A crypto market technician is debating whether Bitcoin has reached its peak this bull cycle, as technical indicators suggest a potential loss of momentum. The analysis report highlights technical indicators like the Relative Strength Index (RSI) which failed to reach past extremes, raising concerns about Bitcoin’s future trajectory. Bitcoin Indicators Fall Short Of Historical Peaks Bitcoin has historically exhibited strong indicator readings during major cycle tops, reflecting extreme market engagement and enthusiasm. However, in this bull cycle, the pioneer cryptocurrency’s RSI reading has failed to reach historical peaks despite Bitcoin reaching new all-time highs. Related Reading: Bitcoin Price Risks Further Crash As S&P Monthly LMACD Turns Bearish, Why Bulls Have Only 20 Days Tony Severino, a crypto market technician on X (formerly Twitter), has Bitcoin Price Risks Further Crash As S&P Monthly LMACD Turns Bearish, Why Bulls Have Only 20 Days a detailed analysis of Bitcoin, challenging the assumption that the cryptocurrency must reach the same overbought RSI levels as in previous cycles to confirm its market peak. The key argument here is that lower highs on oscillators like the RSI, combined with higher highs in Bitcoin’s price, can be a bearish signal, suggesting waning strength in the market. Severino shared an example comparing Bitcoin’s current bull cycle to past cycles. In the previous bull market, Bitcoin’s monthly RSI reached above 90, but its current cycle has not. The analyst posed a question about whether this inability to reach past extremes means that Bitcoin hasn’t reached a market top or simply lacked the same momentum to push its RSI to the highest level. The analyst has warned that believing that Bitcoin must reach past extremes on indicators before hitting a price peak is a dangerous way of thinking. Historical patterns do not always repeat in the same way, and relying too much on past indicator peaks could cause traders to miss warning signs of a top or underestimate the possibility of a bear market. Severino also pointed to historical data from the S&P 500 in the 1950s and 1960s, where similar RSI failure preceded a long market meltdown. During these times, cyclical peaks hit RSI readings of 77 or higher, but in 1969, the RSI failed to reach those highs, signaling underlying weakness. This market downturn ultimately led to the first lower low in over 20 years. While this historical behavior of the S&P 500 does not mean that Bitcoin is destined for a lower high, it does suggest that the cryptocurrency does not need to reach extreme RSI levels to confirm a cycle top and a subsequent bear market. Analyst Says BTC Has Hit Its Market Top In his analysis Severino confirmed that Bitcoin has already hit its market top for this bull cycle. Following his detailed analysis of Bitcoin’s RSI levels, a community member asked if Severino believes that Bitcoin reached a market top when its price surged above $109,000. Related Reading: This Analyst Predicted The Bitcoin Price Crash From $91,000, Why It’s Far From Over The analyst responded positively, stating that current market data indicates that the cryptocurrency hit its highest price point for this bull cycle after Donald Trump’s US Inauguration Day. At the time, Bitcoin soared past $109,000, setting a new ATH and surpassing previous records. Featured image from Unsplash, chart from Tradingview.com
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The US government may be preparing to overhaul the United States Agency for International Development (USAID), with blockchain technology set to play a pivotal role. A leaked internal memo has revealed that the Trump administration is evaluating a plan to reshape USAID’s structure, align it more closely with the State Department, and introduce emerging technologies […]
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In collaboration with industry, regulators and the community, plans include creating a framework for digital asset platforms and stablecoins.
Trump admin officials have crafted a proposal to rebrand USAID and leverage blockchain technology for a more transparent procurement process.
Eric Trump will assist the company in advancing its mission to expand its bitcoin treasury, Metaplanet CEO Simon Gerovich said.
The U.S. president did not announce any new executive actions on Thursday.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Bernstein cut their price targets for Bitcoin miners IREN, CleanSpark and Riot Platforms amid underperformance compared to BTC in 2025.
