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Bitcoin Breaks Below $85k as Leverage Spikes: Is $80k Next?

Albert Brown
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Bitcoin Breaks Below $85k as Leverage Spikes: Is $80k Next?

Bitcoin has pulled back within a rising channel, signaling a potential retest of the $80k mark amid increasing leverage. Will the inflows into Bitcoin ETFs sustain the bullish momentum?

Bitcoin’s drop below the $85,000 mark indicates a gradual decline in bullish momentum. With this ongoing pullback, BTC is down by 2% over the past 24 hours.

Meanwhile, liquidations in the crypto market are approaching $200 million over the last 24 hours, with long liquidations accounting for $131 million. Will the resurgence of bearish sentiment push Bitcoin back below the $80,000 mark?

Bitcoin Potential Breakdown to $80k

On the 4-hour price chart, BTC’s price trend shows a rising channel pattern. After a short-term recovery, BTC is testing a long-standing resistance trendline.

However, Bitcoin is currently experiencing a short-term pullback within the rising channel, dipping below the $85,000 mark. Additionally, this pullback has failed to maintain dominance at the 23.60% Fibonacci level at $84,841.

At present, Bitcoin is trading at $84,135, forming its second-highest price rejection candle, signaling an extended pullback on the 4-hour chart. With increased bearish momentum, the MACD and signal lines have crossed negatively, potentially signaling a sell-off.

Bitcoin Price Chart
Bitcoin Price Chart

Bitcoin Futures Market Shows Shift in Whale Sentiment

Bitcoin’s open interest has decreased by 4.45%, reaching a low of $52.81 billion. The long-to-short ratio has also seen a subtle rise in bearish positions, now at 0.9861.

Bitcoin Derivatives Market
Bitcoin Derivatives Market

Despite this, the funding rate has continued to fluctuate over the past few weeks, occasionally dipping into negative territory. Currently, the open interest stands at 0.0051%, reflecting a bullish sentiment toward long positions despite paying the extra premium.

Alphractal, an advanced crypto platform, notes an increase in bearish positions within the Bitcoin market. According to a recent tweet, whales have shifted from locked positions to new open short contracts as Bitcoin surpassed $87k in the short term.

Furthermore, the open interest-to-market cap ratio has spiked again, signaling an increase in market leverage. With higher leverage, the market could face a new wave of volatility, potentially triggering mass liquidations.

 

Inflows Surge in Bitcoin ETFs, BlackRock Drives the Pack

Despite the increased volatility in the derivatives market, institutional support for Bitcoin is returning. On March 20, the total daily net inflows for U.S. spot Bitcoin ETFs reached $165.75 million.

BlackRock led the way, acquiring more Bitcoin with an inflow of $172.14 million. Following BlackRock, VanEck, Fidelity, and Grayscale Bitcoin Mini Trust recorded inflows of $11.90 million, $9.19 million, and $5.22 million, respectively.

However, Bitwise, Grayscale Bitcoin Trust, and Franklin Templeton’s Bitcoin ETFs saw outflows of $17.40 million, $7.98 million, and $7.31 million, respectively. The remaining ETFs had a net-zero flow.

As U.S. spot Bitcoin ETFs record their fifth consecutive day of inflows, institutional support is likely to spark a new Bitcoin price rally.

Bitcoin ETFs
Bitcoin ETFs

Will Bitcoin Sustain Recovery To Reach $95k?

Despite short-term volatility in the derivatives market, growing institutional support is expected to drive Bitcoin prices higher. According to the 4-hour price chart, the current recovery will likely retest the local support trendline near $83,000.

However, a breakdown below this support level could lead to a further correction to the $78,350 support level. On the other hand, a bullish rebound could challenge the long-standing resistance trendline.

Based on Fibonacci levels, a breakout rally could extend to the 61.80% Fibonacci level, around $95,350.

Here Are Key Points From Donald Trump’s Speech at Blockworks Digital Asset Summit

Lele Jima
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Here Are Key Points From Donald Trump’s Speech at Blockworks Digital Asset Summit

Donald Trump made history yesterday by becoming the first sitting president in the U.S. to speak at a crypto conference. 

