On March 20, 2025, the cryptocurrency market experienced notable gains, marked by Bitcoin surpassing $85,000 and Ethereum breaking the $2,000 threshold. This bullish trend was spurred by positive market reactions to statements from the Federal Open Market Committee (FOMC), which opted to keep interest rates steady.
For the first time since March 4, when tariffs were implemented, Bitcoin climbed above $85,000, specifically trading at $85,651.67, reflecting a rise of approximately 3.23% over the last 24 hours. The overall trading range for Bitcoin during this period fluctuated between $82,930.50 and $87,443, with its dominance hovering at 60.61%, which is a slight increase from the previous day. The upswing in Bitcoin saw a considerable inflow into Bitcoin ETFs, amounting to $512 million just in the preceding three days before the Fed's decision. This signals a pivotal moment as investors reacted positively to the market conditions.
Ethereum also saw significant activity, rising by more than 4% and surpassing the crucial psychological barrier of $2,000, trading at $2,020.55 by the end of the day. Its daily price ranged between $1,931.36 and $2,068.76. Analyst Sjuul van AltCryptoGems noted on social media, "I see $2,100 as the next obstacle for Ethereum. If ETH surpasses this level, we could see it move towards $2,800." This bullish sentiment stemmed from favorable expectations surrounding the FOMC meeting, which was anticipated to result in beneficial decisions for riskier assets like Ethereum.
Amid the excitement in Ethereum's price movement, technical analyses reveal emerging patterns that could influence future price action. Some chart watchers observed an inverted flag pattern, indicating resistance at $2,200, suggesting that if Ethereum fails to breach this point, it could potentially retrace back to a support zone at $1,950. Conversely, should it break through this pattern, Ethereum might rise further to $2,573.
In addition to Bitcoin and Ethereum, other cryptocurrencies also demonstrated strength. XRP rose by over 7.5%, trading at $2.46, after reaching intraday values between $2.28 and $2.57. This surge followed Ripple-CEO Brad Garlinghouse's announcement that the U.S. Securities and Exchange Commission was no longer pursing its appeal in the case against the company, subsequently easing regulatory concerns.
Solana (SOL) likewise gained traction, climbing by 5.5% to $133.17, having traded within the range of $125.51 to $135.93. The upcoming launch of two exchange-traded funds (ETFs) by Volatility Shares LLC focusing on Solana futures adds further optimism. These ETFs promise standard and leveraged exposure to Solana futures, marking a groundbreaking development in the crypto world.
Overall, the days' events had a ripple effect across the crypto landscape. Four (FORM) emerged as the biggest gainer, with an increase of 8.83% bringing the price to $1.68. Uniswap (UNI) and Lido DAO (LDO) also provided upward momentum, increasing by 7.69% and 7.55%, trading at $6.84 and $1.01 respectively. Hyperliquid (HYPE) followed with a healthy 7.32% rise, now valued at $14.92. However, not all assets shared this positive outlook; EOS (EOS) saw a significant decline of 6.80%, dropping to $0.5864.
The broader cryptocurrency market, which witnessed an impressive total cap of $2.81 trillion, also recorded an increase of 3.39% within a 24-hour period. Total volumes swelled dramatically, increasing by 45.34% to $104.4 billion, as more traders engaged in the rising market.
Looking at niche assets, several crypto projects found themselves on upward trends. Internet Computer (ICP) rose slightly by 0.92% to $5.88, while Kaspa (KAS) surged by 5.81% to $0.08152. Immutable (IMX) experienced a 3.65% increase to $0.5843, alongside Injective (INJ), which rose by 2.86% and is now trading at $9.98. Other altcoins saw modest increases or slight dips but maintained overall stability.
Influential figures in the crypto community have displayed renewed confidence, including analyst Michael van de Poppe, who indicated that on social media, "The ETH/BTC ratio shows hopeful trends after a long period favoring Bitcoin over Ethereum." This optimism reflects broader sentiments as many traders anticipate continuing bullish trends.
As the crypto space evolves, with new technologies such as the Pectra upgrade set to enhance Ethereum’s scalability and user experience, investors remain eager and watchful. The market’s ability to respond positively to regulatory decisions and technological advancements sets the stage for an intriguing future in digital currencies.
