claudia Sheinbaum condemned the U.S. tariffs.
Economic Outlook and Investor Sentiment
These trade conflicts come at a precarious time for the U.S. economy:
- Consumer spending unexpectedly declined in January, suggesting reduced purchasing power.
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Inflation remains stubbornly high, with rising prices further straining households.
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The labor market is showing signs of stagnation, with jobless claims exceeding expectations and federal layoffs adding to economic concerns.
Conclusion: A Market in Flux
Trump’s aggressive tariff policies are reshaping global trade dynamics, injecting new volatility into both traditional and cryptocurrency markets. Bitcoin, often viewed as a hedge against financial instability, has seen rapid fluctuations as investors assess the long-term implications of heightened economic uncertainty.
With global markets on edge, traders and investors will closely monitor upcoming economic data, including the February jobs report, for further signs of economic resilience—or distress.
As retaliatory measures unfold, the cryptocurrency market may continue to serve as a barometer of investor sentiment amid geopolitical and economic uncertainty.
by | Mar 4, 2025 | Business
XRP plunges 16% as Trump’s tariffs and mass liquidations rattle the crypto market. Discover key support levels, liquidation data, and the impact of Trump’s U.S. Crypto Strategic Reserve on XRP’s future. Will XRP rebound or face further declines?
The cryptocurrency market is experiencing a broad sell-off, with XRP mirroring the bearish sentiment. Over the past 24 hours, XRP has dropped 16% to trade at $2.32, effectively erasing all the gains made on March 2.
This decline comes amid wider market volatility triggered by geopolitical and economic factors, notably U.S. President Donald Trump’s newly implemented tariffs.
XRP Leads Crypto Market Bloodbath
XRP’s sharp decline is in line with a broader market sell-off as investors react to Trump’s tariffs on imports from Canada, Mexico, and China.
The cryptocurrency market has collectively lost 8% of its value, bringing the total global market capitalization down to $2.76 trillion.
Key Market Declines:
- Bitcoin (BTC) has fallen 10% over the last 24 hours, trading at $83,500, marking a 3% drop from pre-tariff levels.
- Ethereum (ETH) has tumbled 12%, now hovering just above $2,000.
- XRP, along with Solana (SOL) and Cardano (ADA), has suffered the steepest losses among the top 10 cryptocurrencies.
The risk-off sentiment among investors stems from fears of tighter economic conditions and the broader implications of Trump’s trade policies.
Over $50 Million in Long XRP Positions Liquidated
The sharp decline in XRP’s price has led to massive liquidations in the derivatives market. In the past 24 hours alone, nearly $58 million worth of XRP futures positions have been liquidated, with long liquidations accounting for $50 million.
This underscores the strong selling pressure currently dominating XRP’s price action.
Key Liquidation Data:
- $49.7 million in long positions wiped out, compared to $8 million in short liquidations.
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A similar liquidation event occurred between February 24 and February 26, erasing $80 million in long positions and causing a 17% price drop.
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XRP’s open interest (OI) has fallen 25% from $4.45 billion on March 3 to $3.34 billion, signaling waning trader participation.
The funding rate has turned negative, dropping from 0.0103% to 0.00032%, reflecting weakened bullish sentiment.
Key Technical Levels: Can XRP Hold Above $2.20?
With XRP’s price facing intense bearish pressure, key support and resistance levels could dictate the next move.
Key Levels to Watch:
1. Support: $2.20 remains a crucial psychological support level. A breakdown could see XRP test $1.76 (February 3 low) and potentially $1.55, where the 200-day simple moving average (SMA) resides.
2. Resistance: A decisive move above $2.48, where the 100-day SMA and the upper boundary of the descending channel meet, is necessary to reignite bullish momentum. If achieved, XRP could revisit $3.00.
Trump’s Strategic Crypto Reserve Sparks Brief XRP Rally
Despite the bearish market sentiment, XRP witnessed a brief surge near $3 following President Trump’s announcement of a U.S. Crypto Strategic Reserve.
