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Bitcoin Outlook Turns Even More Bullish as US Bank Credit Supply Rises: Arthur Hayes

Okoya David
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Bitcoin Outlook Turns Even More Bullish as US Bank Credit Supply Rises: Arthur Hayes

U.S. bank credit supply may be rising in a likely boon for risk assets like Bitcoin, according to industry pundit Arthur Hayes.

Is the Bitcoin bull market over, or have rumors of its death been greatly exaggerated? This has become an increasingly tricky question, as the asset’s recent price action and on-chain metrics have split analysts.

One analyst in the latter camp now suggests he has further evidence that, contrary to the views of skeptics, things are about to get exciting for the leading digital asset.

In a tweet today, BitMEX founder Arthur Hayes suggested that U.S. bank credit supply may be on the rise, which could benefit risk assets like Bitcoin. Specifically, Hayes claimed that his custom U.S. bank credit supply index was moving higher, calling it “another good sign for BTC.”

This sentiment is based on the idea that a rise in credit supply means more credit available for borrowers, injecting liquidity into risk markets. However, Hayes cautioned that this doesn’t necessarily signal an immediate end to price weakness but increases the odds of a bullish turnaround.

Arthur Hayes custom US bank credit supply index
Arthur Hayes custom US bank credit supply index. Source: Arthur Hayes

Bitcoin Already Bottomed?

Earlier in the day, Hayes had suggested that Bitcoin had likely hit its bottom when it fell to $77,000 earlier in March. He made this argument by claiming that quantitative tightening was effectively going to end on April 1.

This follows Wednesday, March 19, statements from Federal Reserve Chair Jerome Powell that the central bank would slow down the shrinking of its balance sheet starting April 1.

According to Hayes, however, the real bullish cue will be either the Federal Reserve’s implementation of a Supplementary Leverage Ratio (SLR) exemption or the kicking off of quantitative easing.

SLR is a capital requirement imposed on banks to ensure they have a minimum amount of capital relative to their total leverage exposure. The Fed exempted banks from this requirement during the COVID-19 pandemic to encourage lending, bolstering economic activity and market liquidity.

In a recent interview, Hayes asserted that he expected Bitcoin to rally to $250,000 by year-end.

Analyst Eyes Dogecoin Surge to $0.6, Highlights Strong Weekly Support

Okoya David
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Analyst Eyes Dogecoin Surge to $0.6, Highlights Strong Weekly Support

Dogecoin (DOGE) may be on the verge of a massive rebound, according to a notable market watcher.

On Wednesday, March 19, TradingView Idea crypto analyst “Whalesdesk” asserted that Dogecoin looked bullish. He cited a strong support zone between $0.16 and $0.17 and a pennant formation on the weekly candlestick chart aligning with this support.

Dogecoin trading in pennant near weekly support
Dogecoin trading in pennant near weekly support. Source: Whalesdesk

Whalesdesk noted that if DOGE held the support and broke out of the pennant to the upside, it could kick off a rally to $0.30, $0.45, and eventually $0.60.

These targets represent an upside potential of 75%, 160%, and 250%, respectively, for the meme coin currently trading at $0.1715.

Meanwhile, Whalesdesk was not the only technical analyst to call a Dogecoin rally on Wednesday. Similarly, well-followed market analyst “MMBTrader” suggested that the meme coin could kick off a rebound soon.

Unlike Whalesdesk, however, MMBTrader believes DOGE could go lower first, citing daily support levels around $0.13834 and $0.09081. They also warned that the meme coin would likely face resistance at key psychological levels like $0.30 and $0.40.

Dogecoin trading above two daily support levels
Dogecoin trading above two daily support levels. MMBTrading

Dogecoin Whale and Network Activity Rising

The recent Dogecoin analyses come as the network is seeing an uptick in several on-chain signals.

For one, Dogecoin whales have been on a buying spree in recent weeks. Purchases include 110 million DOGE worth about $18.5 million, 1.4 billion DOGE worth approximately $224 million, and $1.7 billion worth roughly $300 million.

