Crypto Daybook Americas, Crypto Daybook Americas, Top Stories Your day-ahead search for March 19, 2025 

By Francisco Rodrigues (All instances ET except indicated in any other case)

Cryptocurrency costs are seeing a slight restoration from Tuesday’s decline with bitcoin (BTC) gaining 0.5% and the broader CoinDesk 20 Index (CD20) advancing 0.8% within the final 24 hours.

The drop got here earlier than the Federal Reserve’s coverage resolution due later as we speak. Interest charges are forecast to stay unchanged at 4.25%-4.5%, so buyers will as an alternative be centered on macro outlook with a potential end to quantitative tightening (QT) in sight.

Since mid-2022, the Fed has been slowly shrinking its stability sheet, which inflated to $9 trillion to help the economic system in the course of the COVID period. An earlier-than-expected finish to quantitative tightening, which has to date diminished the Fed’s balance sheet to $6.7 trillion, might enhance danger property like bitcoin.

An finish to QT would see the Fed cease withdrawing liquidity from the market, probably weakening the greenback and making crypto property extra engaging. Traders on prediction market Polymarket are essentially certain an finish to QT shall be introduced earlier than May.

Another enhance for danger property got here from the Bank of Japan (BOJ), which held its benchmark rate of interest unchanged, regardless of rising inflation within the nation. The resolution retains Japanese bond yields regular, limiting the attractiveness of those property and attracting much less capital to conventional markets. Still bitcoin failed to respond.

Bitcoin’s enchantment instead retailer of worth has been seeing rising recognition. The variety of public corporations shopping for bitcoin has greater than doubled to 80 from 33 in simply two years, in response to information from River. Strategy, the biggest company holder of BTC, has even detailed plans to promote $500 million in most well-liked inventory to purchase extra.

Yet, rising tariffs threats have reignited inflationary dangers as financial progress stagnates. The outcome may very well be stagflation, a state of affairs that wouldn’t please market contributors. Stay alert!

What to Watch

Crypto:

March 20: Pascal hard fork network upgrade goes stay on the BNB Smart Chain (BSC) mainnet.

March 21, 1:00 p.m.: The SEC’s Crypto Task Force hosts a roundtable, open to the public, that can give attention to the definition of a safety.

March 24 (earlier than market open): Bitcoin miner CleanSpark (CLSK) will join the S&P SmallCap 600 index.

March 24, 11:00 a.m.: Bugis network upgrade goes stay on Enjin Matrixchain mainnet.

March 25: The Mimir upgrade goes stay on Chromia (CHR) mainnet.

Macro

March 19, 2:00 p.m.: The Federal Reserve broadcasts its interest-rate resolution. The FOMC press convention is likely to be live-streamed half-hour later.

Fed Funds Interest Rate Est. 4.5% vs. Prev. 4.5%

March 19, 3:00 p.m.: Argentina’s National Institute of Statistics and Census releases GDP information.

Full Year GDP Growth (2024) Prev. -1.6%

GDP Growth Rate QoQ (This autumn) Prev. 3.9%

GDP Growth Rate YoY(This autumn) Est. 1.7% vs. Prev. -2.1%

March 19, 5:30 p.m.: The Central Bank of Brazil broadcasts its interest-rate resolution.

Selic Rate Est. 14.25% vs. Prev. 13.25%

March 20, 3:00 a.m.: The U.Okay.’s Office for National Statistics releases January employment information.

Unemployment Rate Est. 4.4% vs. Prev. 4.4%

March 20, 8:00 a.m.: The Bank of England broadcasts its interest-rate decision.

Bank Rate Est. 4.5% vs. Prev. 4.5%

March 20, 8:30 a.m.: The U.S. Department of Labor releases employment information for the week ended March 15.

Initial Jobless Claims Est. 224K vs. Prev. 220K

Continuing Jobless Claims Est. 1890K vs. Prev. 1870K

March 20, 3:00 p.m.: Argentina’s National Institute of Statistics and Census releases This autumn employment information.

Unemployment Rate Prev. 6.9%

March 20, 7:30 p.m.: Japan’s Ministry of Internal Affairs & Communications releases February client value index (CPI) information.

Core Inflation Rate YoY Est. 2.9% vs. Prev. 3.2%

Inflation Rate MoM Prev. 0.5%

Inflation Rate YoY Prev. 4%

Earnings (Estimates based mostly on TruthSet information)

March 27: KULR Technology Group (KULR), post-market, $-0.02

March 28: Galaxy Digital Holdings (GLXY), pre-market, C$0.38

Token Events

Governance votes & calls

Arbitrum DAO is voting on registering the “Sky Custom Gateway contracts” within the “Router contracts” to allow customers to bridge USDS and sUSDS by means of the official Arbitrum Bridge UI.