XRP jumped as high as 12% before paring gains, as closely-related Ripple Labs ended its long-standing battle with the U.S. Securities and Exchange Commission (SEC), stating Wednesday that the case had “come to an end.”
Can we expect a massive accumulation of Bitcoin during the presidency of US President Donald Trump? If we base it on the recent statements of Bo Hines, Trump’s pick to head its Digital Assets section, the industry will soon see an aggressive investment strategy from the US government. Hines shared the department’s plan during a speech at the digital assets summit. He mentioned they plan to invest “as many Bitcoins” as possible. Related Reading: XRP Vs. ETH: Bold Prediction Claims ‘Dying’ Ethereum’s Reign Is Ending The interview and Hines’s subsequent thoughts came after Trump approved an executive order on March 6th to create a cryptocurrency stockpile for altcoins and Bitcoin. However, Trump’s executive order clarified that the US government will not procure new cryptos for its stockpile; instead, it plans to hold all digital assets confiscated by the government as part of its regulation. We want “as much as we can get.” – @BoHines on Bitcoinpic.twitter.com/Sy86En8N1Q — Michael Saylor⚡️ (@saylor) March 18, 2025 From An Election Promise To Reality: Trump’s SBR Bitcoin, or a crypto stockpile, has been a hot topic in Washington and other crypto circles. During the elections, then-candidate Donald Trump teased the voters with his support for BTC and the blockchain and his plans to push for a crypto stockpile. At the Digital Summit in New York, Hines shared that the passage of the Strategic Bitcoin Reserve reflects the president’s commitment to his campaign promise. In his election cycle, the plans for a crypto reserve faced stiff challenges, specifically from the Securities and Exchange Commission (SEC) and its (former) chair, Gary Gensler. Trump positioned himself as pro-crypto and even promised to fire Gensler if he’s elected. Now that Gensler is out of the picture, Trump is more aggressive in promoting his crypto plans. Planned SBR Highlights Crypto’s Uniqueness In the same speech, Hines explained that the planned Strategic Reserve respects and promotes the digital asset’s unique features. For a start, Hines argued that the SBR is solely for Bitcoin and not for other altcoins like Cardano and Ripple’s XRP. Also, Hines shared how the department sees Bitcoin. According to the executive director, they see Bitcoin as a commodity, not a security. He said that Bitcoin has an “intrinsic store of value”. Hines also said that in Trump’s executive order, Bitcoin is compared to digital gold. Hines Calls On US Government To Invest More In BTC Hines highlighted many of Bitcoin’s unique features and claimed that the US government must hold and continue investing in Bitcoin. The current administration’s policies on Bitcoin and crypto assets starkly contrast with the Biden presidency, which exited its Bitcoin holdings and lost $17 billion. Related Reading: XRP Turnaround Moment? Analyst Says It’s Lift-Off Time Hines shared that the government’s aim is to start building its Bitcoin holdings instead of liquidating them. He then revealed plans to work with the Secretary of Commerce and the Treasury to define budget-neutral approaches to buying more Bitcoins. Featured image from Coinpaper, chart from TradingView
The SPAC seeks to raise $179 million to fund its acquisition of a company in the crypto, blockchain or dual-use technology sectors.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Matt Hougan argues this is due to the way Wall Street values assets, with the market effectively walking through these calculations for BTC, too.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
While some have suggested the crypto market has already peaked, Bernstein argues the current cycle is still in its early stages.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The U.S. "risks sinning through negligence," Villeroy said in an interview with French newspaper La Tribune Dimanche
Global crypto investment products saw further net outflows of $1.7 billion last week, according to asset manager CoinShares.
