Flipster Crypto Weekly (March 14)

March 14, 2025

BTC’s attempt at recovery earlier this week was cut short when Bybit hackers offloaded $300m of stolen funds, triggering a liquidity-driven selloff that pushed BTC and ETH to key support levels. Traders rushed to hedge, keeping BTC capped below $86k. Meanwhile, Trump’s Strategic Bitcoin Reserve narrative lost momentum, and escalating US tensions continued to impact markets. 

Crypto markets reacted cautiously to better-than-expected inflation data last night, with CPI at 2.8% (vs. 2.9% expected), and core inflation at a three-year low of 3.1%. The PPI decline of 0.1% reinforced easing price pressures, but traders remained hesitant, awaiting the FOMC meeting for clarity on the Fed’s rate cut trajectory. With macro risk still high and BTC in range-bound trade, volatility looks set to continue.

Bitcoin (BTC)

Weekly performance: -8.78%

Year-to-date (YTD) performance: -12.12%

Bitcoin (BTC) has fallen below its 200-day moving average (MA), a key indicator traders use to assess long-term trends. This marks the first time BTC has traded below this level since October, signaling potential weakness in market sentiment. If BTC fails to reclaim this level soon, further downside could follow as traders adjust their positions. However, a swift recovery above the 200-day MA may indicate renewed strength and set the stage for a potential rebound.

Ethereum (ETH)

Weekly performance: -13.94%

Year-to-date (YTD) performance: -43.07%

Ethereum (ETH) dropped below the key $2,100 support level on Sunday, as highlighted in last week’s Flipster Crypto Weekly. This decline has put long positions opened since November 2023 at a loss. Over the past three sessions, ETH has traded sideways with reduced volatility, indicating consolidation. Given the prevailing downtrend, a breakout in volatility is more likely to result in further downside movement.

Solana (SOL)

Weekly performance: -12.69%

Year-to-date (YTD) performance: -33.91%

Solana (SOL) closed below the $126 support level on Monday for the first time since September 2024. Although prices briefly reclaimed the level during intraday sessions throughout the week, they failed to hold above it by the close. This suggests strong overhead supply, with the former support now acting as resistance.

Pepe (PEPE)

After reaching its intraday lows on Tuesday, PEPE has surged more than 26% as of this writing, marking its strongest rally since the downtrend began in December. While this could just be a countertrend bounce, the sharp rebound suggests short covering and renewed buying interest. If PEPE can sustain closes above Tuesday’s lows and break above Thursday’s highs, it may signal a potential reversal of the ongoing downtrend.

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