- Sebastjan Bele
- Updated: March 20, 2025
- Reading time: 6 min
Bitcoin Reclaimed $85K, FED Held Interest Rates, XRP Lawsuit Dropped & Stablecoin Growth
Bitcoin rebounded to $85K after the Federal Reserve held interest rates steady but maintained its projection for two rate cuts later this year, providing a temporary lift to risk assets.
Meanwhile, the infamous Hyperliquid whale who had been aggressively shorting BTC closed a massive $520 million position, walking away with a $9.4 million profit as the market recovered.
In a major legal win for crypto, the SEC officially dropped its lawsuit against Ripple, fueling a 10% surge in XRP as regulatory clarity improved.
On the Ethereum front, stablecoin dominance continues to grow, with USDC and USDT facilitating over $850 billion in volume, reinforcing Ethereum’s role as the backbone of DeFi.
Elsewhere, Solana-based DEX Raydium is developing a memecoin launchpad to compete with Pumpfun, signaling that memecoin mania isn’t over just yet.
Institutional activity is also heating up—Canary Capital has filed with the SEC for what could be the first-ever SUI ETF, and Coinbase has launched verified liquidity pools in select regions to improve on-chain transparency.
Looking ahead, President Trump is set to address the Digital Assets Summit tomorrow, which could provide further insight into his pro-crypto stance and regulatory direction.
News:
- Bitcoin reclaims $85K following Fed decision and stock market gains, but one analyst urges caution
- Fed Rate Decision March 2025
- Infamous Hyperliquid leverage trader closes $520M short BTC position, netting $9.4M profit
- Ethereum’s stablecoin dominance grows as USDC and USDT drive $850B in volume
- XRP jumps 10% as Garlinghouse announces SEC is dropping case against Ripple
- Solana-based DEX Raydium developing competitor to Pump.fun memecoin factory
- Coinbase launches verified pools in select regions to enhance on-chain liquidity transparency
- Canary Capital files with SEC for what could be the first SUI ETF
- Kraken close to acquiring futures platform NinjaTrader for $1.5B
- President Trump to address Digital Assets Summit
Table of Contents
Markets
Best Performers
After last week’s low gains across the market, this week saw a stronger performance among select altcoins.
Four (FORM) led the pack, surging 92.98%, as investor interest picked up significantly.
PancakeSwap (CAKE) followed closely, rallying 58.30%, likely driven by increased DeFi activity and renewed excitement around its tokenomics.
Toncoin (TON) gained 33.60%, following the news that Nikolai Durov was permitted to leave France, which appeared to restore confidence in the Telegram-backed blockchain project.
Rounding out the list, OKB (+23.82%) and Cosmos (ATOM +22.60%) posted solid gains, reflecting continued strength in exchange tokens and interoperability-focused blockchain networks.
Chain Volumes
This week’s chain volume activity rankings paint an interesting picture—Binance Smart Chain (BSC) was the only major chain to see an increase, gaining 38.11% in weekly volume and securing the top spot.
In contrast, every other major chain saw significant declines, with Ethereum (-44.86%), Solana (-35.47%), and Arbitrum (-48.53%) all posting steep drops.
The biggest loser of the week was Base, which saw a staggering -50.95% decline, cutting its trading volume nearly in half. This sharp drop could indicate a cooling-off period for Base’s recent surge in activity, or simply a shift in liquidity to other networks.
With only one chain in the green and deep declines across the board, the data suggests a broader slowdown in trading activity, as traders navigate an uncertain market environment.
US Spot ETF Balances
US Bitcoin Spot ETFs
Current weekly inflows = -$2.35billion
Total Assets Under Management (AUM) = $95.72 billion*
US Ethereum Spot ETFs
Current weekly inflows = $20 million
Total Assets Under Management (AUM) = $8.90 billion*
*The data for BTC / ETH ETFs can vary, so we use Coinglass as our source.
Market Commentary
As expected, the Federal Reserve held interest rates steady, maintaining its cautious stance on future monetary policy.
Meanwhile, Bitcoin reclaimed $85K, aligning with its Daily EMA 200, and is now testing this level as support. The total crypto market cap now stands at $2.82 trillion, reflecting a 4.44% increase from last week’s $2.7 trillion.
Ethereum is trading just above $2K, but remains under pressure as it tests key support levels.
Traditional markets saw a strong rebound:
- S&P 500 gained 2.82% since last week
- NASDAQ climbed 2.66%
- Gold surged 3.76%, breaking past $3,000 to hit a new all-time high, signaling investor demand for safe-haven assets amid macroeconomic uncertainty.
In the crypto market, Bitcoin dominance sits at 60.6%, reflecting a continued consolidation of capital into BTC. The Fear and Greed Index stands at 49 (Neutral), indicating a wait-and-see sentiment among investors.
What’s Next?
Bitcoin reclaimed $85K, aligning with EMA200, and is now testing it as support—a crucial level for confirming further upside.
It feels like the market has adjusted to Trump’s unpredictability, with sentiment on X shifting noticeably bullish over the last two days. Even memecoins like Fartcoin are making their way back into discussions, suggesting that speculative appetite may be returning.
From a price action and technical perspective, the first step is BTC confirming $85K (EMA200) as support. If successful, the next target would be $92K, which remains the major resistance level.
As mentioned last week, if BTC breaks above $92K and claims it as support, it could be a matter of days before we reach $100K and push toward new all-time highs. However, if $92K holds as resistance, we may see a choppy market ranging between $85K and $92K.
Meme of the Week
We hope you enjoyed this week’s edition of Diary of a Market Maker ! Stay tuned for more insights, updates, and market-moving highlights as we continue to keep you informed and entertained in the ever-evolving world of crypto.
In the meantime, follow us on X (Twitter) and LinkedIn for real-time updates and more!
Until next time, happy trading and stay ahead of the curve!
Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial, investment, or other professional advice. All opinions expressed herein are solely those of the author and do not represent the views or opinions of any entity with which the author may be associated. Investing in financial markets involves risk, including the potential loss of principal. Readers should perform their own research and consult with a licensed financial advisor before making any investment decisions. Past performance is not indicative of future results.
Jakob Brezigar
Jakob, an experienced specialist in the field of cryptocurrency market making, boasts an extensive international presence. With Orcabay, he has skillfully managed major operations and deals for a wide array of global stakeholders.
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