At the same time, Dogecoin has seen an overall uptick in network activity. Specifically, active addresses on the network have jumped 76% from about 160,000 last week to over 280,000 this week.

The rise in whale buying and network activity signals growing accumulation and a surge in interest in the network, all of which can be bullish for price.

Shiba Inu Breaks from Multi-Month Channel: Analyst Predicts 154% Rally to $0.0000328

Elendu Benedict
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Shiba Inu Breaks from Multi-Month Channel: Analyst Predicts 154% Rally to $0.0000328

Shiba Inu has shown bullish prospects, with analysis highlighting an uptrend continuation to retest its December price highs.

The prominent meme coin has rebounded 19% from its intra-month low of $0.00001082, suggesting strong bullish momentum. TradingView analyst Asadrizvi identified the zone as strong support and the lower boundary of its multi-month descending price channel.

The channel, which has been forming since Shiba Inu’s December high of $0.00003343, has contained the token’s price. SHIB has trended downwards in lower highs and lower lows, with its price action getting tighter within the wedge.

Interestingly, SHIB broke from the channel following the 19% rebound, and the analyst has shared possible resistance levels ahead.

More Upsides for Shiba Inu?

Per the TradingView analysis, SHIB’s break from the channel could spur more price upsides. Asadrizvi suggested that the first target in the asset’s path to higher prices is a surge to $0.000015, followed by a push to $0.000020.

However, the commentary highlighted that the path to $0.000020 is packed with resistances, specifically from exponential moving averages. The 200 EMA, 100 EMA, and 50 EMA trends above prices, acting as potential supply walls. Meanwhile, the analysis stated a break above these indicators would signal a bullish reversal, driving prices higher.

Shiba Inu Analysis Asadrizvi
Shiba Inu Analysis | Asadrizvi

Ultimately, the market watcher predicted a 154% rally to $0.0000328, an area he labeled a “weak high.” The price level is near SHIB’s December high of $0.0003343, a notable resistance level that impeded further upsides during the meme coin’s bullish rally last year.

Correlating Bullish Prediction

Prominent analyst MMB Trader also shares a bullish stance on Shiba Inu, the second-largest meme coin by market cap. In an analysis yesterday, the commentator predicted a substantial upward price reaction as SHIB approaches the major daily support between $0.0000050 and $0.000010.

While the meme coin has reacted from the area, his TradingView commentary suggested a continued upside to $0.00002562. Meanwhile, the market analyst noted that Shiba Inu might be range-bound for one or two months before breaking out to higher prices.

An accompanying chart shows that SHIB could surge to a high of $0.00003514 following the breakout. Notably, the price mark lies 171% away from the asset’s current price of $0.00001297.

Shiba Inu Analysis MMBTrader
Shiba Inu Analysis/MMBTrader

Moreover, bullish network activities such as increased token burns and whale accumulations could further catalyze the predicted surge. A recent report shows that long-term holders have increased their Shiba Inu stash to an all-time high of 786.24 trillion SHIB, showing confidence in the asset’s potential despite its recent decline.

Bitnomial Launches US First-Ever XRP Futures After Dropping Lawsuit Against SEC

Elendu Benedict
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Bitnomial Launches US First-Ever XRP Futures After Dropping Lawsuit Against SEC

Chicago-based crypto exchange Bitnomial will debut the first-ever XRP futures trading in the United States today after dropping its lawsuit against the SEC.

Things are aligning thick and fast for the XRP ecosystem. A few hours after Ripple’s CEO announced that the US Securities and Exchange Commission (SEC) would no longer pursue litigation against the firm, a prominent exchange has announced it would launch the first-ever XRP futures product in the US.

On Wednesday, Bitnomial announced the futures contract will launch on its exchange today, allowing users to leverage-trade the asset. The trading platform announced that the Commodity Futures Trading Commission (CFTC) would regulate the XRP product, a breakthrough in the asset’s classification.

Bitnomial Voluntarily Drops SEC Lawsuit with Launch

The launch marks a major milestone for XRP in the United States, as the SEC has taken a friendlier regulatory stance. 

