Week of March 18-24, 2025

Gold ETFs have overtaken Spot Bitcoin ETFs in terms of assets under management, recording the highest inflows in two years since March 2022. Gold ETFs saw a 12.5% increase over the past three months, while Bitcoin (BTC) declined by 19%.

Spot Bitcoin ETFs, meanwhile, saw net inflows on only five days in February and just one day in March this year. As a result, total net inflows year-to-date in 2025 have hit a low, with fund values down 25% from their peak, following Bitcoin’s price dip.

BlackRock reported holding over 567,000 BTC, valued at $47.8 billion, making it one of the world’s top Bitcoin holders. It also holds over $2.3 billion in Ethereum, along with stablecoins and altcoins.

On the legislative front, Senator Cynthia Lummis has proposed the BITCOIN Act, which would allow the U.S. to purchase Bitcoin for its Strategic Reserve, potentially acquiring over 1 million BTC. Rather than direct buying, the proposal suggests these purchases could come from asset seizures, donations, or transfers between government agencies.

Meanwhile, Deutsche Börse (the Frankfurt Stock Exchange) plans to launch digital asset custody and settlement services for institutional clients in 2025 to meet growing demand. Services will initially cover Bitcoin and Ethereum (ETH), with plans to expand to staking and lending.

In Asia, the Singapore Exchange (SGX) is set to roll out Bitcoin Perpetual Futures trading in the second half of 2025, exclusively for institutional and professional investors, offering more diversified investment tools.

Technical Analysis

Bitcoin (BTC)

Bitcoin (BTC) has lifted off its recent lows, with the Relative Strength Index (RSI) showing upward momentum, indicating a short-term bullish trend. However, caution is warranted as a drop below the key support level of $76,000 could trigger further downside. The first resistance to watch is $93,000. A breakout above this level could signal the end of the downward trend and open the door for a possible reversal.

• Support: 2,600,000 THB / 76,000 USD
• Resistance: 3,100,000 THB / 93,000 USD

Ethereum (ETH)

Ethereum (ETH) remains in a bearish trend, though the price has started stabilizing. It’s crucial to monitor the $1,700 support level. Holding above this could present a buying opportunity, with short-term profit-taking potential at $2,550, given the still-weak upward momentum.

• Support: 56,000 THB / 1,700 USD
• Resistance: 96,000 THB / 2,550 USD 

TONCoin (TON)

TONCoin (TON) delivered a strong 24.56% return over the past week, following a swift price recovery after the news of the founder being granted permission to leave the country. In the short term, keep an eye on the previous low of $2.340 as the stop-loss level. The first resistance target is at $3.750, with potential buy opportunities on pullbacks.

• Support: 80 THB / 2.340 USD
• Resistance: 160 THB / 3.750 USD

SpaceID (ID)

SpaceID (ID) gained 20.96% over the past week, though the broader trend remains bearish. Focus on short-term speculative trades until a clearer reversal signal appears—particularly if the price breaks above the $0.3160 resistance. If it fails, be cautious of the support at $0.1750. A drop below this level signals a need to cut losses.

• Support: 6 THB / 0.1750 USD
• Resistance: 10 THB / 0.3160 USD

Investment Trends

The U.S. inflation rate was announced at 2.8%, slightly lower than the expected 2.9%, providing some support for Bitcoin (BTC). All eyes are now on the U.S. Federal Open Market Committee (FOMC)  meeting on Wednesday, March 19, 2026, where the market expects the interest rate to remain at 4.5%.

However, investor focus will also be on the Federal Reserve Chairman’s statements regarding future monetary policy. Markets are currently pricing in two rate cuts later this year, starting in September. Should the Fed accelerate the timeline, it could positively impact Bitcoin prices.

Additionally, this week’s annual Nvidia event is one to watch. Any new product announcements boosting investor confidence could drive up Nasdaq and, in turn, provide support to the crypto market.

Historically, a 10% drop in the U.S. stock market typically leads to a recovery, which could spill over to lift Bitcoin as well. However, risks remain, such as potential import tax hikes proposed by Donald Trump and continued gold price rallies, which could divert investment away from Bitcoin.

Investment Strategy, focus on long-term investments in Bitcoin, Ethereum (ETH), and large-cap altcoins. Consider gradually accumulating positions without rushing. Avoid short-term speculation until a confirmed uptrend emerges.

References

• https://www.coindesk.com/markets/2025/03/15/gold-etfs-inflow-takes-over-bitcoin-etfs-amid-historic-rally 
• https://www.google.com/url?q=https://www.theblock.co/post/346491/us-bitcoin-etfs-erase-year-to-date-gains-as-cumulative-inflows-drop-to-lowest-value-since-january-2&sa=D&source=docs&ust=1742217920958578&usg=AOvVaw2g4KT-tVL9nqQFFhOoCBdP 
• https://cointelegraph.com/news/blackrock-holds-47-billion-bitcoin 
• https://cointelegraph.com/news/senator-cynthia-lummis-new-bitcoin-act-one-million-btc 
• http://cryptodnes.bg/en/deutsche-boerse-to-roll-out-crypto-custody-for-institutions-in-2025/ 
• https://cointelegraph.com/news/singapore-exchange-bitcoin-futures-second-half-2025 

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.