It's bloody, bloody Tuesday out there in the crypto markets.

It's February 25th, 2025.

I'm Christine Lee. This is Coiness Daily.

Bitcoin tanking below $88,000 Tuesday morning after U.S. President Donald Trump said a month-long delay

on import tariffs on Canada

and Mexico will go forward in March. Analysts say a global trade war will likely lead to increased

inflation, which could dampen investor sentiment in the crypto markets and make it difficult for

central banks, including the Fed, to cut interest rates. Salana is the worst crypto performer spiraling 12% on the daily chart and a whopping 46% over the past

month as the meme coin craze appears to fizzle out.

Fueling the gloomy sentiment is the failure of state-level legislation in the U.S. to approve

Bitcoin reserves.

Crypto data platform BRN saying, despite U.S. to approve Bitcoin reserves. Crypto-data platform BRN saying,

despite U.S. President Donald Trump's recent pro-Bitcoin stance, three state-level proposals for

Bitcoin reserves failed in Montana, North Dakota, and Wyoming. The reluctance to adopt state-run

Bitcoin reserves underscores the political risks as policymakers avoid accusations of speculating with taxpayer funds.

A nationwide reserve strategy potentially backed by a bond issuance or a partial sale of U.S. gold

reserves could be a more viable path for future adoption.

So who's buying the dip? Asia's micro strategy, Metaplanet, said it bought another 135 Bitcoin

for about $13 million, taking its total holdings to over 2,200 BTC and making it one of the

top 15 publicly traded companies with the largest Bitcoin reserves. On Monday, Microstrategy,

rebranded as strategy, acquired about $2 billion worth of Bitcoin,

bringing their total holdings to about half a million BTC.

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