The trading platform disclosed that the futures contract would be physically settled, meaning it would deliver actual XRP to contract holders instead of a cash settlement upon expiration. A futures contract offers users a legal agreement to buy or sell an underlying asset at a predetermined price on a future date.

Notably, Bitnomial filed for the contract with the CFTC in August but faced a roadblock from the US SEC. The regulatory agency mandated the exchange to register as a securities platform, insisting that XRP was a security.

This prompted an October lawsuit from Bitnomial for regulatory overreach. Following today’s XRP futures contract launch, the Chicago-based exchange announced it has voluntarily dropped the legal proceeding against the SEC.

A Win for XRP

Meanwhile, the Bitnomial announcement came after the legal battle between Ripple and the SEC finally ended. CEO Brad Garlinghouse announced the resounding victory yesterday, insisting it was overdue.

Judge Analisa Torres ruled on the case on August 7, granting both the US SEC and Ripple partial victories. The judgment noted that XRP sales to retailers did not constitute an unregistered security, but an offering to institutional investors does.

Meanwhile, the SEC appealed the ruling in January, adding mileage to the already lengthy litigation. After a unanimous agreement, Garlinghouse announced that the regulator would drop its appeal efforts.

The case’s end has paved the way for broader adoption of XRP, as evident in Bitnomial’s XRP futures contract announcement a few hours later. Market watchers predict the clarity would not only push the asset’s prices but catalyze the approvals of investment instruments such as the XRP spot exchange-traded fund.

At the time of writing, XRP trades at $2.55, up nearly 12% in the past 24 hours.

Trump To Make Major Crypto Policy Announcement in Digital Asset Summit Address

Okoya David
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Trump To Make Major Crypto Policy Announcement in Digital Asset Summit Address

President Donald Trump is set to make a major crypto policy announcement, according to reports from Crypto in America host Eleanor Terrett.

Specifically, Trump is expected to disclose his U.S. crypto policy next steps in an address at Blockworks‘ Digital Asset Summit in New York.

What to Expect from Trump Crypto Speech

On Wednesday, Blockworks confirmed that Trump would address summit attendees via a recorded message at 10:40 a.m. ET on Thursday, March 20. This will make him the first sitting U.S. president to address a crypto conference.

However, the specifics of the president’s planned address remain sparse. 

Since becoming president, Trump has repeatedly asserted that he wants the U.S. to be the leader in crypto. To this end, he has already signed two crypto executive orders. One established a crypto working group to get the ball rolling on regulations, and another to establish a strategic Bitcoin reserve and digital asset stockpile. 

Meanwhile, recent reports suggest that the president may be considering yet another executive order. This time, the order will address so-called crypto de-banking, which refers to hurdles the crypto industry has faced accessing banking services.

Trump’s Digital Asset Summit address follows the appearance of Bo Hines, the Executive Director of the White House’s President’s Council of Advisers on Digital Assets, at the event. 

At the event on Tuesday, March 18, Hines reaffirmed the Trump administration’s desire to amass Bitcoin for its recently announced reserve, stating that the government wanted as much Bitcoin as it could get.

While Trump is set to become the first sitting president to address a crypto conference, it is not his first time addressing one. In July 2024, he spoke at the 2024 Bitcoin conference while on the campaign trail. It was at this conference that he first disclosed his Bitcoin reserve plans.

Can Solana Breakout Rally Hit $200 Amid ETF Hype?

Albert Brown
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Can Solana Breakout Rally Hit $200 Amid ETF Hype?

Solana price trend signals sharp recovery chances to $200 with a breakout rally amid SOL Futures ETFs hype.

With Bitcoin at the $86,000 mark, Solana has reclaimed the $130 level. Amid the bullish recovery, Solana has recorded a 6% surge over the past 24 hours.

With newfound momentum, the SOL price action hints at a potential breakout rally. Will this surge push SOL prices to the $200 mark? Let’s find out.

