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USD/CHF: Elliott Wave Analysis and Forecast for 07.03.25 – 14.03.25

USD/CHF: Elliott Wave Analysis and Forecast for 07.03.25 – 14.03.25

March 10, 2025 3:47 pm |

Major Takeaways Main scenario: Consider short positions from corrections below the level of 0.9154 with a target of 0.8724 – 0.8386. A sell signal: the level of 0.9154 is broken to the downside. Stop Loss: above 0.9200, Take Profit: 0.8724 – 0.8386. Alternative scenario: Breakout and consolidation above the level of 0.9154 will allow the pair to continue rising to the levels of 0.9340 – 0.9530. A buy signal: the level of 0.9154 is broken to the upside. Stop Loss: below 0.9100, Take Profit: 0.9340 – 0.9530. Main Scenario Consider short positions from corrections below the level of 0.9154 with… Read full author’s opinion and review in blog of #LiteFinance

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Why Is Bitcoin Dropping? BTC Price Closes at 4-Month Low Reacting to Trump’s Plans

Why Is Bitcoin Dropping? BTC Price Closes at 4-Month Low Reacting to Trump’s Plans

March 10, 2025 3:45 pm |

Over the
past 24 hours, Bitcoin (BTC) price has dropped nearly 3%, briefly testing the
$80,000 level. While the cryptocurrency rebounded from this psychological
support on Monday, it had just experienced a 6.4% drop on Sunday—one of the
steepest declines this year and its lowest daily close since November 2024.

Why is
Bitcoin going down and closing at four-month lows? According to experts, the
decline is linked to market volatility triggered by an executive order signed
by President Donald Trump, which mandates the creation of a strategic
cryptocurrency reserve in the U.S., including Bitcoin.

Bitcoin Price Today Is
Going Down. Why?

As of today
(Monday), March 10, 2025, Bitcoin has been testing the $80,000 level for the
second consecutive day. While at the time of writing, its price is rebounding
3.4% to $83,455, it remains down nearly 3% on a 24-hour basis.

This
decline follows a sharp drop on Sunday, when BTC fell by over 6%, marking one
of the worst sessions of the year. It also recorded its lowest daily close
since November 2024, making it the weakest level in more than four months.

One major
catalyst for Bitcoin’s recent slump is the market’s reaction to an executive
order signed by President Donald Trump last week. The order established a U.S.
strategic Bitcoin reserve, utilizing cryptocurrencies seized in criminal and
civil forfeiture cases.

While this
move initially sparked optimism, the lack of a bold commitment to purchase
significant amounts of Bitcoin—such as 100,000 or 200,000 coins—left investors
underwhelmed. Prices slid as traders expressed disappointment over what they
perceived as a conservative approach.

Bitcoin Holds (Again) at
$80K – BTC/USDT Technical Analysis

My
technical analysis suggests that the $80,000 level is a critical support for
buyers, having successfully halted declines for the second time in the past two
weeks. After four consecutive days of BTC depreciation, this level has
triggered a reversal and a corrective rebound of over $3,000.

However,
BTC/USDT remains under bearish pressure, far from the consolidation near its
all-time high (ATH) that was observed between November and late February. In my
view, a break above the $90,000–$92,000 zone, which marks the lower boundary of
that consolidation range, would signal that bulls have regained full control.

If the $80K
support fails, the next target would be the October highs around $72,000.
However, I see a more significant support level at the September and early
November peaks, near $67,000. In my opinion, this is the ultimate line in the
sand that will determine whether bulls or bears take dominance in the market.

Bitcoin Price Drops in “Textbook
Correction”

Beyond
policy announcements, Bitcoin’s price action reflects broader market dynamics.
Analysts at 10x Research described this as a “textbook correction,” pointing
out that roughly 70% of the selling pressure came from investors who entered
the market within the last three months. This wave of panic selling by newer
participants has amplified the decline.

Arthur
Hayes, co-founder of BitMEX and CIO of Maelstrom, warned that Bitcoin could
soon retest the $78,000 level. “If that support fails, $75,000 is next,” he
posted on X, highlighting significant open interest in Bitcoin options at the
$70,000 to $75,000 range. A drop to these levels, he cautioned, could trigger a
“violent” sell-off as derivatives traders adjust their positions.