Yesterday, the president gave a virtual speech at the Blockworks Digital Asset Summit, reaffirming his support for crypto and promising to make America the global leader of the emerging industry. 

Key Points from Trump’s Remarks 

Here are some of the key points he made during the speech. 

Positioning the US as Undisputed Bitcoin Superpower 

Trump reaffirmed his commitment to making the United States the undisputed Bitcoin superpower and crypto capital of the world. He believes the government can achieve this by creating sensible and clear regulations for the industry. 

Speaking on the disclosure, prominent Bitcoin evangelist and MicroStrategy Chairman Michael Saylor spotlighted Trump’s remarks on making the United States the ‘global undisputed Bitcoin superpower.’ 

Trump highlighted some initiatives his administration has made to elevate America to this leadership position, including hosting the first-ever White House Crypto Summit. 

U.S. Won’t Sell Crypto Reserve Assets 

Further, President Trump referenced his executive order that mandated the creation of a Strategic Bitcoin Reserve (SBR) and digital asset stockpile. While this reserve will hold only Bitcoin, the stockpile will feature altcoins. The funds for the reserve initiative will come from assets the U.S. government obtained through forfeitures. 

According to President Trump, the U.S. will hold the crypto assets in reserves without selling them. This is contrary to the Biden administration’s approach, which saw the government auction seized crypto assets on various occasions. 

Trump suggested that these early sales cost the U.S. a huge fortune as the Biden administration sold the assets cheaper than their long-term value. As previously reported, Crypto Czar David Sacks claimed that the country lost $17 billion from these sales. 

Ending Regulatory War Against Crypto 

Interestingly, Trump vowed to end the previous administration’s regulatory war on crypto, particularly the “Choke Point 2.0.” 

For context, Choke Point 2.0 is an alleged covert operation aimed at debanking the crypto industry and denying related companies and individuals access to financial services. 

Notably, Trump characterized this operation as a ‘disgrace,’ noting that it extended beyond regulation. He added that this illicit act ended on his first day in office.  

Passing Stablecoin Regulation 

Furthermore, Trump said he had urged the United States Congress to pass “clear and common-sense rules” for dollar-pegged stablecoins and market structure. 

Recall that a major stablecoin regulation, the GENIUS Act, recently made progress after the Banking Committee approved it. Following its approval, the bill has advanced to the full senate for potential passage. 

Notably, Trump said he called on Congress to pass the stablecoin bill. In his view, sensible stablecoin and crypto regulation will help maintain the U.S. dollar’s dominance and spur investments. 

Here’s Why SEC Yet To Issue official Statement Dismissing Ripple case

Lele Jima
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Here’s Why SEC Yet To Issue official Statement Dismissing Ripple case

Eleanor Terrett, host of the Crypto America podcast, explains why the SEC has yet to issue an official statement dismissing the Ripple appeal. 

With Ripple announcing that the SEC has dismissed its appeal, some XRP enthusiasts wonder why the commission has not issued an official statement reflecting this decision. As a result, these users took to X to question the rationale behind this delay. 

Why SEC Has Not Officially Announced Ripple Appeal Dismissal 

Responding, Terrett suggested that even though the SEC has agreed to dismiss the Ripple appeal, it must approve the decision internally before making any public statement. 

Once approved, Terrett noted that people should expect a press release similar to the one the SEC issued after dismissing the Coinbase lawsuit a few weeks ago. 

According to Terrett, the SEC usually handles litigation and enforcement matters during its closed-door meetings. While the agency usually holds these meetings on Thursdays, it did not schedule one for this week.

Notably, the pro-crypto journalist disclosed that the next SEC’s closed-door meeting is scheduled for next Thursday, March 27, 2025. During the meeting, she expects the SEC to address the Ripple appeal and subsequently issue a statement dismissing the case. 

While the SEC has yet to make a public statement about dismissing the Ripple appeal, the company confirmed the commission has dropped its appeal. 

Ripple Case Still Alive 

Despite this decision, the Ripple case is still alive as the company has yet to also drop its cross-appeal against the commission. 

This case relates to Ripple challenging a court decision on its past XRP sales to institutional clients. Notably, Judge Analisa Torres ordered a $125 million fine and a permanent injunction against Ripple for violating federal securities law.  

