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Major coins traded mixed on Sunday evening as the recent banking crisis in the United States has caused many investors to question the reliability of the traditional banking system. Cryptocurrency Gains (+/-) Price (Recorded 9:30 p.m. EST) Bitcoin +0.78% $27,873 Ethereum +0.66% $1,767 Dogecoin -0.36%

$0.073

What Happened: Apex cryptocurrency Bitcoin BTC/USD is currently trading below $28,000.

Ethereum ETH/USD was up 0.66% to change hands below $1,800. Dogecoin DOGE/USD was trading at $0.073, down 0.36% in the last 24 hours. Top Gainers Cryptocurrency Gains (+/-) Price( Recorded 9:30 p.m. EST) Rocket Pool +9.35% $42 ssv.network +9.14% $37.51 Conflux +7.23% $0.34

At the time of writing, the global crypto market capitalization stood at $1.16 trillion, an increase of 0.64% over the last day.

U.S. stocks rose Friday after a volatile trading session. Although Friday began with fears that the banking crisis was spilling over to Deutsche Bank, the markets rebounded to end the week on a higher note. The S&P 500 rose 0.56%, while Nasdaq Composite ticked up 0.3%.
See More: Best Crypto Day Trading Strategies

News Highlights: Liquidity is a major problem in today's crypto market. According to the Kaiko data provider, large orders without market depth can cause large price fluctuations, leaving traders vulnerable to slippage and even potential losses.

Conor Ryder, Research analyst at Kaoiko said the liquidity crisis has been particularly evident in Bitcoin, where the closure of two key US-based banks hassignificantly reduced liquidity levels to 10-month lows. The same liquidity crunch is also affecting the decentralized finance (DeFi) sector.

The liquidity situation in crypto is worsening after the banking fears this month

I dived into several liquidity metrics to give an update on all things crypto liquidity

First, $BTC liquidity has dropped to 10 month lows as market makers lose access to USD payment railspic.twitter.com/RwcBEJ8y5Z Conor Ryder (@ConorRyder) March 23, 2023

Analyst Notes: Crypto analyst Michal van de Poppe said that he predicted Bitcoin would drop to $25,000, but the apex crypto resisted and made a substantial correction to $26,200. He believes BTC would eventually reach $40,000. Trading isnt black and white, its often grey. This push makes me believe well continue up.

Yes, I believed we were going to drop to $25K.

However, we did squeeze to $28.7K and make a substantial correction to $26.2K. I also mentioned well most likely go to $40K after.

Trading isnt black and white, its often grey.

This push makes me believe well continue up. Michal van de Poppe (@CryptoMichNL) March 23, 2023

Crypto analystJustin Bennett had a snarky response to Balaji Srinivasan's bold $1 million bet. He said, if Bitcoin were to lose $26,500 on high times frames, then this would be the most obvious short entry point that the majority of crypto Twitter missed because they were promised $1 million in Bitcoin in just 90 days.

If $BTC loses $26,500 on the HTFs, this will go down as the most obvious short entry that most of crypto Twitter missed because they were promised $1 million #Bitcoin in 90 days.

Only in crypto. https://t.co/GUWze1Juy9 pic.twitter.com/fDYa24jCNM Justin Bennett (@JustinBennettFX) March 25, 2023

Read Next: Web3 Token Surpasses Bitcoin, Ethereum In Weekly Gains With 33% Surge On Microsoft Tie-Up

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Government ‘doesn’t think’ Donald Trump will impose trade tariffs on UK – but is ‘prepared for all scenarios’

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Government 'doesn't think' Donald Trump will impose trade tariffs on UK - but is 'prepared for all scenarios'

The government doesn’t think Donald Trump will impose trade tariffs on the UK, but is “prepared for all scenarios”, a cabinet minister has said. 

Darren Jones, the chief secretary to the Treasury, told Sky News’ Sunday Morning with Trevor Phillips that the former president’s return to the White House “could be an enormously positive thing with lots of opportunities”.

Mr Trump has threatened to impose tariffs on all imports into the United States, singling out Canada, Mexico, and China as countries that could face steeper measures within hours of his inauguration on Monday.

Asked what the government will do if that happens to the UK, Mr Jones said that was a “hypothetical” question and to wait and see “what actually happens”.

