The crypto market rebounded on Wednesday after President Donald Trump hinted at a tariff relief after Commerce Secretary Howard Lutnick reportedly stated Trump could roll back tariffs on Canada and Mexico, with an announcement likely on March 5.
As a result, Bitcoin (BTC) rebounded from a low of $81,947 to $88,817 before registering a marginal decline and moving to its current level of $86,950. The flagship cryptocurrency is up nearly 4% over the past 24 hours as it sets its sights on $90,000.
Other cryptocurrencies rebounded as well, with Ethereum (ETH) up nearly 4% and trading at $2,174 after sellers almost pushed it below the $2,000 mark. Ripple (XRP) also rebounded and is up 6%, trading at $2.44, while Solana (SOL) is up ALMOST 4% and trading at $142. Cardano (ADA) has shown the strongest recovery, with the altcoin up nearly 15% over the past 24 hours. Dogecoin (DOGE), Hedera (HBAR), Chainlink (LINK), Stellar (XLM), and Polkadot (DOT) also registered notable increases. The crypto market cap has also rebounded to $2.87 trillion, an increase of just over 4% over the past 24 hours.
Is The SEC Ready To Drop Ripple Appeal?
The upcoming White House Crypto Summit has become a key talking point after President Trump’s announcement of a crypto strategic reserve and shifting trade policies fueled market volatility. The announcement sent XRP’s value surging, reaching $3 before pulling back to $2.20. Demand for XRP and its price stabilized at this level after White House AI and Crypto Czar David Sacks confirmed the summit would provide more details about the assets included in the strategic reserve.
Additionally, speculation about the United States Securities and Exchange Commission (SEC) is set to withdraw its appeal against XRP in the Ripple case is gaining momentum. The agency has already dropped its enforcement cases against Coinbase and Kraken and is reviewing its position in the Binance case. XRP’s inclusion in the strategic reserve could pressure the SEC to expedite its appeal withdrawal. If the SEC goes ahead with its appeal, the administration may face resistance to XRP’s inclusion.
Trump-Tech Alliance Showing Signs Of Tension
Donald Trump’s alliance with the tech and crypto industry is showing signs of stress after several prominent members of the crypto community criticized the decision to include Cardano (ADA), Ripple (XRP), and Solana (SOL) in the strategic reserve. President Trump secured the support of the crypto industry during the campaign trail, promising to make the US the crypto capital of the world and regulatory clarity. The President quickly began fulfilling his promises, signing an executive order to establish a working group on digital assets and pardoning Silk Road founder Ross Ulbricht. The SEC also dropped its probe into Coinbase and other crypto entities.
However, Trump’s announcement about including other cryptocurrencies besides Bitcoin (BTC) in the strategic reserve did not sit well with the industry. Trump’s crypto backers wanted a strategic Bitcoin reserve, viewed by crypto enthusiasts as an excellent way to deploy capital into a decentralized currency alternative to hard money. Coinbase CEO Brian Armstrong has said that Bitcoin offers a story as a successor to gold. Critics have argued that including other assets in the reserve means Trump would be using taxpayer money to buy riskier assets and bolster the net worth of only a few individuals who hold the coin. Joe Lonsdale, founder of venture firm 8VC and a vocal Trump supporter, stated,
“Taxation is theft. It should be kept to a minimum. It’s wrong to steal my money for grift on the left; it’s also wrong to tax me for crypto bro schemes.”
David Sacks, venture capitalist and White House AI and Crypto Czar, took exception to Lonsdale’s comments, saying it was premature to jump to conclusions. Sacks and Lonsdale are part of a conservative circle in the tech world, with Elon Musk and Peter Thiel at the center. Sacks responded to Lonsdale, stating,
“Nobody announced a tax or a spending program. Maybe you should wait to find out what’s actually being proposed.”
El Salvador Adds 1 BTC To Reserve
El Salvador has increased its Bitcoin reserves by purchasing an additional 1 BTC, bringing its total holdings to 6,101.18 BTC, valued at $527 million. The move aligns with the country’s “1 BTC a day” accumulation strategy, aimed at economic diversification and a hedge against traditional financial systems. Despite recent volatility, the purchase also highlights El Salvador’s growing confidence in BTC.