The crypto
market doesn’t operate in a vacuum, and macroeconomic factors are also at play.
This week, the U.S. is set to release two critical inflation reports that could
sway Federal Reserve policy. Persistent inflation might prompt tighter monetary
measures, potentially dampening risk assets like Bitcoin.

Meanwhile,
trade tensions are heating up, with Canada imposing retaliatory tariffs in
response to U.S. policies under Trump. Mark Carney, Canada’s newly elected
Liberal Party leader and former central banker, vowed to challenge American
trade moves, adding uncertainty to global markets.

Bitcoin News and Price,
FAQ

Why Is Bitcoin Falling
Now?

Bitcoin’s
recent price drop is mainly linked to market reactions following President
Donald Trump’s executive order to establish a U.S. strategic Bitcoin reserve.
Instead of committing to large-scale government purchases of Bitcoin, the
reserve will be funded using assets seized in criminal and civil forfeiture
cases.

Will BTC Rise Again?

The future
trajectory of Bitcoin remains uncertain and is influenced by multiple factors,
including government policies, investor sentiment, and broader economic
conditions. While some analysts believe Bitcoin will recover in the long term
due to increasing institutional adoption and its role as a store of value,
others warn that without strong buying pressure, Bitcoin may remain under
bearish influence. A key resistance level to watch is the $90,000–$92,000
range, which could signal a return to bullish momentum. On the downside, if the
$80,000 support level fails, Bitcoin could test lower levels around $75,000 or
even $70,000.

What If You Invested
$1,000 in Bitcoin 10 Years Ago?

If you had
invested $1,000 in Bitcoin ten years ago, in March 2015, your investment would
have significantly increased in value. At that time, Bitcoin’s price ranged
from approximately $177 to $465, with an average of about $300. A $1,000
investment would have bought around 3.33 BTC. At the current price of about
$82,308 per Bitcoin, that investment would now be worth approximately $274,000.
This highlights Bitcoin’s historical potential for high returns despite its
volatility.

Is Bitcoin Going Down
Because of Trump?

Yes, to
some extent. The recent drop in Bitcoin’s price has been partially attributed
to investor disappointment over President Trump’s executive order regarding a
strategic Bitcoin reserve. While the order initially sparked optimism, the lack
of a bold commitment to purchasing significant amounts of Bitcoin left traders
underwhelmed. This led to selling pressure and price declines. However,
Bitcoin’s movement is also influenced by broader market dynamics, such as
profit-taking, macroeconomic concerns, and technical levels being tested in the
market.

This article was written by Damian Chmiel at www.financemagnates.com.

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USD/СAD: Elliott Wave Analysis and Forecast for 07.03.25 – 14.03.25

USD/СAD: Elliott Wave Analysis and Forecast for 07.03.25 – 14.03.25

March 10, 2025 3:30 pm |

Major Takeaways Main scenario: Once the correction ends, consider long positions above the level of 1.4160 with a target of 1.4800 – 1.5200. A buy signal: the level of 1.4160 is broken to the upside. Stop Loss: below 1.4100, Take Profit: 1.4800 – 1.5200. Alternative scenario: Breakout and consolidation below the level of 1.4160 will allow the pair to continue declining to the levels of 1.3950 – 1.3433. A sell signal: the level of 1.4160 is broken to the downside. Stop Loss: above 1.4220, Take Profit: 1.3950 – 1.3433. Main Scenario Consider long positions above the level of 1.4160 with… Read full author’s opinion and review in blog of #LiteFinance

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Carney expected to be welcomed with a Bank of Canada rate cut

Carney expected to be welcomed with a Bank of Canada rate cut

March 10, 2025 3:10 pm |

Former Bank of Canad and Bank of England Governor Mark Carney was selected a leader of the Canadian Liberal party yesterday in a landslide vote. That means he will soon take over for Prime Minister Justin Trudeau.

Carney hinted at what will happen as he takes the role: A bill will be passed to eliminate the consumer carbon tax (while leaving the industrial tax in place) and the capital gains hike will be cancelled (this doesn’t take legislation as it was never implemented).

He can’t actually sit in parliament so he’s in an awkward position and an untenable one. He’s also entered something of a honeymoon period and Liberals are polling much better than a few months ago. Conservatives had anchored there entire campaign as anti-Trudeau and anti-carbon tax and these two moves have dulled their blades and their chances.

Conservatives still lead in the polls but it’s far closer and I expect Carney to use whatever momentum he has and call an election in the next few weeks. Parliament is prorogued until March 24 so I suspect it will be called by month end, followed by a 6-8 week campaign.

