- Dogecoin (DOGE) dropped 3% while Bitcoin and Ethereum remained flat as tariff concerns eased but recession fears grew.
- VeThor (VTHO) surged 37% following UFC CEO Dana White joining as strategic advisor.
- Traders have shifted to favoring Bitcoin $100,000 call options, with nearly $1.2 billion in notional open interest.
Dogecoin fell 3% in the past 24 hours while Bitcoin and Ethereum remained stable as concerns about tariffs gradually subsided among traders. However, data shows U.S. recession fears have increased in betting markets, with odds of a 2025 recession now ranging between 40% and 60%.
"Prominent financial figures have started to warn that the U.S. is heading into an imminent recession," said Augustine Fan, head of insights at SignalPlus, in a Telegram message to CoinDesk. "Our view is that it probably doesn’t matter, as sentiment often frames reality, not the other way around."
The broad-based CoinDesk 20 index slid nearly 2%, with DOGE leading the losses. Solana’s SOL, Tron‘s TRX, and Cardano‘s ADA dropped up to 2.5%, while BNB Chain’s BNB and XRP showed little change as Bitcoin maintained the $85,000 level.
Notable Token Movements
VeThor’s VTHO token zoomed 37% after UFC CEO Dana White joined the protocol as a strategic advisor, boosting hopes for mainstream adoption of the RWA-focused token. The announcement was shared on VeChain‘s official Twitter account.
Meanwhile, Mantra’s OM token showed a 20% rise over 24 hours to trade at 63 cents in Asian morning hours Tuesday, following a bizarre sell-off that saw it lose 90% within an hour late Sunday. A recovery plan is reportedly in development, though market watchers remain skeptical.
In another volatile move, Story Protocol’s IP token dumped 20% before jumping more than 30% within hours late Monday, sparking fears of another potential sell-off similar to OM’s crash.
Trader Sentiment Shifting
Singapore-based QCP Capital noted in a Telegram broadcast that Bitcoin risk reversals remained skewed toward puts until June, suggesting markets are still cautiously positioned in the near term.
"On Saturday, we observed aggressive buying of 800x BTC-27MAR26-100k-C. BTC continues to consolidate within the $80k-$90k range," QCP reported. The $100,000 call option has emerged as traders’ most favored bet, with notional open interest of nearly $1.2 billion.
Some traders believe the worst of tariff-related concerns may be behind us. Jupiter Zheng, partner at HashKey Capital, told CoinDesk: "The current upward trend was further bolstered by the Federal Reserve’s assurance that it stands ready to intervene and stabilize markets in the event of a crisis triggered by the tariffs."
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