Crypto/Bitcoin: Understand What is Moving in the Market and Why.
Signals That Move Markets
👇1-11) Bitcoin (BTC-USD is below the 7-day moving average -> bearish, and is below the 30 day moving average -> bearish, with 1 week change of +2.3%) dropped over the last 24 hours after President Donald Trump signed an executive order establishing a U.S. strategic Bitcoin reserve, using existing government-held tokens rather than new purchases, disappointing investors. The lack of immediate buying plans led to a sell off, with prices falling about 5% to around $85,000. Significant outflows from spot Bitcoin ETFs added further downward pressure.
👇2-11) Ethereum (ETH-USDT is below the 7-day moving average -> bearish, and is below the 30-day moving average -> bearish, with 1 week change of -1.6%) developers successfully activated the Pectra Upgrade on the Sepolia test network, a key step toward its mainnet rollout, despite initial hiccups. The upgrade, which went live with a perfect proposal rate, introduces enhancements like EIP-7251, raising the validator staking cap from 32 ETH to 2,048 ETH, and EIP-7702, enabling wallets to function as smart contracts for better user experience. However, a custom deposit contract glitch halted transactions for hours.
👇3-11) Solana (SOL-USDT is below the 7-day moving average -> bearish, and is below the 30-day moving average -> bearish, with 1 week change of -3.2%) Solana’s price dropped sharply after a whale transferred $71.95 million worth of SOL to Coinbase. Solana’s ecosystem saw a boost as DoubleZero, a project backed by a former Solana Foundation member, gained attention, briefly lifting sentiment. Reports of declining validator earnings and centralization risks from network upgrades dampened enthusiasm.
👇4-11) Ripple (XRP-USDT is below the 7-day moving average -> bearish, and is below the 30 day moving average -> bearish, with 1 week change of +11.7%) Ripple’s announcement of expanding its custody services in Europe with Unicâmbio briefly lifted sentiment, but gains were short-lived. Ripple Teamed Up with Revolut, Zero Hash for RLUSD. The partnership aims to challenge USDT and USDC dominance and enhance cross-border transaction efficiency.
👇5-11) Cardano (ADA-USDT is below the 7-day moving average -> bearish, and is below the 30-day moving average -> bearish, with 1 week change of 2%) The Cardano Foundation’s partnership with SERPRO, a major state-owned IT firm, briefly boosted sentiment. The launch of $USDA on Minswap, a Cardano-based stablecoin, aimed to stabilize the ecosystem but failed to offset the hack’s impact.
👇6-11) Ethena (ENA-USDT is above the 7-day moving average -> bullish, and is above the 30 day moving average -> bullish, with 1 week change of +5.4%) Ethena (ENA) saw its price plummet after a massive token unlock released 2.07 billion ENA, worth $740.71 million, flooding the market with 39.17% of its total supply and sparking a sell-off. Large investors moved 125 million ENA, valued at $45 million, to exchanges like Binance and Bybit, intensifying downward pressure as prices dropped to $0.3790.
👇7-11) Jupiter (JUP-USDT is below the 7-day moving average -> bearish, and is below the 30 day moving average -> bearish, with 1 week change of -23.7%) Jupiter's new team members have been allocated about 280 million JUP (3-4 years vesting period), and initially, the plan was to release the required JUP from the team's strategic reserve. Now, Meow plans to pre-provision these tokens with its entire JUP allocation (283 million after deducting 30%), and take this opportunity to gain strong support from the DAO and the community, lock it for another 5 years, and in return, it can request a reward of 220 million JUP in 2030.
👇8-11) Sui (SUI-USDT is below the 7-day moving average -> bearish, and is below the 30-day moving average -> bearish, with 1 week change of -7.6%) Mysten Labs acquired Parasol, enhancing blockchain gaming infrastructure. Mysten Labs, announced on March 6 that it had partnered with World Liberty Financial (WLFI). As part of the deal, Sui’s native token, SUI will be included in WLFI’s “Macro Strategy” strategic token reserve. WLFI relies on Aave v3 for lending and borrowing functions, leading to questions about its originality and independence.
👇9-11) Pendle (PENDLE-USDT is below the 7-day moving average -> bearish, and is below the 30-day moving average -> bearish, with 1 week change of -16%) introduced Community Listings to decentralize its yield market platform, allowing external protocols to create their own pools on Pendle. This move enables projects to deploy contracts, conduct audits, set pricing, and bootstrap liquidity independently, with Pendle’s team providing a final review before whitelisting on the app. The first asset listed under this mechanism is sUSDX, a synthetic stablecoin by Stable Labs, offering users yield and 3x S-Points incentives.
👇10-11) Aave (AAVE-USDT is below the 7-day moving average -> bearish, and is below the 30 day moving average -> bearish, with 1 week change of -6.1%) Aave DAO’s proposed buyback program for AAVE aims to enhance token value by allocating $1 million weekly for six months to repurchase tokens from secondary markets. This initiative, part of the “Aavenomics” overhaul, seeks to reduce supply and reward stakers. Aave Finance Committee will manage the program, potentially scaling it based on protocol revenue.
👇11-11) Ondo (ONDO-USDT is below the 7-day moving average -> bearish, and is below the 30-day moving average -> bearish, with 1 week change of -1.1%) Ondo Finance surpassed $1 billion in TVL, becoming the largest platform for real-world assets (RWA). This milestone comes on the heels of Ondo growing to control 24% of the tokenized treasuries market. A partnership with Mastercard to integrate tokenized treasuries into its Multi-Token Network lifted sentiment.