Forex Signals Brief March 11: US Jobs Unlikely to Calm Stock Market Volatility

Posted on March 11, 2025March 10, 2025 by Skerdian Meta

Today we have the US JOLTS jobs report, but it’s unlikely to stop the stock market rout if the larger sentiment remains negative.

The US JOLTS jobs are expected to post an increase in February

Continue reading “Forex Signals Brief March 11: US Jobs Unlikely to Calm Stock Market Volatility” →

Binance Suspends Market Maker indefinitely

Posted on March 11, 2025March 11, 2025 by Olumide Adesina

Binance released an official report detailing actions against a market maker involved in irregular trading activities for GoPlus Security and MyShell. The world’s largest cryptocurrency exchange by trading volume found misconduct by the market maker that provided services for both projects.

Binance has consequently offboarded the market maker and permanently barred them from further market-making activities on the platform.

Additionally, the platform has taken the market maker’s profits and will use them to reimburse affected customers.

The individual projects will ultimately provide comprehensive compensation plans. Binance underlined that all authorized market makers must adhere to stringent regulations.

This entails maintaining sufficient order volumes, avoiding manipulative tactics like high-frequency trading, and maintaining constant bid-ask spreads. Additionally, the website warned that breaking these guidelines would have dire repercussions.

Some well-known brands in the digital asset sector have flatly denied any affiliation on the issue. Hong Kong-based game software developer Animoca Brands, a major force in the Web3 space, unequivocally stated that they are not in charge of creating the market for SHELL and GPS.

GSR, a well-known cryptocurrency market maker, addressed the matter and clarified that it is not the market maker responsible for the anomalies that Binance had discovered. Although GSR acknowledged its role as GoPlus Security’s partner and investor, it stated it did not offer market-making services for the project.

Ripple: XRP active addresses triple within a Month

Posted on March 11, 2025March 11, 2025 by Olumide Adesina

Ripple’s interest is high amid the recent market correction in the digital space

Glassnode’s on-chain data indicated active XRP addresses tripled between February 21 and March 10. By March 2, roughly 543,000 active addresses up from 89,606 on February 21.

Active addresses recovered to 531,000 on March 7, despite a slight decline thereafter. XRP controlled more than 370,000 active addresses in March 10 much more than before.

Meanwhile, there has been a notable decrease in XRP’s exchange outflows from Binance.

President Trump’s choice to create a Strategic Bitcoin Reserve instead of a multi-crypto reserve dampened expectations that the SEC would soon drop its appeal in the Ripple case.

The largest daily outflow in a month occurred on March 7, when more than $465 million worth of XRP left Binance. The discrepancy between network activity and price action poses important queries regarding market sentiment. The surge in active addresses usually signifies higher user engagement, which could be a sign of renewed demand

The SEC contested the Programmatic Sales of XRP decision in its opening brief for the appeal on January 15. Following the resignation of former SEC Chair Gary Gensler and the appointment of Commissioner Mark Uyeda as acting Chair, conjecture regarding a potential settlement of the Ripple lawsuit has intensified.

If XRP had been listed as a national Crypto Strategic Reserve Asset, the SEC might have been pressured to drop its appeal.

The Ripple-based token had a horrible week, trading above the 200-day but below the 50-day Exponential Moving Average (EMA). The EMAs provide bullish long-term price signals and bearish short-term ones. Should the 50-day EMA line be broken, ripple bulls might target the high of $3 on March 2 as the next resistance level.

Positive news about the Ripple case could trigger the all-time high of $3.6. On the other hand, a decline below the low of $2.2 on March 4 might reveal sub-$2 levels and the $1.93 support level.

If the bears get past the $1.93 support level, they might then be able to target the February 3 low of $1.7024.

Markets bet U.S. will likely Fall into Recession

Posted on March 11, 2025 by Olumide Adesina

JPMorgan’s economists increased their forecast for the likelihood of a recession from 30% at the start of 2025 to 40% this year despite the White House’s efforts to allay fears amid significant selloffs in tech and cryptocurrency stocks amid high uncertainty in the world’s largest economy.

The Wall Street Journal reported that the analysts stated, “We see a material risk that the US falls into recession this year owing to extreme US policies.”

Additionally, Goldman Sachs analysts increased their 12-month recession probability from 15% to 20%. According to them, if the Trump administration is “committed to its policies even in the face of much worse data,” the prediction may increase even more.

Last week, Morgan Stanley economists increased their expectations for inflation while decreasing their expectations for economic growth. The bank projected that GDP would grow by only 0.5 percent in 2025 and 1.2 percent in 2026.

It comes after one of US President Donald Trump’s top economic advisors resisted calls for a recession. Kevin Hassett, the head of the National Economic Council, told CNBC on March 10 that there were plenty of reasons to be hopeful about the US economy.

“There are numerous reasons to have a very optimistic outlook for the economy in the future. However, there are undoubtedly some anomalies in the data this quarter,” he stated.

Donald Trump stated the US economy was going through “a period of transition” in response to a question regarding the likelihood of a recession.

SEC Rumors & Whale Activity Fail to Stop XRP Slide – Will Ripple Rebound at $2?