Frax DAO is voting on introducing the WisdomTree Government Money Market Digital Fund (WTGXX) as an on-chain reserve for Frax USD.

March 21, 11:30 a.m.: Flare to host an X Spaces session on Flare 2.0.

Unlocks

March 21: Immutable (IMX) to unlock 1.39% of circulating provide price $14.16 million.

March 23: Metars Genesis (MRS) to unlock 11.87% of its circulating provide price $146.8 million.

March 31: Optimism (OP) to unlock 1.93% of its circulating provide price $28.22 million.

April 1: Sui (SUI) to unlock 2.03% of its circulating provide price $150.22 million.

April 3: Wormhole (W) to unlock 47.7% of its circulating provide price $118.05 million.

April 7: Kaspa (KAS) to unlock 0.59% of its circulating provide price $12.3 million.

Token Listings

March 19: Hamster Kombat (HMSTR) and DuckChain (DUCK) to be listed on Kraken.

March 31: Binance to delist USDT, FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC, and PAXG.

Conferences

CoinDesk’s Consensus is happening in Toronto on May 14-16. Use code DAYBOOK and save 15% on passes.

Day 2 of three: Digital Asset Summit 2025 (New York)

Day 2 of three: Fintech Americas Miami 2025

Day 1 of two: Next Block Expo (Warsaw)

March 24-26: Merge Buenos Aires

March 25-26: PAY360 2025 (London)

March 25-27: Mining Disrupt (Fort Lauderdale, Fla.)

March 26: Crypto Assets Conference (Frankfurt)

March 26: DC Blockchain Summit 2025 (Washington)

March 26-28: Real World Crypto Symposium 2025 (Sofia, Bulgaria)

March 27: Building Blocks (Tel Aviv)

March 27: Digital Euro Conference 2025 (Frankfurt)

March 27: WIKI Finance EXPO Hong Kong 2025

March 27-28: Money Motion 2025 (Zagreb, Croatia)

March 28: Solana APEX (Cape Town)

April 2-3: Southeast Asia Blockchain Week 2025 Main Conference (Bangkok)

April 3-6: BitBlockBoom (Dallas)

April 6-9: Hong Kong Web3 Festival

April 8-10: Paris Blockchain Week

April 15-16: BUIDL Asia 2025 (Seoul)

Token Talk

By Shaurya Malwa

More than 590 new tokens have been issued on the Tron blockchain-based SunPump as we speak, marking the very best issuance in 4 months and spurring Tron founder Justin Sun to submit “tron meme szn” on X.

Sun later posted that buying and selling charges shall be “subsidized,” including that each memecoin can be “back on Tron.”

SunPump permits prompt buying and selling with out preliminary liquidity seeding, fueling the frenzy. It has pocketed $5.74 million in charges prior to now 24 hours, reaching ranges not seen since August.

Derivatives Positioning

Bitcoin futures open curiosity (OI) on centralized exchanges has risen above $55 billion, up 32% since Feb. 23, with OI in SOL and ETH futures remaining largely stagnant. The market is clearly biased towards the main cryptocurrency.

Positioning within the BTC CME futures, nevertheless, stays mild, close to February lows.

NEAR, TON and TRX are main progress in perpetual futures open curiosity prior to now 24 hours. NEAR stands out with destructive cumulative quantity delta, pointing to internet promoting.

Deribit-listed BTC and ETH choices proceed to indicate bias for brief and near-dated protecting places.

Market Movements:

BTC is up 1.84% from 4 p.m. ET Tuesday at $83,576.60 (24hrs: +0.88%)

ETH is up 2.04% at $1,945.99 (24hrs: +2.6%)

CoinDesk 20 is up 2.2% at 2,624.87 (24hrs: +1.6%)

Ether CESR Composite Staking Rate is unchanged at 2.96%

BTC funding price is at 0.0071% (7.74% annualized) on Binance

DXY is down 0.32% at 103.57

Gold is unchanged at $3,030.30/oz

Silver is down 1.24% at $33.70/oz

Nikkei 225 closed -0.25% at 37,751.88

Hang Seng closed +0.12% at 24,771.14

FTSE is down 0.15% at 8,691.31

Euro Stoxx 50 is up 0.15% at 5,493.38

DJIA closed on Tuesday +0.62% at 41,581.31

S&P 500 closed -1.07% at 5,614.66

Nasdaq closed -1.71% at 17,504.12

S&P/TSX Composite Index closed -0.32% at 24,706.07

S&P 40 Latin America closed unchanged at 2,476.87

U.S. 10-year Treasury price is unchanged at 4.29%

E-mini S&P 500 futures are up 0.23% at 5,682.25

E-mini Nasdaq-100 futures are up 0.32% at 19,764.25

E-mini Dow Jones Industrial Average Index futures are up 0.16% at 42,004.00

Bitcoin Stats:

