Renowned economist Peter Schiff has raised an issue between Donald Trump’s tariffs and the president’s plan to make the US a Bitcoin superpower. Schiff believes that Trump is unlikely to achieve his goals with the tariffs while making the US a BTC superpower, as they both contradict each other.
Peter Schiff Explains How Trump’s Tariffs and Bitcoin Plans Contradict
In an X post, Peter Schiff stated that Donald Trump’s goals of solving the problems leading to the US’s huge trade deficits and making the country a Bitcoin superpower are at odds with one another.
The economist explained that the more the US diverts its scarce resources to crypto, the more it will depend on the rest of the world to produce the stuff that Americans need. Peter Schiff, who is a Bitcoin skeptic, has on several occasions criticized Trump’s tariffs and his Bitcoin plans.
He believes that the tariffs will only harm the US and lead to higher inflation or recession. The economist also believes that plans like the Strategic Bitcoin Reserve are a waste of resources. Schiff even urged former President Joe Biden to sell the US’s Bitcoin holdings before Trump took office earlier this year.
With Trump not backing down on his tariff plans, Schiff predicts that the Fed will likely cave and move to cut interest rates instead of raising them to help curb inflation. He predicts a Gold rally to new highs if that eventually happens.
The Bitcoin Criticism Continues
As a follow-up to his original post, Peter Schiff again criticized Bitcoin and Trump’s Strategic BTC Reserve plans. He stated that the flagship cryptocurrency does not create any value for the US. Instead, he claims resources are just wasted as money moves from Bitcoin buyers to sellers.
Meanwhile, Peter Schiff also commented on Gold’s correction towards the end of this week while the Bitcoin price surged past the $95,000 mark. He stated that this was just a counter-trend move, which happens from time to time. He urged market participants not to read anything more into it.
Ethereum price dived below $2,000 on March 9, mirroring the broader market downtrend. Institutional investors are offloading ETH, increasing downside risks.
Ethereum Price Dives Below $2,000 as US NFP Tilts Markets Bearish
Ethereum (ETH) experienced significant losses over the weekend as the highly anticipated White House Summit failed to lift market sentiment. Instead, the latest US Non-Farm Payroll (NFP) report dominated investor outlook, highlighting rising unemployment and increasing inflation pressures.
As a result, ETH price tumbled below the psychological $2,000 level, trading as low as $1,998 on Binance on March 9, marking an 8% daily decline. The drop exceeded Bitcoin’s 4% losses within the same timeframe, signaling stronger bearish momentum within ETH spot markets.
Ethereum Price Action
The selling pressure has been exacerbated by mounting fears of further Federal Reserve tightening in response to rising inflation metrics. With investors now eyeing the next Consumer Price Index (CPI) report, ETH price could struggle to gain meaningful traction unless macroeconomic conditions shift favorably.
BlackRock ETF Led Outflows with $11 Million Sell-off After US NFP Data
Amid rising unemployment and inflation triggers, institutional investors are reallocating capital away from crypto markets toward fixed-income securities, driving bond yields higher across global markets. This shift in investor sentiment has translated into substantial outflows from Ethereum ETFs.
According to on-chain analytics provider SosoValue, Ethereum ETFs recorded $23 million in outflows on Friday, the same day the US NFP report was released. Among the largest liquidations, BlackRock’s iShares Ethereum ETF saw an $11 million capital flight, the highest single-day outflow among Ethereum-focused funds.
The rapid outflows in Ethereum ETFs suggest that institutional investors are repositioning their portfolios in anticipation of further downside in crypto markets. If Ethereum ETF outflows continue into the coming week, ETH price could struggle to mount a sustained recovery.
Ethereum price forecast signals have taken a decisive bearish turn, with ETH plunging 8.3% on March 9 to test support near $2,000. The daily chart reveals a concerning technical setup, as ETH struggles below key moving averages, with a confirmed Death Cross between short-term EMAs signaling prolonged downside risks.
If Ethereum closes below the critical $2,000 level, selling pressure could accelerate, targeting the next major support at $1,850, where historical demand has previously stabilized declines.
Ethereum Price Forecast | ETHUSD
The Bollinger Bands show ETH trading at the lower band, suggesting it is in oversold territory. However, the absence of a significant bullish reaction underscores weak buying momentum. The MACD histogram remains in deep negative territory, with its signal line widening against the MACD line—affirming that bearish momentum is strengthening rather than reversing. While a relief bounce cannot be ruled out, any recovery toward $2,250 or $2,433 would likely face intense resistance as sidelined sellers look to re-enter.
The heightened leverage in derivatives markets could amplify price swings. If ETH loses $2,000 decisively, long liquidations may accelerate a cascade effect, making $1,850 the next crucial test for bulls. Conversely, a close above $2,200 could shift sentiment toward a bullish retracement.
