Crypto Market Pulse - March 3, 2025

LAST WEEK RECAP:

• Bybit $1.4 Billion Breach was found to be linked to Safe Wallet vulnerability.
• SEC Drops Investigation Into DeFi Firm Uniswap Labs.
• HOOD: SEC Closes Investigation Into Robinhood Crypto with No Action.
• Nvidia reported earnings per share (EPS) of $0.89 vs $0.84 expectations. However, guidance for second quarter margins was lower than expected at ~71% vs 72.1% expected.
• Trump reiterated that 25% tariffs on Mexico and Canada will go live on March 4, China will face additional 10% tariffs, and reciprocal tariffs will kick in on April 2. Trump also threatened to impose a 25% tariff on the EU.
• Initial jobless claims higher than expected at 242k vs 221k expected.
• Core PCE Price Index in line with expectations with MoM at 0.3% and YoY 2.5%.
• Personal Income MoM higher than expected at 0.9% MoM vs 0.3% expected, while Personal Spending MoM lower than expected at -0.2% vs 0.1% expected.
• White House to host Crypto Summit on March 7, to include prominent founders, CEOs, and investors from the Crypto industry.
• Trump posts on Truth Social a Crypto Strategic Reserve that contains XRP, SOL, ADA, BTC and ETH among others to be revealed.

LEGACY MARKETS – DXY

The US dollar found support in the demand zone, and coupled with the impact of Trump's proposed tariff policies, the DXY has shown a slight pickup in strength.

BTC WEEKLY VIEW

BTC broke down from its topping structure, tested $79K support, and sharply rebounded to key resistance. Despite initial panic, bullish momentum has revived. Watch for rejection at this level or consolidation leading to a new ATH.

ETH WEEKLY VIEW

ETH has completed its sixth consecutive test of the critical 2200-2100 support zone (a high-conviction support area), followed by a parabolic rebound to retest the broken supply cluster from previous distribution. Market focus now shifts to whether price action can decisively breach the multi-month downtrend established since December 2024. Current technical structure suggests the market may require additional consolidation before establishing a clear directional bias.

ETH/BTC

ETH/BTC pair continues to exhibit lackluster price action with no clear relative strength divergence. A sustained rebound in ETH's alpha potential likely requires a decisive break above the multi-month descending trendline. Until this technical threshold is breached, the cross remains vulnerable to further mean reversion within its macro consolidation framework.

TOTAL3 USD MARKET STRENGTH

TOTAL3 has established confluent support at its historical swing low, with the current price action suggesting a potential validated double bottom pattern.

TOTAL3 BTC MARKET STRENGTH

The TOTAL3/BTC is showing breakout signals against the backdrop of improving macro catalysts.

SUMMARY

• BTC experienced significant volatility, dropping from a high of $109k in mid-January to a low of $78k, influenced by shifting U.S. trade policies and macroeconomic concerns. However, President Trump's announcement of a U.S. Crypto Strategic Reserve, including BTC, Ethereum (ETH), XRP, Cardano (ADA), and Solana (SOL), led to a rebound, with BTC reaching approximately $93,000.
• ETH experienced a dip alongside broader market sell-offs, but the sentiment improved towards the weekend following positive news of the U.S. Crypto Strategic Reserve
• Overall, while the Crypto Strategic Reserve initiative has sparked some bullish sentiment, concrete actions are still awaited, and further market movement will depend on updates from the upcoming Crypto Summit and broader macroeconomic developments.
  

DISCLAIMER:

The information in this report is for information purposes only and is not to be construed as investment or financial advice. All information contained herein is not a solicitation or recommendation to buy or sell digital assets or other financial products.

This post was prepared by Kairon Labs Trader Patrick Li and Travis Su.

Edited by: Marianne Dasal