The crypto market continued its upward trajectory, with the market cap increasing by over 4% to reclaim the $3 trillion mark. Most cryptocurrencies traded in positive territory, and Bitcoin (BTC) reclaimed the $90,000 level after an increase of nearly 6% over the past 24 hours. The flagship cryptocurrency is trading at just under $92,000.
Other cryptocurrencies have registered substantial increases as well, with Ethereum (ETH) up nearly 5% while Ripple (XRP) is up 2.50% and trading at $2.50. Solana (SOL) is up over 4%, while Cardano (ADA) has registered a marginal increase over the past 24 hours. Dogecoin (DOGE) is up over 6%, while Pi (PI), which has been making waves recently, is up just over 1%. Chainlink (LINK) is up nearly 14%, while Stellar (XLM) is up 1.45%. Avalanche (AVAX), Litecoin (LTC), Toncoin (TON), and Polkadot (DOT) have also registered substantial increases. However, Hedera (HBAR) is down nearly 3%, in sharp contrast with the rest of the market.
CFTC And SEC Staff In Discussions Over Digital Assets
Staff at the United States Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are in talks about inter-agency collaboration on matters related to digital assets, according to comments by CFTC acting Chair Caroline Pham. Fox Business reporter Eleanor Terrett shared Pham’s comments. The SEC and CFTC have worked together before. However, Pham believes the regulatory agencies can take their cooperation to the next level for the good of the public and the market.
“We have restarted conversations at the staff level between the CFTC and SEC. We would like to work together. We have worked together well in the past and I look forward to getting back to regular order.”
SEC Commissioner Hester Pierce, who also leads the recently formed crypto task force commented on the discussions. Pierce’s pro-crypto stance saw her emerge as one of the voices that disagreed with the “regulation by enforcement” approach under Gary Gensler, which substantially hindered crypto innovation and growth under the previous administration. Pierce noted the importance of public participation in rule-making, stating,
“It is important to know what is an SEC remit and what is not… The crypto working group has started to identify what falls within the SEC’s jurisdiction and what does not, which is crucial. It is essential to involve the public in rulemaking discussions, and those affected by the rules should have the right to participate in rule-making.”
Trump Crypto Reserve To Mostly Be Bitcoin
Despite including several cryptocurrencies besides Bitcoin, President Donald Trump’s crypto reserve will be made up almost entirely of Bitcoin (BTC), according to Bitwise Chief Investment Officer Matt Hougan. Hougan stated in a March 5 market note,
“Market participants have soured on the announcement because the proposed reserve holds more than Bitcoin. The inclusion of small-cap assets in the announcement unnecessarily complicated matters.”
On March 2, Trump stated that the strategic reserve would include SOL, XRP, and ADA before adding that BTC and ETH would be at the heart of the reserve.
“After the dust settles, I suspect the final reserve will be nearly entirely Bitcoin, and it will be larger than people think.”
Bitcoin initially jumped at its inclusion in the reserve. However, the euphoria was short-lived as it dropped below $85,000 and recovered only after Trump delayed auto parts tariffs on Canada and Mexico. Trump’s decision to include other assets besides Bitcoin in the reserve drew flak from industry bigwigs who argued that Bitcoin is the only cryptocurrency suited for the reserve. Hougan further added,
“The inclusion of speculative assets like Cardano feels more calculating than strategic. Despite the flawed rollout, he thinks the market is misreading things. In the end, this is bullish.”
Bitwise Files Aptos ETF With SEC
Wealth manager Bitwise has submitted an S-1 form with the United States Securities and Exchange Commission (SEC) to list and trade shares for a spot Aptos ETF. The filing follows last week’s Delaware registration for an entity dubbed the Bitwise Aptos ETF. Aptos is the 36th largest token by market capitalization, with a market capitalization of nearly $4 billion. It provides Layer1 blockchain technology to thousands of users and developers. Bitwise has tapped APT’s Proof-of-Stake model to launch Aptos staking ETFs on six Swiss exchanges, allowing European investors to earn a crypto yield via regulated investment vehicles.
The US has seen a barrage of ETF applications outside of Bitcoin and Ethereum as authorities lay the building blocks for friendlier crypto regulations.
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) has bounced back to reclaim $90,000 after US President Donald Trump decided to delay imposing a 25% tariff on Canadian and Mexican imports. The decision grants a one-month exemption for automakers, easing concerns about a trade war that could significantly damage domestic manufacturing and weigh on the dollar, fueling demand for risk assets like crypto. The decision came after Trump met with Ford, General Motors, and Stellantis executives. Investors see the delay as an indication that tariffs will cause less economic disruption than anticipated.