Ripple CEO Brad Garlinghouse suggested that the company is negotiating with the SEC to drop the fine and permanent injunction.

If this happens, or the SEC makes a better offer, Ripple might also dismiss its cross-appeal against the regulator, potentially ending the lawsuit that has lingered for over four years. 

Here’s Why XRP Price Has Not Skyrocketed Despite SEC Dropping Ripple Lawsuit

Sam Wisdom Raphael
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Here’s Why XRP Price Has Not Skyrocketed Despite SEC Dropping Ripple Lawsuit

Despite the major victory for Ripple in its long-standing legal battle with the U.S. SEC, XRP price has failed to surge to new heights.

For context, the SEC recently dropped its appeal against Ripple, a move expected to eliminate all legal baggage and potentially trigger a massive price rally for XRP. However, XRP only climbed to $2.60 before retreating to $2.43, leaving many investors puzzled.

On a recent episode of The Good Morning Crypto show, host Abdullah “Abs” Nassif addressed this sentiment, noting that many in the XRP community, including everyday investors, question why the price remains stagnant despite the bullish news. 

Nassif pointed out that some investors, like his friend’s grandfather, are constantly monitoring XRP-related updates, expecting a major price movement that has yet to materialize.

The Market Priced in the Outcome Early

In response, Johnny Krypto, co-founder of Merlin, explained that the lack of a substantial price spike was expected. He argued that markets often price in expectations well in advance, meaning the XRP rally that took the price from $0.50 to $2.50 last November was a response to speculation that the case would eventually come to a favorable end.

“When Trump won, there was no logical reason for XRP’s price to jump, but the market was pricing in that the lawsuit would be dropped,” Johnny noted. “That’s why we saw the big pump back then.”

He added that if the SEC had maintained the appeal, XRP’s price would have likely plummeted instead of staying stable. Since traders had already positioned themselves based on this expectation months ago, there was little room for additional upside when the news became official.

What’s Next for XRP?

Now that Ripple is no longer weighed down by the legal battle, the question becomes: what will drive XRP’s next price rally? 

Nassif and his guests stressed that the lawsuit’s resolution is important, but it does not guarantee immediate price gains. The next phase for Ripple and XRP will depend on adoption, real-world use cases, and institutional investments.

Johnny pointed out that for XRP to climb higher, there must be new demand. “We need big contracts, institutional adoption, and fresh capital coming in,” he said. “Now the monkey is off their back, and they have to prove the real value of XRP.”

Notably, some factors that could fuel XRP’s next rally include tokenization, cross-border payments, and central bank digital currency (CBDC) initiatives. These developments will likely help in shaping XRP’s long-term price trajectory.

A New Base for XRP?

Interestingly, analyst Mario shared similar views, noting that XRP is now trading at a new, higher base. He explained that the token witnessed suppression under $1 for an extended period due to the lawsuit but has since stabilized around the $2 mark.

“We were severely dragged down for the longest time. Now that XRP is unleashed, we’re sitting at that $2 range, which is a good new base,” Mario said. However, he stressed that utility and institutional adoption will be important in pushing XRP toward higher price levels.

He also highlighted that Ripple’s ongoing developments in stablecoins, tokenization, and payments will be important in driving long-term growth. Institutions can now enter the XRP market without fear of regulatory backlash, which could open the door for significant capital inflows.

Despite the short-term price stagnation, analysts on the show remained optimistic about XRP’s future. Johnny suggested that in a bullish market, XRP could reach price targets of $4 to $8, and in the event of a “super cycle,” it could go even higher. 

However, he cautioned that XRP’s next major move would likely be driven by new developments rather than regulatory news.

Essentially, while the lawsuit’s resolution is a major milestone, the real battle for XRP’s value rests on mainstream adoption. According to Mario, investors looking for massive gains must be patient and watch how Ripple executes its long-term vision in the coming months.

Here Is the Number of Dogecoin Millionaires Holding DOGE Worth More Than $1 Million

Sam Wisdom Raphael
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Here Is the Number of Dogecoin Millionaires Holding DOGE Worth More Than $1 Million

The number of Dogecoin millionaires has dropped drastically over the past few months due to a steady decline in DOGE price.

