On March 21, 2025, the cryptocurrency market faced significant fluctuations as analysts evaluated the performance of leading assets. Bitcoin (BTC) experienced a decline of 1.51% over the last 24 hours, yet it still maintains a weekly gain of 4.38%, trading at USD 84,337 (approximately Rp 1.38 billion) according to data from Coinmarketcap. The Federal Reserve's recent decision to maintain interest rates between 4.25% and 4.5% led to a brief surge in Bitcoin, which almost reached USD 85,000 earlier this week. However, market sentiment remains cautious amidst projected economic growth concerns.
Ethereum (ETH) also saw a downturn, dropping 3.63% in the past day, although it remains up 7.19% weekly. Presently, ETH is priced at Rp 32.5 million per coin. Similarly, Binance Coin (BNB) showed resilience by rising 1.99% in 24 hours and 10.50% over the week, now valued at Rp 10.3 million.
Other notable cryptocurrencies experienced mixed results. Cardano (ADA) slipped 2.50% within 24 hours but retained a 3.61% increase for the week, valued at Rp 11,832. Solana (SOL) faced a more considerable drop, correcting 4.96% recently, yet still up 5.24% weekly at Rp 2.1 million.
XRP was another asset that faced downward pressure, sliding 3.42% while still enjoying a weekly increase of 9.74%, trading at Rp 40,079. Dogecoin (DOGE) also fell 3.87% in the last day but remains up 4.24% for the week, currently priced at Rp 2,785 per token. In the stablecoin segment, Tether (USDT) and USD Coin (USDC) remained relatively stable, trading around USD 1.00 despite minor corrections of about 0.1%.
Overall, the total cryptocurrency market capitalization stood at USD 2.77 trillion, reflecting a 1.58% decrease over the last 24 hours. The fluctuations in Bitcoin and major altcoins can be traced back to the latest monetary policy signals from The Fed. Following the central bank's decision to uphold interest rates, Bitcoin surged almost 4% but met resistance as the market analyzed the implications of slower economic growth predictions.
This week, The Fed adjusted its growth forecast for the U.S. economy in 2025 to 1.7%, down 0.4% from earlier estimates. This revision raised concerns about a potential economic slowdown, contributing to a mixed sentiment in the cryptocurrency market. While some assets are still riding on weekly gains, overall uncertainty looms, highlighted by ongoing adjustments in monetary policy, which are closely monitored by crypto investors.
In parallel, Onyxcoin (XCN) has been under significant selling pressure. The asset has corrected 9.4% over the past week and plummeted 43% in the last 30 days. As of March 21, XCN's Relative Strength Index (RSI) is at 41.09, having decreased from a previous level of 47.95. With RSI staying below 50 since March 15, it indicates a consistent bearish trend, illustrating that bulls have struggled to regain control.
The BBTrend for Onyxcoin is currently measured at -9.5, indicating it has remained in negative territory for the last two days, signifying a bearish environment. Earlier, on March 17, the BBTrend briefly touched positive at 0.83 but could not sustain this momentum.
Market analysts suggest that if XCN continues its downward trajectory, it may fall below the critical support level of USD 0.010, a low not seen since January 17. Conversely, should XCN regain bullish momentum, it could challenge resistance levels at USD 0.014 and USD 0.020, potentially rising to USD 0.026 if buyers enter aggressively into the market.
As the cryptocurrency landscape continues to evolve, investors remain vigilant, assessing key indicators and market movements to inform their decisions. With forecasts from global financial institutions suggesting a cautious view on economic prospects, the path ahead for both Bitcoin and altcoins appears complex, filled with challenges yet also opportunities for strategic investors.
