Trump’s trade policy has yielded a risk-off mood in the crypto market with the fear & greed index remaining on the fear end of the spectrum. As such, most majors and meme coins alike have recorded double-digit losses in recent months. Investors are now keen on the Fed’s tone at the end of the two-day meeting on Wednesday. 

Even so, there is a revolutionary project whose appeal remains undeterred by the current economic uncertainties. Bitcoin Pepe has maintained its upward momentum as savvy investors rush to be part of this project which assures hefty gains during and after its presale. 

Trump’s tariffs push Dogecoin buyers to the sidelines

The risk aversion observed in the crypto market has impacted majors and meme coins alike. As President Trump threatens of even more aggressive tariffs, crypto buyers have stayed on the sidelines waiting for further guidance from the March Fed meeting. 

In the near term, Dogecoin price will likely remain within the range of between the four-month low of $0.1439 and ythe resistance zone at $0.1804. Even with further rebounding, its gains may be curbed along the 25-day EMA at $0.1954.

Bitcoin Pepe maintains upward momentum despite risk aversion in the crypto market

Amid the ongoing crypto revolution, most of the recently launched meme projects are more than just a token that starts as a joke and goes viral. They focus on a particular need with the overall goal of revolutionizing the cryptocurrency space. 

Bitcoin Pepe is one such project. Its mission is to build “Solana on Bitcoin”, which will have investors enjoy the stability and security of the Bitcoin network and the Solana-like transaction speed. Besides, with the new PEP-20 standard, it will enable one to directly launch a memecoin on the most reliable network. 

Indeed, introducing the meme culture to the Bitcoin network is seen to be the missing puzzle. It is what has fueled Bitcoin Pepe’s virality as more savvy investors are rushing to be part of this revolutionary wagon. Subsequently, the project has raised over $5.5 million in the past five weeks of its presale. 

Besides, its pricing model is meant to favor long-term holders and early adopters. With every stage sold, BPEP token price increases by about 5%. What started at $0.0210 has already surged by 27.6% and is set to yield cumulative gains of 311.4% by the end of the 30 stages. As such, this is the opportune time to be part of a project that will have its holders earn heftily during the presale and beyond. Hurry up and buy Bitcoin Pepe here.

Bitcoin price remains range-bound as the March Fed meeting commences

Bitcoin price has been range-bound for over a week now as Trump’s aggressive trade policy maintains a risk-off mood. Investors are now eyeing further guidance from the Fed’s March meeting which commenced on Tuesday.

In the FOMC statement scheduled for Wednesday, the interest rates are expected to remain unchanged at the current 4.25% – 4.50%. However, the focus will be on the central bank’s tone on the impact of Trump’s tariffs on the country’s economy. 

In the near term, the range between the support level of $80,565 and the 25-day EMA at $86,500 will be worth watching. Depending on the Fed’s tone, further rebounding will give the bulls an opportunity to retest the crucial resistance zone of 90,000. On the flipside, further risk aversion may have Bitcoin price retest last week’s low at $78,039.

Major coins were in the red on Thursday evening as risk aversion made a comeback on the market. The global cryptocurrency market cap dropped 2.6% to $844.85 billion at 7:33 p.m. EST.

See Also: 2022 Robinhood Review — Stocks and Crypto For Beginners 

Why It Matters: Risk assets, including Bitcoin and Ethereum, were seen under pressure. The Dow Jones Industrial Average fell over 760 points on Thursday. The S&P 500 and Nasdaq were down 2.5% and 3.2% respectively intraday. 

Investors will be on the lookout for cues from Federal Reserve speakers John Williams, Michelle Bowman, and Mary Daly in the coming days to gauge the hawkishness of the central bank.

On Wednesday, the U.S. Federal Reserve announced a 50-basis point hike in rates. Chair Jerome Powell said, “We may have to raise rates higher to get where we want to go.”

On Thursday, The European Central Bank and The Bank of England followed by raising interest rates by 50 bps each.

