How Crypto is Changing Spending Habits: 70% of EU Payments Go to Food & Retail

Week of March 25-31, 2025

The U.S. Securities and Exchange Commission (SEC) has clarified that Bitcoin (BTC) and Litecoin (LTC) mining, as well as Proof of Work transactions, are not classified as securities-related activities. As a result, participants are not required to register these transactions with the SEC.

The U.S. Senate is set to vote on Paul Atkins’ nomination as the new SEC Chairman on March 27, 2025, following his initial nomination on December 4, 2024. He recently met with representatives from both political parties on March 21.

A survey conducted by Coinbase and EY-Parthenon found that institutional investors are increasingly optimistic about digital assets, with 83% planning to increase their investments this year. Beyond Bitcoin and Ethereum (ETH), Ripple (XRP) and Solana (SOL) are seen as having the highest growth potential.

Meanwhile, Standard Chartered has revised its 2025 price target for Ethereum from $10,000 down to $4,000, citing the rapid growth of Layer 2 solutions—particularly Coinbase’s Base—which has already captured over $50 billion in market value from Ethereum. However, the bank maintains its long-term price target of $7,500 for ETH by 2029-2030.

Bloomberg reports that Pakistan is preparing legislation aimed at attracting foreign investors to its cryptocurrency market. The country currently ranks ninth globally for crypto adoption.

A survey by Oobit found that 70% of crypto payments in Europe are spent on food and beverages, while another 26% go toward travel and tourism. Interestingly, 92% of all transactions were made using stablecoins like Tether (USDT).

Technical Analysis

Bitcoin (BTC) 

Bitcoin (BTC) has surged past its previous all-time high, crossing $86,000, signaling strong bullish momentum. The new support level is set at $80,000. If Bitcoin can break through the $91,000 trendline, it would confirm a trend reversal, with the next resistance target at $95,000.

• Support: 2,800,000 THB / 80,000 USD
• Resistance: 3,200,000 THB / 95,000 USD

Ethereum (ETH)

Ethereum (ETH) is showing signs of stabilization, but the broader trend remains bearish. The key support level to watch is $1,700. A break above $2,200 would strengthen the recovery, with the first target set at $2,550.

• Support: 60,000 THB / 1,700 USD
• Resistance: 84,000 THB / 2,550 USD

Peanut The Squirrel (PNUT)

Peanut The Squirrel (PNUT) gained 27.59% last week, signaling a potential trend reversal. The key resistance level to watch is $0.2620—a breakout above this could confirm a bullish trend. However, caution is needed at $0.1313, as a drop below this level may indicate further downside.

• Support: 4 THB / 0.1313 USD
• Resistance: 10 THB / 0.2620 USD

Bonk (BONK)

Bonk (BONK) posted a 19.99% return last week. A confirmed uptrend requires a break above $0.00001568. Ideal entry points are during pullbacks, as long as the price holds above $0.00000889. If this level fails, a stop-loss is recommended.

• Support: 0.00030 THB / 0.00000889 USD
• Resistance: 0.00060 THB / 0.00001568 USD

Investment Trends

The U.S. Federal Open Market Committee (FOMC) has held interest rates steady at 4.5%, but two key developments emerged from the Fed Chairman’s statement:

1. Temporary inflation pressure due to new import taxes. If inflation cools significantly, the Fed may cut interest rates twice in 2025.
2. Slower Quantitative Tightening (QT)—a move that injects more liquidity into financial markets, which came as a positive surprise.

The market also welcomed news that the International Monetary Fund (IMF) now recognizes digital assets in balance of payments accounting. Meanwhile, Spot Bitcoin ETFs saw their first net inflows in five weeks, and Donald Trump clarified his stance on targeted import tax policies, helping boost both the U.S. stock market and Bitcoin prices.

On Thursday, March 27, 2025, the U.S. Q4 GDP report will be released. Forecasts suggest a 2.3% growth rate, down from the previous 3.1% estimate. If the figure aligns with expectations, it could increase pressure on the Fed to cut rates sooner, potentially benefiting Bitcoin.

Investment Strategy

Look for buying opportunities during pullbacks in assets showing strong demand. While the market hasn’t fully recovered, Bitcoin’s momentum suggests the correction phase may be nearing its end.

References

• https://cryptoslate.com/sec-confirms-pow-crypto-mining-exempt-from-securities-law/ 
• https://cointelegraph.com/news/trumps-sec-chair-paul-atkins-senate-committee-hearing 
• https://cointelegraph.com/news/institutions-plan-increase-crypto-allocations-survey 
• https://www.theblock.co/post/346588/standard-chartered-cuts-ether-price-target-4000 
• https://cryptoslate.com/pakistan-forms-new-crypto-council-to-regulate-blockchain-and-digital-assets/
• https://cointelegraph.com/news/70-percent-eu-crypto-payments-retail-food-beverages-oobit  

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.