Gate Daily (January 30): Trump declares a national emergency and Cuban tariffs; The United States will announce a new chairman of the Federal Reserve next week

Bitcoin (BTC) collapsed violently in the short term, temporarily trading at around $84,140 on January 30. Trump declared a national emergency and imposed tariffs on countries that send oil to Cuba, causing risk assets to fall. Trump said that a new Fed chairman will be nominated next week, and interest rates should be 2 to 3 percentage points lower. El Salvador’s central bank has put $5,000 in gold in reserves and continues to increase its holdings in Bitcoin.

Macro events & currency hotspots

1. The White House said that Trump signed an executive order declaring a national emergency and establishing a procedure to impose tariffs on goods from countries that sell or otherwise provide oil to Cuba. Spot gold broke through $5,430 per ounce after Trump announced trade threats related to Cuba, up 1.17% on the day.

2. US President Trump said he plans to announce the successor to Federal Reserve Chairman Powell next week, ending weeks of speculation about who will take over the position. Bauer’s term ends in May 2026. Trump also said that interest rates should be 2 to 3 percentage points lower, and the dovish signal is bullish for Bitcoin.

3. El Salvador’s Central Bank added $5,000 in gold to its reserves on Thursday. The country also conducted its regular 1 Bitcoin purchase, bringing the total amount of Bitcoin held by the government to 7,547, worth $6.35M. The gold purchase – 9,298 troy ounces – brings the country’s total gold holdings to 67,403 ounces, valued at approximately $3.6b at current prices.

News

1. AC’s new project Flying Tulip has completed a total of $225.5 million in institutional financing so far

2. The Central Bank of Kazakhstan plans to expand the country’s cryptocurrency reserves with cryptocurrencies collected from criminals

3. The contract account of “$2.3 billion in funds to open long whales” has begun to lose money, and its long position is currently floating at a loss of $8,357

4. The chairman of the US CFTC said that the agency will formulate new prediction market rules

5. The U.S. Crypto Market Structure Act still passed the Senate key process despite opposition from the Democratic Party

6. Trump said he would announce the chairman of the Federal Reserve tonight, Beijing time

7. Ethereum developer Griff Green will use unclaimed funds from The DAO hack to establish a new security fund

8. SpaceX is reportedly considering merging with Tesla or xAI

9. Bitmine pledged 31.45 ETH again, with a cumulative pledge value of $79.8 billion

10. Trump: A new chairman of the Federal Reserve will be nominated next week, and interest rates should be 2 to 3 percentage points lower

11. Trump declared a national emergency and imposed tariffs on countries that exported oil to Cuba

The market trend

1. The latest news on Bitcoin: $BTC The short-term collapse violently, temporarily reported at around $84,140, liquidated $4.52 billion in the past 24 hours, and the main long order exploded;

2. The S&P 500 index and the Nasdaq index, which is dominated by technology stocks, closed lower on January 29. The latest earnings report has unsettled investors, and the market is worried about whether the huge spending on artificial intelligence by large technology companies will pay off. The Dow Jones Industrial Average narrowly closed in the red late the day, rising 55.96 points, or 0.11%, to 49,071.56. The S&P 500 broke off its intraday lows but still fell 9.02 points, or 0.13%, to close at 6,969.01. The Nasdaq Composite Index narrowed its losses in the final half of the hour, closing down 172.33 points or 0.72% to close at 23,685.12 points.

! [Bitcoin Liquidation Map] (https://img-cdn.gateio.im/webp-social/moments-87a9b3933a-7d0aa02eba-8b7abd-e2c905.webp)

(Source: Gate)

3. In the Gate BTC/USDT liquidation map, based on the current 84,418.90 USDT, if it falls to around $83,225, the cumulative liquidation amount of long orders will exceed $2.67 billion; If the rise point reaches around $87,174, the cumulative short order liquidation amount will exceed $12.1 billion. The amount of short liquidation is significantly higher than that of multiple parties, and it is recommended to reasonably control the leverage ratio to avoid triggering large-scale liquidation in market changes.