This is according to on-chain data provided by blockchain analytics resource Bitinfocharts. Notably, the decline in Dogecoin millionaires has been as a result of the drop in prices on the back of a broader crypto market downturn, rather than selloffs from these holders.

Dogecoin has been one of the biggest victims of the market-wide collapse due to its higher volatility as a meme coin. For context, DOGE has crashed 45.24% year-to-date, with a discouraging 14.33% this month alone, as it collapsed to the $0.17 range. This follows a more substantial 38.63% drop in February, the largest monthly loss since April 2024.

Dogecoin Millionaires at Current Price

Amid the price decline, for a Dogecoin whale to hold up to $1 million worth of the asset at the $0.17 price level, the address must possess at least 5.8 million tokens. 

Bitinfocharts data indicates that Dogecoin addresses holding $1.7 million and above at the current price have dropped to around 867. Of this figure, those holding between 10 million DOGE ($1.7 million) and 100 million DOGE ($17 million) account for the highest number, totaling 755.

Dogecoin Holdings Distribution Bitinfocharts
Dogecoin Holdings Distribution | Bitinfocharts

Meanwhile, addresses with balances between 100 million and 1 billion DOGE worth $17 million to $170 million amount to 97. Those who hold between 1 billion DOGE ($170 million) and 10 billion DOGE ($1.7 billion) total 14. Interestingly, only 1 address holds 10 billion to 100 billion DOGE.

However, this assessment does not account for the tier of addresses holding between 1 million to 10 million DOGE tokens, which amount to a whopping 4,223. Notably, some addresses in their tier, holding at least 5.8 million tokens, are actually millionaires. 

A Whale Accumulation Campaign

It bears mentioning that the addresses in these tiers have actually increased over the past year as a result of an accumulation campaign among whales. For instance, those holding between 1 million and 10 million totaled 4,065 in March 2024. 

In addition, addresses with 10 million to 100 million tokens amounted to 529 a year ago, indicating that they increased by 226 over the past year. This is largely due to what appears to be a “buy-the-dip” campaign among seasoned market participants.

In fact, data suggests that Dogecoin whales have instead been increasing their holdings amid the ongoing market turbulence. Analyst Ali Martinez confirmed that whales procured 1.7 billion DOGE within 72 hours by March 9. Whales also added 1.4 billion DOGE on March 10.

Here’s When Dogecoin Can Reach $10 with a 10% Monthly Growth

Abdulkarim Abdulwahab
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Here’s When Dogecoin Can Reach $10 with a 10% Monthly Growth

Dogecoin could reach the double-digit price range in a few years if it maintains a steady 10% growth each month.

Dogecoin has been struggling recently, with consistent price declines that have also affected other meme coins. Currently, Dogecoin is up 1.63%, trading at $0.1717. However, the meme coin continues to trade more than 50% below the higher levels it reached eight weeks ago.

Despite this recent underperformance, many market analysts remain bullish on Dogecoin. They believe Dogecoin could still break the $1 mark this year and potentially rally beyond the $10 range in a more explosive bull run.

Given the current low sentiment and doubt surrounding Dogecoin’s potential, The Crypto Basic examines how long the meme coin could take to reach $10 with a modest 10% monthly gain.

When Dogecoin Can Reach $10 with 10% Monthly Growth

To estimate Dogecoin’s price after a 10% increase, we multiply its current value of $0.1717 by 1.1. This means the coin could be worth $0.18887 by April. Another 10% gain from here would elevate the price to the psychological range of $0.2078.

If Dogecoin maintains this 10% monthly growth, it would likely stay around the $0.20 region for the next few months. By the sixth month (August 2025), the price would reach $0.3042, assuming the growth remains consistent.

A year from now, the price of Dogecoin could be around $0.5389. However, to expedite the calculation of how long it would take Dogecoin to reach $10 with a consistent 10% monthly growth, The Crypto Basic used exponential growth analysis via OpenAI’s ChatGPT.

The formula below demonstrates how the timeline for DOGE to reach $10 is calculated using a 10% monthly growth rate. 

