Bitcoin for America by the Bitcoin Policy Institute | Washington, D.C. | March 11, 2025Bringing together leading policymakers, business leaders, researchers &#8230;

The United States Must Embrace Bitcoin Now: A Recap Of Bitcoin For America

Bitcoin&#8217;s price was up 3% after constant drawdowns since the end of January. 
The top cryptocurrency managed to rebound above $80,000 after a brief decline 
below the range on March 11.
_Bitcoin weekly chart. Source: Cointelegraph/TradingView_
After the US core Consumer Price Index (CPI) came in lower than expected at 
3.1% on March 12, Bitcoin&#8217;s market structure now sees the possibility of a 
quick bullish turnaround.
## Bitcoin liquidity clusters at $84K-$85K
After Bitcoin&#8217;s (BTC) price tumbled on March 9, it rebounded to test the 
overhead resistance zone between $84,000 and $85,000 three times, spurring 
traders to aggressively build short positions in this range.
The liquidation heatmap data suggested that more than $300 million in short 
positions were piled in this price region, which would be liquidated if the 
price moved above the $85,000 resistance.
_Bitcoin 1-week liquidation heatmap. Source: CoinGlass_
With a lack of downside liquidity below $77,000, the probability of BTC moving 
toward upside liquidity increased. Moreover, triggering liquidations above 
$85,000 could fuel further bullish momentum, allowing Bitcoin to form a higher 
high and turn this level into new support.
A CME Bitcoin futures gap from the previous weekend also remained unfilled 
between $85,000 and $86,000. With a 100% record of six gaps filled in the past 
four months, this setup further increased the chances of flipping the overhead 
resistance into support at $85,000.
_Bitcoin 4-hour chart. Source: Cointelegraph/TradingView_
If this happens, the next major resistance lies at $90,000, which could 
liquidate over $1.6 billion in short positions for a retest of the $95,000 
resistance level above, i.e., a 12% jump from the current price.
_**Related: Bitcoin must secure weekly close above $89K to confirm bottom has 
passed**_
Bitcoin analyst Mark Cullen underlined a similar outlook for Bitcoin but 
warned that the price continues to move &#8220;correctively,&#8221; implying further 
sideways movement before a short squeeze.
On the contrary, Valeria, a crypto analyst and funded trader, said that BTC 
was showing signs of distribution near the $85,000 range, which is short-term 
bearish. The trader highlighted that the BTC price might thread lower below 
$80,000 before a bullish breakout occurs.
## Coinbase, Binance diverge on orderbook trends
Spot traders on Binance have been aggressively selling over the past few days, 
according to data from Aggr.trade, with selling pressure peaking during the 
local lows at $76,650.
Conversely, Coinbase spot buyers placed bids here, leading to BTC&#8217;s rebound 
above $80,000.
_Binance, Coinbase orderbooks. Source: Aggr.trade_
On March 12, a similar discrepancy was observed, with Binance spot traders 
selling near the $85,000 resistance, as Coinbase traders defended the price at 
$81,000 during the early US trading session, avoiding further downside.
_**Related: Crypto trading volume slumps, signaling market exhaustion: 
Analysis**_
While Coinbase has led BTC&#8217;s rally in the past, an opposing stance between the 
two leading exchanges might slow BTC&#8217;s momentum to move swiftly through the 
resistance levels.
Thus, for Bitcoin to reclaim higher highs at $85,000, $90,000 and $95,000 over 
the next couple of weeks, spot trading activity between the two major 
exchanges may need more collective direction.
This article does not contain investment advice or recommendations. Every 
investment and trading move involves risk, and readers should conduct their 
own research when making a decision.

Will Bitcoin price reclaim $95K before the end of March?

Pi Network’s native token PI continued to rally for the second consecutive day 
amid community hype ahead of Pi Day. According to data from crypto.news, Pi 
Network (PI) rose to an intraday high of $1.79 on March 13, nearly 42%…

PI up 13% ahead of Pi Day, can the rally hold?

The Bank of Russia introduced a proposal to allow highly qualified investors 
to purchase and sell crypto under an experimental framework lasting three 
years. Nonetheless, peer-to-peer transactions and payments would still be 
banned under this sandbox. Central Bank of Russia Opens up to Crypto With 
Sandbox Regime Russia is on the verge of opening to […]