If, for some reason, Carney tries to hold onto power without an election, then it can’t be delayed beyond October.

As for this week in Canada, the market is pricing in an 86% chance of a Bank of Canada rate cut to 2.75%. The data has held up ok in Canada but inflation is back at target and there are serious worries about the impacts of tariffs and the uncertainty about a trade war.

This article was written by Adam Button at www.forexlive.com.

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Singapore Exchange Eyes Crypto Derivatives Market With Planned Bitcoin Futures Contracts

Singapore Exchange Eyes Crypto Derivatives Market With Planned Bitcoin Futures Contracts

March 10, 2025 2:47 pm |

The Singapore Exchange (SGX) plans to enter the
cryptocurrency derivatives market by introduce Bitcoin perpetual futures in the
second half of 2025, Bloomberg reported.

As institutional interest in digital assets continues
to rise, SGX aims to provide a regulated platform with the new offering.
However, it is subject to approval from the Monetary Authority of Singapore
(MAS).

Institutional Access to Bitcoin Futures Expands

SGX’s move reportedly aligns with the growing demand
for crypto derivatives among institutional players. The reports come as
Bitcoin faces a downward price momentum. At the time of writing, the digital
asset changed hands for $83,264, representing a 1% and 10% decline in the past
day and week, respectively.

By launching Bitcoin perpetual futures, SGX seeks to
offer an alternative investment vehicle that allows traders to speculate on
Bitcoin price movements without holding the actual asset.

Perpetual futures are a type of derivative contract
similar to traditional futures but without an expiration date. They allow
traders to speculate on the price movements of an asset (like cryptocurrencies,
stocks, or commodities) without owning the underlying asset.

Singapore has positioned itself as a crypto-friendly
hub, with the regulator doubling the number of crypto licenses issued in 2024. Singapore is not alone in this trend.

Other major exchanges in Asia are also exploring
Bitcoin futures offerings. Japan’s Osaka Dojima Exchange has reportedly applied
for regulatory approval to list Bitcoin futures, potentially making it one of
the first traditional exchanges in the region to offer such products,
Cointelegraph reported.

Regulatory Approval and Market Trends

Meanwhile, EDX Markets, a crypto asset firm backed by
Citadel Securities, announced plans to introduce crypto futures in Singapore by
early 2025. Derivatives like perpetual futures provide exposure to
cryptocurrency price movements without requiring direct ownership, making them
an attractive option for institutions looking to hedge risk or gain speculative
exposure.

With SGX entering the space, Singapore is poised to
strengthen its position as a key player in institutional crypto adoption. If
approved, the Bitcoin perpetual futures launch could mark another step in the
city-state’s expanding role in the global digital asset market.

Meanwhile, the global derivatives marketplace CME
Group announced plans last year to broaden its cryptocurrency derivatives offering with Bitcoin and Ether futures.

Giovanni Vicioso, the Global Head of Cryptocurrency
Products at CME Group, commented: “The launch of these new Micro
Euro-denominated contracts will provide clients with additional products to
more efficiently hedge Bitcoin and ether exposure in the second-highest traded
fiat behind US dollar-based contracts.”

This article was written by Jared Kirui at www.financemagnates.com.

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INGOT Brokers Secures SCA License for Forex in UAE Following Kenya’s CMA

INGOT Brokers Secures SCA License for Forex in UAE Following Kenya’s CMA

March 10, 2025 2:42 pm |

INGOT Brokers, a global brokerage firm, has made a notable
advancement in its expansion plans by acquiring a license from the Securities
and Commodities Authority (SCA) in the United Arab Emirates (UAE).

This follows the company’s earlier announcement regarding
the approval from the Capital Markets Authority (CMA) in Kenya, which granted
INGOT Africa Ltd. a license to operate as a non-dealing online forex broker in
Kenya. The platform in Kenya is already active, offering forex and contracts
for differences (CFDs) on indices, stocks, commodities, and exchange-traded
funds (ETFs).

INGOT Brokers Secures SCA License, UAE

The SCA license allows INGOT Brokers to introduce and
promote financial products and services in the UAE, furthering its strategy to
expand its global presence. The UAE is known for its established financial
markets, and INGOT Brokers aims to serve traders in this region with a variety
of financial instruments, advanced trading platforms, and professional support.

