Ndax Weekly TL;DR March 10th

• US Establishes Bitcoin Reserve in Landmark Move Toward Financial Integration
• White House Clarifies Trump’s Crypto Reserve Remarks, Triggering Market Declines
• Bank of Canada Rate Cut Expectations Rise After Weak Job Growth in February
   

President Donald Trump has signed an executive order creating a Strategic Bitcoin Reserve and a Digital Asset Stockpile, marking the first official step toward integrating Bitcoin into the U.S. financial system. The reserve will initially be funded using cryptocurrency seized in criminal cases. While the announcement disappointed some investors expecting government Bitcoin purchases— contributing a 6% price drop—analysts see it as a pivotal moment in Bitcoin’s global legitimacy. Cointelegraph

Cardano (ADA), XRP, and Solana (SOL) saw price drops after a White House official clarified that President Trump’s mention of a strategic crypto reserve was not a finalized list but rather an example of potential assets. The official's comments contradicted prior assumptions that the reserve would include ADA, XRP, and SOL, leading to market uncertainty. CoinDesk

Canada’s job market showed signs of strain in February, adding just 1,100 jobs—well below the 20,000 forecast—while the unemployment rate remained at 6.6%. Economists point to tariff uncertainty and severe winter storms as key factors impacting employment, particularly in transportation, warehousing, and manufacturing. Following the weak labor data, market expectations for a Bank of Canada rate cut in March rose to 85%. Analysts suggest a 25-basis-point cut is likely as policymakers look to support economic stability amid ongoing trade concerns and slowing growth. Financial Post

As of 03-03-2025 at 9:00 AM EST

Market Summary

• Over the past seven days, the global cryptocurrency market capitalization has decreased from CA$4.42 trillion to CA$3.92 trillion.
• Bitcoin's market dominance stands at 60.3%, while Ethereum's share is 9.4%.

Performance

• Over the past 24 hours, the price of BTC has fluctuated between CA$115K and CA$120K registering a 10% change over the past week and a market cap of CA$2.4 trillion. (At time of writing)

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Mark your calendars!

• Mar 12 – Canada Interest Rate Decision Announcement 
• Mar 12 – US Core CPI Announcement 
• Mar 12 – US Initial Jobless Claims Announcement 

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