Solana Price To Break Long-Standing Resistance Trendline

In the 4-hour price chart, the overall Solana trend reflects a bearish influence. However, the recent comeback from the $112 swing low is projecting a high chance of a breakout rally. 

Solana Price Chart
Solana Price Chart

The prevailing downfall has created a bearish expanding channel starting from mid-January. However, the recent bullish recovery in Solana is challenging the overhead trendline close to the $135 mark. 

With a streak of bullish candles, the ongoing struggle close to the resistance trend line signals a high breakout potential. Furthermore, with the recent recovery, the MACD and signal lines have re-entered positive territory after the recent crossover.

This results in a new wave of bullish histograms hinting at supporting the chances of a bullish breakout. Hence, the momentum indicator signals a potential extended rally in the SOL price trend. 

Will Breakout Rally in SOL Price Hit $200?

Based on horizontal levels, the bullish breakout will likely challenge the previous resistance at $188. These levels extend the price targets to $222 and $267.

However, based on the pivot levels, the short-term target is the $150 psychological mark, which coincides with the R2 resistance pivot level.

On the downside, the crucial support level for Solana remains around the $117 mark, followed by the $100 psychological level, which aligns with the S2 pivot support level.

Solana Futures ETFs to Enter Wall Street

Adding to the bullish sentiment around Solana, Volatility Shares LLC moves to launch two Solana ETFs to track Solana futures. These first-of-their-kind ETFs will track Solana futures with expense ratios of 0.95% and 1.85%.

BlackRock Highlights Bitcoin Unique Qualities, Calls It An ‘Emerging Global Monetary Alternative’

Lele Jima
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BlackRock Highlights Bitcoin Unique Qualities, Calls It An ‘Emerging Global Monetary Alternative’

BlackRock educates its clients about crypto assets, highlighting Bitcoin’s unique role and significance in global payments. 

In a new question-and-answer video series dubbed, iShares’ The Ask, Anna Nerys, a product analyst, discussed the different types of digital assets. 

Digital Assets Explained 

First, she defined digital assets as anything in the digital realm that has monetary value. Nerys also highlighted the different types of digital assets, such as data, intellectual property, and cryptos. 

Notably, she recognized Bitcoin as the world’s largest cryptocurrency by market cap, characterizing the coin as an ‘emerging global monetary alternative.’ 

This indicates that the world’s largest asset manager considers Bitcoin a potential alternative to traditional fiat currencies. It implies that Bitcoin could serve as a digital form of money that can be utilized for global payments. 

Why Bitcoin Is a Suitable Monetary Alternative 

Furthermore, Anna highlighted some features of Bitcoin, justifying her views about Bitcoin being an emerging global monetary alternative. 

These features include Bitcoin’s ability to facilitate near-instant transactions at a lower cost, potentially making it ideal for cross-border settlements. The iShares product analyst emphasized that Bitcoin can function without relying on third parties like banks or governments.

Her commentary positions Bitcoin as not just any other digital asset but one that can redefine the global financial space by functioning as a monetary alternative. 

BlackRock Ties with Bitcoin 

It bears mentioning that BlackRock is no stranger to Bitcoin. The asset manager offers a spot-based exchange-traded fund (ETF) tied to the cryptocurrency, dubbed the iShares Bitcoin Trust (IBIT). 

The fund, which emerged as the fastest-growing ETF last year, has an AUM of nearly $40 billion. The remarkable surge in IBIT’s AUM reflects institutional investors’ growing interest in Bitcoin. 

Interestingly, Robbie Mitchnick, Head of Digital Assets at BlackRock, speculated that the price of BTC could soon rise to match this growing institutional adoption.  

Bitcoin trades at $86,237 per coin, up 3.25% over the past 24 hours. The asset has also soared 4.1% in the past seven days, with a daily volume of $37.16 billion. 

Binance BNB Eyes $700: Why Bullish Breakout Expected Soon

Albert Brown
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Binance BNB Eyes $700: Why Bullish Breakout Expected Soon

Binance Coin (BNB) price nears an inverse head and shoulder pattern with bullish potential rising to $700.