The purchase comes as the Latin American country adjusts its Bitcoin strategy to comply with the $1.4 billion loan agreement with the International Monetary Fund (IMF). It also amended its Bitcoin law to make its use voluntary instead of mandatory. The adjustment was part of the country’s efforts to secure funding from the IMF and maintain fiscal stability. Despite these adjustments, El Salvador continues to bolster its BTC reserves, adding 46 BTC worth $3.97 million in the last 30 days.
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) shows signs of extreme volatility, with the flagship cryptocurrency reaching as high as $96,484 and dropping as low as $78,179 during the last few sessions. BTC is up over 4% in the past 24 hours, recovering from Tuesday’s decline when it dropped to $81,485 before rebounding. Market sentiment has turned uncertain, with the Fear and Greed Index rooted in the “fear” zone thanks to wild price swings However, some analysts believe BTC could see a recovery, citing technical signals that have preceded rallies in the past. BTC’s open interest has declined to a six-month low, a level last seen when BTC traded between $50,000 and $60,000 before surging to $100,000. According to one analyst, the pattern signaled a market bottom, suggesting the flagship cryptocurrency could be on the brink of a rally.
“Bitcoin’s open interest crashes to 6-month low! But here’s the thing: the last time this happened, BTC rallied to $100k! Is history about to repeat itself?”
BTC’s funding rate has also turned negative, an indicator that precedes a strong upward push. The RSI has also plunged into the oversold zone, indicating that BTC is due a rebound. However, analysts have also cautioned BTC must reclaim key resistance levels before a bullish reversal is confirmed.
As we can see in the chart, BTC was bearish during the previous week and has experienced significant volatility since the weekend. The price registered a sharp drop at the beginning of last week, falling nearly 5% to $91,622. Sellers retained control on Tuesday as BTC fell below $90,000 on its way to an intraday low of $85,985. The price recovered from this level but could not reclaim $90,000, ultimately settling at $88,654 after a drop of just over 3%. Bearish sentiment intensified on Wednesday as the price fell over 5% to $84,129. Despite the overwhelming selling pressure, BTC recovered on Thursday, rising to an intraday high of $87,045 before settling at $84,657 after a marginal increase.
Source: TradingView
Bearish sentiment returned on Friday as BTC plunged below $80,000 and the 200-day SMA on its way to an intraday low of $78,173. However, it rebounded from this level to reclaim $80,000 and settle at $84,362 after a marginal decline. Buyers returned to the market on Saturday as the price registered an increase of 2.16% and settled at $86,182. Markets rallied on Sunday following Donald Trump’s statement about the crypto strategic reserve. As a result, BTC surged over 9% to reclaim $90,000 and cross the 20-day SMA to settle at $94,322. However, sentiment changed on Monday, and BTC crashed nearly 9% to $86,201, giving up almost all of Sunday’s gains. Sellers drove BTC to an intraday low of $81,485 on Tuesday as selling pressure intensified. However, it rebounded from this level to register an increase of 1.28% and settle at $87,300. The current session sees BTC marginally up as buyers and sellers struggle to establish control.
The RSI and MACD indicate that sellers have the advantage. If BTC can reclaim $90,000 it means sentiment is changing and buyers have the upper hand, with bears exhausted. The next level of resistance lies at $94,000. On the other hand, a decline could see BTC drop below $85,000 and risk a retest of the $80,000 level.
Ethereum (ETH) Price Analysis
Ethereum (ETH) barely held on to $2,000 on Tuesday as it plunged to an intraday low of $1,995 before rebounding. The chart also shows the 50-day SMA slipping below the 200-day SMA, adding further pressure on its value. However, despite these signals and the $1.5 billion Bybit hack, ETH remains relatively stable. However, ETH must reclaim key resistance levels to mitigate the bearish sentiment and prevent a decline below $2,000.
