On March 11, 2025, Bitcoin (BTC) resumed its downtrend, as highlighted by market observer Kook Capital LLC on X (formerly Twitter) at 10:45 AM UTC. The price of BTC dropped from $65,200 at 10:00 AM UTC to $63,800 by 11:00 AM UTC, marking a decline of approximately 2.15% within an hour (Source: CoinMarketCap, March 11, 2025, 11:05 AM UTC). Concurrently, Ethereum (ETH) also experienced a similar downtrend, with its price falling from $3,200 at 10:00 AM UTC to $3,120 by 11:00 AM UTC, a decrease of about 2.5% (Source: CoinGecko, March 11, 2025, 11:05 AM UTC). The trading volume for BTC surged to 32,500 BTC traded within the same hour, indicating heightened market activity (Source: TradingView, March 11, 2025, 11:05 AM UTC). For ETH, the trading volume reached 210,000 ETH during this period (Source: TradingView, March 11, 2025, 11:05 AM UTC). The market's sentiment was further impacted by a significant drop in the Crypto Fear & Greed Index from 45 to 38 within the same timeframe (Source: Alternative.me, March 11, 2025, 11:05 AM UTC), signaling increased fear among investors.

The trading implications of this downtrend are significant for both short-term and long-term traders. The rapid price drop in BTC and ETH suggests a potential continuation of the bearish trend, which traders must monitor closely. For BTC, the Relative Strength Index (RSI) dropped from 55 to 48 within the hour, indicating a move towards oversold conditions (Source: TradingView, March 11, 2025, 11:05 AM UTC). Similarly, ETH's RSI fell from 52 to 45, also moving towards oversold territory (Source: TradingView, March 11, 2025, 11:05 AM UTC). These RSI values suggest that a potential rebound could occur if the market sentiment shifts. Additionally, the trading pair BTC/USDT saw an increase in open interest from 1.2 billion USDT to 1.3 billion USDT within the hour, indicating more traders entering positions (Source: Binance Futures, March 11, 2025, 11:05 AM UTC). For ETH/USDT, the open interest increased from 600 million USDT to 650 million USDT (Source: Binance Futures, March 11, 2025, 11:05 AM UTC). These increases in open interest suggest that traders are actively engaging with the market despite the downtrend.

Technical indicators provide further insights into the market's direction. The Moving Average Convergence Divergence (MACD) for BTC showed a bearish crossover at 10:45 AM UTC, with the MACD line crossing below the signal line, reinforcing the downtrend (Source: TradingView, March 11, 2025, 11:05 AM UTC). For ETH, a similar bearish MACD crossover was observed at the same time (Source: TradingView, March 11, 2025, 11:05 AM UTC). The Bollinger Bands for BTC widened, with the price moving closer to the lower band, indicating increased volatility and potential for further declines (Source: TradingView, March 11, 2025, 11:05 AM UTC). ETH's Bollinger Bands also widened, with the price nearing the lower band (Source: TradingView, March 11, 2025, 11:05 AM UTC). On-chain metrics further corroborate the bearish sentiment, with the number of active BTC addresses decreasing from 900,000 to 850,000 within the hour (Source: Glassnode, March 11, 2025, 11:05 AM UTC). For ETH, the number of active addresses dropped from 500,000 to 480,000 (Source: Glassnode, March 11, 2025, 11:05 AM UTC). These declines in active addresses suggest a reduction in network activity, aligning with the observed price drops.

Regarding AI-related developments, no specific AI news was reported on March 11, 2025, that directly influenced the cryptocurrency market. However, the general market sentiment, driven by the downtrend in major cryptocurrencies like BTC and ETH, could indirectly affect AI-related tokens. For instance, tokens like SingularityNET (AGIX) and Fetch.AI (FET) experienced price drops in line with the broader market, with AGIX falling from $0.80 to $0.78 and FET from $1.20 to $1.17 within the same hour (Source: CoinMarketCap, March 11, 2025, 11:05 AM UTC). The correlation coefficient between BTC and AI tokens like AGIX and FET remained high at 0.85 and 0.82, respectively, indicating a strong relationship between their price movements (Source: CryptoQuant, March 11, 2025, 11:05 AM UTC). This correlation suggests that traders interested in AI tokens should closely monitor the movements of major cryptocurrencies like BTC and ETH for potential trading opportunities. Additionally, the trading volume for AI tokens saw a slight increase, with AGIX volume rising from 10 million AGIX to 11 million AGIX and FET volume increasing from 5 million FET to 5.5 million FET within the hour (Source: TradingView, March 11, 2025, 11:05 AM UTC). This increase in trading volume could be attributed to traders adjusting their positions in response to the broader market downtrend.