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Risk assets are taking a step back after the Federal Reserve confirmed its plan for two interest rate cuts in 2025. Former President Trump is urging the Fed to lower rates further to support his tariff strategy. However, cutting rates could fuel inflation, especially when combined with tariffs. Market expectations are that the Fed will hold off until June before making any cuts. At a press conference, Fed Chair Jerome Powell mentioned that any price hikes due to tariffs are likely to be temporary.
The crypto market has seen a strong rebound since the Fed's announcement, with Bitcoin (BTC) up 4%, breaking through the 85,000 resistance level to hit a high of 87,500. The BTC options market has also picked up some bullish momentum. Ethereum (ETH) has dropped 1.5%, lagging behind other major altcoins like Solana (SOL), SUI, and XRP. On a broader note, the US dollar and the 10-year yield have both weakened, giving risk assets some breathing room. BTC ETFs have also seen four consecutive days of inflows, which is a positive sign for momentum.
XRP has made headlines again following the resolution of Ripple's legal battle with the US SEC. Ripple CEO Brad Garlinghouse has hinted that an XRP ETF could launch by the end of 2025 and that XRP might even be included in the White House’s proposed digital asset stockpile, per a formal initiative from President Trump.
In other news, President Trump is expected to speak at Blockworks' Digital Asset Summit in New York, and traders are eager to hear how his administration plans to acquire BTC in a way that's budget-neutral.
The News Room
Traders increase leverage as Bitcoin rebounds in March
In March 2025, Bitcoin's price rebound led traders to increase leverage in the market. The cryptocurrency's price surged as investors became more optimistic about its growth, with a notable spike in the BTC options market. The increased leverage signals a growing confidence in Bitcoin’s upward momentum. Despite this, other assets like Ethereum (ETH) showed weaker performance compared to altcoins such as Solana (SOL) and XRP. The broader financial landscape saw a weakening of the US dollar and 10-year yields, offering some relief to risk assets. This increase in leverage also highlighted traders’ renewed bullish outlook on Bitcoin.
Deep liquidity cushioned Bitcoin’s price during March volatility
Bitcoin's price was shielded from volatility in March due to its deep liquidity, which helped maintain stability despite market fluctuations. A combination of lower volatility and growing institutional interest in BTC, including inflows into BTC ETFs, reinforced this stability. The cryptocurrency's price held up even amid broader financial market movements and macroeconomic concerns. Notably, Bitcoin's strong liquidity played a key role in absorbing market stress, keeping its price resilient during uncertain times.
Pump Fun’s slowdown triggers 97% collapse in Solana network earnings
Solana's network earnings have plummeted by 97%, driven by a slowdown in "pump fun" activities. This collapse is linked to the decline in network activity, with transactions and overall demand sharply falling. The decrease in Solana's network earnings signals a broader issue, as its once-thriving ecosystem struggles to maintain momentum. Despite this, the Solana community remains hopeful for a rebound, with some speculating that recent shifts in the market and platform enhancements could drive renewed interest in the blockchain. Solana’s ecosystem has been impacted by shifting investor sentiment and broader market conditions.
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Disclaimer
This research is for informational use only. This is not investment advice. Other than disclosures relating to Secure Digital Markets this research is based on current public information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on as such. The information, opinions, estimates, and forecasts contained herein are as of the date hereof and are subject to change without prior notification. We seek to update our research as appropriate.
Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation. The price of crypto assets may rise or fall because of changes in the broad market or changes in a company's financial condition, sometimes rapidly or unpredictably. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur. Fluctuations in exchange rates could have adverse effects on the value or price of, or income derived from, certain investments. We and our affiliates, officers, directors, and employees, excluding equity and credit analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives, if any, referred to in this research.
The information on which the analysis is based has been obtained from sources believed to be reliable such as, for example, the company’s financial statements filed with a regulator, company website, company white paper, pitchbook and any other sources. While Secure Digital Markets has obtained data, statistics, and information from sources it believes to be reliable, it does not perform an audit or seek independent verification of any of the data, statistics, and information it receives.
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Crypto and/or digital currencies involve substantial risk, are speculative in nature and may not perform as expected. Many digital currency platforms are not subject to regulatory supervision, unlike regulated exchanges. Some platforms may commingle customer assets in shared accounts and provide inadequate custody, which may affect whether or how investors can withdraw their currency and/or subject them to money laundering. Digital currencies may be vulnerable to hacks and cyber fraud as well as significant volatility and price swings.
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