Forex Analysis & Reviews: 10.03.2025 - Bitcoin and Ethereum Are...

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10.03.2025 10:11 AM

Bitcoin and Ethereum Are Showing Extremely High Volatility

Demand in the cryptocurrency market remains, but Bitcoin and Ethereum's every attempt at growth is met with sell-offs.

Since last Monday, when Bitcoin's price volatility reached its highest level of the year, pressure on the leading cryptocurrency has remained high. Volatility at 59.4% is the highest since last December. However, unlike last year—when Bitcoin's price was rising amid expectations of a pro-crypto presidency under Donald Trump—Bitcoin has steadily declined in recent weeks, dropping more than 15% over the past month.

News from the end of last week that Trump signed an executive order to establish a strategic crypto reserve led to a brief spike in volatility, after which it subsided. However, pressure on the crypto market only increased, leading to significant declines in trading instruments. Buying interest has dwindled since no groundbreaking news came from the recent crypto summit.

Trump's executive order mandated a full audit of the federal government's digital assets, including approximately 200,000 BTC, valued at around $17 billion at the time of signing. In an interview, Trump's "crypto czar," David Sacks, stated that the U.S. would not sell the Bitcoin held in reserve but treat it as a "digital Fort Knox."

This decision was seen as a strategic move to strengthen the U.S.'s position in the digital economy and reduce reliance on traditional financial institutions. Many experts viewed it as a recognition of Bitcoin as a legitimate asset class and a potential store of value.

However, Trump's order also sparked criticism. Some analysts raised concerns about the security and storage of such a large cryptocurrency. Others argued that the government should not invest in a volatile asset like Bitcoin.

Despite this, the Trump administration remained firm in its stance. Sacks emphasized that the long-term strategy was integrating digital assets into the national financial system and fostering innovation in this sector.

Yet, Bitcoin's price had fallen, suggesting that either the idea of a strategic reserve was already priced in when it pushed BTC to its record high of over $108,000 in December or the plans for the reserve were not as aggressive as some had hoped. In July last year, Trump introduced the idea of a Bitcoin Strategic Reserve.

Bitcoin Technical Outlook

Buyers are currently targeting a return to the $82,900 level, which would open the door to $84,700 and, from there, a quick move toward $86,500. The ultimate target would be the $88,000 level, signaling a return to a medium-term bull market. Buyers are expected to step in at $80,900 in the event of a Bitcoin decline. If BTC falls below this level, it could drop to $78,800, with the ultimate downside target being $76,700.

Ethereum Technical Outlook

A firm hold above the $2,138 level would open the way to $2,223, with the ultimate target being the yearly high of around $2,313. Breaking above this level would indicate a return to a medium-term bull market. In case of a decline, buyers are expected at $2,055. A drop below this level could quickly send ETH toward $1,980, with the ultimate downside target being $1,900.

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*Disclaimer: The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.