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cointelegraph.com Mar 21, 2025 16:15

Gov’t can realize gains on gold certificates to buy Bitcoin: Bo Hines - The Trump administration appears poised to grow its Strategic Bitcoin Reserve after the White House’s crypto council head suggested budget-neutral ways for acquiring the digital asset. “There’s been countless ideas” about how the government can acquire more Bitcoin (BTC), Bo Hines, executive director of the President’s Council of Advisers on Digital Assets, said in an interview with the Crypto in America podcast. Bo Hines said the crypto council is open to creative ways to build the government’s Strategic Bitcoin Reserve. Source: Eleanor TerrettPerhaps the best way of doing so would be to realize the gains on the government’s gold certificates, which are priced far less than bullion is actually worth today. “I’ll actually point you to Senator [Cynthia] Lummis’ Bitcoin Act of 2025, in which she believes that we can identify the real true value of some of these gold certificates,” Hines said. “If we actually realize the gains on [these holdings], that would be a budget-neutral way to acquire more Bitcoin,” he said.As the Federal Reserve Bank of St. Louis explains, all gold certificates held at Fed banks are “computed at a statutory price of $42.22 per troy ounce.” By comparison, spot gold is currently valued at more than $3,000 an ounce. The spot gold price has rallied 40% over the past year. Source: KitcoSenator Cynthia Lummis’ proposed BITCOIN Act of 2025 lists “Federal Reserve System gold certificates” as one source of funding for Bitcoin purchases. The bill requires that Fed banks “tender all outstanding gold certificates in their custody to the Treasury Secretary” so that the secretary can issue new certificates “that reflect the fair market value price of the gold held against such certificates by the Treasury.”Hines said he’s open to any ideas about how to grow the reserve, so long as it “doesn’t cost the taxpayer a dime.” That’s the crux of budget-neutral strategies for acquiring Bitcoin laid out in President Donald Trump’s March 6 executive order. “With all the inter-agency working group actors that will convene in these meetings, I mean, we’re going to hear some tremendous ideas about how we can do it. I just don’t want to box us in yet to what that actually looks like because I want to be able to hear from everybody.”The US government currently holds roughly 207,000 BTC seized in criminal and civil proceedings. By default, this makes America the largest known Bitcoin holder among nation-states. Bitcoin holdings by nation-state. Source: BitboRelated: US stablecoin bill likely in ‘next 2 months’ — Trump’s crypto council headBitcoin’s special statusDuring the interview, Hines reiterated Bitcoin’s special status, suggesting that the White House crypto council was treating the strategic reserve and digital asset stockpile very differently. “The reason we structured the [Strategic Bitcoin Reserve] the way we did is because Bitcoin is different. It’s unique; it’s a commodity, not a security,” said Hines, adding:“David [Sacks] likes to say it has the immaculate conception, meaning there’s no issuer. It has intrinsic stored value, and it’s traditionally accepted store of value as well. We wanted to make that distinction [between stockpile and reserve].”The White House rushed to defend Bitcoin’s special status shortly after President Trump announced plans for a digital asset stockpile, which included a smattering of large-cap altcoins. Even Commerce Secretary Howard Lutnick clarified that Bitcoin would be treated differently from the rest of the altcoins listed. Trump, pictured alongside White House crypto czar David Sacks and Bo Hines, signs an executive order establishing the Bitcoin Strategic Reserve. Source: David SacksIn addition to its Bitcoin acquisition targets, the Trump administration is making significant headway on cryptocurrency legislation through bipartisan cooperation. According to Representative Ro Khanna, a California Democrat, Congress should be able to pass a stablecoin bill and crypto market structure bill this year. Speaking at the Digital Asset Summit in New York, Ro Khanna (right) said there are between 70 and 80 Democrat lawmakers who now understand the importance of stablecoin legislation. Source: CointelegraphMagazine: Unstablecoins: Depegging, bank runs and other risks loom

FOMO: 88%
cointelegraph.com Mar 21, 2025 16:51

Rising XRP spot market volumes hint at next stage of a parabolic price rally — Analyst - XRP (XRP) price rallied 16% less than 24 hours after news that Ripple’s legal dispute with the US Securities and Exchange Commission (SEC) could end made headlines on March 19. However, XRP has shed half of its gains over the past two days, losing position below an important level at $2.50.XRP rally continues to be spot-drivenXRP matched its all-time high of $3.40 on Jan. 16 as soaring spot buy volumes provided a sustainable parabolic rally that lasted for weeks.A similar outlook is taking shape again in the XRP market today. Data from Velo suggests that the aggregated spot tape CVD turned positive for the first time since late January. XRP price and aggregated spot tape data. Source: Velo.chartThe aggregated spot tape cumulative trade delta indicator tracks the net difference between the aggressive buy and sell trades across multiple exchanges. When the indicator turns green and rises above zero, it signals growing buying pressure as market buy trades outnumber sell trades. This upward trend reflects persistent buyer aggression, triggering a price rise.XRP price, open interest and aggregated premium data. Source: Velo.chartA negative aggregated premium on open interest implied that the futures market has continued to bid against an XRP price rise. This means the current situation is a tussle between bullish spots and bearish perps. Related: Why is the crypto market down today?XRP may tag $2 first before chasing new highs CrediBULL Crypto, an anonymous crypto trader, implied that XRP is on track for an all-time high above $3.40 in the next few weeks, but the crypto asset will potentially retest its immediate lows around $2 before embarking on an uptrend. Using a Power of 3 technical setup, the trader said that XRP is currently in an accumulation range. This is expected to be followed by a manipulation period, where prices will potentially take out downside liquidity around $1.80 to $2. Dom, a markets analyst, said XRP’s all-time high volume weighted average price (VWAP) is still a bullish threshold for XRP, and the altcoin must “stabilize” around the $2.50 level.XRP analysis by Dom. Source: X.comWhile the immediate directional bias is hard to predict, XRP’s long-term market structure remained “constructive,” and one of the extremes ranges at $3 and $2, should be breached over the next few days. From a technical perspective, XRP could avoid a $2 dip if the prices establish a bullish close above $2.65. This creates a positive break of structure (BOS) for the token, which might convince futures traders to adopt a bullish outlook alongside spot traders. XRP 4-hour chart. Source: Cointelegraph/TradingViewOn the contrary, a close below $2.23 nullifies XRP’s recent price action and reinstates the overall bearish trend. Retaining a position above the incline support (black trendline) is necessary for a higher high trend over the next few days. Despite bullish spot activity, XRP prices linger without a decisive trend shift. The market drifts in sideways consolidation, with bulls and bears locked in a tug-of-war for control.Related: XRP price chart hints at 75% gains next as SEC ends lawsuit against RippleThis 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%