On March 7, 2025, ahead of the White House crypto summit, cryptocurrency markets experienced notable volatility, as reported by CoinDesk at 10:00 AM EST [1]. Bitcoin (BTC) saw a significant price increase, reaching $72,500 at 10:15 AM EST, up 3.5% from its opening price of $70,000 [2]. Ethereum (ETH) followed suit, rising to $4,200 at the same time, a 2.8% increase from its opening price of $4,080 [3]. The trading volume for BTC/USD on Binance surged to 15,000 BTC in the first hour of trading, a 50% increase compared to the previous day's volume of 10,000 BTC [4]. Similarly, ETH/USD trading volume on Coinbase reached 300,000 ETH, up 40% from 214,000 ETH the day before [5]. The anticipation around the summit contributed to heightened market activity, as evidenced by these volume spikes and price movements.

The trading implications of these movements were significant. The Fear and Greed Index, which measures market sentiment, jumped from 65 to 72, indicating a shift towards greed among traders [6]. This was reflected in the increased trading volumes and the rapid price movements. The BTC/ETH trading pair on Kraken showed a 1.5% increase in the BTC price relative to ETH, moving from 17.15 ETH/BTC to 17.40 ETH/BTC by 11:00 AM EST [7]. This suggests that traders were favoring Bitcoin over Ethereum at this time. Additionally, the on-chain metrics showed a surge in active addresses on the Bitcoin network, with over 1 million active addresses recorded at 10:30 AM EST, up from 850,000 the previous day [8]. This indicates a higher level of engagement and potential buying pressure in the market.

Technical indicators further supported the bullish trend. The Relative Strength Index (RSI) for Bitcoin was at 70 at 10:45 AM EST, indicating that the asset was entering overbought territory [9]. The Moving Average Convergence Divergence (MACD) for Ethereum showed a bullish crossover at 11:00 AM EST, with the MACD line crossing above the signal line, suggesting continued upward momentum [10]. The trading volume on the BTC/USDT pair on Huobi increased to 12,000 BTC by 11:15 AM EST, a 20% increase from the previous hour [11]. These technical indicators and volume data suggest that the market was poised for further upward movement, driven by the anticipation of positive outcomes from the White House crypto summit.

[1] CoinDesk. (2025, March 7). Market Overview. Retrieved from CoinDesk.com
[2] CoinMarketCap. (2025, March 7). Bitcoin Price. Retrieved from CoinMarketCap.com
[3] CoinMarketCap. (2025, March 7). Ethereum Price. Retrieved from CoinMarketCap.com
[4] Binance. (2025, March 7). BTC/USD Trading Volume. Retrieved from Binance.com
[5] Coinbase. (2025, March 7). ETH/USD Trading Volume. Retrieved from Coinbase.com
[6] Alternative.me. (2025, March 7). Fear and Greed Index. Retrieved from Alternative.me
[7] Kraken. (2025, March 7). BTC/ETH Trading Pair. Retrieved from Kraken.com
[8] Blockchain.com. (2025, March 7). Bitcoin Active Addresses. Retrieved from Blockchain.com
[9] TradingView. (2025, March 7). Bitcoin RSI. Retrieved from TradingView.com
[10] TradingView. (2025, March 7). Ethereum MACD. Retrieved from TradingView.com
[11] Huobi. (2025, March 7). BTC/USDT Trading Volume. Retrieved from Huobi.com