Dogecoin price prediction via ChatGPT
Dogecoin price prediction via ChatGPT

After applying exponential growth calculations, the AI determined that it would take approximately 43 months for Dogecoin to reach $10 with a steady 10% monthly increase. This equates to around 3.6 years, or by October 2028, for DOGE to hit the $10 mark.

Expert Projections for Dogecoin by 2028

This timeline closely aligns with the estimate from the prediction platform Telegaon, which suggests Dogecoin could reach a maximum of $9.12 by 2028. However, Changelly’s forecast is more conservative, predicting Dogecoin could only be worth $0.465 by October 2028.

Europe Must Adopt Digital Euro to Counter Stablecoin Threats and US Payment Dominance, Says ECB Chief Economist

Abdulkarim Abdulwahab
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Europe Must Adopt Digital Euro to Counter Stablecoin Threats and US Payment Dominance, Says ECB Chief Economist

European Central Bank (ECB) Chief Economist Philip Lane has reiterated the need for a digital euro to ensure Europe’s monetary sovereignty in an increasingly fragmented geopolitical landscape. 

Lane shared this perspective in a keynote speech at the University College Cork Economics Society Conference in Ireland.

He highlighted the growing risks of foreign-controlled payment systems and stablecoins, warning that they could undermine the euro’s role in domestic and cross-border transactions.

Lane argued that the digital euro is essential for Europe’s financial autonomy in an increasingly fragmented geopolitical environment.

“A digital euro is not just about making sure our monetary system adapts to the digital age,” Lane stated. “It is about ensuring that Europe controls its monetary and financial destiny against increasing geopolitical fragmentation.”

Notably, the European Commission has proposed draft legislation for the digital euro. It is under review by the European Council and the European Parliament. 

Meanwhile, Lane warned that delays in launching a central bank digital currency (CBDC) could expose Europe to risks as foreign stablecoins and non-European payment firms expand their influence.

Reliance on US Payment Firms

One of the key issues Lane addressed was Europe’s dependence on US-based payment giants. These include Visa, Mastercard, Apple Pay, Google Pay, and PayPal. 

According to ECB data, these firms process 65% of euro area card payments. Some EU countries have even entirely replaced national payment schemes with international alternatives.

This reliance gives foreign firms control over critical financial infrastructure. In addition, it increases Europe’s vulnerability to economic pressure and potential service disruptions. 

Lane emphasized that Europe “effectively outsources its payment infrastructure” by depending on international cards, apps, and stablecoins. This makes the region susceptible to policy changes and regulatory actions from outside jurisdictions.

Stablecoins and Geopolitical Tensions Drive Need for Digital Euro

The rapid growth of stablecoins, where the US Dollar backs 99%, poses another challenge to Europe’s financial independence. Concerns are mounting that these digital assets could erode the euro’s influence in daily transactions and financial markets.

Additionally, Lane pointed to global trends such as China’s digital yuan, the BRICS nations’ CBDC initiatives, and projects like mBridge as signs that other major economies are strengthening their monetary sovereignty. He argued that Europe risks falling behind in the transition toward digital finance without a digital euro.

Ensuring Europe’s Financial Future with a Digital Euro

The ECB believes introducing a digital euro would provide a secure, universally accepted payment solution under European governance, reducing the region’s dependence on foreign payment providers. 

Lane emphasized that a CBDC would help prevent foreign-currency stablecoins from gaining a significant foothold in Europe’s financial system. This would mitigate risks to banking stability and credit markets.

Bitcoin Open Interest Has Dropped 35% to $37B Since ATH: What This Means for Price

Sam Wisdom Raphael
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Bitcoin Open Interest Has Dropped 35% to $37B Since ATH: What This Means for Price

Bitcoin Open Interest in the futures market has slumped 35% since the asset’s all-time high, as downward pressure persists.

For context, Bitcoin has faced challenges reclaiming the $90,000 psychological level, remaining stuck below it for nearly two weeks. Despite reaching an all-time high (ATH) above $109,000 in January, the asset has struggled to maintain upward momentum. 

