It was another eventful and highly volatile week in the cryptocurrency industry that began on the wrong foot, yet again. Let\u2019s dive in.<\/p>\n
After a relatively sluggish weekend, which BTC spent at around $86,000 without any major moves in either direction, Monday began with some volatility that pushed the asset south to $80,000 before it bounced off to $84,000.<\/p>\n
However, that was a short-lived relief rally as bitcoin nosedived once again on Tuesday. This time, though, the plunge was even more painful as BTC slumped below $77,000 for the first time since early November 2024.<\/p>\n
The bulls finally managed to intercept the move and didn\u2019t allow a further breakdown. Just the opposite, bitcoin shot up to $84,000 a day later after the better-than-expected CPI numbers<\/a> for February. Nevertheless, the cryptocurrency failed to maintain its run and slipped back to $81,000 and even $80,000 on Thursday and early Friday.<\/p>\n Its consolidation continued in the past 12 hours or so, but this time to the upper boundary of that channel. As of now, BTC is close to $84,000, but the overall landscape remains grim. In fact, the weekly scale is quite painful as most crypto assets are deep in the red. Bitcoin leads the pack with a 6% decline since this time last Friday.<\/p>\n Many altcoins have underperformed, which led to a surge of BTC\u2019s dominance<\/a> to a four-year high. Some of the most affected alts are ETH (-13%), DOGE (-16%), ADA (-17%), LINK (-16%), LTC (-13%), and SUI (-18%).<\/p>\n <\/a>Weekly Market Overview: Source: QuantifyCrypto<\/p>\n Market Cap: $2.811T | 24H Vol: $94B | BTC Dominance: 58.9%<\/p>\n BTC: $83,092 (-6.4%) | ETH: $1,895 (-8.3%) | XRP: $2.3 (-8.3%)<\/p>\n SEC Reportedly Considering Classifying XRP as a Commodity<\/strong>. Although the legal tussle between the SEC and Ripple continues in regards to XRP\u2019s status in the country, recent reports<\/a> claimed that the regulator might change its tune completely and classify the cross-border token as a commodity, similar to its view of Ethereum (ETH).<\/p>\n Will Trump\u2019s \u2018Short-Term Pain\u2019 Plan Result in Long-Term Gains for Crypto?<\/strong>\u00a0According<\/a> to market experts, Trump\u2019s current policy has focused on \u2018short-term pain\u2019 to lower inflation as well as the interest rates for the long haul. While that has had a catastrophic effect on the crypto market in recent weeks, analysts suggest that it could benefit the industry on a broader scale.<\/p>\n MGX Invests $2B in Binance in Historic Crypto Funding Deal<\/strong>. Binance announced<\/a> earlier this week that it had received a record-setting investment from one of the largest UAE-based investment firms, MGX. The funding, worth $2 billion, marks MGX\u2019s first foray into the cryptocurrency industry.<\/p>\n Ethereum Nears Key Historical Levels That Preceded Major Rallies<\/strong>. Ethereum\u2019s consistent price declines since mid-January this year resulted in the asset slashing 50% of its value within weeks. This led to a drop to bear-market levels of well below $2,000. However, history suggests<\/a> that this could be a blessing in disguise and a good accumulation point, and many whales tend to agree by acquiring massive portions of ETH<\/a>.<\/p>\n Almost $400 Million in BTC: Big Whales And Sharks Rebuilding Positions, Time to Buy Bitcoin?<\/strong>\u00a0It\u2019s not just ETH, though. Large Bitcoin entities, also known as whales and sharks, have accumulated<\/a> roughly $400 million worth of BTC within a small time window as the cryptocurrency\u2019s price tumbled at the start of the week.<\/p>\n Bitcoin\u2019s MVRV Ratio Falls to Yearly Lows \u2013 Is This the Ultimate Buy Signal?<\/strong>\u00a0BTC\u2019s declining price pushed south many key metrics, including<\/a> the Market Value to Realized Value (MVRV) indicator. With it now sitting at 1.8 (the lowest since the 2024 correction), the question arises whether this is a proper entry point.<\/p>\n This week, we have a chart analysis of Ethereum, Ripple, Cardano, Hyperliquid, and Solana \u2013 click here for the complete price analysis.