Ethereum Price Outlook: Key Levels to Watch This Week
For Ethereum to break its bearish grip, ETF inflows must show signs of stabilization, particularly from major asset managers like BlackRock. If institutional demand returns, ETH could attempt to reclaim the $2,100 level and challenge the $2,250 resistance zone.
On the flip side, if macroeconomic headwinds persist and ETF outflows accelerate, Ethereum risks dropping below $1,950, potentially testing lower support at $1,850. With US CPI data and Federal Reserve commentary on the horizon, traders should remain cautious, as Ethereum’s price action could see heightened volatility in response to broader market shifts.
Overall, Ethereum remains vulnerable to further downside unless it reclaims key resistance levels and sees a resurgence in institutional demand.
The latest trading tales of Hyperliquid whales like Andrew Tate and James Wynn underscore that fortunes can be made and lost in the blink of an eye in the DeFi space. Andrew Tate’s recent X post highlights a staggering 138.5% gain on an Ethereum long position with 25x leverage on Hyperliquid. This impressive trade starkly
XRP price drops 2.6% to hit $2.2 on Thursday as Ripple’s $5 billion rejected offer to acquire Circle coincides with bearish ETF-related sentiment.
Ripple (XRP) sinks as SEC delays altcoin ETF decisions
XRP extended its weekly losses on Thursday, falling 2.6% to under $2.20 as major altcoins suffered considerable losses.
The drawdown came after the U.S. Securities and Exchange Commission (SEC) announced it would postpone decisions on all seven pending spot altcoin ETF applications.
The delay triggered immediate bearish sentiment across the crypto market, with Dogecoin (DOGE), Avalanche (AVAX), and Solana (SOL) also registering intraday losses of roughly 3%, according to Coingecko data
XRP Price Action, May 1 | Source: Coingecko
The synchronized pullback among altcoins highlights investor unease, particularly around assets with ETF filings currently under SEC review. While Bitcoin and Ethereum remained relatively stable, market data showed a distinct wave of outflows from tokens viewed as ETF contenders.
As seen above the 2.6% Ripple price dip saw its market capitalization slip below the $130 billion mark, wiping out short-term gains from late April. As regulatory uncertainty persists, risk-averse traders appear to be reducing exposure to altcoins vulnerable to SEC oversight.
Ripple’s failed $5B Circle offer deepens investor anxiety
Adding to the day’s market headwinds, Bloomberg reported on Wednesday that Ripple had made an unsolicited acquisition offer of between $4 billion and $5 billion to buy stablecoin issuer Circle. The bid was reportedly rejected as undervalued.
According to anonymous sources cited in the report, Circle—which issues the U.S. dollar-pegged stablecoin USDC—declined the proposal, stating the valuation did not reflect its current growth trajectory and IPO ambitions.
The disclosure of Ripple’s acquisition interest came just weeks after Circle filed a fresh prospectus for an initial public offering.
Circle, valued at $9 billion in a 2022 SPAC deal attempt, is the issuer of the world’s second-largest stablecoin and a key rival to Ripple’s newly launched RLUSD token.
Ripple, which has been expanding its presence in blockchain payments and stablecoin markets, has remained publicly quiet about the deal, with CEO Brad Garlinghouse previously indicating that future acquisitions were “on the table.”
As Circle pushes ahead with its IPO plans and market valuation, Ripple’s attempt to acquire a major player signals strategic urgency—but also hints at friction in executing that strategy. With altcoin sentiment already rattled by regulatory delays, the timing of Ripple’s bid and its rejection amplified downside pressure on XRP price action in the days ahead.
XRP Price Forecast Today: Bulls Eye $2.35 as Support Holds Above 50-Day SMA
XRP price forecast today leans moderately bullish following a resilient bounce from the $2.19 intraday low, suggesting buyers are defending the short-term trend.
The daily candle closed at $2.2199, up 1.33%, holding above the 50-day simple moving average (SMA) at $2.1914. This level now acts as immediate support, helping anchor bullish sentiment.
The RSI reading of 53.83 indicates a slight positive bias, reinforced by the RSI moving average at 53.00, with the gap between them subtly widening, often a precursor to major breakout
XRP Price Forecast Today
Volume remains moderate at 6.73 million, hinting at cautious accumulation rather than breakout conviction. Price has remained supported above the ascending trendline drawn from early April lows, while the 200-day SMA overhead at $2.39 continues to cap upside potential. A clean break and close above $2.25 could trigger follow-through momentum toward $2.35. However, failure to reclaim this resistance in coming sessions may expose XRP to a pullback toward $2.10. Still, the preservation of higher lows suggests the broader structure remains intact and tilts the bias slightly in favor of the bulls.