Politics Hub: Trump ‘within his right’ to make statement on tariffs

“If that were to happen, I will come back and lay out the details for you. But the point is, is that I don’t think we’re going to be in that scenario,” Mr Jones said.

Darren Jones is asked the same quesion eight times by Kay Burley
Image:
Darren Jones

He said there is a narrative in the UK that Mr Trump’s presidency poses “a big risk for Britain”, when this isn’t the case.

More on Donald Trump Jr

“Britain is a brilliant country with huge capabilities and assets which are valued not just to the British people, but to the American economy and other parts of the world,” he said.

“I have no doubt whatsoever that under the Trump administration there are going to be plenty of opportunities that we can seize, and we should be positive about that and be strong about securing this deal.”

Mr Jones confirmed there is ultimately a plan if tariffs are imposed, but said it isn’t for him “to lay out the details in advance of something actually happening on TV”.

“It’s not breaking news that the government prepares for all scenarios,” he added.

“My broader point is that we shouldn’t be looking at president-elect Trump’s inauguration as a risk, or a bad thing for the UK. It could be an enormously positive thing with lots of opportunities.”

President-elect Trump will be sworn in to a second term in office on Monday, following his election victory in November, and there have been concerns over what his pledged tariffs could mean for economies around the globe.

The former businessman has been clear he plans to pick up where he left off in 2021 by taxing goods coming into the country, making them more expensive, in a bid to protect US industry and jobs.

Read more:
Trump tariff threat prompts IMF warning
What Trump’s tariffs could mean for UK, EU, China and the world

UK ‘should pursue free trade deal’ with US

Shadow foreign secretary Dame Priti Patel, who is in Washington DC for the inauguration, said Mr Trump is “within his rights to make the statements that he wants around tariffs… but as ever this is a discussion and a negotiation”.

Priti Patel in Washington DC
Image:
Priti Patel in Washington DC

She said the Labour government should resume her party’s talks over a post-Brexit free trade deal with the US and “not even enter into these discussions around tariffs”.

A trade deal with the US had been set as a priority in the Conservative’s 2019 manifesto but was not achieved by the time of the general election in July last year, which they lost.

Ms Patel went on to call Reform UK leader Nigel Farage a “pop-up act” and “not relevant” when asked if her party should make peace with him to get on well with Mr Trump, given the close relationship of the pair.

She said the Conservatives and Republicans are “sister parties” with “enduring, long-standing ties”.

“We’re not a pop-up act in the way in which they [Reform UK] are… so I don’t think that’s particularly relevant,” she said.

However, the Lib Dems accused the former home secretary of “competing with Reform to be most submissive toward Trump”.

Confidence in Mandelson’s appointment

Mr Trump’s inauguration has also caused a stir after reports in the Sunday papers suggested he could reject Lord Peter Mandelson as Sir Keir Starmer’s nomination for the UK’s ambassador to the US.

The Labour grandee has been critical of Mr Trump in the past, and was last month branded an “absolute moron” by a Trump campaigner.

Lord Mandelson. Pic: PA
Image:
Lord Mandelson. Pic: PA

However Mr Jones signalled he was confident that the Blair-era minister would take up his position, telling Sky News he “doubts very much” the media reports are true.

“It’s probably being propagated by some politicians that would like to cause a bit of a nuisance. I doubt that will be the case.”

Govt ‘doesn’t agree’ with Khan’s Trump comments

Mr Jones was also forced to distance himself from comments made by Labour’s Mayor of London Sadiq Khan.

Mr Khan has warned of a century-defining battle against “resurgent fascism”, writing in The Observer that “these are deeply worrying times, especially if you’re a member of a minority community”.

Mr Jones said he does not associate with that language and questions about it “are for Sadiq to answer.”

He later told the BBC: “I speak on behalf of the government and we don’t agree with it.”

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UK

Government ‘doesn’t think’ Donald Trump will impose trade tariffs on UK – but is ‘prepared for all scenarios’

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Government 'doesn't think' Donald Trump will impose trade tariffs on UK - but is 'prepared for all scenarios'

The government doesn’t think Donald Trump will impose trade tariffs on the UK, but is “prepared for all scenarios”, a cabinet minister has said. 

Darren Jones, the chief secretary to the Treasury, told Sky News’ Sunday Morning with Trevor Phillips that the former president’s return to the White House “could be an enormously positive thing with lots of opportunities”.