<\/a><\/p>\n The post BTC Price Maintains $80K After Favorable CPI Data, XRP to Get Commodity Status? (Your Weekly Recap)<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" It was another eventful and highly volatile week in the cryptocurrency industry that began on the wrong foot, yet again. Let\u2019s dive in. After a relatively sluggish weekend, which BTC spent at around $86,000 without any major moves in either direction, Monday began with some volatility that pushed the asset south to $80,000 before it […]<\/p>\n","protected":false},"author":0,"featured_media":51923,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-51922","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/51922"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51922"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/51922\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/51923"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Market Data<\/h2>\n
This Week\u2019s Crypto Headlines You Can\u2019t Miss<\/h2>\n
Charts<\/h2>\n
![<\/a>Weekly Market Overview: Source: QuantifyCrypto<\/p>\nMarket Cap: $2.811T | 24H Vol: $94B | BTC Dominance: 58.9%<\/p>\nBTC: $83,092 (-6.4%) | ETH: $1,895 (-8.3%) | XRP: $2.3 (-8.3%)<\/p>\nThis Week\u2019s Crypto Headlines You Can\u2019t Miss<\/h2>\nSEC Reportedly Considering Classifying XRP as a Commodity<\/strong>. Although the legal tussle between the SEC and Ripple continues in regards to XRP\u2019s status in the country, recent reports<\/a> claimed that the regulator might change its tune completely and classify the cross-border token as a commodity, similar to its view of Ethereum (ETH).<\/p>\nWill Trump\u2019s \u2018Short-Term Pain\u2019 Plan Result in Long-Term Gains for Crypto?<\/strong>\u00a0According<\/a> to market experts, Trump\u2019s current policy has focused on \u2018short-term pain\u2019 to lower inflation as well as the interest rates for the long haul. While that has had a catastrophic effect on the crypto market in recent weeks, analysts suggest that it could benefit the industry on a broader scale.<\/p>\nMGX Invests $2B in Binance in Historic Crypto Funding Deal<\/strong>. Binance announced<\/a> earlier this week that it had received a record-setting investment from one of the largest UAE-based investment firms, MGX. The funding, worth $2 billion, marks MGX\u2019s first foray into the cryptocurrency industry.<\/p>\nEthereum Nears Key Historical Levels That Preceded Major Rallies<\/strong>. Ethereum\u2019s consistent price declines since mid-January this year resulted in the asset slashing 50% of its value within weeks. This led to a drop to bear-market levels of well below $2,000. However, history suggests<\/a> that this could be a blessing in disguise and a good accumulation point, and many whales tend to agree by acquiring massive portions of ETH<\/a>.<\/p>\nAlmost $400 Million in BTC: Big Whales And Sharks Rebuilding Positions, Time to Buy Bitcoin?<\/strong>\u00a0It\u2019s not just ETH, though. Large Bitcoin entities, also known as whales and sharks, have accumulated<\/a> roughly $400 million worth of BTC within a small time window as the cryptocurrency\u2019s price tumbled at the start of the week.<\/p>\nBitcoin\u2019s MVRV Ratio Falls to Yearly Lows \u2013 Is This the Ultimate Buy Signal?<\/strong>\u00a0BTC\u2019s declining price pushed south many key metrics, including<\/a> the Market Value to Realized Value (MVRV) indicator. With it now sitting at 1.8 (the lowest since the 2024 correction), the question arises whether this is a proper entry point.<\/p>\nCharts<\/h2>\nThis week, we have a chart analysis of Ethereum, Ripple, Cardano, Hyperliquid, and Solana \u2013 click here for the complete price analysis.<\/a><\/p>\nThe post BTC Price Maintains $80K After Favorable CPI Data, XRP to Get Commodity Status? (Your Weekly Recap)<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"It was another eventful and highly volatile week in the cryptocurrency industry that began on the wrong foot, yet again. Let\u2019s dive in. After a relatively sluggish weekend, which BTC spent at around $86,000 without any major moves in either direction, Monday began with some volatility that pushed the asset south to $80,000 before it […]<\/p>\n","protected":false},"author":0,"featured_media":51923,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-51922","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/51922"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51922"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/51922\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/51923"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/03\/Screenshot-2025-03-14-154452.jpg\"){kind=link}