BTC Dominance: 61.62 (0.27%)

Ethereum to bitcoin ratio: 0.02329 (-0.30%)

Hashrate (seven-day shifting common): 773 EH/s

Hashprice (spot): $47.30

Total Fees: 5.13 BTC / $428,677

CME Futures Open Interest: 154,060 BTC

BTC priced in gold: 27.2 oz

BTC vs gold market cap: 7.71%

Technical Analysis

BTC’s latest bounce towards the 200-day easy shifting common (SMA) is accompanied by a declining development in every day buying and selling volumes.

The discrepancy raises a query mark on the sustainability of the restoration.

Plus, the 50-day SMA has crossed under the 100-day SMA, a bearish sign that the trail of least resistance is to the draw back.

Crypto Equities

Strategy (MSTR): closed on Tuesday at $283.19 (-3.77%), up 1.95% at $288.47 in pre-market

Coinbase Global (COIN): closed at $181.14 (-4.14%), up 1.36% at $183.60

Galaxy Digital Holdings (GLXY): closed at C$17.09 (-1.5%)

MARA Holdings (MARA): closed at $12.07 (-6.94%), up 1.74% at $12.28

Riot Platforms (RIOT): closed at $7.40 (-4.64%), up 1.22% at $7.49

Core Scientific (CORZ): closed at $8.02 (-8.45%)

CleanSpark (CLSK): closed at $7.59 (-6.53%), up 1.98% at $7.74

CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $14.25 (-7.29%)

Semler Scientific (SMLR): closed at $35.49 (-1.5%), up 9.33% at $38.80

Exodus Movement (EXOD): closed at $30.26 (-6.46%)

ETF Flows

Spot BTC ETFs:

Daily internet move: $209.1 million

Cumulative internet flows: $35.87 billion

Total BTC holdings ~ 1,116 million.

Spot ETH ETFs

Daily internet move: -$52.8 million

Cumulative internet flows: $2.47 billion

Total ETH holdings ~ 3.472 million.

Source: Farside Investors

Overnight Flows

Chart of the Day

Programmable blockchain Solana leads different platforms with the very best variety of every day energetic addresses and every day transactions regardless of a slowdown within the memecoin buying and selling frenzy.

The information helps the bull case for the blockchain’s SOL token versus native cash of different smart-contract blockchains.

While You Were Sleeping

Investors Pump $22B Into Short-Term U.S. Debt to Ride Out Market ‘Storm’ (Financial Times): Investors, cautious of Donald Trump’s financial insurance policies, are shifting into haven property, with short-term Treasury funds seeing $21.7 billion in internet inflows from early January to March 14.

Bank of Japan Keeps Interest Rates Steady, Warns of Trump Tariff Risks (Reuters): The central financial institution held its benchmark price at 0.5%, as economists forecast. Governor Kazuo Ueda indicated that future price coverage is prone to replicate the results of tariffs imposed by the U.S.

Drone Strike Sets Fire to Russia Oil Depot Near Damaged CPC Link (Bloomberg): Despite a proposal mentioned Tuesday by Donald Trump and Vladimir Putin to halt assaults on vitality infrastructure, a key Russian oil depot was struck by a Ukrainian drone early Wednesday.

Raydium’s RAY Jumps 13% as DEX Reveals Own Token Issuance Platform (CoinDesk): The Solana-powered decentralized change Raydium is reportedly planning to launch a platform named LaunchLab to extend income and develop its person base.

Untangled Finance Brings Moody’s Credit Scores On-Chain (CoinDesk): The proof of idea system, powered by Polygon’s Amoy testnet, makes use of zero-knowledge proof expertise to securely publish, replace and withdraw credit score rankings on-chain, defending proprietary data.

North Dakota Senate Passes Crypto ATM Bill to Create Licensing Regime (CoinDesk): House Bill 1447 requires crypto ATM operators to difficulty fraud warnings, acquire cash transmitter licenses, use blockchain analytics software program for fraud detection, submit quarterly stories and appoint a compliance officer.

In the Ether

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