BTC is trading just above the $91,500 mark, up nearly 5% over the past 24 hours. The broader crypto market has also recovered, with the market cap crossing $3 trillion. However, despite the improving market sentiment, interest in Bitcoin Futures is the lowest since October 2024, indicating traders are remaining cautious. However, blockchain analytics firm Santiment has reported a rise in smaller Bitcoin wallets over the past month as the network grows.
BTC was bearish for most of last week, registering substantial declines that saw the price fall below key support levels. BTC lost the $90,000 level on Tuesday and hit a low of $82,081 by Wednesday. Despite the overwhelming bearish sentiment, BTC recovered on Thursday, reaching an intraday high of $87,045 before settling at $84,656, ultimately registering a marginal increase. However, bearish sentiment returned on Friday as BTC plunged below $80,000 on its way to an intraday low of $78,173. The price recovered from this level to reclaim $80,000 and settle at $84,362, ultimately registering a marginal decline. Bullish sentiment returned over the weekend as BTC rose 2% on Saturday and settled at $86,182.
Source: TradingView
BTC rallied on Sunday thanks to Trump’s comments about a strategic reserve. As a result, the price rose over 9% to reclaim $90,000, move past the 20-day SMA and settle at $$94,322. However, the rally was short-lived as the price was back in the red on Monday, dropping nearly 9% to slip below $90,000 and the 20-day SMA and settle at $86,225. BTC fell to an intraday low of $81,500 on Tuesday as selling pressure intensified. However, it recovered from this level to register an increase of 1.27% and move to $87,316. Bullish sentiment persisted on Wednesday as BTC rose nearly 4% after Trump delayed auto tariffs on Canada and Mexico. As a result, the price crossed $90,000 and settled at $90,639. The current session sees BTC marginally up as it looks to move past the 20-day SMA.
The RSI is just below the neutral zone, indicating growing buying pressure. Tellingly the MACD has flipped to bullish, signaling that bears have lost momentum and bulls have the upper hand.
Ethereum (ETH) Price Analysis
Ethereum (ETH) has struggled in recent sessions thanks to weak on-chain activity, consistent spot ETF outflows, and a supply boost that has led to growing price concerns. Investors are also concerned about Solana (SOL) securing approval for spot ETFs and raising competition for institutional capital.
ETH was quite bearish last week, plunging below the 20-day SMA last Monday after a drop of nearly 11%. The price hit a low of $2,332 before recovering on Tuesday and fell to $2,256 on Wednesday. Sellers retained control on Thursday as ETH dropped over 1% to $2,308. Bearish sentiment intensified on Friday as ETH fell to an intraday low of $2,077. However, buyers stepped in at this level, and ETH rebounded to settle at $2,238, ultimately registering a drop of just over 3%. Sellers retained control on Saturday, and ETH dropped nearly 1% to settle at $2,218.
Source: TradingView
The price rebounded on Sunday after Trump discussed the strategic reserve. As a result, ETH surged nearly 14% to move past $2,500 and settle at $2,520. However, the rally was short-lived as the price collapsed on Monday, dropping almost 15% to $2,149. ETH continued to decline on Tuesday, hitting an intraday low of $1,996 and sparking fears of a deeper correction. However, the price recovered from this level to reclaim $2,000 and move to $2,172, registering an increase of over 1%. Buyers retained control on Wednesday as ETH rose 3.22% and moved to $2,241. The current session sees ETH up over 2% and trading at $2,288. Buyers will look to retain control and push towards the resistance at $2,500. A break above this level could see ETH move towards the $2,800 and $3,000 zone.
Solana (SOL) Price Analysis
Solana (SOL) has struggled to reclaim $150 since slipping below it last Monday when a drop of nearly 16% dragged it to $142. Despite the overwhelming bearish sentiment, SOL recovered on Tuesday, rising 1.60% to $144. Sellers returned to the market on Wednesday as SOL fell over 6%, slipping below $140 and settling at $135. However, the price recovered on Thursday, rising nearly 2% to $137. SOL plunged to an intraday low of $125 on Friday as selling pressure intensified. It rebounded from this level to register an increase of nearly 8% to reclaim $140 and settle at $148. However, sellers prevented a move higher as SOL fell over 3% on Saturday and settled at $143.
Source: TradingView
Markets rallied on Sunday, and SOL surged over 24% to go past $150 and the 20-day SMA and settle at $178. However, bullish sentiment was short-lived as the price fell nearly 21% on Monday to go below the 20-day moving average and $150 and settle at $142. The price fell to an intraday low of $130 on Tuesday before recovering to register an increase of 1.91% and settle at $144. Buyers retained control on Wednesday as SOL rose over 1% and settled at $146. The current session sees SOL up nearly 3% and trading at $149 as buyers look to push above $150. The MACD is bullish, indicating buyers have the advantage. If SOL can consolidate above $!50, it will look to move past the 20-day SMA towards the resistance at $180.
