Crypto Market Drama: Bitcoin’s Rollercoaster and Ripple’s Optimism!

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Ah, the crypto market, that whimsical realm where fortunes are made and lost faster than one can say “blockchain.” Just yesterday, Bitcoin (BTC) was strutting around like a peacock, flaunting a high of $86,444, only to trip over its own feet and tumble down to a low of $83,709. Now, it finds itself languishing at $84,700, wondering where it all went wrong. 🦚

Ethereum (ETH), not to be outdone, has also decided to join the pity party, dropping over 1.50% in the last 24 hours and slipping below the $2,000 mark. Ripple (XRP) is feeling the pinch too, down almost 2% and trading around $2.41. Meanwhile, Solana (SOL) is down over 4%, as if it’s trying to win a prize for the most dramatic decline, settling at $127. 🎢

Cardano (ADA) is down over 1%, while Dogecoin (DOGE) is down almost 3%, trading at a paltry $0.169. It seems like everyone is in a race to the bottom, except for Toncoin (TON), Stellar (XLM), and Polkadot (DOT), who are apparently on a different track altogether, enjoying their little victories. 🏆

SEC Declares Crypto Mining a Non-Crime

In a twist that could only be described as a plot twist worthy of a soap opera, the United States Securities and Exchange Commission has declared that Proof-of-Work mining does not violate securities law. Yes, you heard that right! According to the SEC, miners are merely engaging in “administrative activities” to secure the network. So, if you were worried about your mining operation being a criminal enterprise, fear not! You’re just a glorified accountant. 🧾

“By adding its computational resources to the network, the miner merely is engaging in an administrative or ministerial activity to secure the network, validate transactions and add new blocks, and receive rewards.”

Ripple CEO: XRP is the Future (or So He Hopes)

Ripple CEO Brad Garlinghouse is strutting around with the confidence of a cat that just caught a laser pointer. He believes XRP will be included in the US crypto stockpile, and he’s not shy about it. He even quoted President Trump, who apparently has a thing for crypto reserves. Who knew? 🐱‍👤

“My understanding is there’s going to be a Bitcoin Strategic Reserve, there’ll be a crypto stockpile representing other cryptos, and I would expect that will include XRP.”

Garlinghouse is also optimistic about the approval of an XRP ETF, claiming there are 11 different filings pending with the SEC. It’s like waiting for a bus that never seems to arrive. 🚍

“I have immense confidence in the ETF. I think there are 11 different filings pending with the SEC to launch XRP ETFs.”

Institutions: More Crypto, Please!

In a survey that could make any crypto enthusiast giddy, 83% of institutional investors are planning to increase their exposure to digital assets this year. Apparently, they believe cryptocurrencies are the best opportunity for attractive risk-adjusted returns. Who knew? 💰

“An overwhelming majority (83%) of surveyed investors plan to increase their allocations to crypto in 2025, driven by their view that cryptocurrencies represent the best opportunity to generate attractive risk-adjusted returns over the next three years.”

And if that wasn’t enough, 59% of respondents plan to allocate more than 5% of their assets to crypto. It’s like a buffet, and they’re all going back for seconds! 🍽️

Bitcoin (BTC) Price Analysis: The Never-Ending Saga

Bitcoin has lost its sparkle after Wednesday’s rally, dropping over 3% on Thursday. Analysts are divided, with some believing the bull cycle is not over, while others are throwing in the towel. CryptoQuant’s Ki Young Ju has a different take, suggesting that those clinging to outdated playbooks might want to reconsider their strategies. 📉

“The idea that the cycle isn’t over just because on-chain retail activity is absent needs reconsideration.”

BTC had a wild ride last week, jumping 5.50

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2025-03-21 17:15