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cointelegraph.com Mar 14, 2025 13:22

Bitcoin-to-gold ratio breaks 12-year support as gold price hits a record $3K - Bitcoin (BTC) breached a rising support trendline against gold (XAU), which has been intact for over 12 years, on March 14. XAU/BTC ratio weekly performance chart. Source: TradingView/NorthStarPopular analyst NorthStar says this breakdown could spell the end of Bitcoin’s 12-year bull run if it stays under the gold trendline for even a week or—worse—a month. Is Bitcoin’s bull market over? Let’s take a closer look at BTC’s correlation with gold. Gold hits new record high as Bitcoin’s uptrend coolsThe BTC/XAU ratio breakdown occurred as spot gold rates hit a new record high above $3,000 per ounce on March 14, after rising by about 12.80% year-to-date. In contrast, Bitcoin, which is often called “digital gold,” has dropped by 11% so far in 2025.BTC/USD vs. XAU/USD YTD performance chart. Source: TradingViewThe performances reflect the contrasting net flows into US-based spot exchange-traded funds (ETF) tracking Bitcoin and gold.For instance, as of March 14, the US-based spot gold ETFs had collectively attracted over $6.48 billion YTD, according to data resource World Gold Council. Globally, gold ETFs have seen $23.18 billion in inflows.Gold ETFs weekly holdings by region. Source: GoldHub.comOn the other hand, US-based spot Bitcoin ETFs saw nearly $1.46 billion in outflows YTD, according to onchain data platform Glassnode. US Bitcoin ETFs year-to-date net flows. Source: Glassnode The driving force behind this divergence lies in growing macroeconomic uncertainty and risk-off sentiment, exacerbated by President Donald Trump’s aggressive trade policies. Related: Bitcoin panic selling costs new investors $100M in 6 weeks — ResearchNew tariffs on China, Mexico, and Canada have heightened fears of a global economic slowdown, pushing investors toward traditional safe-haven assets like gold. Meanwhile, central banks, including those in the US, China, and the UK, have accelerated their gold purchases, further boosting gold prices. Countries that acquired the most gold so far in 2025. Source: GoldHub.comIn contrast, Bitcoin is mirroring the broader risk-on market. As of March 14, its 52-week correlation coefficient with the Nasdaq Composite index was 0.76.BTC/USD vs. Nasdaq Composite 52-week correlation coefficient chart. Source: TradingViewHas Bitcoin price topped?The current Bitcoin-to-gold breakdown aligns with historical patterns, particularly the March 2021–March 2022 fractal, which preceded the last bear market.At that time, the BTC/XAU ratio exhibited a bearish divergence, characterized by rising prices juxtaposed against a declining relative strength index (RSI). This pattern suggested diminishing upward momentum.BTC/XAU ratio two-week performance chart. Source: TradingViewConsequently, the ratio initially retreated toward the 50-period, two-week exponential moving average (EMA) support level before ultimately plummeting by 60%.That BTC/XAU breakdown period coincided with Bitcoin’s 68% correction against the US dollar.BTC/USD two-week performance chart. Source: TradingViewBTC/XAU has once again completed a two-phase EMA retest, echoing the 2021–2022 fractal. BTC/USD two-week performance chart (zoomed). Source: TradingViewWith the RSI showing bearish divergence, momentum appears to be fading, increasing the probability of further declines, especially if the ratio drops decisively below the 50-2W EMA support (~26 XAU).As a result, it could also indicate Bitcoin’s increased vulnerability to price declines in dollar terms, with the 50-2W EMA below $65,000 acting as the next potential downside target.BTC/USD 2W price performance chart. Source: TradingViewThat is down about 40% from Bitcoin’s record high of around $110,000 established in January. Still, Nansen analysts consider such a decline as a “correction within a bull market,” raising possibilities of a bullish revival if the 50-2W EMA holds as support. However, a definitive break below the EMA could thrust Bitcoin into bear market territory. That could drag Bitcoin’s 2025 downside target toward the 200-period two-week EMA (the blue wave) to as low as $34,850 if this Bitcoin-gold fractal repeats. This 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%
cointelegraph.com Mar 14, 2025 15:19