“Bitcoin is softening as risk aversion hits Wall Street after major central banks signal that more work needs to be done to combat inflation. Bitcoin’s weakness is somewhat limited and won’t draw much attention unless price action dips below the $16,800 level,” said Edward Moya, a senior market analyst with OANDA.

Michaël van de Poppe told his followers on Twitter that they should see if Bitcoin can hold the $17,100 to $17,300 level. “Otherwise buyers are not stepping in and potentially more trouble is going to come,” said the cryptocurrency trader.

Ethereum appears to be in a “bearish fakeout” above the $1,300 mark, according to trader Justin Bennett. At the time of writing the second-largest coin was below that level at $1,270.84.

Meanwhile, several altcoins are still seeing bit “upticks” in address activity, according to Santiment. The market intelligence platform said that dormant wallets are awakening to move their funds right now. 

Santiment pointed to increased network activity in Yearn.Finance (YFI) and Uniswap (UNI) as such examples.

Read Next: Bitcoin, Dogecoin Or Litecoin: Who Will Reign Supreme In Battle For Speed, Cost-Effective Payments?

The crypto market is still reeling as a result of risk aversion triggered by Russia’s invasion of Ukraine.

On Monday, Bitcoin (BTC) fell for the sixth time in six days. It has again failed to break beyond the $40,000 barrier.

Bitcoin peaked at $39,536 before plummeting to a low of $37,192. It completed the day around $38,850, having found support at $37,000.

The news that the White House is set to issue the long-awaited crypto executive order shook crypto proponents on Monday.

Crypto EO Comin’ Up

According to a source close to the matter, United States President Joe Biden is expected to sign a long-awaited executive order this week directing the Justice Department, Treasury, and other agencies to examine the legal and economic consequences of creating a US central bank digital currency.

The broader cryptocurrency market had a turbulent day.

BNB outperformed the market, rising 1.51%, while ADA (-3.51%) and SOL (-3.41%) underperformed.

AVAX (-0.96%), ETH (-2.31%), LUNA (-1.72%), and XRP (-0.56%) have all declined in tandem with Bitcoin.

BTC total market cap at $740.16 billion on the daily chart | Source: TradingView.com

Related Article | Bitcoin Prices Dragged Down By Geopolitical Tensions, Ukraine Nuke Plant Bombing

EO To Ban Crypto?

According to reports, Biden will sign an EO banning or limiting cryptocurrencies.

The move comes in the face of growing concern about Russian elites’ use of cryptocurrencies to avoid Western sanctions that have cut Russia off from large parts of the global economy, and moves by China and other countries to develop their cryptocurrencies.

There is a possibility that this will be the first step toward the formation of a CBDC.

An administration official, according to a source, said that such a move would have broad support from within Biden’s inner circles.

Related Article | Bitcoin Falls Back To $38,000 As Russia Steps Up Bombardment Of Ukraine

Following Biden’s directive, the Justice Department said it would look into whether new legislation is required to establish a new currency, with the Federal Trade Commission, the Consumer Financial Protection Bureau, and other agencies analyzing the effect on consumers.

It is expected that further study will be conducted on the role that cryptocurrencies will have on the broader market and the environmental impact of bitcoin mining in the future, according to the source.

Last year, US Treasury Secretary Janet Yellen warned of an “explosion of danger” from digital markets, particularly the abuse of cryptocurrencies, but she also said that new financial technology may be useful in the battle against crime and injustice in the country.

Wozniak Supports Bitcoin

Meanwhile, Apple co-founder Steve Wozniak refers to Bitcoin as “pure-gold mathematics,” and the rationale demonstrates why crypto may be here to stay.

Wozniak said he supports bitcoin but is skeptical about alternative cryptocurrencies and non-fungible tokens.

Although he did not explain why he is interested in Bitcoin’s mathematics, he most likely appreciates that the calculations appear to help provide a technical explanation for Bitcoin’s supposed stability compared to the yellow metal.

In an interview with Bloomberg, he said that the crypto market had reached “roughly $2 trillion in round numbers.”

“It’s simply pure mathematics,” he said.

Featured image from Al Bawaba, chart from TradingvView.com