Global Market Highlight
The latest economic data paints a positive picture of the U.S. economy, with job openings exceeding expectations, inflation cooling, and strong demand for 10-year Treasuries, suggesting market confidence in stable interest rates. The January 2025 JOLTS report showed job openings rising to 7.74 million, higher than forecasts, while the quits rate ticked up, signaling worker confidence.
Additionally, initial jobless claims declined, reinforcing the strength of the labor market. Inflation data was better than expected, with core CPI rising just 0.2% in February, easing from the previous month. The annual inflation rate fell to 2.8%, lower than market estimates, reducing concerns over aggressive Fed rate hikes. Producer prices were also flat, marking the slowest pace in seven months.
Meanwhile, the 10-year Treasury auction saw strong demand, with the bid-to-cover ratio rising to 2.59, and yields falling—indicating investor optimism about stable or even lower interest rates. However, the 30-year bond auction was weaker, leading to higher yields and potential pressure on risk assets. Overall, the data suggests a resilient labor market, easing inflation, and steady rate expectations, which could support market sentiment, especially in equities and crypto.
Trump’s Tariff War: Escalating Global Trade Tensions
President Donald Trump’s aggressive tariff policies are escalating global trade tensions. He has imposed 25% tariffs on steel and 10% on aluminum from nearly all countries, including Canada, Mexico, and the EU. Additionally, he has targeted Chinese products like pharmaceuticals, metals, and machinery with a 10% tariff and is considering duties on agricultural products and foreign cars.
While these measures aim to reduce the U.S. trade deficit, they have triggered retaliatory tariffs from affected countries, with the EU imposing $28 billion in counter-tariffs. Trump has also doubled tariffs on Canada in response to Ontario's electricity export fees.
BTC Technical Analysis
Bitcoin (BTC) has been in a consolidation phase after experiencing significant bearish pressure earlier. On March 9, BTC saw a sharp decline, reaching a low of around $76,606 before showing signs of recovery. During this period, the price has been trading within a limited range, with a local resistance forming around the area marked with an orange box on the chart.
Currently, BTC is trading around $83,453, still below the descending trendline (dotted line) that has acted as dynamic resistance since early February. A key level to watch is the horizontal resistance around $93,227, which previously acted as support and could now be a critical zone for bulls to push the price higher. Meanwhile, the main support level is at $76,606, and if this level breaks, BTC may retest the liquidity zone in the $71,500-$75,000 range (yellow zone).
For now, price movement remains constrained by short-term resistance, and a breakout above the orange box area could be an early bullish signal. However, unless BTC can break above the descending trendline and sustain a price above $93,227, the short-term trend remains bearish or sideways.
ETH Technical Analysis
Ethereum (ETH) has been in a downtrend since mid-February 2025, forming lower highs and lower lows. Currently, ETH is trading around $1,896.38, with a recent low at $1,754.28. A key resistance area is visible around $2,100-$2,200, where previous support has turned into resistance. Additionally, a dotted purple trendline suggests potential dynamic support near $2,200. If ETH can reclaim the $2,100-$2,200 zone, it could indicate a bullish reversal, leading to higher price targets. However, if the price fails to hold above $1,754, further downside pressure could emerge. At the moment, ETH appears to be consolidating, and a breakout in either direction will likely determine its next major move.
SOL Technical Analysis
Solana (SOL) is currently trading at $128.83, showing signs of consolidation after a recent decline. The price recently tested a support zone around $130 (marked in green), which has acted as a demand area. If this level holds, SOL may attempt a recovery toward the $150-$160 region. However, strong resistance is seen around $165-$175 (marked in yellow), where price previously struggled. A break above this resistance could indicate bullish momentum, while failure to hold above the support zone may lead to further downside. Traders should watch for volume confirmation and breakout signals for clearer direction.
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