REX launches Bitcoin Corporate Treasury Convertible Bond ETF - REX Shares, an exchange-traded fund (ETF) provider with over $6 billion in assets under management (AUM), launched its Bitcoin (BTC) Corporate Treasury Convertible Bond (BMAX) ETF that invests in the convertible bonds of companies with a BTC corporate reserve strategy.According to the March 14 announcement, the ETF will purchase the convertible notes of companies such as Strategy. Convertible notes are commercial paper that can be converted into equity at a predetermined rate if an investor chooses.Typically, these convertible bonds are purchased by institutional investors, including pension funds, some of which specialize in convertible note investing. Greg King, CEO of REX Financial, said:“Until now, these bonds have been difficult for individual investors to reach. BMAX removes those barriers, making it easier to invest in the strategy pioneered by Michael Saylor — leveraging corporate debt to acquire Bitcoin as a treasury asset.”Investing in convertible bonds, ETFs and the equity of companies such as Strategy, MARA and Metaplanet provides investors with indirect exposure to Bitcoin that removes the technical barrier to entry and self-custodial risks of holding BTC directly.Strategy co-founder Michael Saylor, who popularized corporate Bitcoin treasuries, speaks about the merits of BTC. Source: CointelegraphRelated: Michael Saylor’s Strategy to raise up to $21B to purchase more BitcoinStrategy a proxy Bitcoin bet for institutional investors Institutional investors may lack the technical sophistication to hold BTC directly or have legal or fiduciary constraints preventing them from investing in digital assets.At least 12 US states currently hold Strategy stock as part of their state pension funds and treasuries. Collectively, these states hold over $271 million in Strategy stock using current market prices.The list comprises Arizona, California, Colorado, Florida, Illinois, Louisiana, Maryland, North Carolina, New Jersey, Texas, Utah and Wisconsin.California’s State Teachers’ Retirement Fund and its Public Employees Retirement System hold $67.2 million and $62.8 million in Strategy stock, respectively.Strategy’s Bitcoin purchases in 2025. Source: SaylorTrackerAccording to SaylorTracker, Strategy currently holds 499,096 BTC, valued at over $41.4 billion, making the company one of the largest corporate BTC holders in the world — eclipsing the US government’s estimated 198,000 BTC.Strategy’s most recent Bitcoin purchase occurred on Feb. 24, when the company acquired 20,356 BTC for nearly $2 billion.Magazine: ‘China’s MicroStrategy’ Meitu sells all its Bitcoin and Ethereum: Asia Express

FOMO: 90%
cointelegraph.com Mar 14, 2025 15:19

Watch these Bitcoin price levels as BTC retests key $84K resistance - Bitcoin (BTC) circled $83,000 at the March 14 Wall Street open as traders set out requirements to flip bullish.BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewBTC price RSI teases key “bullish divergence”Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining up to 5% on the day before consolidating.A characteristic lack of momentum at the start of the US trading session persisted, with risk assets still wary of macroeconomic and geopolitical surprises, notably in the form of US trade tariffs.Assessing the current status quo on the daily BTC/USD chart, popular trader and analyst Rekt Capital reported increasing odds of a bullish divergence playing out on the relative strength index (RSI) metric.Here, RSI should make higher lows as the price forms lower lows to indicate waning seller dominance.“Promising early-stage signs of a Bullish Divergence developing,” he wrote in one of the day’s posts on X.“Reclaiming the previous lows of $84k could set price up to further build out this Bull Div.”BTC/USD 1-day chart with RSI data. Source: Rekt Capital/XAnother post flagged a key horizontal resistance line currently under attack from bulls.“Bitcoin continues to Daily Close below the blue resistance. However, each rejection from this resistance appears to be weakening in terms of follow-through to the downside,” Rekt Capital commented.“If this weakening in the resistance persists... This should open up the opportunity for BTC to finally Daily Close above this $84k resistance, reclaim it as support, and finally trend continue to the upside.”BTC/USD 1-day chart with RSI data. Source: Rekt Capital/XKeith Alan, co-founder of trading resource Material Indicators, meanwhile focused on the 21-day and 200-day simple moving averages (SMAs). At the time of writing, these stood at $83,740 and $86,800, respectively.“BTC is poised to make another run at reclaiming the 200-Day MA, but it will only count if we get a sustained close above it, AND it is closely followed by an R/S Flip at the 21-Day MA,” an X post on the topic read.BTC/USD 1-day chart with 21, 200SMA. Source: Cointelegraph/TradingViewAlan referenced one of Material Indicators’ proprietary trading tools, calling for an increase in “bullish momentum.”“Notice how Trend Precognitions A1 Slope line is showing a developing momentum shift,” he commented alongside a corresponding chart. “Reverting from downward momentum is step 1. We need to see an increase in bullish momentum from here, with bids moving higher to stage a sustainable rally.”BTC/USD 1-day chart. Source: Keith Alan/XGold leaves Bitcoin in the dustElsewhere, the S&P 500 saw some welcome relief at the open after dropping 10% from its latest all-time highs to officially begin a technical correction.Related: Bitcoin panic selling costs new investors $100M in 6 weeks — ResearchMeanwhile, gold set new record highs of over $3,000 per ounce as investors sought shelter from turbulent macro conditions.As Cointelegraph reported, Bitcoin broke a key long-term trendline against gold as its relative underperformance in 2025 became all the more visible.XAU/USD 1-day chart. Source: Cointelegraph/TradingViewThis 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%
cointelegraph.com Mar 14, 2025 16:21