The plan includes XRP, alongside Bitcoin, Ethereum, Solana, and Cardano, as part of a national stockpile of digital assets. The announcement drove a 34% spike in XRP’s price, adding $44 billion to its market capitalization.
Can XRP Reach $5 Under Trump’s Presidency?
The inclusion of XRP in the U.S. Crypto Strategic Reserve has fueled speculation about whether it could finally surpass the elusive $5 mark. Analysts highlight three critical factors influencing XRP’s price trajectory:
1. Further Details on the Crypto Reserve: A clear regulatory framework could increase institutional adoption.
2. SEC vs. Ripple Case: If the SEC drops its appeal, XRP could surge past its 2021 all-time high of $3.40. However, continued legal uncertainty may drag XRP down to $1.50.
3. Potential Approval of an XRP Spot ETF: Institutional inflows from an ETF could act as a major bullish catalyst.
Market Reactions: Industry Leaders Weigh In
The strategic crypto reserve proposal has sparked debate among industry leaders. Coinbase CEO Brian Armstrong has suggested that Bitcoin alone should be included, arguing it serves as the best store of value.
Meanwhile, Bitwise CEO Hunter Horsley and Gemini co-founder Tyler Winklevoss expressed skepticism about the inclusion of multiple cryptocurrencies.
Conclusion: A Volatile Road Ahead for XRP
XRP’s price action remains highly volatile, with macroeconomic factors, liquidation events, and regulatory developments influencing its trajectory.
The next key event to watch is Trump’s Crypto Summit on Friday, where more details about the strategic reserve could emerge. Until clearer policies are established, XRP traders should brace for continued market fluctuations.
by | Mar 4, 2025 | Business
Rockstar Games® is proud to announce the acquisition of Video Games Deluxe, the Sydney-based development studio. The studio will be renamed Rockstar Australia. Video Games Deluxe has worked with Rockstar Games on some of its most memorable titles, including the 2017 re-releases of L.A. Noire, L.A. Noire: The VR Case Files, and most recently, on upgrades to Grand Theft Auto: The Trilogy – The Definitive Edition for iOS and Android, Netflix, and modern consoles.
“After working together closely over many years, we are excited to have Video Games Deluxe join the team as Rockstar Australia,” said Rockstar Games Head of Publishing, Jennifer Kolbe.
Rockstar Games’ relationship with the Video Games Deluxe team began with founder Brendan McNamara’s former studio, Team Bondi, and the creation of the critically acclaimed and groundbreaking detective thriller, L.A. Noire.
“It’s been an honor to work closely with Rockstar Games this past decade,” said Video Games Deluxe founder Brendan McNamara. “We are thrilled to be a part of Rockstar Games and to continue our efforts to make the best games possible.”
by | Mar 4, 2025 | Business
In celebration of Ramadan, Karaoke Manekineko is offering an exciting and affordable promotion to make your gatherings more memorable. From March 2 to March 30, 2025, customers can enjoy 1-hour karaoke sessions for just RM6 per person, available Monday to Sunday before 7 PM. This special pricing is open to everyone, making it the perfect opportunity to unwind and share joyful moments with friends and family during the festive season.
For a more complete
experience, guests can add free-flow drinks and tidbits for just RM3 per
person. This optional add-on allows you to enjoy unlimited refreshments
while singing your favorite songs. Whether you’re planning a casual hangout
during the day or looking for a fun activity before Buka Puasa, this
promotion offers great value and a fun-filled experience. Enjoy affordable karaoke
sessions with friends and family while taking advantage of this special daytime
offer.
After 7 PM,
regular pricing will apply for all customers. This flexible promotion lets you
enjoy affordable daytime entertainment while still experiencing Karaoke
Manekineko’s premium karaoke sessions in the evening.
Promotion Details:
– 1-hour karaoke session: RM6 per
person (Monday to Sunday, before 7 PM)
- Add-on: RM3 per person for free-flow
drinks and tidbits
– Regular pricing resumes after 7 PM
– Promotion period: March 2
to March 30, 2025
– Available at all Karaoke Manekineko outlets
Terms & Conditions:
- Prices are exclusive of 8% SST and 10% service
charges.