! [Bitcoin spot flow] (https://img-cdn.gateio.im/webp-social/moments-87a9b3933a-222fb03ade-8b7abd-e2c905.webp)

(Source: Coinglass)

4. In the past 24 hours, BTC spot inflows have been $28.5 billion, outflows are $36.2 billion, and net outflows are $7.7 billion.

! [Cryptocurrency Contract Flow] (https://img-cdn.gateio.im/webp-social/moments-87a9b3933a-549ec2b11a-8b7abd-e2c905.webp)

(Source: Coinglass)

5. In the past 24 hours, the net outflow of contract transactions such as $BULLA, $SENT, $PLAY, $PUMP, $AXS and other contracts has led the way, and there are trading opportunities.

X KOL Featured Views

Phyrex Ni (@Phyrex_Ni): “Today’s homework is difficult to write, the reason why it is put at the forefront is because there is no clear reason for the decline at all, or it seems that there are too many reasons but they are not the main reason, for example, some friends say that the overall decline in US stocks caused by the decline of Microsoft, but gold is also falling, some friends say that gold has risen too high and needs to be corrected, but the problems of gold and silver are good, and the overall needle is also pendulum after the needle is inserted, and the small partner is also falling. But the problem of sudden conflict is a sudden problem, but the overall rebound, and the small partner falls, but the problem of sudden conflict is a sudden problem.”

“And it is true that I didn’t find the main reason for the decline, I read a lot of teachers’ analysis, and I also talked to the truant @TJ_Research and Kitty @CatoKt4 (mainly they are the ones who can find online at this time) about the reasons for the decline, and there is no very clear answer. This is the idea of some friends, but for me, if I don’t find the reason for the decline, it’s hard to judge whether I have entered a link where I can buy the bottom.”

“For example, in the last Greenland incident, I bought the bottom when Trump TACO, because the event is very clear, at least I can fight for a rebound in the short term, and I can be prepared to deal with it after knowing the reason for the decline, probably speculating on the next reaction, but if I don’t know, I prefer to do nothing, take a look first, I originally planned to buy BTC at the point of purchase, but I just don’t know the reason, so I put it down temporarily.”

“Back to the data of Bitcoin, the turnover rate is not high, indicating that investors are at least not in a state of panic at the moment, instinct tells me that I should buy the dip now, but I am reluctant to buy now because I can’t find a reason to fall, I’m not sure how Asian investors will react during the day, but it is true that from the VIX point of view, they have fallen, and the US stock market is also rebounding, that is, the rebound force of BTC is very weak, which is a manifestation of poor liquidity, and I can still see funds to buy the bottom of US stocks. But there is no sign of buying cryptocurrencies at the bottom of the market. This is also a headache for me now, thinking that if you buy the bottom now, the profit margin may be limited, but the risk cost and capital occupancy rate are a little high, let’s look at tomorrow first, but I think the support around $83,000 is still quite strong, and I really don’t see any signs of investor panic.”

Today’s Forward-Looking

1. France’s preliminary GDP for the fourth quarter (quarterly rate), previous value was 0.5%

2. Germany’s seasonally adjusted unemployment rate in January (official), previous value was 6.3%

3. Germany’s seasonally adjusted GDP in the fourth quarter (quarterly rate), the previous value was 0.0%

4. Germany’s preliminary unseasonally adjusted GDP in the fourth quarter (annualized rate), the previous value was 0.3%

5. Eurozone unemployment rate in December, previous value 6.3%

6. Eurozone GDP preliminary value (annualized rate) in the fourth quarter, previous value was 1.4%

7. Eurozone GDP preliminary value (quarterly rate) in the fourth quarter, previous value was 0.3%

8. Canada’s GDP in November (monthly rate), previous value was -0.3%

9. US producer price index (annual rate) for December, previous value 3.0%