BTC, ETH Rebounds; Markets Await March 7 White House Crypto Meet Outcome
BTC, ETH Rebounds; Markets Await March 7 White House Crypto Meet Outcome By Manoj Dharra
Metaplanet Buys 497 BTC in Another Bargain-Hunting Bitcoin Acquisition
This brings its total BTC holdings to 2,888 BTC with an average purchasing price of $84,251.
El Salvador Acquires 5 Bitcoin Amid IMF Loan Conditions
El Salvador added 5 Bitcoin worth approximately $415,000 to its holdings, bringing the total to 6,100 BTC valued at around $510 million.
Florida Considers $1.85 Billion Bitcoin Reserve – Is Institutional Adoption Next?
Florida considers a $1.85 billion Bitcoin investment, reflecting growing state-level adoption and institutional acceptance. Source
Ethereum Devs Activate Pectra Upgrade on Sepolia Testnet in Last Phase Before Mainnet Rollout
Ethereum’s Pectra upgrade was activated on the Sepolia testnet. Sepolia is the last major test phase before the planned mainnet launch, which is expected next month.
Ethereum Whale Bought 17,855 ETH Worth $36,000,000 at an Average Price of $2,054
South Korean Regulators May Follow Tokyo’s Lead on Bitcoin ETF Approval
The Japanese government plan will likely approve these measures to approve Bitcoin ETFs before new legislation rolls out in the second half of 2025 or early 2026. The Financial Supervisory Service, another top South Korean regulator, has reviewed the Japanese Financial Services Agency (FSA)’s crypto policy and has “shared its findings with relevant organizations” in Seoul.
Belarus President Lukashenko Orders Gov’t to Step Up Crypto Mining Efforts
Lukashenko told the minister to pay “attention” to “global trends” and “engage in mining if it is profitable.” Russian media outlets report that both Russian and Chinese investors “have already shown an interest” in backing Belarus-based crypto mining projects. Lukashenko further suggested that Belarus might one day create its own national crypto reserve.
The Cardano Price Was Last Around $0.93
Over 20% up from its earlier lows and re-igniting hopes that the cryptocurrency could soon retest the highs it hit above $1.30 last December.
Matrixport: In the Absence of Market Catalysts, Traders Should Focus on Solana and Bitcoin
Matrixport released today’s chart, saying that Google search trends show that market interest in Solana and Bitcoin is rising, while Ethereum and memecoin are still in a slump.
Key Reasons/Outlook
Broader risk appetite in financial markets took a substantial turn for the better on Wednesday, despite Trump’s imposition of tariffs on Mexico, Canada, and China, which just came into force. Positive rhetoric from Ukrainian President Zelenskyy regarding the possibility of signing a minerals deal with the USA that could soon end the Ukraine/Russia war could be bolstering sentiment. Perhaps more important could be the market’s growing confidence that the Fed will deliver more rate cuts this year to protect against any incoming protracted US economic malaise. Per the CME Fed Watch tool, the market’s base case now appears to be for three rate cuts this year, as opposed to bets for only one or even zero just weeks ago.
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