Mr Trump has threatened to impose tariffs on all imports into the United States, singling out Canada, Mexico, and China as countries that could face steeper measures within hours of his inauguration on Monday.

Asked what the government will do if that happens to the UK, Mr Jones said that was a “hypothetical” question and to wait and see “what actually happens”.

Politics Hub: Trump ‘within his right’ to make statement on tariffs

“If that were to happen, I will come back and lay out the details for you. But the point is, is that I don’t think we’re going to be in that scenario,” Mr Jones said.

Darren Jones is asked the same quesion eight times by Kay Burley
Image:
Darren Jones

He said there is a narrative in the UK that Mr Trump’s presidency poses “a big risk for Britain”, when this isn’t the case.

More on Donald Trump Jr

“Britain is a brilliant country with huge capabilities and assets which are valued not just to the British people, but to the American economy and other parts of the world,” he said.

“I have no doubt whatsoever that under the Trump administration there are going to be plenty of opportunities that we can seize, and we should be positive about that and be strong about securing this deal.”

Mr Jones confirmed there is ultimately a plan if tariffs are imposed, but said it isn’t for him “to lay out the details in advance of something actually happening on TV”.

“It’s not breaking news that the government prepares for all scenarios,” he added.

“My broader point is that we shouldn’t be looking at president-elect Trump’s inauguration as a risk, or a bad thing for the UK. It could be an enormously positive thing with lots of opportunities.”

President-elect Trump will be sworn in to a second term in office on Monday, following his election victory in November, and there have been concerns over what his pledged tariffs could mean for economies around the globe.

The former businessman has been clear he plans to pick up where he left off in 2021 by taxing goods coming into the country, making them more expensive, in a bid to protect US industry and jobs.

Read more:
Trump tariff threat prompts IMF warning
What Trump’s tariffs could mean for UK, EU, China and the world

UK ‘should pursue free trade deal’ with US

Shadow foreign secretary Dame Priti Patel, who is in Washington DC for the inauguration, said Mr Trump is “within his rights to make the statements that he wants around tariffs… but as ever this is a discussion and a negotiation”.

Priti Patel in Washington DC
Image:
Priti Patel in Washington DC

She said the Labour government should resume her party’s talks over a post-Brexit free trade deal with the US and “not even enter into these discussions around tariffs”.

A trade deal with the US had been set as a priority in the Conservative’s 2019 manifesto but was not achieved by the time of the general election in July last year, which they lost.

Ms Patel went on to call Reform UK leader Nigel Farage a “pop-up act” and “not relevant” when asked if her party should make peace with him to get on well with Mr Trump, given the close relationship of the pair.

She said the Conservatives and Republicans are “sister parties” with “enduring, long-standing ties”.

“We’re not a pop-up act in the way in which they [Reform UK] are… so I don’t think that’s particularly relevant,” she said.

However, the Lib Dems accused the former home secretary of “competing with Reform to be most submissive toward Trump”.

Confidence in Mandelson’s appointment

Mr Trump’s inauguration has also caused a stir after reports in the Sunday papers suggested he could reject Lord Peter Mandelson as Sir Keir Starmer’s nomination for the UK’s ambassador to the US.

The Labour grandee has been critical of Mr Trump in the past, and was last month branded an “absolute moron” by a Trump campaigner.

Lord Mandelson. Pic: PA
Image:
Lord Mandelson. Pic: PA

However Mr Jones signalled he was confident that the Blair-era minister would take up his position, telling Sky News he “doubts very much” the media reports are true.

“It’s probably being propagated by some politicians that would like to cause a bit of a nuisance. I doubt that will be the case.”

Govt ‘doesn’t agree’ with Khan’s Trump comments

Mr Jones was also forced to distance himself from comments made by Labour’s Mayor of London Sadiq Khan.

Mr Khan has warned of a century-defining battle against “resurgent fascism”, writing in The Observer that “these are deeply worrying times, especially if you’re a member of a minority community”.

Mr Jones said he does not associate with that language and questions about it “are for Sadiq to answer.”

He later told the BBC: “I speak on behalf of the government and we don’t agree with it.”

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Politics

Can Trump’s pro-crypto policies survive beyond his administration?

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Can Trump’s pro-crypto policies survive beyond his administration?

The president-elect can only serve a four-year term before the Oval Office is contested between two new presidential candidates in 2028.

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