Crypto Market Pulse - March 10, 2025

LAST WEEK RECAP:

• US S&P Manufacturing PMI was slightly higher than expected at 52.7 (vs 51.6 expected), Services PMI was higher than expected at 51 (vs 49.7 expected).
• US halts all US Military aid to Ukraine.
• China announced a 5% growth target for 2025, a larger budget deficit plan of 4% of economic output, and higher debt issuance to cushion the impact of tariffs.
• ECB cuts interest rates by 25bps as expected Tariffs on Canada and Mexico took effect on Tuesday, before orders to pause (largely for the Auto sector) were signed on Thursday- which will last until April 2, 2025.
• Germany announces plans to boost spending on defense and infrastructure, contributing to a rally in German equities and rise in government bond yields.
• US NFP slightly lower than expected at 151k (vs 160k), unemployment rate slightly higher at 4.1% (vs 4% expected).
• Kraken says SEC agrees to drop lawsuit against crypto exchange.
• Fed’s Powell says the Fed is awaiting clarity on Trump policies before making the next move on rates.
• The U.S. government is creating a Bitcoin reserve funded by seized assets, with Treasury & Commerce exploring budget-neutral ways to acquire more—no taxpayer cost. A separate Digital Asset Stockpile for non-BTC assets from forfeitures will also be established.

LEGACY MARKETS – DXY

Last week, the DXY suffered its largest weekly decline since 2022, falling nearly 3%, key support levels for the DXY have become fragile, the next support level is at 102.

BTC WEEKLY VIEW

After BTC was rejected following two retests towards the top, it resumed its downward trend. We might see BTC continue to fall, testing the key support level around 74k.

ETH WEEKLY VIEW

ETH fell below the 2000 level last week, setting a new low not seen since November 2023, and it also broke through all of the accumulation zones on the left side. As a result, we can only wait for a short-term rebound in ETH, and if it is to reverse the trend, it may require even more time.

ETH/BTC

The ETH/BTC continued to decline last week; however, this week, despite high trading volume, the price hasn’t continued to drop consistently, which is a sign that the downward trend is slowing.

TOTAL3 USD MARKET STRENGTH

TOTAL3 has once again returned to its previous demand zone, and its upward efforts have been fruitless. The price may continue to drop further.

TOTAL3 BTC MARKET STRENGTH

TOTAL3/BTC is still trading within its range, and there hasn’t been any significant volatility this week.

SUMMARY

• Last week, BTC experienced significant volatility. It initially corrected to about $82K as the market digested underwhelming crypto strategic reserve news, then rallied to $92K when Trump paused tariffs on Mexico and Canada. However, it eventually settled around $85K amid disappointing outcomes from the Crypto Summit and weak non-farm payroll data.
• While not explicitly detailed in the summary, ETH likely faced similar macro pressures. Following a downtrend—evidenced in previous sessions by its breach of key support levels—ETH remains under pressure, and investors are waiting for a short-term rebound before a potential trend reversal can be confirmed.
• TOTAL3 retraced back to its earlier demand zone but failed to sustain any upward momentum. With its upward efforts proving ineffective, the price is likely to continue testing lower levels in search of support.
• Looking ahead, key U.S. economic data like CPI, PPI, and sentiment indicators will be crucial in shaping market sentiment and influencing the near-term direction for all three assets.

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