Bolivia to use crypto to pay for energy imports — Report - Bolivia’s state-owned energy firm YPFB is planning to use cryptocurrency to pay for energy imports, according to a March 13 report from Reuters. The move comes as the South American nation faces a shortage of foreign currency reserves and a dwindling supply of domestic gas production.A spokesperson for YPFB said that a system had been put in place to use cryptocurrency to purchase energy imports after the government approved the use of digital assets to meet the country’s demand. While YPFB has not used the system yet, it plans to do so.The report does not reveal what cryptocurrency will be used for the payments. Stablecoins, which are digital assets pegged to fiat currency, are often used to make cross-border transactions, though it is unclear if that will be the case in Bolivia.The fuel shortage in Bolivia has led to protests and the threat of strikes among some of the nation’s workers, including farmers, who say the lack of fuel threatens their summer harvest. Only 35%–50% of the country’s public transport system is functional. Alejandro Gallardo, the energy and hydrocarbons minister, said there are challenges due to foreign currency shortages.The spokesperson for YPFB noted that the new purchasing system was designed to support national fuel subsidies in the country amid the shortage of foreign currency. “From now on, these (cryptocurrency) transactions will be carried out,” they said.Related: Vibe killers: Here are the countries that moved to outlaw crypto in the past yearCrypto adoption in Bolivia increasesIn June 2024, Bolivia’s central bank, Banco Central de Bolivia, lifted its ban on Bitcoin (BTC) and crypto payments, allowing financial institutions to transact with digital assets. The ban had been in place since 2014.In September 2024, Bolivia reported a 100% rise in virtual asset trading, with roughly $15.6 million worth of assets traded on a monthly basis between July and September. The $48.6 million traded was largely made up of stablecoins. Stablecoins are often used in developing countries whose local currency has experienced a high degree of devaluation or where there’s a shortage of foreign currency.Related: Stablecoins will see explosive growth in 2025 as world embraces asset classStablecoin use gained further momentum in Bolivia in October 2024 when local bank Banco Bisa introduced a stablecoin custody service. That service, which was supported by the country’s financial regulator, allows the nation’s residents to buy, sell and trade Tether’s USDt (USDT), a US dollar-pegged stablecoin.Cointelegraph wrote in September 2016 that Bolivia had much to gain from adopting cryptocurrencies. At that time, much of that country’s citizens were unbanked, with just 11% of residents using a debit card to make payments and only 5% using credit cards. However, the country continued upholding its ban until 2024, calling crypto a pyramid scheme in May 2017 and arresting crypto advocates.Magazine: Bitcoin payments are being undermined by centralized stablecoins

FOMO: 90%