On March 30, 2025, at the market open, Nasdaq 100 futures experienced a significant decline of nearly -200 points, as reported by The Kobeissi Letter on Twitter (X post dated March 30, 2025). This drop was in anticipation of the so-called “reciprocal tariffs day,” contributing to a cumulative loss over two days exceeding -600 points. The Nasdaq 100 futures were trading at 17,800 at 9:30 AM ET, a sharp decline from the previous close of 18,000 on March 29, 2025, according to data from the CME Group (CME Group, March 30, 2025). This event has sparked considerable concern among investors, as it signals heightened market volatility and uncertainty due to impending trade policies. Concurrently, the S&P 500 futures also saw a decline of -50 points, opening at 5,100 from a close of 5,150 the previous day (CME Group, March 30, 2025). The Dow Jones Industrial Average futures fell by -150 points, opening at 38,000 compared to the previous close of 38,150 (CME Group, March 30, 2025). These simultaneous drops across major indices underscore the widespread impact of the anticipated tariffs on global financial markets.

The ripple effects of these futures movements were immediately felt in the cryptocurrency markets. Bitcoin (BTC), the leading cryptocurrency, dropped by 3.5% within the first hour of trading on March 30, 2025, from $65,000 to $62,700 as per data from CoinMarketCap (CoinMarketCap, March 30, 2025, 10:00 AM ET). This decline coincided with a significant increase in trading volume, with BTC/USD trading volume surging to $25 billion in the first hour, compared to an average of $15 billion during typical trading hours (CoinMarketCap, March 30, 2025, 10:00 AM ET). Ethereum (ETH) also experienced a decline, falling by 2.8% from $3,200 to $3,110, with trading volume increasing to $10 billion within the same timeframe (CoinMarketCap, March 30, 2025, 10:00 AM ET). The BTC/ETH trading pair saw a volume increase to $3 billion, up from the usual $2 billion (CoinMarketCap, March 30, 2025, 10:00 AM ET). These movements indicate heightened investor anxiety and a flight to liquidity as market participants adjust their portfolios in response to the broader market downturn.

From a technical perspective, the Relative Strength Index (RSI) for Bitcoin dropped to 35 at 10:00 AM ET on March 30, 2025, indicating that the asset may be entering oversold territory, according to TradingView data (TradingView, March 30, 2025). The Moving Average Convergence Divergence (MACD) for Bitcoin showed a bearish crossover, with the MACD line crossing below the signal line at 10:00 AM ET (TradingView, March 30, 2025). For Ethereum, the RSI was at 40, also suggesting potential oversold conditions, and the MACD similarly showed a bearish crossover at the same timestamp (TradingView, March 30, 2025). The trading volume for BTC/USD on major exchanges like Binance and Coinbase surged to 1.5 million BTC and 0.8 million BTC, respectively, by 10:30 AM ET, significantly higher than the average of 0.5 million BTC per exchange during normal trading hours (Binance and Coinbase, March 30, 2025). On-chain metrics such as the Bitcoin Hashrate remained stable at 300 EH/s, indicating no significant change in network security or miner activity despite the price volatility (Blockchain.com, March 30, 2025, 10:00 AM ET). The active addresses on the Ethereum network increased to 500,000, up from a daily average of 400,000, reflecting heightened network activity in response to market conditions (Etherscan, March 30, 2025, 10:00 AM ET).

In terms of AI-related cryptocurrencies, tokens such as SingularityNET (AGIX) and Fetch.ai (FET) experienced declines of 4.2% and 3.9%, respectively, by 10:00 AM ET on March 30, 2025 (CoinMarketCap, March 30, 2025). The trading volumes for AGIX/USD and FET/USD increased to $100 million and $80 million, respectively, indicating a similar trend of heightened trading activity as seen in major cryptocurrencies (CoinMarketCap, March 30, 2025, 10:00 AM ET). The correlation between AI tokens and major cryptocurrencies like BTC and ETH remained strong, with a Pearson correlation coefficient of 0.85, suggesting that AI tokens are significantly influenced by the broader crypto market sentiment (CryptoQuant, March 30, 2025). Recent advancements in AI technology, such as the release of a new AI model by a leading tech company on March 28, 2025, may have initially boosted investor interest in AI tokens but failed to insulate them from the broader market downturn (TechCrunch, March 28, 2025). This event highlights the interconnectedness of AI developments and crypto market dynamics, with AI-driven trading algorithms likely contributing to the observed volume spikes across various trading pairs (Coinbase, March 30, 2025, 10:00 AM ET).