Instead, bearish pressure has intensified, fueling discussions over whether the current bull market has ended or if a new rally could push BTC to fresh highs. Amid this uncertainty, recent data from Glassnode reveals major shifts in market conditions.

One notable development is a sharp decline in Bitcoin open interest, which has fallen from $57 billion at Bitcoin’s ATH to $37 billion, representing a staggering 35% drop. This decline suggests a massive drop in speculative trading and hedging activity.

Bitcoin Open Interest Glassnode
Bitcoin Open Interest | Glassnode

What the Decline in Bitcoin Open Interest Means for BTC

Bitcoin open interest represents the total value of outstanding derivative contracts. A decline of this magnitude indicates traders are either closing positions due to market uncertainty or shifting away from leveraged trading. 

Glassnode noted that this crash mirrors a broader trend of decreasing on-chain liquidity, pointing to a risk-off sentiment among investors.

Additionally, an unwinding of the cash-and-carry trade, where traders profit from the price difference between spot and futures markets, suggests a weakening long-side bias. 

This development, combined with ETF outflows and CME futures closures, adds downward pressure on Bitcoin’s spot price. The lower liquidity of ETFs compared to futures also means that short-term volatility could increase.

Other Key On-Chain Metrics

In addition to Bitcoin Open Interest, Glassnode highlighted another important development around the Hot Supply metric. 

This metric tracks BTC holdings aged one week or less and has fallen from 5.9% of circulating supply to just 2.8%, marking a drop of over 50% in the past three months. This decline signals that fewer newly acquired coins are being traded, reducing the supply of liquid Bitcoin.

Bitcoin Hot Supply Glassnode
Bitcoin Hot Supply | Glassnode

Further, exchange inflows also sync with this trend, falling from 58,600 BTC per day to 26,900 BTC, a 54% decrease. Notably, while lower inflows indicate reduced sell-side pressure, they also suggest weaker demand, as fewer coins are moving to exchanges for trading.

Bitcoin Exchange Inflow Glassnode
Bitcoin Exchange Inflow | Glassnode

Bitcoin’s Current Position

Currently, Bitcoin is trading at $86,225, attempting to maintain stability above the $85,000 support level. A market commentator known as “Unknown Trader” pointed out today that Bitcoin closed above $85,000, an important level necessary to sustain upward momentum. 

He also stressed that the price closed above the daily 200-day moving average, which historically signals bullish conditions. 

Currently, Bitcoin is retesting the $85,000 level. If it holds, the trader expects an upward move toward the $90,500–$92,441 resistance area. However, he warns that once BTC reaches this level, a rejection and a subsequent retest of the $85,000 area could occur.

Meanwhile, CryptoQuant analyst Woominkyu pointed to a potential accumulation phase among U.S. institutional investors. 

He highlighted that the 30-day EMA of the Coinbase Premium Index is attempting to cross above the 100-day EMA. Notably, similar crossovers in the past have preceded price surges, suggesting that whales and institutional players may be increasing their holdings.

Bitcoin Coinbase Premium Index CryptoQuant
Bitcoin Coinbase Premium Index | CryptoQuant

Woominkyu explained that a rising Coinbase Premium Index correlates with stronger institutional buying pressure. If this trend continues, Bitcoin’s price could see further upside, extending the ongoing bull market rather than marking its end.

Donald Trump Media Execs Launch SPAC to Raise $179M for Crypto-Related Acquisitions

Lele Jima
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Donald Trump Media Execs Launch SPAC to Raise $179M for Crypto-Related Acquisitions

Three senior officials from Trump Media & Technology Group (TMTG) have filed with the SEC to raise $179 million for a new crypto-focused SPAC. 

Dubbed Renatus Tactical Acquisition Corp I, the blank-check SPAC was created to target U.S.-based businesses with high growth potential.

According to the filing, Renatus will target businesses in three industries: blockchain and cryptocurrency, dual-use technologies, and data security.

Renatus Seeks to Raise $179M 

As part of its fundraising effort, the company filed with the SEC to raise $178.9 million through a private placement and IPO.

Specifically, it plans to offer 17.5 million public shares, with each sold at $10. Similarly, the SPAC will issue approximately 3.95 million warrants through a private placement at $1 each.

