Franklin surged 210.37% after launching Alpha, current price is 0.0068672 USDT

Crypto Sector Holds Steady Amid Neutral Sentiment

The crypto market shows mixed results with a $2.54T cap, as Bitcoin dips 0.13% and Ethereum rises 0.61%. Notable gainers include $TRUMP, $IDOS, and $MAGA. DeFi and NFT markets also see significant activity, while regulatory developments emerge from the SEC and CFTC.

Bitcoin and Gold Correlation Coefficient Drops to -0.88, Reaching Lowest Level Since November 2022

Gate News reports that on March 18, CryptoQuant data showed the correlation coefficient between Bitcoin and gold dropped to -0.88, hitting a new low since November 2022. The data indicates a strong negative correlation between the two, with Bitcoin's price rising to $74,000 while gold experienced a slight decline.

XRP Begins Era as Commodity Under US Laws, Stuart Alderoty Reacts - U.Today

Stuart Alderoty, Ripple's CLO, welcomes the SEC's reclassification of XRP as a commodity, suggesting it could enhance adoption and ease exchange listings. Despite a recent price drop, XRP remains above key support levels, although trading volume has significantly decreased.

QCP: BTC Oscillates Near $74,000; Multi-Country Central Bank Rate Decisions Key This Week

QCP Capital analysis indicates that BTC price is maintaining around $74,000, with a lack of upward momentum. Although the overall crypto market remains under pressure, the declines are relatively controlled. Central bank policy meetings throughout the year will influence the market, as high oil prices have lowered expectations for rate cuts, and the interest rate environment has weakened support for crypto assets. Until policy and geopolitical situations become clearer, a volatile pattern may continue.

Analyst: The overheated bubble of Bitcoin (BTC) has been absorbed, but selling pressure still remains.

On-chain analyst Axel's research report indicates that the Bitcoin market has returned to a neutral range, but overall remains in a loss state with unrelenting selling pressure. The MVRV Z-Score shows that valuation bubbles have dissipated; however, aSOPR has remained below 1.0 for 55 consecutive days, indicating sustained selling pressure. Axel emphasizes that the key to the market lies in whether selling pressure will be exhausted, requiring observation of whether aSOPR can stabilize above 1.0.

Citigroup Slashes Bitcoin and Ethereum 12-Month Price Targets, Citing Stalled U.S. Crypto Legislation Weighing on Upside Catalysts

Citigroup has lowered its 12-month price targets for Bitcoin and Ethereum, signaling a shift toward caution on the cryptocurrency market's medium-term outlook, primarily due to slow progress in U.S. crypto asset legislation. Bitcoin's target was reduced from $143,000 to $112,000, while Ethereum's fell to $3,175. Despite upside potential remaining in the future, the lack of new policy catalysts suggests prices may oscillate within a range in the near term. Citigroup's assessment of Ethereum is more cautious, as it believes the asset is more significantly impacted by on-chain activity.