Posted on March 10, 2025March 10, 2025 by Skerdian Meta

Cryptocurrencies have been showing weakness in the last 2 months, and despite increased activity in XRP transfers, Ripple coin keeps returning to the $2 support zone. Continue reading “SEC Rumors & Whale Activity Fail to Stop XRP Slide – Will Ripple Rebound at $2?” →

“Sell the Fact” Crypto Reserve Sends Bitcoin Price Below Support, Eyes $80K

Posted on March 10, 2025March 10, 2025 by Skerdian Meta

The crypto market has been retreating since January, with the Bitcoin price slipping below the 200 daily SMA yesterday, which is an important bearish break.

Continue reading ““Sell the Fact” Crypto Reserve Sends Bitcoin Price Below Support, Eyes $80K” →

Forex Signals Brief March 10: Tariffs Weigh on USD & CAD Ahead of US Inflation & BoC Rate Cut

Posted on March 10, 2025March 9, 2025 by Skerdian Meta

This week we have the US CPI inflation and BOC 25 bps rate cut decision, but the USD and CAD remain prone to trade tariffs.

Will we see a bigger BOC rate cut as the trade war heats up?

Continue reading “Forex Signals Brief March 10: Tariffs Weigh on USD & CAD Ahead of US Inflation & BoC Rate Cut” →

Ethereum dips below $2K, Weak ETH ETF interest

Posted on March 9, 2025 by Olumide Adesina

Ethereum is at a critical support level as demand for spot exchange-traded funds weakens. Ethereum, the second-largest cryptocurrency, fell below 2,000 on Sunday night.

This price is roughly 50% lower than its peak in December and 48% lower than it was during the same time last year. Wall Street investors have continually dumped the super altcoin amid weak risk appetite

SoSoValue reports that all Ethereum ETFs lost $120 million in assets last week, following a $335 million loss the week before, for a total loss of $455 million. Compared to the $37 billion inflow into Bitcoin (BTC), the net inflow into these Ethereum ETFs is $2.7 billion.

Market action showed ETH is still struggling to rise above $2,000 and is under pressure.

Its technical indicators continue to show a downward trend.

The BBTrend indicator is negative, indicating that the bullish momentum has not yet reached its full potential. The White House crypto summit may have contributed to the slight increase in Ethereum whales, as investors wait for regulatory changes or for ETH to be added to the US Strategic Crypto Reserve.

Key resistance levels must be broken and buying pressure must be maintained for ETH to turn bullish.

Recent price action showed the altcoin is above the critical $2K support level. The psychological level at $1,500 will be the next point to watch. Such will affirm further downward momentum.

Ethereum might surpass the resistance level at $2,500 and even reach $2,850 if it reverses its current trend. Ethereum may be able to recover $3,000, a level it hasn’t touched since February 1, 2025.

Ripple Under Water, XRP Calls 911

Posted on March 9, 2025 by Olumide Adesina

XRP continued its downward trend from Sunday, trading at $2.14, down almost 10%. President Trump’s Strategic Bitcoin Reserve Executive Order has caused investor dissatisfaction, as evidenced by XRP’s second consecutive session of underperforming the overall market. The Ripple-based token has lost more than a quarter of its value in the last 7 days.

President Trump’s choice to create a Strategic Bitcoin Reserve instead of a multi-crypto reserve dampened expectations that the SEC would soon drop its appeal in the Ripple case.

If XRP had been listed as a national Crypto Strategic Reserve Asset, the SEC might have been pressured to drop its appeal.

Positive news about the Ripple case could trigger the all-time high of $3.6. On the other hand, a decline below the low of $2.2 on March 4 might reveal sub-$2 levels and the $1.93 support level.

If the bears get past the $1.93 support level, they might then be able to target the February 3 low of $1.7024.

Bitcoin in distress Call, falls to $80K Mark

Posted on March 9, 2025 by Olumide Adesina

Bitcoin experienced significant selling pressure as it approached the $80K mark on Sunday.

BTC price extended its retreat into Sunday night oscillating near $80K. The asset reflects a 6.4 percent single-day slide and a 14.2 percent weekly contraction, with digital asset markets navigating twin headwinds: opaque details regarding former President Donald Trump’s potential trade tariffs amplified Bitcoin’s selling pressure

U.S President Trump caused turmoil in the crypto market by tweeting about a proposed crypto reserve that consists of Solana, Ripple, Cardano, Ethereum, and Bitcoin.

He asserted that this crypto reserve would elevate the industry, which has faced years of alleged corruption from the Biden Administration. Trump’s executive order on digital assets instructed the Presidential Working Group to progress with a Crypto Strategic Reserve, and he promised to make the U.S. the global leader in crypto.

He exclaimed, “We are MAKING AMERICA GREAT AGAIN!” Later in the week, there was a lack of clarity, but the White House clarified that he was merely naming the five largest-volume cryptos and that a plan was under development. This was followed by a series of announcements, culminating in a long-anticipated plan to hold cryptos seized by the government instead of selling them.

Trump signed the executive order, and since then, there has been a ‘sell-the-fact’ trade, with bitcoin falling approximately $3000 and reaching new lows. The order left open the possibility of the government purchasing Bitcoin in the future, but it may be challenging due to the need for funding from Congress

A factsheet on the White House website stated that the Commerce and Treasury secretaries are authorized to devise budget-neutral strategies for acquiring additional bitcoin, as long as these strategies do not impose additional costs on American taxpayers.