Bitcoin at 61.38% Dominance, Ethereum Dips Near $1,835, and XRP Corrects by 40%

The global crypto market shows mixed signals with a market cap of $2.69T and a 1.33% day-over-day increase, while volume surges by 44.63% to $77.63B, heavily driven by stablecoin activity. Amid macroeconomic concerns and regulatory developments, Bitcoin remains dominant at 61.38%, Ethereum faces significant downward pressure, and XRP experiences a 40% correction from its multi-year highs.

• Total crypto volume increased 44.63% in 24 hours, with stablecoins comprising over 95% of this volume.

• Bitcoin’s dominance now stands at 61.38%, bolstered by institutional moves and strategic corporate buys.

• Global economic challenges and evolving US tariff policies are influencing investor sentiment and digital asset adoption.

• Ethereum sees both innovation with Privacy Pools and significant price pressure, with predictions suggesting potential further decline before a rebound.

• XRP, after a sharp rally, has corrected by 40% and is showing technical signs of bearish momentum, hinting at further downside risks.

The global crypto landscape is experiencing cautious optimism as the market cap reaches $2.69 trillion—a 1.33% increase from the previous day. The total crypto market volume has surged to $77.63 billion in the last 24 hours, reflecting a 44.63% jump. 

Crypto Fear and Greed Index | Source: Alternative.me

Notably, stablecoins contribute 95.91% of this volume, indicating a preference for lower-risk assets amid market uncertainty. The current market sentiment, as measured by the Fear and Greed Index, remains in the "fear" zone at 34.

Today’s headlines reveal a blend of macroeconomic concerns and bold institutional strategies:

• BlackRock CEO Larry Fink warned that rising US debt could shift investor preferences toward Bitcoin, potentially challenging the US dollar's reserve currency status. Meanwhile, US tariff policies under President Trump are creating uncertainty across crypto markets.

• Donald Trump’s sons have backed a new venture with Hut 8 to launch what is anticipated to be the world’s largest pure-play Bitcoin mining firm, while Michael Saylor’s Strategy made a near $2 billion Bitcoin dip buy to capitalize on market fluctuations.

• The Ethereum-based DeFi protocol SIR.trading suffered a major hack, losing its entire TVL of $355,000, underscoring the ongoing security concerns in the decentralized finance space.

• White House officials have indicated that President Trump will announce reciprocal tariffs on April 2 from the Rose Garden, with no exemption clauses, despite mixed reactions from market watchers. Fed's Williams highlighted that while the impact of these tariffs is still being evaluated, there is no current sign of stagflation, and the economy is expected to continue growing.

• Additional industry highlights include FTX's planned use of $11.4 billion in cash reserves to repay creditors starting May 30, Circle's progress toward an IPO with filings expected by the end of April, and NFT marketplace X2Y2 ceasing operations on April 30.

• Notably, CZ’s donation wallet has burned substantial token volumes, while BlackRock’s CEO underscored asset tokenization as the most disruptive financial innovation since ETFs.

Crypto market over the past month | Source: Coinmarketcap

• Bitcoin Market Dynamics Amid Trade Tensions: Bitcoin experienced a 5% monthly decline, driven largely by volatile shifts in US tariff policies amid an ongoing trade war. Despite the downturn, Bitcoin’s market resilience remains notable as it navigates macroeconomic pressures.

• Decline in Decentralized Exchange Volumes: Decentralized exchange (DEX) volumes saw a dramatic contraction, particularly on platforms like Solana, where trading volumes fell from billions to just hundreds of millions. This reduction highlights the broader market's sensitivity to regulatory and economic uncertainties.

• Persistent Vulnerabilities in DeFi Security: The DeFi sector continued to face security challenges, with approximately $22 million lost in hacks throughout the month. These breaches underscore the ongoing risk associated with smart contract vulnerabilities and the need for improved security protocols.

• Steady Venture Capital Confidence Amid Volatility: In spite of market turbulence, venture capital investments in blockchain projects remained robust, with multiple eight-figure funding rounds signaling continued faith in the long-term potential of blockchain innovation. This funding activity illustrates that, while short-term market conditions are volatile, institutional confidence in the future of the sector endures.

Michael Saylor’s Strategy buys the dip, acquires more BTC | Source: SaylorTracker

Bitcoin continues to be the cornerstone of the cryptocurrency market, reinforcing its status as the leading digital asset. Its market dominance has inched up to 61.38%, buoyed by significant institutional investments. 

Michael Saylor’s Strategy recently acquired 22,048 BTC for roughly $1.92 billion—a move that highlights the strategic positioning of institutional players who are increasingly viewing Bitcoin as a hedge against economic uncertainty. Larry Fink’s recent comments have fueled discussions about Bitcoin’s potential to supplant the US dollar as the global reserve asset, especially in the context of rising national debt and a turbulent macroeconomic landscape. 

Additionally, the new venture launched by Trump’s sons, in collaboration with Hut 8 Mining, is set to revolutionize Bitcoin mining by establishing a highly efficient, pure-play mining operation designed for scalability and cost-effectiveness.

Source: Vitalik Buterin on X

Ethereum is navigating a challenging landscape defined by both innovation and significant market pressure. Trading at around $1,835, Ether has seen its price nearly halved since the bullish endorsements from figures such as Eric Trump, with technical indicators hinting at a possible decline below $1,500 in the near term. 

Despite these downward pressures, Ethereum remains at the forefront of blockchain innovation with the launch of Privacy Pools. This new feature, which has received backing from Ethereum co-founder Vitalik Buterin, aims to facilitate semi-permissionless private transactions while ensuring regulatory compliance. 

Nevertheless, the market sentiment remains bearish, as recent on-chain hacks and the broader uncertainty created by US tariff policies continue to weigh heavily on Ethereum's price performance.

XRP OI-weighted funding rate | Source: CoinGlass

XRP stands out as one of the most volatile altcoins in the market, having experienced a dramatic correction after a significant rally. Once approaching a multi-year high of $3.40, XRP has now corrected by approximately 40% and is trading around $2.10. Technical analysis and sentiment data from futures and margin markets indicate a bearish trend, with the negative funding rate of -0.14% per eight hours underscoring weak investor confidence. 

Despite receiving regulatory clarity from the SEC regarding its $1.3 billion securities offering case, XRP’s price action suggests that market participants remain cautious. Historical patterns of XRP, marked by similar corrections, hint that further downside may be on the horizon if bullish sentiment does not eventually reassert itself.

March 2025 has proven to be a pivotal month for the cryptocurrency market, marked by significant economic and regulatory developments as well as bold institutional moves. Bitcoin’s dominance continues to solidify its role as the market leader, with significant investments and new mining ventures signaling robust institutional confidence. 

Ethereum, while at the forefront of blockchain innovation with its Privacy Pools, faces ongoing challenges from price volatility and market uncertainty. Meanwhile, XRP’s sharp correction reflects broader market hesitations that may persist until investor sentiment improves. As macroeconomic factors such as impending US tariffs and evolving compliance standards take center stage, the coming weeks are expected to further shape the digital asset landscape, offering both opportunities and challenges for investors.

Read more: Bitcoin Faces $90K Resistance as GameStop and Sei Foundation Drive Market Shifts in a $2.85T Crypto Market