Share this
Week of March 11-17, 2025
U.S. President Donald Trump has signed an executive order to establish a National Strategic Bitcoin Reserve, beginning with nearly 200,000 BTC that were previously seized. The U.S. Digital Asset Stockpile will be overseen by the U.S. Department of the Treasury.
The U.S. government clarified that no taxpayer money will be used to invest in Bitcoin or digital assets. Instead, they will explore appropriate investment strategies moving forward.
In a related move, the Office of the Comptroller of the Currency (OCC) has removed stringent requirements for banks engaging in crypto activities. This change now allows commercial banks to participate in cryptocurrency transactions, including stablecoin-related services.
Conor Grogan, a Coinbase executive, believes that the creation of the Strategic Bitcoin Reserve could reduce Bitcoin’s selling pressure by over $18,000, stemming from the 198,109 BTC held by the U.S.
Despite this, data from IntoTheBlock reveals that whale-level investors have reduced their Bitcoin holdings to the lowest point in 6 years. However, the number of Bitcoin withdrawals from exchanges still exceeds deposits, suggesting continued buying pressure in the broader market.
Meanwhile, Pham Minh Chinh, the Prime Minister of Vietnam, has instructed the Ministry of Finance and the State Bank of Vietnam to accelerate the creation of a legal framework for digital currencies. The proposed approach is expected to lean toward promotion rather than strict regulation.
Technical Analysis
Bitcoin (BTC)
Bitcoin (BTC) continues to face selling pressure despite not yet testing the lowest point at $78,000. However, the current trend indicates a possible drop to $76,000. If buying pressure returns, the price may aim for the resistance at $100,000. If support fails to hold, cutting losses is advisable.
- Support: 2,600,000 THB / 76,000 USD
- Resistance: 3,400,000 THB / 100,000 USD
Ethereum (ETH)
Ethereum (ETH) has a bearish medium-term outlook, having broken through the key support level at $2,000. If the $1,800 support level fails, cutting losses is recommended. For ETH to regain bullish momentum, it must break the resistance at $2,550.
- Support: 60,000 THB / 1,800 USD
- Resistance: 96,000 THB / 2,550 USD
Aptos (APT)
Aptos (APT) fell -5.70% over the past week, trading sideways within the lower range. The support at $0.815 is a crucial entry point, with a stop-loss recommended if the price breaks below this level. Resistance is at $1.1478, which, if surpassed, could lead to a potential uptrend.
- Support: 160 THB / 0.8150 USD
- Resistance: 240 THB / 1.1478 USD
Tron (TRX)
Tron (TRX) declined -2.28% over the past week, trading sideways. The support level at $0.200 may serve as an entry point, but if it fails, a stop-loss is recommended. Resistance is at $0.2700, with a suggested strategy of buying at support and selling at resistance within this range.
- Support: 7.2 THB / 0.2000 USD
- Resistance: 9 THB / 0.2700 USD
Investment Trends
Despite Donald Trump’s announcement of the Strategic Bitcoin Reserve, Bitcoin (BTC) faced selling pressure. This stems from market disappointment that no new BTC purchases will occur, as the seized Bitcoin will be converted into the national reserve. Market optimism had anticipated fresh Bitcoin purchases, contributing to the recent correction.
However, the U.S. is exploring ways to invest in Bitcoin without involving taxpayer money. If a clear strategy emerges, this could positively impact the market. In the short term, watch the $74,000 - $78,000 support zone. If these levels fail, Bitcoin’s main trend could shift downward.
This week, the Consumer Price Index (CPI) report, set for release on Wednesday, March 12, is expected to show a decrease to 2.9% from the previous 3%. A positive CPI result could boost market sentiment, potentially leading to lower interest rates if the U.S. Federal Open Market Committee (FOMC) reconsiders its policy.
Investment Strategy: Focus mainly on Bitcoin, as the outlook for altcoins remains weak. Gradual investments between $74,000 - $78,000 are recommended. If prices fail to hold, cutting losses at this zone offers a reasonable risk-reward ratio. With an upside potential of 20%+ and limited downside risk, this presents a strategic opportunity for investors.
References
- https://www.theblock.co/post/345291/at-crypto-summit-trump-says-he-aims-to-have-stablecoin-legislation-before-august-and-will-end-crypto-debanking
- https://www.theblock.co/post/345324/top-us-banking-regulator-rescinds-previous-digital-asset-restrictions-amid-trumps-push-to-end-crypto-debanking
- https://www.theblock.co/post/345118/coinbase-exec-says-trumps-strategic-bitcoin-reserve-could-remove-about-18-billion-of-sell-side-pressure
- https://bitcoinist.com/bitcoin-whale-holdings-drop-to-six-year-low-is-a-deeper-price-decline-ahead/
- https://e.vnexpress.net/news/business/economy/vietnam-pm-wants-draft-policy-on-cryptos-submitted-this-month-4855827.html
Disclaimers
- Cryptocurrencies and digital tokens are highly risky; investors may lose all investment money. It is important to study information carefully and invest based on your own risk profile.
- Past returns or performance of digital assets do not guarantee future returns or performance.
Remark: The views, information, knowledge, and opinions expressed herein are those of the individuals involved and do not represent the views of Bitazza or its employees. Neither this email nor the content presented constitutes investment advice.