- The RM6 rate applies only before 7 PM.
Celebrate Ramadan
with the joy of music at Karaoke Manekineko—a place where everyone can
sing, relax, and make lasting memories!
by | Mar 4, 2025 | Business
Karaoke Manekineko invites you to celebrate the spirit of togetherness this Ramadan with its Sajian Nusantara Ramadan Menu and Ala-Carte Buffet, available from March 2 to March 30, 2025. Combining the joy of singing with delicious, traditional Malaysian cuisine, these special offerings are perfect for breaking fast with family and friends.
The Sajian Nusantara Ramadan Menu features a variety of
comforting, authentic dishes inspired by Malaysian favorites. Each meal comes
with complimentary dates, adding a traditional touch to your Buka Puasa
experience. Menu highlights include:
– Lontong with Kuah Kacang – RM19.80++: A classic dish featuring compressed rice cakes in
a rich and savory peanut sauce.
– Nasi Impit with Kuah Kacang – RM15.00++: Soft rice cubes served with creamy, flavorful
peanut sauce.
– Ayam Masak Merah with Steamy
Rice – RM19.80++: Tender chicken cooked in a
spicy, tangy tomato-based sauce, paired with fluffy steamed rice.
– Kapitan Chicken Curry with
Fragrance Rice – RM19.80++: Aromatic chicken
curry with a rich blend of spices, served with fragrant rice.
– Chicken Cooked with Coconut
Milk with White Rice – RM15.00++: A comforting
dish of chicken simmered in creamy coconut milk, served with white rice.
– Durian Mochi-Mochi – RM9.80++: A delightful dessert featuring soft, chewy mochi
filled with rich durian paste.
All prices are exclusive of 6% SST and 10% service charges.
With a range of savory and sweet offerings, there’s something to satisfy every
craving.
For those wanting a wider variety, the Sajian Nusantara Ala-Carte
Buffet provides an all-you-can-eat experience paired with a fun karaoke
session. Priced at RM68++ per person, the buffet includes a 3-hour
singing session, making it the perfect option for large groups and families
looking to enjoy an evening of food and entertainment.
Buffet items include local favorites and international bites such
as:
- Lontong with Kuah Kacang
- Nasi Impit with Kuah Kacang
- Salad Rolls
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Chicken Nugget and Fries
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Takoyaki Balls
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Sausage Rolls
-
Fries (200g)
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Kapitan Chicken Curry with
Fragrance Rice
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Ayam Masak Merah with Steamy Rice
-
Chicken Cooked with Coconut Milk
with White Rice
-
Durian Mochi-Mochi
Participating
Outlets:
The Ala-Carte Buffet is available at the following Karaoke Manekineko
locations:
– Paradigm Mall, PJ
– Central i-City
– Sunway Putra Mall
– Nu Sentral
– Berjaya Times Square
Terms & Conditions:
– Minimum 2 persons required to enjoy the buffet package.
- Each customer may order up to 3
servings per round. New orders can only be placed once the current
servings are finished.
– Ala-Carte Buffet is available
from 7:00 PM until closing time.
– No takeaways are allowed – all food must be consumed in the karaoke room.
A Unique Buka Puasa Experience
Karaoke Manekineko’s Ramadan offerings provide a unique and
entertaining way to break your fast. Enjoy a feast of traditional flavors while
singing your heart out in a private karaoke room. With a cozy atmosphere and a
wide range of dishes, it’s the perfect place to gather your loved ones for a
memorable Iftar.
Whether you choose the Sajian Nusantara Ramadan Menu for a
quick and satisfying meal or indulge in the Ala-Carte Buffet for a more
elaborate dining experience, Karaoke Manekineko promises a delightful
celebration of food, music, and joy.
Reserve your spot today and make this
Ramadan truly special with Karaoke Manekineko!
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