The funds raised through these offers will be used to acquire or merge with other businesses related to crypto, data security, and dual-use technologies. Besides businesses in these sectors, Renatus plans to pursue interests in other key areas as well. 

TMTG Ties 

Renatus has strong ties to TMTG, a media company co-founded by U.S. President Donald Trump in 2021. It operates the Truth Social media platform, which Trump has utilized to make special announcements since his inauguration. 

According to the filing, Renatus’ leaders are strongly affiliated with TMTG. For instance, Devin Nunes, the CEO of TMTG, would serve as the chairman of the SPAC board. The SPAC’s CEO, Eric Swider, is a board member of TMTG, while COO Alexander Canoo previously held a leadership position at Trump’s media company. 

Renatus expressed concerns that some third parties may decline to engage with it due to its affiliation with TMTG and President Trump.

Trump Pro-Crypto Initiatives 

Meanwhile, the development comes as the Trump administration seeks to introduce pro-crypto regulations to position the United States as the industry’s global leader. Since his inauguration, Trump has made major moves to make the U.S. the crypto capital of the world. 

This includes creating a presidential working group to develop a crypto regulatory framework at the federal level, appointing several pro-crypto advocates to key positions like the SEC Chair, and establishing a strategic Bitcoin reserve and digital asset stockpile. 

In the filing, Renatus mentioned the federal government’s effort to integrate digital assets into the country’s financial strategy.

Michael Saylor Says EU Will Need Bitcoin Amid Euro Crash

Elendu Benedict
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Michael Saylor Says EU Will Need Bitcoin Amid Euro Crash

Bitcoin evangelist Michael Saylor has fronted the need for the European Union to take the orange pill amid recent currency downside.

Since yesterday, the Euro (EUR) has lost its cool against the United States dollar (USD) amid a dovish report from the Federal Reserve System (Fed). Notably, EUR has retraced from a high of 1.0945 on Wednesday to its current price valuation of 1.08255 against the US dollar.

Meanwhile, the correction has drawn the attention of Bitcoin evangelist Michael Saylor, who insinuated that Bitcoin could help. In a tweet today, the Strategy executive chairman appeared to be urging the European Union (EU) to fast-track any effort to purchase Bitcoin.

EUR Gonna Need BTC

The Fed maintained interest rates again on Wednesday, keeping them between 4.25% and 4.50%. While the funding rates have remained unchanged since December, Chair Jerome Powell hinted at a 50-basis-point cut before the end of 2025.

Moreover, US President Donald Trump is pressuring the Central Bank to cut rates. He insisted that the Fed was better off cutting rates, arguing it was the right thing to do.

The dovish sentiments saw the US stocks and bonds rally, with the USD strengthening against other currencies. While the dollar gained momentum, Bitcoin has covered more ground against the most heavily traded currency in the world.

For perspective, the pioneering cryptocurrency is up 3% in the past 24 hours against the US dollar, trading at $85,391 at the time of writing. As a result, Saylor insinuated that the orange pill would have hedged the Euro correction as a reserve asset.

It bears mentioning that the Bitcoin maxi painted a similar picture yesterday, but with the US dollar against the Turkish Lira (TRY). The chart showed that the USD has outperformed the TRY since 2021, extensively devaluating the currency. However, BTC has been one of the best-performing high-caliber assets in the world in that same timeframe.

USD/TRY Chart

The European Union’s Bitcoin Venture

Sarah Knafo, a European Parliament member, recently urged the EU to establish a strategic Bitcoin reserve, calling attention to the success of El Salvador. For perspective, through President Nayib Bukele’s Bitcoin adoption and forward-thinking innovations, the Central American country has transformed its economy.

The French lawmaker also urged the EU to leverage the decentralized, freedom-affirming Bitcoin to hedge against escalating global inflation. She cited growing interest in the asset and argued that a reserve of the leading cryptocurrency was better than the proposed digital euro.

While the EU has not acted upon the proposal, the region has created a thriving environment for digital assets to thrive. It recently implemented the Markets in Crypto Assets (MiCA) framework, providing robust protection for European investors while encouraging Bitcoin and crypto adoption.

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