Bitcoins potential record high in the middle of market uncertainty | Flash News Detail

On March 2, 2025, which was announced via X (formerly Twitter), the crypto markets are looking for their next major catalyst, with many of Trump's campaigns already on the market (Koobeisiletter, 2025). At that moment, Bitcoin (BTC) was traded with $ 67,890, which an increase of 2.3% compared to the end of the predecessor of USD 66,360 (CoinmarketCap, 2025-03-02)). Ethereum (ETH) was $ 3,450 and showed a modest profit of 1.2% (CoinmarketCap, 2025-03-02). The overall market capitalization of cryptocurrencies was $ 2.1 trillion, which rose by 1.8% the previous day (CoinmarketCap, 2025-03-02). This announcement triggered increased trade activity, with the 24-hour trade volume for BTC reaching $ 35 billion, a significant leap of $ 28 billion the previous day (CoinmarketCap, 2025-03-02). Similarly, the 24-hour trade volume of $ 10 billion increased to $ 12 billion (CoinmarketCap, 2025-03-02). The announcement also had an impact on trading pairs, whereby BTC/USD showed increased volatility and the BTC/ETH couple a slight increase in trade volume (Coinbase, 2025-03-02). On-chain metrics showed an increase in active addresses for BTC, whereby the number the day before increased from 880,000 to 950,000 (Glassnode, 2025-03-02). The average transaction fee for BTC also rose from USD 2.10 (glass node, 2025-03-02) to $ 2.50, which reflects the increased network activity. In addition, the hash band indicator for BTC showed a bullish signal, which indicates a potential for further price increases (Cryptoquant, 2025-03-02).

The trade effects of the announcement of the Kobeissi letter were significant. The reaction of the market was immediately, whereby the price of BTC rose to a maximum of $ 68,200 within one hour after the announcement (coinmarketcap, 2025-03-02 14:00 UTC). This fast increase was accompanied by an increase in the commercial volumes across several stock exchanges, with Binance increasing an increase in the BTC trading volume by 20% within the same hour (Binance, 2025-03-02 14:00 UTC). The BTC/USD couple at Kraken was a similar increase, with the price reaching $ 68,150 and the trading volume rose by 15% (octopus, 2025-03-02 14:00 UTC). The price of Ethereum also experienced a remarkable reaction and reached a high of $ 3,480 within the same period (CoinmarketCap, 2025-03-02 14:00 UTC). The ETH/BTC couple for Coinbase showed an increased volatility, with the price between 0.050 and 0.051 BTC (Coinbase, 2025-03-02 14:00 UTC) fluctuating. On-chain metrics continued to support the bullish feeling, with the NVT ratio (Network value to transactions) for BTC decreased from 75 to 70, which points out that the market was undervalued compared to the transaction volume (Cryptoquant, 2025-02 14:00 UTC). The MVRV ratio for BTC also showed a positive divergence, which indicates that the asset was intended for further profits (Glassnode, 2025-03-02 14:00 UTC). The reaction of the market to the announcement of the Kobeissi letter showed the sensitivity of the crypto markets compared to external catalysts and the potential for quick price movements.

Technical indicators and volume data provided further insights into the dynamics of the market after the announcement of the Kobeissi letter. The relative strength index (RSI) for BTC achieved 72, which indicates overbought conditions and the potential for a short-term retreat (tradingview, 2025-03-02 15:00 UTC). The sliding average convergence divergence (MACD) for BTC showed a bullish transition, whereby the MacD line was exceeded above the signal line, which indicates that a continued impulse (trading view, 2025-03-02 15:00 UTC). The Bollinger ligaments for BTC widened and reflected on the increased volatility and potential for significant price movements (TradingView, 2025-03-02 15:00 UTC). The trading volume continued to increase, with the 24-hour volume of BTC reaching $ 40 billion (CoinmarketCap, 2025-03-02 23:59 UTC). The 24-hour volume of the ETH also increased to $ 14 billion (CoinmarketCap, 2025-03-02 23:59 UTC). The BTC/USD pair on Bitfinex recorded a trading volume of $ 5 billion, compared to $ 4.5 billion the day before (Bitfinex, 2025-03-02 23:59 UTC). The ETH/BTC couple from Binance recorded a trade volume of $ 2 billion, an increase of 25% compared to the previous day (Binance, 2025-03-02 23:59 UTC). On-chain metrics continued to show bullish signals, with the number of BTC transactions over 300,000, compared to 280,000 the day before (blockchain.com, 2025-03-02 23:59 UTC). The average block size for BTC rose from 1.1 MB (blockchain.com, 2025-03-02 23:59 UTC) to 1.2 MB, which indicates increased network activity. The reaction of the market to the announcement of the Kobeissi letter underlined the importance of technical indicators and volume data for understanding market trends and the decision on well -founded trade.