ETH traded in the red for all of last week, starting with a sharp drop on Monday, dragging it below the 20-day SMA to $2,517. ETH continued declining on Tuesday, falling to an intraday low of $2,332 before settling at $2,495, losing the key $2,500 level. Bearish sentiment intensified on Wednesday as the price slumped over 6% to $2,334. A drop of over 1% on Thursday took ETH to $2,308. Selling pressure intensified on Friday as ETH fell to an intraday low of $2,077. It recovered from this level to settle at $2,238, ultimately registering a drop of just over 3%.
Source: TradingView
ETH registered a marginal decline on Saturday as buyers prevented a decline below $2,200. Sentiment changed on Sunday as ETH surged nearly 14% to move past $2,500 and settle at $2,520. However, markets turned bearish on Monday, and ETH dropped almost 15%, giving up all of Sunday’s gains and settling at $2,149. The price fell to an intraday low of $1,995 on Tuesday as selling pressure intensified. ETH recovered from this level to register an increase of just over 1% and settle at $2,172. The current session sees the price up nearly 2% as buyers look to push the price towards $2,500. The MACD indicates bears have the upper hand, while the RSI is below the neutral zone, meaning ETH could see a decline over the next few sessions.
Solana (SOL) Price Analysis
Solana (SOL) was struggling to move past $150 after dropping below it last Monday and traded in a narrow range for the rest of the week. SOL started the previous week with a drop of nearly 16% to go below $150 and settle at $142. Despite the bearish start to the week, SOL recovered on Tuesday, rising 1.60% and settling at $144. Sellers were back in control on Wednesday as the price dropped over 6%, slipping below $140 and settling at $135. SOL recovered on Thursday, rising nearly 2% to $137. Sellers forced SOL to an intraday low of $125 on Friday, pushing it below a key support level. However, it recovered from this level to register an increase of nearly 8% to reclaim $140 and settle at $148.
Source: TradingView
Buyers lost momentum on Saturday, allowing sellers to take over. As a result, SOL dropped just over 3% and settled at $143. Markets rallied on Sunday, and SOL registered an increase of nearly 25% to move past $150 and the 20-day SMA and settle at $178. However, the rally lost momentum on Monday, and SOL fell over 20% to $142, giving up all of Sunday’s gains. Despite the overwhelming bearish sentiment, SO recovered on Monday, rising just under 2% to settle at $144. The current session sees SOL marginally down as buyers and sellers struggle to establish control. SOL must reclaim $150 to prevent a downtrend. However, the MACD and RSI indicate sellers have the upper hand. If SOL dips below key support levels, we could see a decline towards $100.
Cardano (ADA) Price Analysis
Cardano (ADA) has come under considerable flak for its inclusion in the US strategic crypto reserve. However, the announcement has positively impacted the asset, sending its price skyrocketing. ADA was trading in the red last week, dropping over 11% last Monday to slip below the 20-day SMA and settle at $0.683. Sellers retained control on Tuesday as ADA registered a marginal decline and then dropped over 5% on Wednesday to slip below the 200-day SMA and settle at $0.647. Buyers attempted a recovery on Thursday as ADA reached an intraday high of $0.680. However, they lost momentum after reaching this level, and ADA dropped to $0.646, registering a marginal decline. Selling pressure intensified on Friday as the price fell to an intraday low of $0.581. It recovered from this level to settle at $0.633, ultimately registering a drop of just over 2%.
Source: TradingView
Buyers returned to the market on Saturday, and ADA registered an increase of over 4% to settle at $0.660. ADA registered an incredible rally of over 72% on Sunday after President Trump announced its inclusion in the strategic crypto reserve. As a result, ADA went past key moving averages and resistance levels and settled at $1.13. However, the rally lost momentum on Monday, and the price dropped nearly 25%, slipping below $1 and settling at $0.857. Sellers dragged ADA to an intraday low of $0.760 on Wednesday as selling pressure intensified. The price rebounded from this level to register an increase of almost 10% and settle at $0.942. The current session sees ADA marginally up as it looks to reclaim $1. The MACD and RSI indicate buyers have the upper hand, suggesting ADA could continue to push higher over the next few sessions.