With a bullish comeback in the crypto market, Binance Coin aims for a breakout rally. Currently, it is trading at $626 with a market cap of $89.30 billion.

With a 24-hour price surge of 1.54%, the fifth-biggest cryptocurrency is aiming to surpass the $640 supply zone. Will this drive the Binance coin price above the $700 mark?

Binance Coin Price Nears Bullish Pattern Breakout

In the 4-hour price chart, as mentioned in our previous analysis, Binance Coin has marked a trendline breakout rally. However, the breakout failed to surpass the $640 supply zone near the 61.80% Fibonacci level.

Binance Coin Price Chart
Binance Coin Price Chart

This resulted in the breakdown of the 50% level at $617, with BNB registering a 24-hour low at $605. However, with the broader market recovery, the price is back in action with four consecutive bullish candles.

Marking a sharp V-shaped reversal, the price action signals a bullish pattern. A short-term recovery hints at a potential breakout rally for an extended bull run.

Supporting the upside chances, the MACD and signal lines are on the verge of giving a positive crossover.

Furthermore, the stochastic RSI lines bounce back from the oversold region, marking a new positive cycle. Hence, the technical indicators and the price action analysis hint at a potential breakout rally in Binance Coin.

Community Votes to Decide Next Listing on Binance Exchange

Amid the improving market sentiments, the recent announcement from Binance has led to a new bullish wave. The largest centralized crypto exchange has launched its first-ever Vote to List round.

This campaign lets the community vote on which token on the BNB Chain will get the next Binance listing. Voting will take place on Binance Square among several candidates, running from March 19 to March 26.

To participate, users must hold at least 0.01 BNB. With real-time result displays, the final listing will undergo Binance’s review process.

BNB Coin Price To Exceed $700?

Based on the Fibonacci levels, the 61.80% Fibonacci level serves as the neckline for the inverted head and shoulders pattern. A bullish breakout will likely target the 100% Fibonacci level at $717.

This points to the possibility of BNB reclaiming the $700 psychological mark with this pattern breakout. Furthermore, the Fibonacci levels extend the price target to $778, based on the 1.272 Fibonacci level.

On the flip side, crucial support remains at the 38.20% Fibonacci level, near the $600 psychological mark.

Bitcoin Rally: Is $94K the Next Stop After FOMC News?

Albert Brown
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Bitcoin Rally: Is $94K the Next Stop After FOMC News?

Bitcoin skyrockets post-FOMC meeting to $87K. Will this reversal drive BTC price closer to the $100K mark?

Bitcoin reached a 24-hour high of $87,000 after the U.S. Federal Reserve decided to keep interest rates unchanged. Currently, Bitcoin is experiencing an intraday pullback of 1.12% and is trading at a market price of $85,869.

The overnight recovery has created a bullish engulfing candle, signaling a potential trend reversal. Could this result in a price surge toward the $94,000 mark?

Bitcoin Back at $85K, Bulls Target $94K

In the daily chart, Bitcoin’s price trend shows a bullish comeback, gradually gaining momentum. After bouncing off the recent swing low of $76,600 on March 11, Bitcoin is now approaching the $90,000 mark.

Bitcoin Price Chart
Bitcoin Price Chart

Currently, Bitcoin is up by nearly 12% over the past 10 days. The recovery has surpassed the broken support trendline and is now poised to challenge the long-standing resistance trendline.

Additionally, Bitcoin is testing the 61.80% Fibonacci level at $86,146. With this short-term recovery, the MACD and signal lines have given a positive crossover, signaling a buying opportunity supported by the resurgence of bullish histograms.

Meanwhile, the Stochastic RSI shows the K and D lines entering the oversold zone. This suggests a potential short-term pullback near the resistance trendline.

Bitcoin ETFs Mark Near $500M Inflow in Three Days

Amid the massive price surge, institutional support continues as U.S. Bitcoin spot ETFs see their fourth consecutive day of outflows. On March 19, the daily total net inflow stood at $11.80 million.

