btc-usd

Arslan Butt•Thursday, March 20, 2025•3 min read

The cryptocurrency market saw significant gains today, with Bitcoin approaching $86,000 and Ethereum reclaiming the $2,000 level. This rally comes as the SEC dropped its multi-year enforcement action against Ripple, signaling a potential shift in regulatory stance, while the Federal Reserve maintained its target range for interest rates and projected two cuts in 2025.

Crypto Market Developments

Positive legislative news along with consistent Federal Reserve monetary policy caused prices of cryptocurrencies to skyrocket everywhere. For the sector, the SEC’s choice to abandon its lawsuit against Ripple following four years of litigation constitutes a major triumph. Underlining a possible “new chapter” for cryptocurrency control under the Trump administration, Ripple CEO Brad Garlinghouse said this event “a resounding victory for Ripple, for crypto, every way you look at it.”

Institutional interest is rising meantime as Minnesota state Senator Jeremy Miller presents the Minnesota Bitcoin Act, allowing the state to make investments in Bitcoin and other cryptocurrencies. This is in line with laws in 22 other American states, where 39 separate proposals pertaining to state Bitcoin investments are under introduction all around.

Bitcoin Holds Above $85,000

BTC/USD

After the Federal Reserve decided to keep interest rates at their present level between 4.25% and 4.5%, Bitcoin BTC/USD started to slow down its surge toward $86,000 Fed Chair Jerome Powell reiterated plans to lower the monthly redemption cap on Treasury securities from $25 billion to $5 billion and maintained the potential of two rate cuts in 2025, hence the bitcoin peaked at $85,950 in intraday.

On-chain data points reveal a distinct market dynamic emerging. Despite recent corrections to a four-month low of $76,600 on March 11, long-term holders—those who have held Bitcoin for at least 155 days—have exhibited a declining selling pressure. Glassnode data indicates that these investors still retain a significant share of their gains, implying strong belief on the long-term direction of Bitcoin.

New Bitcoin whales—addresses holding at least 1,000 BTC with an average acquisition age of less than six months—have also aggressively collected over 1 million BTC since November 2024, so establishing themselves as significant market participants.

Ethereum Crosses Key $2,000 Mark

ETH/USD

Rising almost 8% over the past 24 hours, Ethereum ETH/USD broke above $2,000 to peak at $2,064. After producing higher lows and hitting resistance at $1,950 many times, the altcoin showed a successful breakout from an ascending triangle pattern.

On March 12, ETH moves into accumulation addresses and records a one-day total of 345,210 ETH, suggesting notable long-term holding behavior. Suggesting significant holders are using ETH’s current pricing, which remains 58.4% below its all-time high, these accumulation addresses have gathered over 5.8 million ETH during a 12-month period in 2024 and already purchased 4.73 million ETH in under three months in 2025.

XRP Rallies to $2.55 After Ripple’s Legal Victory

XRP/USD

Following Ripple CEO Brad Garlinghouse’s declaration that the SEC will revoke its appeal against the company, XRP XRP/USD price jumped 15% to $2.55. Comparatively to $5.5 million in long liquidations, the news set over $11.96 million worth of short XRP positions to be sold in just one hour on motion.

Declaring the company engaged in an unregistered securities sale, the SEC started its action against Ripple in December 2020. A federal judge penalized Ripple $125 million—far less than the SEC’s $2 billion demand—and decided that XRP itself is not a security for retail sales in August 2024, therefore rendering a partial success for Ripple. With the SEC’s appeal dropped, the regulatory scene for cryptocurrencies undergoes a clear change.

Solana Sees Over 7% Surge

SOL/USD

As investors moved to riskier assets ahead of Federal Reserve Chair Jerome Powell’s comments, Solana’s native token SOL surged 8% to $ 133.44. Solana’s total value locked (TVL) achieved its highest level since July 2022, rising to 53.2 million SOL on March 17—a 10% rise from the month before—despite a 47% reduction in on-chain traffic over two weeks—a trend witnessed across several blockchains.

Still among the top 10 in prices, several Solana DApps beat more established rivals. Leading in fee generating include Pump.fun, Jupiter, Meteora, and Jito; Solana’s weekly base layer costs exceed those of Ethereum. SOL/USD seems positioned to maybe recover the $170 level last observed on March 3, with balanced leverage levels between longs and shorts and lowered token unlocks projected in the next months.

Cardano Trades in a Range Under $0.78

ADA/USD

Cardano’s price dropped 32% in February then rose 13.5% in March. Social attitude about ADA/USD has reached its greatest positive level in four months while floating sideways between $0.78 and $0.70 over the past ten days.

The SEC’s latest remarks labeling Cardano’s use case as “smart contracts for government services” helped ADA investors. Though on a downturn since its 2024 high of $1.32, the altcoin has maintained a position above the 0.50 Fibonacci retracing line, suggesting that its high-time frame chart stays on a technical uptrend.

Supported by the 200-day exponential moving average, a breakout could perhaps set off a 20% surge toward the $0.84-$0.88 region with immediate opposition at $0.78. Cardano has historically shown extended sideways movement, nevertheless, which may restrict quick gains.