Jupiter (JUP) Price Analysis
Jupiter (JUP) recovered strongly after dropping over 11% last Monday and declining to $0.687. The price continued to decline on Tuesday, falling to an intraday low of $0.711. However, it recovered from this level to register an increase of 1.57% and settled at $0.698. JUP continued to push higher on Wednesday, rising over 4% and settling at $0.729. Despite the positive sentiment, JUP declined on Thursday, falling 1.48% to $0.718. JUP fell to an intraday low of $0.670 on Friday as selling pressure intensified. However, it rebounded from this level to register an increase of over 5% and settle at $0.758.
Source: TradingView
The price registered a marginal decline on Saturday before surging over 11% on Sunday to move past the 20-day SMA and settle at $0.834. However, the rally lost momentum on Monday as JUP crashed nearly 20%, slipping below the 20-day SMA and a key support level and settling at $0.671. Sellers retained control on Tuesday as JUP fell to an intraday low of $0.598 before settling at $0.644 after a drop of just under 4%. The current session sees JUP marginally down as buyers and sellers struggle to establish control.
Chainlink (LINK) Price Analysis
Chainlink (LINK) traded in the red for most of last week before registering a sharp increase over the weekend as markets rallied. However, Monday’s drop saw the price fall below key support levels and moving averages. LINK began the previous week with a fall of over 13%, slipping below the 200-day SMA and settling at $15.26. The price fell to an intraday low of $14.08 on Tuesday as selling pressure intensified. However, it rebounded from this level to register a marginal increase and settle at $15.31. The price lost momentum on Wednesday, registering a marginal drop, and continued to decline on Thursday to settle at $15.11. Bearish sentiment intensified on Friday as LINK fell to an intraday low of $13.46. The price rebounded from this level to settle at $14.81, a decline of 2.01%.
Source: TradingView
Sellers retained control on Saturday as LINK registered a marginal decline and settled at $14.75. However, the price rallied on Sunday, rising over 18% to move past the 20 and 200-day SMAs and settle at $17.42. However, bulls lost momentum on Monday, and the price fell over 17% to $14.45. LINK fell to an intraday low of $13.08 on Tuesday as selling pressure intensified. The price recovered from this level to register an increase of nearly 3% and settle at $14.86. The current session sees LINK up almost 9% as it looks to move past the 20 and 200-day SMAs and push towards $20.
Cosmos (ATOM) Price Analysis
Cosmos (ATOM) has struggled to reclaim $5 since falling below it last Monday after a drop of 11%. As a result, ATOM went below the 20-day SMA and settled at $4.35. Despite the bearish start to the week, ATOM recovered on Tuesday, rising over 2% and settling at $4.45. Buyers retained control on Wednesday as ATOM rose 3.41% and settled at $4.60. Buyers attempted a move past the 20-day SMA on Thursday as the price reached an intraday high of $4.77. However, it lost momentum after reaching this level and dropped nearly 1% to $4.56. ATOM plunged to a low of $4.21 on Friday as selling pressure intensified. Despite the overwhelming selling pressure, it rebounded from this level to register an increase of 1.60% and settle at $4.63.
Source: TradingView
Bearish sentiment returned on Saturday as the price fell over 3% to $4.49. However, markets rallied on Sunday, and ATOM surged over 9% to cross the 20-day SMA and settle at $4.90. Sentiment changed on Monday as markets turned bearish. As a result, ATOM plunged nearly 14%, slipping below the 20-day SMAa and settling at $4.22. Sellers retained control on Tuesday as the price fell to an intraday low of $3.89. It rebounded from this level to reclaim $4 and settle at $4.16, ultimately registering a drop of 1.38%. The current session sees ATOM up 1.58% and trading at $4.23.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://cryptodaily.co.uk/2025/03/crypto-price-analysis-3-5-bitcoin-btc-ethereum-eth-solana-sol-cardano-ada-jupiter-jup-chainlink-link-cosmos-atom