According to ChainCatcher's message, the withdrawal of two data centers by Microsoft has caused Wall Street to worry about the potential oversupply risk of AI infrastructure, coupled with Trump's claim that tariffs on Canada and Mexico will continue, further undermining market confidence. According to 4E monitoring, the major US stock indexes saw more declines than gains that day, with the Dow Jones up 0.08%, the S&P 500 down 0.50%, and the tech-heavy Nasdaq down 1.21% as large-cap tech stocks collectively plunged.
The Altcoin market plummeted collectively following the US stock market. A member of the South Dakota state legislature has postponed a vote that could have allowed the state to invest in Bit, effectively killing the bill and further dampening market sentiment. Bit fell below $91,000, hitting a new low since February, before rebounding slightly to $92,245, down 3.77% in 24 hours.
ETH and Altcoins saw significant declines. The market had previously expected Bybit to need to repurchase ETH to replenish its wallet funds, which had helped drive an ETH rebound. However, market news indicates that the ETH supply gap has now been fully filled through loans and over-the-counter trading, and ETH has started to decline, falling below $2,500 this morning under the broader market pressure, down 11% in 24 hours. The meme momentum has cooled, and Solana's price has fallen below $140 to its lowest level since October, down 15% in 24 hours.
In the foreign exchange and commodity markets, the US dollar index fell 0.07% as the market is concerned about the US economic growth slowdown. International oil prices rose more than 0.4% after the US announced new sanctions on Iranian oil exports. The rising demand for safe-haven assets and the weakening US dollar have supported spot gold, which has hit a new high, up more than 0.53% and up over 12% so far this year, with investors eyeing the $3,000 level.
The current market sentiment is relatively fragile, with the approaching deadline, Trump's tariff policy on Canada and Mexico, and further signs of weakness in US economic data all adding to market uncertainty and driving up risk-averse sentiment. The key upcoming events, such as Nvidia's earnings report on Wednesday, the US GDP data on Thursday, and the Fed's favorite inflation indicator PCE data on Friday, may all impact the market.
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