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ARP's Crypto Digest
ARP Digital
March 10, 2025
General Digital Asset Market View:
Source: Farside, ARP Digital Research Team Q1’25
The crypto market surged early in the week, with total market capitalization rising 9% to over $3.2 trillion, fueled by optimism over President Biden’s executive order on a crypto reserve fund. However, concerns over trade wars and tax issues reversed gains. Bitcoin dropped to $83K, briefly fell below $82K, rebounded to $88K, and settled at $86K by week’s end, with little recovery after a White House crypto conference.
Bitcoin ETFs saw heavy outflows this week. On March 3rd, net outflows hit -$74.2M, led by BlackRock (-$81.85M) and Grayscale (-$54.39M), partially offset by Ark’s +$58.18M inflow. Outflows worsened on March 4th at -$143.44M, with outflows from Fidelity (-$46.08M) and Ark (-$43.92M). On March 6th, ETFs lost -$134.4M, led by BlackRock (-$50.71M), with no inflows recorded.
Macro:
The week ahead will centre around the February CPI/PPI releases in the US, with UMich’s consumer sentiment indices (for what little they’re worth) and government funding deal also in focus. Elsewhere, indicators due include the monthly GDP in the UK and wages in Japan (both data and first shunto tally on 14 March). Other events to watch will include the election of a new prime minister in Canada, the BoC decision on Wednesday and more tariffs taking effect. The FOMC is in blackout.
More Crypto:
SEC dismissed or paused lawsuits/investigations involving crypto companies.
Source: CryptoQuant
The unrealized profit ratio among Ethereum whales returned to levels last seen during the previous bear market.
ETH/BTC is declining, FUD is rising, and price action remains volatile. Even with ETH trading at twice the price, many large holders are now seeing the same profit levels as during the last bear cycle.
Source: MatrixPort
Search interest in Solana and Bitcoin is increasing, but Ethereum and memecoins remain near all-time lows.
After the $TRUMP launch, memecoin activity plummeted, with $TRUMP itself dropping 82% from its peak. Historically, sharp declines in search interest often align with price crashes, and this trend is playing out once again.
What Happened This Week:
Kraken says SEC has agreed to drop its lawsuit against the exchange.
Anti-Bitcoin Peter Schiff admits “Bitcoin is digital gold”.
Yuga Labs Announces SEC Has Dropped Its Three-Year Investigation.
El Salvador bought another bitcoin after the IMF demanded them to stop.
US regulator says banks can engage in crypto activities.
Jump Making Reentry Into Crypto Markets.
Trump Orders Bitcoin Acquisition at No Cost to Taxpayers.
What to Look Out For:
Binance to delist non-MiCA stablecoin pairs for EEA users by March 31, 2025; recommends converting to USDC, EURI, or EUR.
Trump Signs Executive Order To Establish Strategic Bitcoin Reserve based on seized Bitcoin, will not acquire additional.
White House Crypto Czar: $ADA, $SOL, and $XRP Mentioned in Trump’s Post for Crypto Reserve Due to Top 5 Market Cap Status.
Trump: Want stablecoin legislation before August recess.
Crypto exchange Kraken gears up for IPO as soon as the first quarter of 2026.
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