US President Trump’s outspoken acceptance of near-term economic hardship has placed risk assets—including Bitcoin (BTC) and the broader crypto market—under mounting pressure. According to a thread by The Kobeissi Letter on X, President Trump’s strategy revolves around tolerating significant “short term pain” in order to drive down inflation and facilitate the refinancing of over $9 trillion in US debt. Will Crypto Survive Trump’s ‘Short-Term Pain’ Strategy? The impact on cryptocurrencies has been immediate and pronounced. While US equities have shed an estimated $5 trillion in market value this year, digital assets have also suffered steep losses. Since President Trump’s inauguration on January 21, Bitcoin (BTC) has declined by approximately -23%, Ethereum (ETH) has tumbled by roughly -43% and the broader crypto market has experienced even more dramatic price drops. Related Reading: Crypto Bull Run Isn’t Over—It’s Just Changing, Says Analyst Although high volatility is nothing new in crypto, the synchronized downturn suggests that crypto assets are not immune to macroeconomic forces. The Kobeissi Letter adds, “Based on our research, President Trump made this conclusion BEFORE inauguration. However, he began formally articulating it on March 6th. Below is the headline that destroyed investor confidence in 2025. President Trump is no longer the ‘stock market’s President’ (for now).” The Kobeissi Letter points to March 9 as the date President Trump further confirmed his stance by noting that America is in a “period of transition” and that it will “take a little time,” implying a willingness to tolerate near-term market turbulence. During this period, Commerce Secretary Lutnick’s statement on March 6—“Stock market not driving outcomes for this admin”—was followed by Treasury Secretary Bessent’s remark, “Not concerned about a little volatility.” Although The Kobeissi Letter’s analysis notes that the administration’s viewpoint solidified before inauguration, it cites President Trump’s urgent focus on the year 2025, when $9.2 trillion in US debt will either mature or need to be refinanced. The thread states, “First, as we have previously noted, the US is facing a massive refinancing task. In 2025, $9.2 TRILLION of US debt will either mature or need to be refinanced. The quickest way to LOWER rates ahead of this colossal refinancing would be a recession.” Related Reading: Economic Turmoil: Crypto Market Loses 25% Of Value As Recession Worries Mount Beyond debt concerns, The Kobeissi Letter also highlights the administration’s drive to reduce oil prices and the US trade deficit as part of the same economic calculation. Since President Trump took office, oil has fallen by over 20%. “Furthermore, a clearly defined part of President Trump’s strategy has been to LOWER oil prices. Oil prices are down 20%+ since Trump took office. This morning, Citigroup said oil prices falling to $53 would lower inflation to 2%. What would lower oil prices? A recession.” Meanwhile, the administration’s extensive use of tariffs, which The Kobeissi Letter describes as “levying tariffs on almost ALL US trade partners,” is chipping away at GDP growth estimates, further hinting that a deliberate slowdown is in motion. The Kobeissi Letter also notes, “On top of this, DOGE and Trump are attempting to cut TONS of government jobs. These are the same jobs that have accounted for much of the recent job ‘growth’ in the US. Government jobs have risen by 2 million over the last 4.5 years. Cutting these jobs will spur a recession.” DOGE leader Elon Musk appears resigned to short-term declines. Even after Tesla (TSLA) recorded its seventh-largest historical drop on March 10, Musk posted that “It will be fine long-term.” For crypto traders and investors, the “short term pain” scenario by Trump is currently dictating the price action. The question, the analysts from The Kobeissi Letter posit, is whether this will lead to a more favorable economic landscape in the long run. “Is the ‘short term pain’ worth the ‘long term gain’ in President Trump’s economic strategy?”. At press time, the BTC price remained under heavy downward pressure and traded at $82,000. Featured image from Shutterstock, chart from TradingView.com
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
President Donald Trump’s family DeFi project, World Liberty Financial (WLFI), has officially concluded its WLFI token sale, which raised approximately $590 million, according to details shared on its website. According to Satoshi Club, this achievement places it among the top ten largest token fundraising events in the crypto industry. WLFI WLFI has a total supply […]
The post Trump-backed DeFi project WLFI closes raise surpassing goal reaching $590 million appeared first on CryptoSlate.
