March 9, 2025
A Mixed Bag
Despite President Trump’s promise to create a ‘Strategic Bitcoin Reserve’, BTC fell to $85,300, showing its unpredictable nature. It later rebounded slightly to $86,100, marking a 2.5% loss for the day.
Meanwhile, many altcoins have performed worse than BTC, with Ripple (XRP) down 5.5%, Cardano (ADA) 6%, and Chainlink (LINK) 9%. However, TRON (TRX), Pi Network (PI), and Litecoin (LTC) posted some gains.
Source: CoinMarketCap
The total market cap stands at about $2.93 trillion, down 4% for the day, according to CoinGecko.
Other Markets
Investors who supported Trump’s pro-growth policies are now facing the consequences as his economic approach becomes clearer, as the administration is shifting to a no pain, no gain message. Meanwhile, India struggles with lingering pessimism after a $1.3 trillion market loss, and China’s inflation has fallen below zero for the first time in a year.
Inflation-linked bonds are rebounding, partly due to Trump’s tariffs, while oil markets have turned bearish, with speculators betting on further declines. In Mali, Randgold Resources CEO Mark Bristow visits the Loulo-Gounkoto mines as the government resumes granting mining permits after more than two years.
Trump’s NIH budget cuts are also causing concern in the scientific community, while DBS Bank reported strong profits but faced major service disruptions. The 2025 World Economic Forum has kicked off, and lastly, Millennium Capital suffered a $900 million loss from market volatility.