The SCA ensures that firms comply with industry standards. The
company’s entry into the UAE market is part of its broader effort to build a
trusted, transparent, and secure trading environment for clients globally.

According to the firm, this move reflects INGOT Brokers’
focus on establishing a presence in key financial hubs and providing traders
with the necessary resources to navigate global markets.

Receives Licenses in Kenya, Seychelles

The
Kenyan regulator issued the license just a few months after INGOT Brokers
received similar approval from South Africa’s Financial Sector Conduct
Authority (FSCA).

In July 2022, the broker further expanded its global
presence by obtaining a license from the Financial Services Authority (FSA) in
Seychelles. The company also set up offices in South Africa and Seychelles.
Founded in 2006, INGOT Brokers is regulated in Australia and Jordan.

INGOT Brokers Appoints Former BDSwiss Executives

Meanwhile, INGOT
Brokers has appointed two former BDSwiss executives: Andreas Andreou as
Chief Sales Officer and Marios Morfakis as Head of Business Development. Both
individuals left BDSwiss during a period when many other employees also
departed.

Following his departure, Andreou co-founded a proprietary
trading platform, where he currently serves as co-CEO. He confirmed to Finance
Magnates that he will continue in this role while taking on his new
responsibilities at INGOT.

This article was written by Tareq Sikder at www.financemagnates.com.

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US stock futures point to an ugly start to the week

US stock futures point to an ugly start to the week

March 10, 2025 2:15 pm |

S&P 500 futures are down 76 points, or 1.3% in yet-another Monday massacre. Nasdaq futures are down 1.6% with some of the memes/momentum stocks looking particularly ugly.

CNN’s Fear and Greed index is at 18 at the moment, which is ‘extreme fear’. To be far, it was also at this level a week ago, though that was partly on uncertainty around Canada-Mexico tariffs.

The message that stock markets and the economy need to ‘take their medicine’ before the economy can turn is a challenging one for risk assets and risks spiralling.

I’m starting to sense that sentiment is too bearish. Yes, the AI trade will have a reckoning and Trump isn’t helping with tariffs but, ultimately, you have to believe that tax cuts and deregulation are coming. It might take until after April 2 tariffs to get some sense of clarity but Hassett today hinted that Canada-Mexico tariffs could come off then.

I don’t hate the setup here.

This article was written by Adam Button at www.forexlive.com.

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PU Prime Expands Deposit Bonus Promotion to Copy Trading Accounts

PU Prime Expands Deposit Bonus Promotion to Copy Trading Accounts

March 10, 2025 2:15 pm |

PU Prime, a globally recognized CFD broker, has announced an update to its Deposit Bonus Promotion. Previously available only for standard trading accounts, this popular bonus is now extended to Copy Trading accounts, enabling traders to enhance their trading potential by copying top-performing traders with additional credit.

More Trading Power for Copy Traders

With this expansion, Copy Trading users can now take advantage of a percentage of deposit bonus when funding their accounts. This provides more capital to mirror the strategies of seasoned traders, creating greater opportunities in the financial markets.

Claiming the bonus

1. Activation – By logging in to the Client Portal and enabling the promotion under the “Promotions” tab.

2. Depositing – Users should ensure the deposit is made only after activating the promotion.

3. Receiving Bonus – The bonus will be credited to user’s account, ready to enhance your trading potential.

Key Benefits for Traders

Lower Entry Barrier – Allows users to participate with increased capital while replicating professional strategies.

More Flexibility – Provides additional trading capacity without requiring increased personal capital.

Maximized Profit Potential – Enables traders to follow established strategies and market movements.

Advanced Copy Trading with PU Prime

PU Prime’s Copy Trading feature allows users to replicate expert traders’ moves in real time, making it easier for both beginners and experienced traders to benefit from market expertise. Additionally, the newly available Deposit Bonus Promotion offers eligible traders an opportunity to increase their trading funds.

About PU Prime

Founded in 2015, PU Prime (https://www.puprime.com) is a leading global fintech company providing innovative online trading solutions. Today, PU Prime offers a diverse range of financial products across various asset classes, including forex, commodities, indices, and cryptocurrencies. Committed to providing advanced technology and educational resources, PU Prime supports traders and investors at every stage, from beginner to professional. Their platform serves a wide-reaching international audience, with over 40 million app downloads worldwide. PU Prime is dedicated to enabling financial success and fostering a global community of empowered traders.

This article was written by FM Contributors at www.financemagnates.com.

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