Russia Opens to Cryptocurrency: Central Bank Unveils Trading Sandbox Proposal

A new XRP price forecast has emerged, offering insights into the 
cryptocurrency’s next bearish move. A crypto analyst who previously predicted 
XRP‘s crash below $2 has provided a more comprehensive outlook, outlining key 
support and resistance areas that will determine XRP’s next target. According 
to TradingView crypto analyst, ‘MMBTrader,’ the XRP price is set to dump below 
the $2 threshold. As of writing, CoinMarketCap reports that XRP is trading at 
$2.2, reflecting a modest 3% increase in value in the last 24 hours. XRP Price 
Projected To Crash To $1.5 Notably, the cryptocurrency is gradually giving up 
gains, negatively impacted by the broader market downtrend and lack of bullish 
drivers. MMBTrader has shared a technical chart supporting his bearish 
prediction for the XRP price. Related Reading: Pundit Who Correctly Predicted 
XRP Price Crash To $2.5 Says Demand Zone Will Send It Soaring The TradingView 
crypto expert has identified a Head and Shoulder pattern on the XRP daily 
chart, consisting of three peaks: left shoulder, head, and right shoulder. 
Typically, a classic Head and Shoulder pattern is considered one of the most 
common indicators of a potential price breakdown, with the price of a 
cryptocurrency expected to reverse from bullish to bearish. Looking at the 
price chart, a break below the pattern’s neckline around the $1.95 price point 
would confirm XRP’s bearish position. If the cryptocurrency fails to hold the 
$1.95 support level, a sharp drop, possibly up to 50%, is expected. This 
massive crash would effectively place the price around the $1.5 level or even 
as low as $1.2. While he expects a possible crash to $1.5, MMBTrader also 
projects an alternative bullish scenario in which the XRP price initiates a 
strong rebound. The analyst revealed that if the cryptocurrency consolidates 
near $2 without breaking lower, then a bounce to new highs could follow. 
Additionally, the TradingView expert believes that the asset could also 
experience a significant rally toward $5 after its projected 50% price crash. 
He highlights that if XRP can hold the support level near $1.5, then a strong 
reversal could occur, potentially triggering a bullish move between $4 and 
$4.5. Whales Scoop Up $385 Million Amid Market Downtrend While XRP experiences 
slow momentum due to the market’s recent decline, whales are seizing the 
opportunity to buy the dip, accumulating a significant amount of the token. 
According to crypto analyst Brett, an XRP whale has executed a large-scale 
transaction, buying over 167 million XRP, valued at $368.4 million, in a 
single purchase. Related Reading: XRP Price Pump To $3.35 On The Horizon With 
Bullish Cup And Handle Pattern Formation Brett revealed that this whale 
purchase was made as the market panicked over increasing volatility and price 
declines. Over the past few weeks, XRP has struggled to recover from bearish 
trends, joining the ranks of top cryptocurrencies like Bitcoin and Ethereum, 
which recorded a major price crash earlier in February. CoinMarketCap’s data 
shows that the the altcoin&#8217;s price has fallen by 11.6% in just one week. This 
decline comes as the broader crypto market faces massive liquidations totaling 
hundreds of millions of dollars. Featured image from Adobe Stock, chart from 
Tradingview.com

This Crypto Analyst Correctly Predicted XRP Price Crash Below $2, Here’s The Rest Of The Forecast

Bybit CEO Ben Zhou commented on a recent $4 million loss suffered by 
decentralized exchange (DEX) Hyperliquid due to an Ether whale&#8217;s high-leverage 
trade, noting that centralized exchanges (CEXs) face similar challenges.
On March 12, a crypto investor walked away with $1.8 million and forced the 
Hyperliquidity Pool (HLP) to bear a $4 million loss after a trade that used 
leverage on the Hyperliquid decentralized exchange (DEX).
The trader used about 50x leverage to turn $10 million into a $270 million 
Ether (ETH) long position. However, the trader couldn&#8217;t exit without tanking 
their own position. Instead, they withdrew collateral, offloading assets 
without triggering a self-inflicted price drop, leaving Hyperliquid to cover 
the losses.
Smart contract auditor Three Sigma said the trade was a &#8220;brutal game of 
liquidity mechanics,&#8221; not a bug or an exploit. Hyperliquid also clarified that 
this was not a protocol exploit or a hack.
_Source:__Hyperliquid_
## Hyperliquid lowers leverage trading for BTC and ETH
In response to the trade, Hyperliquid lowered its Bitcoin (BTC) leverage to 
40x and its ETH leverage allowance to 25x. This increases the maintenance 
margin requirements for larger positions on the DEX. &#8220;This will provide a 
better buffer for backstop liquidations of larger positions,&#8221; Hyperliquid 
stated.
In an X post, the Bybit CEO commented on the trade, saying that CEXs are also 
subjected to the same situation. Zhou said their liquidation engine takes over 
whale positions when they get liquidated. While lowering the leverage may be 
an effective solution, Zhou said this could be bad for business:
&gt; &#8220;I see that HP has already lowered their overall leverage; that&#8217;s one way to 
&gt; do it and probably the most effective one, however, this will hurt business 
&gt; as users would want higher leverage.&#8221;
Zhou suggested a more dynamic risk limit mechanism that reduces the overall 
leverage as the position grows. The executive said that in a centralized 
platform, the whale would go down to a leverage of 1.5x with the huge amount 
of open positions. Despite this, the executive recognized that users could 
still use multiple accounts to achieve the same results.
The Bybit CEO added that even the lowered leverage capabilities could still be 
&#8220;abused&#8221; unless the DEX implements risk management measures such as 
surveillance and monitoring to spot &#8220;market manipulators&#8221; on the same level as 
a CEX.
_**Related:**__**Crypto trader gets sandwich attacked in stablecoin swap, 
loses $215K**_
## Hyperliquid sees $166M net outflow
Following the liquidation event of the ETH whale and the losses the HLP Vault 
suffered, the protocol experienced a massive outflow of its assets under 
management. Dune Analytics data shows that Hyperliquid had a net outflow of 
$166 million on March 12, the same day as the trade.
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