Bitcoin ETFs
Bitcoin ETFs

Invesco was the sole ETF that experienced an outflow of $10.24 million, while eight ETFs maintained a net zero flow. Bitwise recorded an inflow of $12.09 million, followed by Grayscale’s Bitcoin Trust and Mini Trust, which together saw an inflow of $9.95 million.

Since the start of this week, Bitcoin ETFs have recorded a total inflow of $495.51 million. With this new wave of inflows, institutional support could fuel the next bullish rally.

Analyst Signals Rising Demand to Extend Rally

According to Axel Adler Jr., the massive demand surge in the market is at levels seen during the bottom of the previous bear market. Analysts state that since February 23, when Bitcoin was priced at $96,000, new investors have acquired 172,705 BTC.

This dynamic is at the same level as during the FTX market crash. With such strong demand, the optimistic outlook for Bitcoin signals a potential extended rally.

 

Bitcoin Price Targets

Based on Fibonacci levels, Bitcoin’s extended rally is likely to challenge the 78.6% Fibonacci level at $94,959. This would result in a breakout of the local resistance trendline and further increase bullish momentum.

Thus, extended price targets for Bitcoin include $106,184 and $120,452. On the flip side, a short-term correction could lead to a retest of the $80,000 mark, near the 50% Fibonacci level.

Top Exchange Says XRP Ready for a Moonshot

Abdulkarim Abdulwahab
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Top Exchange Says XRP Ready for a Moonshot

Leading crypto exchange Bitrue has triggered excitement in the XRP community by suggesting the coin could be heading for a moonshot.

In a tweet earlier today, Bitrue specifically asked crypto community members about their readiness to see XRP “go to the moon.” The post has gained traction, with many expressing excitement about the potential for soaring XRP prices.

Why the Talks About XRP Moonshot Right Now?

Notably, Bitrue’s XRP moon hint comes amid major news currently making the rounds in crypto circles. Specifically, the long-running lawsuit between the SEC and Ripple has officially come to an end.

On Wednesday, March 19, Ripple CEO Brad Garlinghouse excitedly disclosed that the SEC had confirmed it would drop its appeal against the company. Back in August 2024, the case received a final judgment from Judge Analisa Torres. It included a monetary penalty against Ripple and an injunction.

However, a few months later, the SEC disclosed that it was appealing parts of the rulings. This move kept Ripple hanging until yesterday, when the agency’s new leadership moved to close the appeal, ending the lawsuit.

The weight of the news impacted the price of XRP. The token quickly soared by about 15% to nearly $2.60. Notably, it briefly ranked among the top gainers of the day.

With the official end of the lawsuit, many believe XRP is headed for the moon. For instance, a few weeks ago, the founder of Alpha Lions Academy, Edoardo Farina, argued that XRP’s price could surge to as high as $10 following the announcement of the end of the Ripple lawsuit.

Community Members React to XRP’s Movement Amid Major News

Meanwhile, the XRP price rally soon lost momentum. At press time, the coin had retraced to $2.45. Yet, it still boasts an impressive 8% gain over the last 24 hours.

Community members reacting to Bitrue’s post highlighted this “disappointing” price performance. Some pondered what else was holding XRP back from a major moonshot, considering one of its biggest hurdles—the Ripple case—was now over.

“This was major news, and nothing major happened to the price,” said X user Spidysense. Another said it’s all talk and no action: “The case ended, and still XRP can’t even break $3.”

What’s Next for XRP?

Meanwhile, this discouraging XRP performance did not come as a surprise to many. Just last week, analyst Dom had suggested that XRP’s performance following the Ripple settlement news would disappoint many. According to him, it would be a great surprise if XRP saw a 20% surge, which, indeed, did not happen.

Dom stressed that the news had already been priced in, with major rumors leading up to the ultimate announcement. He noted that there was no element of surprise, which is typically needed to trigger a major uptrend.

In his view, the factor that could propel XRP would be a major partnership Ripple may announce following the resolution of the lawsuit.

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