Dogecoin (DOGE) Price Analysis
Dogecoin (DOGE) plunged below the 200-day SMA last Monday, falling to $0.210 after a drop of over 13%. The price registered a marginal increase on Tuesday but fell back into the red on Wednesday, dropping over 4% to $0.203. Buyers prevented a further decline as DOGE rose almost 2% on Thursday and settled at $0.206. The price plunged to an intraday low of $0.181 on Friday as selling pressure intensified. However, the price rebounded from this level to reclaim $0.20 and settle at $0.201, ultimately registering a drop of 2.42%. Buyers returned to the market on Saturday as DOGE rose 2.38% and settled at $0.206.
Source: TradingView
Markets rallied on Sunday, and DOGE registered an increase of nearly 16%, settling at $0.239. However, the rally lost momentum on Monday as the price fell almost 17% to go below $0.20 and settle at $0.199. DOGE registered a marginal increase on Tuesday before rising nearly 3% on Wednesday to reclaim $0.20 and settle at $0.204. The current session sees DOGE up nearly 3% and trading at $0.210. The MACD has flipped to bullish, indicating DOGE could continue pushing higher during the next few sessions.
Hedera (HBAR) Price Analysis
Hedera (HBAR) has defied the trend of the broader market, rallying when most other tokens were struggling to shake off bearish sentiment. HBAR fell below $0.20 after last Monday’s decline and fell to $0.195 by Wednesday. However, it recovered on Thursday, rising nearly 2% and settling at $0.199. Sellers forced the price to a low of $0.179 on Friday. It recovered from this level to reclaim $0.20 and settle at $0.213, rising over 7%. Bullish sentiment intensified on Saturday as HBAR surged past the 20-day SMA, registering an increase of nearly 19% and settling at $0.253. Bullish sentiment persisted on Sunday as HBAR reached an intraday high of $0.285. However, it could not stay at this level and ultimately settled just below the 50-day SMA at $0.264, an increase of over 4%.
Source: TradingView
The price registered a substantial decline on Monday, falling over 15% to $0.224. Despite Monday’s drop, HBAR rose 7% on Tuesday to settle at $0.24. Buyers retained control on Wednesday as the price reached an intraday high of $0.265 before settling at $0.249, an increase of 3.48%. The current session sees HBAR marginally up as it looks to go past the 50-day SMA.
Optimism (OP) Price Analysis
Optimism (OP) went past the 20-day SMA on Wednesday after an increase of over 7% and settled at $1.15. However, buyers lost momentum after reaching this level, and the price fell over 4% on Thursday, slipping below the 20-day SMA and settling at $1.10. Sellers retained control on Friday as OP fell over 2% to $1.08 but not before reaching an intraday low of $1.01. OP continued to decline on Saturday, falling 3,54% to $1.04. Markets rallied on Sunday, and OP rose over 12% to surge past the 20-day SMA and settle at $1.17.
Source: TradingView
However, sellers retook control on Monday as the price fell nearly 16%, slipping below the 20-day SMA and $1 to settle at $0985. Bearish sentiment persisted on Tuesday as OP dropped over 4% to $0.944, but not before hitting an intraday low of $0.876. Despite the overwhelming bearish sentiment, OP recovered on Wednesday, rising nearly 5% and settling at $0.987. OP has reclaimed $1 during the current session and is trading at $1.02, up almost 4%.
Injective (INJ) Price Analysis
Injective (INJ) entered the weekend on a bearish note, dropping to an intraday low of $12.10 on Friday. However, it recovered from this level to reclaim $13 and settle at $13.33. Sellers retained control on Saturday as the price fell 2.41% to $13.01. The markets rallied on Sunday thanks to Trump’s announcement about the strategic reserve. As a result, INJ surged over 10% to go past $14 and settle at $14.33. However, it fell back on Monday, dropping nearly 17% to give up Sunday’s gains and settle at $11.96.
Source: TradingView
INJ continued to decline on Tuesday, falling to an intraday low of $10.07 as selling pressure intensified. However, it recovered from this level to reclaim $11 and settle at $11.05, ultimately registering a drop of nearly 8%. Buyers returned to the market on Wednesday as INJ surged over 9% to reclaim $12 and settle at $12.09. The current session sees INJ marginally up as buyers and sellers struggle to establish control. Buyers will look to retain control and push the price towards the 20-day SMA.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
