At the moment in crypto, US President Donald Trump will host the primary White Home Crypto Summit on March 7, bringing collectively business leaders to debate rules, stablecoins and Bitcoin reserve laws, the Chicago Mercantile Alternate (CME) Group introduced the launch of Solana futures contracts in March, and world commerce considerations proceed pressuring investor sentiment, risking a possible Bitcoin correction beneath the important thing $75,000 assist stage.
Trump to host first White Home crypto summit on March 7
US President Donald Trump will host the primary White Home Crypto Summit on March 7, bringing collectively business leaders to debate regulatory insurance policies, stablecoin oversight, and the potential function of Bitcoin within the US monetary system.
The attendees will embody “outstanding founders, CEOs, and traders from the crypto business,” together with members of the President’s Working Group on Digital Belongings, in line with an announcement shared by the White Home “AI and crypto czar,” David Sacks, in a March 1 X submit.
The summit shall be chaired by Sacks and administered by Bo Hines, the chief director of the Working Group.
Supply: David Sacks
Sacks was appointed White Home Crypto and AI and Czar on Dec. 6, 2024, to “work on a authorized framework so the Crypto business has the readability it has been asking for, and might thrive within the U.S.,” Trump wrote within the announcement.
Chicago Mercantile Alternate Group to launch Solana futures on March 17
The Chicago Mercantile Alternate (CME) Group, a globally acknowledged derivatives change, introduced it can launch Solana (SOL) futures contracts on March 17, pending a assessment by United States monetary regulators.
Based on the Feb. 28 announcement, market contributors may have entry to micro contracts of 25 SOL or normal contract sizes of 500 SOL, and all contracts shall be cash-settled.
CME Group already supplies futures and choices contracts for Bitcoin (BTC) and Ether (ETH) to traders trying to hedge in opposition to the extremely risky nature of those digital property.
The addition of Solana futures contracts provides conventional finance traders further publicity to the crypto markets and supplies the crypto markets with contemporary capital injections that ought to assist costs.
CME open curiosity on derivatives contracts quarter-by-quarter 2024. Supply: CME Group
Bitcoin dangers deeper drop if $75K assist fails amid macro considerations
Bitcoin dangers extra draw back if it loses a “key” $75,000 assist amid rising considerations over a possible commerce conflict between the USA and China.
Bitcoin’s (BTC) value has fallen greater than 6.5% in the course of the previous 24 hours to sink beneath a low of $78,197, which was final seen on Nov. 10, 2024, Cointelegraph Markets Professional information reveals.
Analysts attribute the present decline to macroeconomic considerations associated to a possible commerce conflict between the US and China brought on by US President Donald Trump’s resolution to impose import tariffs.
BTC/USD, 1-year chart. Supply: Cointelegraph
These macroeconomic considerations had been the principle purpose for Bitcoin dropping the $80,000 assist, in line with Ryan Lee, chief analyst at Bitget Analysis.
The analyst instructed Cointelegraph:
“Bitcoin’s drop beneath $80,000 amid investor concern from Trump’s tariffs and market unrest, factors to a correction probably hitting $76,000-$78,000 this week, nearing $75,000 as a key assist stage based mostly on historic patterns and dealer sentiment.”
Nonetheless, some analysts are involved that Bitcoin’s correction might even see the world’s first cryptocurrency revisit $70,000.
Based mostly on its correlation with the worldwide liquidity index, Bitcoin’s right-hand aspect (RHS), which marks the bottom bid value somebody is prepared to promote the forex for, could fall beneath $70,000 across the finish of February, after it peaked close to $110,000 in January.
