Day: March 4, 2025

IMF deal to ban public sector ‘Bitcoin accumulation’ in El Salvador

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The International Monetary Fund (IMF) is looking to tighten restrictions on Bitcoin purchases by El Salvador’s public sector as part of an extended $1.4 billion funding arrangement with the country. On March 3, the IMF issued a new request for an extended arrangement under its fund facility to El Salvador, filing several new documents, including a staff statement update and a statement by the executive director for El Salvador. The technical memorandum of understanding mentioned a condition of “no voluntary accumulation of BTC by the public sector in El Salvador.”…

This Bitcoin Range The Next Key Resistance, Analytics Firm Says

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The market intelligence platform IntoTheBlock has revealed where the next major obstacle for Bitcoin could lie, according to on-chain data. Bitcoin Has A Major Supply Wall Between $95,400 & $98,200 In a new post on X, IntoTheBlock has discussed about how the various BTC price ranges are looking in terms of on-chain resistance and support. In on-chain analysis, the strength of any support or resistance range is assumed to lie in the amount of supply that was last purchased/transacted by investors at price levels falling in said range. That is,…

BTC Drop to $84K Fills CME Gap a Day After Record Breaking Price Variance

A closely-watched gap in bitcoin’s (BTC) CME futures has been fully filled a day after a record jump in opening and closing prices, possibly setting the stage for the next climb. BTC soared to $92,000 on Monday, fueled by renewed institutional fervor after U.S. President Donald Trump announced plans for a strategic crypto reserve late Sunday, including the biggest token and ether (ETH), XRP, Solana’s SOL and Cardano’s ADA. However, the rally left a significant gap in the CME Bitcoin futures chart between Friday’s close at $84,500 and Monday’s open…

SBI’s crypto arm to support USDC as Japan softens stablecoin rules

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A cryptocurrency subsidiary of the Japanese financial conglomerate SBI is preparing to roll out support for Circle’s USDC stablecoin as local regulators soften stablecoin rules. On March 4, SBI VC Trade announced the completion of the first registration related to stablecoin transactions, enabling the firm to start processing USDC (USDC) transactions. After receiving full registration, SBI VC Trade expects to become one of the first financial platforms in Japan to offer cryptocurrency trading in USDC, the announcement noted. The platform plans to launch a USDC trading trial for selected users…

Cardano 125% Pump Coming? Analyst Says ADA ‘Could Be Poised’ For Rally To $2.20

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On Sunday, Cardano (ADA) saw a massive 80% pump following the US President’s announcement of a “Crypto Strategic Reserve” that will include ADA. As the cryptocurrency retests its key support levels, some analysts believe it might be poised for a 125% rally from current levels. Cardano Attempts Reclaiming $1 On March 2, US President Donald Trump announced the establishment of a “US Crypto Reserve” comprised of Cardano, XRP, and Solana (SOL), with Bitcoin (BTC) and Ethereum (ETH) at the heart of the strategic reserve. On his social media platform, Truth…

Bitcoin ETFs return to outflows amid market jitters over US tariffs and crypto reserve fund

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Spot Bitcoin ETFs in the U.S. shifted back to outflows on March 3 as Bitcoin retraced gains, driven by a risk-off sentiment stemming from trade tensions and skepticism over a U.S. crypto reserve fund. According to data from SoSoValue, the 12 spot Bitcoin ETFs resumed their outflow trend on Monday, with $74.19 million exiting the funds following a previous day of net inflows totaling $94.34 million. BlackRock’s IBIT led the outflows for the third consecutive day, with $77.97 million in net redemptions, while Grayscale’s GBTC continued its outflow trend with…

Bitcoin Repeats Historic Pattern—Is a Breakout Toward $100K Next?

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Este artículo también está disponible en español. Bitcoin and the broader cryptocurrency market have shown strong recovery, with Bitcoin surpassing $93,000 earlier today after an increase of nearly 10% in the past 24 hours. The surge follows the announcement of a US crypto strategic reserve, which is expected to include major digital assets such as BTC, ETH, SOL, XRP, and ADA. The news has fueled optimism in the market, pushing Bitcoin back above the $90,000 level. As Bitcoin’s price movement gains momentum, analysts appear to have been closely examining the…

Australia’s government has no plans to establish a strategic crypto reserve

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Australia’s government is not currently considering a strategic crypto reserve, despite US President Donald Trump announcing the effort in the United States just days earlier.   US President Donald Trump announced on March 2 that the President’s Working Group on Digital Assets was directed to include XRP (XRP), Solana (SOL), Cardano (ADA), Bitcoin (BTC) and Ether (ETH) in the crypto strategic reserve. A swathe of other US states are also considering adding crypto to their balance sheets.  However, it is understood the current ruling party has no plans to establish a…

Unwanted Windfall? THORChain Sees Record $4.6B Volume After Bybit’s $1.4B Hack

THORChain, a decentralized protocol enabling users to swap cryptocurrencies across various blockchains, has seen what can be described as an unwanted windfall after the Bybit hack. The protocol processed $4.66 billion in swaps in the week ended March 2, the highest tally on record, according to data source DefiLlama. The tally exceeded the $1 billion mark on Sunday alone. The surge in activity follows the hack of the crypto exchange Bybit on Feb. 22, which saw the North Korean malicious entity walk away with $1.4 billion in ether. Per observers,…