Trump Halts Planned 50% Tariff on Canada
US President Donald Trump has suspended plans to raise tariffs on steel and aluminum imported from Canada to 50%. However, the current 25% tariffs will go into effect on March 12. The move comes after Ontario suspended a 25% electricity fee it had imposed on some northern US states.
The move, the latest in a series of trade tensions between the two countries, was made to focus on negotiations for a North American free trade agreement. Canada has retaliated by calling Trump’s tariffs “unfair,” announcing it will impose new taxes on $30 billion worth of U.S. goods.
SEC Postpones Altcoin ETF Decisions, But Chances of Approval in 2025 Are Strong
The U.S. Securities and Exchange Commission (SEC) postponed applications for several altcoin-based ETFs on March 11. Bloomberg ETF analyst James Seyffart said these delays were to be expected, but the chances of approval in 2025 were still high.
Grayscale’s Dogecoin (DOGE), XRP, Litecoin (LTC), and Cardano (ADA) ETF applications were postponed, as were 21Shares, Bitwise, and Canary Capital’s XRP ETFs. A similar decision was made for the Solana (SOL) ETF applications. Despite this, the SEC announced that it was reviewing Grayscale’s Hedera (HBAR) ETF and Bitwise’s DOGE ETF application.
In addition, on March 11, Franklin Templeton filed the S-1 form for the XRP ETF with the SEC, joining the new altcoin ETF race. Analysts emphasize that the final decision date is in October and the current approval possibilities are still strong.
1 Million Bitcoin Purchase Proposal in the US
Senator Cynthia Lummis and five Republican senators have reintroduced the BITCOIN Act, a bill that would allow the US to purchase 1 million Bitcoin (BTC). The bill requires the Treasury Department to manage Bitcoin purchases and to hold the purchased assets for at least 20 years. The financing would be provided by the Fed’s net earnings and gold-backed arrangements.
This step is seen as an attempt by the Trump administration to formalize its decision to create a Bitcoin reserve. However, the White House prefers to hold an indefinite reserve rather than make planned purchases. While it is unclear whether the law will be passed, it is becoming clear that Bitcoin has gained an important place in the official financial strategy of the United States.
US House of Representatives Repeals DeFi Broker Rule
The US House of Representatives passed the bill repealing the Biden-era DeFi tax reporting rule by a vote of 292 to 132. The decision, supported by 76 Democratic members, was criticized for imposing obligations that DeFi platforms could not technically fulfill. The bill shows that bipartisan support for crypto regulations in Congress is strengthening.
The repealed regulation defined DeFi platforms as “brokers” and required them to collect user data and report it to the IRS. However, lawmakers argued that decentralized protocols could not technically collect this information. The bill will be submitted to Trump for approval after a vote in the Senate.
Movement Has Been Taken for Stablecoin Law in the US
The US Congress is accelerating legislation that includes stablecoin regulations. Two separate bills that would set new rules for stablecoin issuers are being discussed in the House of Representatives and the Senate. The bills, called the STABLE Act and the GENIUS Act, are expected to be voted on in Congress in the coming months. Members of Congress argue that stablecoins could strengthen the US dollar’s position as a global reserve currency.
However, the bills have also sparked political debate. Democrats claim that the regulations proposed by Republicans do not include sufficient investor protections, while some members are skeptical of the Trump administration’s crypto policies. The Senate Banking Committee vote on Thursday will be a critical turning point for the future of the stablecoin legislation.
Bitwise Launches New ETF for Bitcoin-Focused Companies
Bitwise Asset Management has launched a new ETF, the Bitwise Bitcoin Standard Corporations ETF (OWNB), that tracks companies that hold at least 1,000 BTC. The index includes Strategy, MARA Holdings, CleanSpark and Riot Platforms.
The ETF will offer investment opportunities in companies that have adopted Bitcoin as a strategic reserve asset, contributing to Bitcoin’s growing view as a safe haven asset for institutional investors.
Texas Proposes $250 Million Limit on Bitcoin Investments
Texas Representative Ron Reynolds has introduced a bill that would cap the state’s Bitcoin investments at $250 million. According to the bill, state finances and local governments will not be able to make unlimited investments in BTC and other crypto assets.
