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📉 JUST IN: Bitcoin and Ethereum futures open interest dropped by $1.37B signaling a partial market reset, says CryptoQuant analyst Alex Adler.

Worries about a recession sent markets tumbling, hitting both stocks and crypto. On Black Monday, U.S. stock indices took a dive : the Dow shed 2%, the S&P 500 dropped 2.7%, and the Nasdaq nosedived 4%. Major firms like Tesla, Apple, and Nvidia all took a beating, with Tesla falling sharply by 15.4%. At the same time, Bitcoin slipped below $80,000, its second dip in three weeks, rattling investor nerves. Arthur Hayes, co-founder of BitMEX, has been flagging potential market corrections, especially for Bitcoin, for some time. Hayes previously suggested Bitcoin might drop to $75,000, a forecast that now looks increasingly possible. Recent reports show Bitcoin actually hit a low of $81,380, getting closer to Hayes’s predicted price level. In his latest comments , Hayes reiterated his belief that Bitcoin could fall even further if it hits the $75,000 mark. He also pointed to open interest around that price level as a warning sign, suggesting growing bearish sentiment in the market. Related: Bitcoin Price Crash? Arthur Hayes Predicts March Meltdown The market downturn is worsened by concerns about the U.S. economy. Treasury Secretary Scott Bessent recently cautioned about a potential “detox period” as the new administration works to cut government spending. Adding to the unease, U.S. President Trump stated the economy is going through a “transition period,” further fueling investor uncertainty. Adding to the gloom, Goldman Sachs lowered its U.S. growth forecast, citing risks from new tariffs. New York Federal Reserve data shows inflation expectations at 3.13%, increasing worries about the U.S. economic outlook. Bitcoin’s continued decline highlights its struggle to decouple from traditional asset markets. Mintology CEO Zach Burks pointed out that Bitcoin, once considered a safe haven, is now viewed as a high-risk asset. Despite the downturn, technical indicators hint Bitcoin may be nearing a short-term rebound. The RSI, currently at 37.60, is approaching the oversold zone of 30, which often signals a possible price reversal. Related: US Stock Market on Edge of a Bull Run, Says Crypto Firm Moreover, the MACD remains negative, confirming bearish momentum. Still, if buying pressure picks up, these indicators could signal a trend change, possibly leading to a recovery. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

The latest U.S. jobs report has sparked speculation that the Federal Reserve may adopt a more dovish stance, potentially benefiting global equities and cryptocurrencies, including bitcoin. Weaker-than-expected employment growth in February has reinforced calls for rate cuts, yet persistent inflationary pressures linked to tariffs and supply-chain disruptions may temper the Fed’s decision-making. Fresh data from the U.S. Labor Department shows that only 151,000 non-farm jobs were added in February, marking the weakest growth for this month since 2019. This underwhelming figure missed economists’ projections of 170,000 new jobs, sparking concerns about a slowing labor market. Analysts caution that factors such as government job cuts, reduced federal spending, and tighter immigration policies could further slow hiring in the coming months, potentially reinforcing disinflationary trends. A Nexo analyst emphasized that worsening labor market conditions might push the Federal Reserve toward interest rate reductions to prevent a deeper slowdown. However, inflation risks arising from geopolitical uncertainty and persistent supply chain bottlenecks could complicate the Fed’s decision-making process. While slowing employment growth strengthens the case for rate cuts, inflationary risks continue to pose challenges for the Fed. Paul Howard, Senior Director at Wincent, noted that the weaker jobs report supports the notion that monetary easing may be necessary to stimulate economic activity. Additionally, managing the growing national deficit remains a key priority for policymakers, which could have implications for risk assets such as cryptocurrencies. Kirill Kretov, Trading Automation Expert at CoinPanel, pointed out that a rising unemployment rate could increase the likelihood of Federal Reserve rate cuts, thereby improving liquidity conditions for bitcoin and decentralized finance (DeFi): “Slightly weaker wage growth suggests easing inflationary pressures, making an earlier Fed pivot more plausible,” Kretov explained. The likelihood of rate cuts is already shaping market expectations. According to the CME FedWatch tool, traders assign a 55.3% probability to a rate cut as early as the June Federal Open Market Committee (FOMC) meeting. This outlook aligns with the Atlanta Fed’s GDPNow model , which has revised its Q1 2025 forecast to a 2.4% annual contraction, raising concerns about a potential recession. QCP Capital analysts noted a bearish sentiment in the derivatives market, as risk reversals have seen increased demand for put options. “Options flows suggest a more bullish outlook could emerge later in the year, but near-term sentiment remains cautious,” they stated. Despite the potential for monetary easing, volatility remains high across financial markets. As reported by BitcoinBázis, bitcoin and ether have both declined by approximately 3% in the past 24 hours and are down around 10% over the past week. Meanwhile, U.S. equity futures are also signaling weakness, with Dow Futures down 0.88%, S&P 500 Futures down 1.11%, and NASDAQ Futures down 1.24% in pre-market trading. With key U.S. inflation data releases on the horizon, such as the Consumer Price Index (CPI) on Wednesday and the Producer Price Index (PPI) on Thursday, analysts expect market fluctuations to persist. As investors assess the Fed’s next move, the interplay between economic slowdown concerns and inflationary risks will likely dictate the trajectory of bitcoin and broader risk assets in the coming months.

US MARKET AT OPENING. #NASDAQ OPEN GREEN AFTER YESTERDAY 4% BLOODBATH

Axelar Foundation $AXL raises $30M to expand interoperability The Axelar Foundation has raised $30 million through AXL token sales, with backing from Arrington Capital, Electric Capital and others. Some tokens came from community program allocations and are subject to six to 12-month lockups. The funds will help expand stablecoin access and support institutional tokenization of real-world assets (RWAs). Axelar, an interoperability protocol competing with Wormhole and LayerZero, aims to connect institutional private blockchains while maintaining a permissionless, non-custodial and open-source framework, The Block reported.