Crypto represents a small but growing part of Russia's $192 billion oil trade, with companies using BTC, ETH and USDT, the sources said.
Around 25% of the tokens have been sold, where its co-founder previously said 63% of the total supply is set to be sold to the public.
Changpeng Zhao has dismissed a Wall Street Journal (WSJ) report suggesting he is discussing an investment deal with the family of US President Donald Trump in Binance.US, the American division of the global Binance crypto exchange. On March 13, Zhao took to X to refute the claims, calling the article an attempt to undermine both […]
The post CZ says Trump not seeking to invest in Binance US, denying another WSJ story appeared first on CryptoSlate.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Several members of Donald Trump’s cabinet have significant Bitcoin holdings, with their combined investments valued in the millions, according to their financial disclosure reports. These disclosures show that cabinet members have gained exposure to Bitcoin through direct purchases on crypto exchanges and investment vehicles like exchange-traded funds (ETFs). The presence of crypto-friendly figures in the […]
The post Donald Trump cabinet’s Bitcoin investments raise ethics alarms in pro-crypto era appeared first on CryptoSlate.
Representatives for the Trump family reportedly held talks with Binance to take a stake in the crypto exchange giant's U.S. arm.
Bitcoin (BTC) recorded slight gains as the Consumer Price Index (CPI) inflation rate for February came in lower than expected. The softer inflation reading fuelled hopes of interest rate cuts by the US Federal Reserve (Fed), potentially benefiting risk-on assets. Bitcoin Jumps As Inflation Cools According to data from the US Bureau of Labor Statistics, the CPI increased by 0.2% in February on a seasonally adjusted basis, bringing the annual inflation rate down to 2.8%. This figure not only fell below economists’ projection of 2.9% but also marked a decline from January’s 0.5% monthly increase. Related Reading: Bitcoin Faces CPI Shock—But Research Firm Says ‘Buy The News’ Additionally, the core CPI – an inflation measure excluding food and energy prices – rose 0.2% month-over-month, underperforming most forecasts of 0.3%. On an annual basis, core CPI came in at 3.1%, slightly below the 3.2% consensus. The lower-than-anticipated inflation data has reignited investor optimism, with hopes the Fed may pivot to a more dovish monetary policy by cutting interest rates to boost market liquidity. Lower interest rates typically favor risk-on assets like stocks and cryptocurrencies. Following the data release, BTC posted modest gains, climbing from approximately $81,000 to $84,500. Leading memecoin Dogecoin (DOGE) also saw a 2.9% rise in the past 24 hours. It’s worth noting that last month, BTC declined after CPI data came in hotter than expected. Since then, US President Donald Trump’s economic policies – particularly high trade tariffs on countries like Canada, Mexico, and China – have further hindered bullish momentum for digital assets. Earlier this month, BTC experienced one of its sharpest declines, dropping from around $94,700 on March 2 to as low as $76,800 on March 11. Over the same period, the total crypto market cap shrank by approximately $600 billion, falling from $3.2 trillion to approximately $2.6 trillion at the time of writing. BTC Price Projected To Make Recovery While the current bearish trend has dragged BTC and other cryptocurrencies to multi-month lows, industry experts believe digital assets are likely to rebound in the later quarters of 2025. Related Reading: Bitcoin Plays Chicken With Central Banks As Dollar Falls, Says Expert For instance, crypto entrepreneur Arthur Hayes recently suggested that while BTC may face further declines in the short term, central banks will likely resort to quantitative easing to stabilize stock markets – a move that could also help risk-on assets recover their losses. Similarly, recent analysis by CryptoQuant contributor ibrahimcosar forecasts that despite the current downturn, BTC is poised to reach $180,000 by 2026. A weakening US dollar is also likely to hasten the price recovery. At press time, BTC trades at $81,541, reflecting a 0.6% gain over the past 24 hours. Featured image created with Unsplash, charts from TradingView.com
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.