This proposal comes after the Texas Senate passed a bill to create a strategic Bitcoin reserve. If Texas Governor Greg Abbott approves, the restriction would go into effect on September 1. Despite the Trump administration’s steps to create a federal Bitcoin reserve, some states continue to be divided on crypto investments.
German Stock Exchange to Launch Institutional Bitcoin and Ethereum Custody Service in 2025
The German stock exchange’s trading unit Clearstream is preparing to offer Bitcoin (BTC) and Ethereum (ETH) custody and exchange services to institutional clients in 2025. The platform, which will serve more than 2,500 institutional clients, is expected to be operational in April.
These services will be offered through Switzerland-based Crypto Finance AG, which Deutsche Boerse acquired a majority stake in 2021. The company also plans to offer a variety of crypto asset solutions, including staking, lending, and brokerage services.
The move is seen as a response to the increasing interest from institutions in regulated crypto services as the MiCA regulations come into effect in Europe. However, some experts say that MiCA poses a risk of over-regulation for retail investors and could cause crypto firms to move to regions with more lenient regulations, such as the Middle East.
StarkWare Aims to Combine Bitcoin and Ethereum by Establishing a Bitcoin Reserve
StarkWare, the developer of the Ethereum Layer 2 solution Starknet, has announced the establishment of a Strategic Bitcoin Reserve. The company said it will hold an increasing portion of its treasury assets in Bitcoin. CEO Eli Ben-Sasson stated that they believe all blockchain companies should hold Bitcoin.
StarkWare also took three new steps to increase integration with the Bitcoin ecosystem. These include Xverse wallet integration, BTCFi program on Starknet, and Lightning Network-powered payments. The company aims for Starknet to be the first Layer 2 capable of transacting on Bitcoin and Ethereum, and aims to provide secure, low-cost, and scalable solutions for Bitcoin.
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BITCOIN (BTC)
BTC is trading at $ 81,770 as of the morning hours, losing 1.40% in value. Following yesterday’s 5% increase, BTC was rejected from these levels and began to retreat. For BTC, which continued to decline after losing the 82,240 support level, if the negative trend continues, the levels of 80,496 and then 78,459 are in the support position. If this region is broken, it may be possible for BTC to retreat to $ 76,596. In case of a possible positive trend, the $82,440 resistance must first be overcome in order for the upward movement to continue. If this level is broken, the $84,683 and then $86,673 levels can be followed as the next resistance zones.
ETHEREUM (ETH)
ETH is priced at $ 1,868 as of the morning hours with a 2.90% loss in value. After yesterday’s 3% increase, it seems to have almost taken back what it gave on the new day. If the downward movement continues, $ 1,843 can be met as the first support level. Below this level, 1,798 and then 1,757 levels maintain their support positions. In case of possible deeper selling pressures, a pullback to 1,665 levels may be seen.
In upward movements, the $ 1,908 level must first be overcome. If this level is broken, $ 1,997 and then $ 2,075 levels can be followed as resistance.
RIPPLE (XRP)
XRP is trading at $ 2.16 as of the morning hours, losing 0.33%. XRP, which was rejected from $ 2.24 after yesterday’s increases, continues to retreat. If the negative trend continues, the first support point can be followed at $ 2.08, followed by 2.02. If this zone is broken, a pullback to $ 1.95 levels may occur.
In upward movements, the $ 2.19 level stands out as short-term resistance. If this level is exceeded, 2.25 and 2.31 – 2.37 band levels can be followed as resistance.
AVALANCHE (AVAX)
AVAX is trading at $ 17.20 levels with a 1.77% loss in value as of the morning hours. AVAX, which was rejected at 17.87 during the night hours, seems to have broken the 17.29 level. If the pullback continues, the $ 16.20 level can be followed as the first support point. Below this level, $15.66 – $14.90 stands out as the critical support zone.
In the upward movements, the level of 17.29 is now the resistance. If this level is exceeded, the $ 17.87 and $ 18.96 levels can be monitored as resistance points.
SOLANA (SOL)
SOL is traded at $ 121.88 as of the morning hours with a 2.74% loss in value. SOL, which was rejected from the resistance zone, seems to have also lost the 125.22 support level. If the pullbacks continue, the $ 118.17 level can be followed as the first support point. Below this level, 112.54 stands out as the critical support zone.
In upward movements, the 125.22 level is now in the resistance position. If this level is exceeded, the middle band of the resistance zone is 130.48, and then the upper band is 135.47 dollars.
