Giants stirring
What's being bought and sold*
TOP TRENDING ASSETS
*Trading activity in the past 24 hours on the Uphold platform, as of 8 a.m. 25th March 2025.
The combined total of buy and sell percentages can exceed 100% due to customers who engage in both buying and selling the same asset within the 24-hour time frame.
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What’s up
BTC Whales Spotted Splashing About
Markets switched into rally mode on Monday with stocks and cryptos shooting higher on reports the White House is softening its tariff policies set to go into effect next week.
Bitcoin trekked toward $89,000 as momentum returned to the side of so-called risk assets, like tech stocks and cryptos. Besides a more palatable macro environment being envisioned, there came another significant catalyst: a massive whale wallet (in possession of 15,000 BTCs worth more than $1B) snapped up 2,400 more coins (worth $200M), per Arkham Intelligence.
Meanwhile, over the weekend, yet another BTC whale woke up after eight years of slumber, moving some $250 million worth of BTC via a single transaction over the weekend.
BTC has gained 6% over the past week. It's travelled sideways over the past one day.
Looking at the 100 largest digital assets over the past day, it's clearly Cronos (CRO) that has turned in the most outsized spike. The token is connected with a popular crypto trading platform with a broker-dealer subsidiary that is reportedly partnering with Trump Media to launch a series of funds later this year.
Cointelegraph reports that in the wake of the Trump/Cronos news, the Cronos blockchain's governance structure has come under fire for its recent decision to reissue 70 billion CROs (representing 70% of supply) that had been removed from circulation back in 2021.
What's down
Pi Is Falling
Bitcoin was rallying to start a new week but macro tailwinds have subsided. As of 7:50 a.m. (EST), the largest crypto was roughly $87,500, having flatlined over the past 24 hours. BTC reached as high as $88.7K at one point yesterday as buy signals stacked up.
Total crypto assets fell 2% to roughly $2.96 trillion, according to CoinGecko.
Among the Big Ten cadre, Solana (SOL) lags most. SOL being roughly $142 reflects a decrease of 1.1% in 24 hours. SOL is +15% in the past week.
Looking at the Top 30, only one coin, No. 27 Pi Network (PI), a project connected with mobile-phone-based mining, is experiencing duress. PI is down 18% since last Tuesday morning, per CoinGecko.
What's next
Hash Rate Signal Flashes Green
A well-regarded buy/sell indicator known as Hash Ribbon, which uses on-chain data to track Bitcoin hash rate, a measure of intrinsic value, has flipped into bullish territory for the first time in eight months.
Developed by Capriole Investments, the long-term-view-focused HR signal is rooted in the basic premise that the most authentic sentiment gauge available to investors can be found in the levels of computational power that BTC miners are willing to commit to the Bitcoin network.
When the total BTC hash rate sinks, it "shows that miners are leaving the network," as a quant trader, Charles Edwards, has explained in past blog posts.
Hash rate declines can follow price declines. The cost of electricity also factors into this equation. It's been observed in the past, Edwards said, that when BTC price bottoms out, hash rates soon embark on an upward march. Charting hash rate bottoms can be done via a simple moving average (SMA); when the daily hash rate breaks through the 50-day average to the upside, having been below it for at least 3 days, that's a bullish signal.
According to data from TradingView, the HR put in its latest buy signal (on a daily and weekly basis) just yesterday. “This is macro bullish,” crowed Titan of Crypto in a post on X.
"Bitcoin miners look set to make a comeback," Cointelegraph said.
