Bitcoin Nears $90K as U.S. Fed Holds Rates
Bitcoin briefly tested the $90,000 level as the U.S. Federal Reserve decided to maintain interest rates, keeping markets steady. Investors had speculated on a potential rate hike, but the Fed’s decision reassured them, driving renewed interest in BTC. However, analysts caution that ongoing economic factors, including inflation and global market volatility, could still impact Bitcoin’s momentum. Despite the uncertainty, institutional demand for Bitcoin remains strong. (Yahoo Finance)
First Solana ETFs Begin U.S. Trading
The first Solana-based ETFs in the U.S. officially launched for trading on March 20, marking a milestone for institutional access to SOL. These ETFs aim to provide exposure to Solana without requiring direct asset custody, following the model of recent Bitcoin and Ethereum ETFs. The move reflects growing institutional interest in alternative blockchain networks beyond Bitcoin and Ethereum. Market analysts expect Solana’s adoption to rise further if ETF demand remains strong. (CryptoSlate)
South Korea Excludes Bitcoin From Strategic Reserves
South Korea has reportedly decided not to include Bitcoin in its sovereign wealth or strategic reserves, despite ongoing discussions. Government officials cited concerns over volatility and regulatory challenges as reasons for the exclusion. This move signals a cautious stance by South Korea, even as other countries explore Bitcoin adoption. The decision comes as institutional crypto investment grows in the region. (CoinDesk)
Memecoin Index Crashes 90% Amid Market Retreat
The memecoin market suffered a major downturn, with an index tracking top tokens plunging 90% from recent highs. The decline follows a broader crypto market correction, with investors shifting away from high-risk speculative assets. Coins like Dogecoin and Shiba Inu saw significant losses, leading traders to question the sustainability of past gains. Analysts warn that memecoin volatility is likely to persist as market sentiment remains shaky. (The Block)
MicroStrategy Launches New Bitcoin Investment Tool
MicroStrategy has introduced a new financial instrument to facilitate further Bitcoin purchases, reinforcing its aggressive accumulation strategy. The tool, reportedly designed to attract institutional investors, aims to streamline exposure to BTC without direct holdings. With its Bitcoin reserves nearing 500,000 BTC, MicroStrategy continues to be one of the largest corporate holders of the asset. CEO Michael Saylor remains bullish on Bitcoin’s long-term potential. (WSJ)
Bitcoin Flat as Bank of Japan Holds Rates
Bitcoin remained relatively unchanged after the Bank of Japan (BOJ) decided to maintain its ultra-loose monetary policy. The BOJ’s decision to keep interest rates steady contrasts with the tightening measures of other major central banks. While this move impacts traditional markets, Bitcoin traders are watching for signs of increased yen-based crypto investment. Market participants are also assessing how long Japan can sustain its dovish stance. (CoinDesk)
