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cointelegraph.com Mar 20, 2025 07:05

Bitcoin price tags 2-week highs as markets bet big on Trump crypto news - Bitcoin (BTC) spiked to two-week highs on March 20 amid rumors that the US government was preparing a “major update” to its crypto policy.BTC/USD 4-hour chart. Source: Cointelegraph/TradingViewFed’s Powell injects relief into stocks, cryptoData from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching nearly $87,500 on Bitstamp.Currently consolidating near $86,000, Bitcoin benefitted from a fairly cool Federal Reserve meeting the day prior in which officials opted to hold interest rates at current levels.Policymakers confirmed that they envisage two cuts by the end of 2025, with Fed Chair Jerome Powell describing inflation as having “eased significantly.”“We do not need to be in a hurry to adjust our policy stance, and we are well positioned to wait for greater clarity,” he said in an opening statement before a press conference that followed the rates decision.A “wait-and-see” approach was enough to relieve troubled risk assets, with Bitcoin joining US stocks in surging and finishing the day higher. The S&P 500 ended up by around 1% for the March 20 session, adding $500 billion in market cap.Reacting, Arthur Hayes, former CEO of crypto exchange BitMEX, suggested that the Fed had delivered a key signal for traders to add risk.“JAYPOW delivered, QT basically over Apr 1. The next thing we need to get bulled up for realz is either SLR exemption and or a restart of QE,” he wrote in a characteristic X post, referring to officials rotating from quantitative tightening to quantitative easing. “Was $BTC $77k the bottom, prob. But stonks prob have more pain left to fully convert Jay to team Trump so stay nimble and cashed up.”S&P 500 1-day chart. Source: Cointelegraph/TradingViewBitcoin traders eye US crypto announcementBitcoin traders nonetheless cared more about a potential change in US crypto posturing as whispers suggested that an announcement could come on March 21.Related: Bitcoin futures deleveraging wipes $10B open interest in 2 weeks“This would be his first major update since March 6th, when the national crypto reserve was established,” trading resource The Kobeissi Letter summarized in an X post on the topic. “Rumors state President Trump may be making a significant change to his strategy.”When Trump signed an executive order to create a Strategic Bitcoin Reserve earlier this month, markets stayed surprisingly cool as it emerged that the plan would not necessarily involve the US buying BTC.However, with the latest daily close above key resistance trend lines, cause for optimism was quickly returning.“Bitcoin only needs to rally an additional +8% to position itself for a reclaim of the Range above and end this downside deviation,” popular trader and analyst Rekt Capital reported.“Is that a lot, considering BTC is up almost +13% since last weeks lows?”BTC/USD 1-week chart. Source: Rekt Capital/XThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

FOMO: 88%
cointelegraph.com Mar 20, 2025 06:30

Pakistan eyes crypto legal framework to spur foreign investors - Pakistan is planning to create a legal framework for crypto to try to lure international investors to the Central Asian country.“Pakistan is done sitting on the sidelines; we want to have regulatory clarity; we need to have a legal framework that is pro-business,” Pakistan Crypto Council CEO Bilal Bin Saqib told Bloomberg on March 20.“We want Pakistan as the leader in blockchain-powered finance, and we want to attract international investment,” he added. “Sixty percent of the population is under 30 [years old], we have a Web3-native workforce ready to build.”Earlier this month, Saqib was named chief adviser to Pakistan’s finance minister for the management of cryptocurrencies.Blockchain analytics firm Chainalysis ranked Pakistan ninth for crypto adoption last year, and Saqib claimed there were up to 20 million Pakistani crypto users.Related: Web3 devs, gamers, investors thrive despite India’s crypto policy hurdlesHe called US President Donald Trump “the biggest bullish catalyst for crypto in history.” Trump has moved to create a Bitcoin reserve and crypto stockpile using digital assets forfeited to the government.“Trump is making crypto a national priority, and every country, including Pakistan, will have to follow suit or will be at the risk of being left behind,” Saqib said. Saqib was appointed as CEO of the Pakistan Crypto Council on March 14 by the Finance division of the current Pakistan government. “This is just the beginning, Pakistan is open for business,“ he said at the time. According to Saqib, developing nations such as Pakistan and Nigeria have a lot to benefit from blockchain and crypto adoption. He said:“By leveraging blockchain for remittances and trade, both nations can reduce reliance on traditional banking, lower 5-9% fees, and create seamless cross-border payment networks. “Magazine: How crypto laws are changing across the world in 2025

FOMO: 88%
cointelegraph.com Mar 20, 2025 06:28

$77K likely the Bitcoin bottom as QT is ‘effectively dead’ — Analysts - Bitcoin is unlikely to revisit the $77,000 price level anytime soon after the Fed signaled a slowdown in quantitative tightening (QT), says BitMEX co-founder Arthur Hayes.On March 10, Bitcoin (BTC) dipped near the $77,000 level for the first time since November, according to CoinMarketCap data.“Was BTC $77k the bottom, prob,” Hayes said in a March 20 X post after declaring that QT is “basically over” following the Fed’s March 19 announcement that starting in April, it will slow its securities sell-off by reducing the monthly Treasury cap from $25 billion to $5 billion. Bitcoin is up 3.53% over the past seven days. Source: CoinMarketCapThis could ease liquidity pressures and support risk assets like Bitcoin, as QT involves central banks selling assets to reduce the money supply and possibly raise interest rates. “The next thing we need to get bulled up for realz is either SLR exemption and or a restart of QE,” Hayes added.The Supplementary Leverage Ratio (SLR) exemption was a temporary rule during the COVID-19 pandemic that allowed banks to exclude US Treasury securities from their SLR calculations. Meanwhile, quantitative easing (QE) is a monetary policy that aims to stimulate the economy and encourage more spending.Echoing a similar sentiment to Hayes, Real Vision chief crypto analyst Jamie Coutts said in a March 19 X post that “QT is effectively dead.” Coutts explained that “treasury volatility” has calmed down following the US dollars drop earlier this month, a positive signal for boosting liquidity.Other optimists included Axie Infinity co-founder Jeff “JiHo” Zirlin, who said the Fed slowdown is “great for both crypto and equity markets.”“The Fed has significant leeway to loosen up, providing more support for businesses + markets,” Zirlin said, while Bitcoin venture capitalist Mark Moss said that with QT ending, “the dam is going to break.”Related: Bitcoin risks new death cross’ as BTC price tackles $84K resistanceMeanwhile, crypto market sentiment has spiked following the Fed’s comments. The Crypto Fear & Greed Index, which tracks overall sentiment, has moved into “Neutral” territory at 49 after lingering in the “Fear” area since Feb. 26.Despite Bitcoin being down nearly 22% from its January $109,000 all-time highs, Infinex founder Kain Warwick told Cointelegraph that it is a “normal mid-bull correction.”“I would need to see a much larger breakdown to flip bearish,” Warwick said. “My baseline thesis is the four-year cycle holds once again, which means we keep grinding up through the rest of the year.”Magazine: Classic Sega, Atari and Nintendo games get crypto makeovers: Web3 GamerThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

FOMO: 85%