Multichain priceMULTI

$ETH multi-year iH&S forming...🐃 reminds me of the multi-year bullish triangle of $BTC last cycle

Riot Platforms’ research head Pierre Rochard has asserted that XRP is not a security despite many critics of the controversial Ripple-promoted coin claiming it is. Rochard, a longtime critic of Ripple, argues that XRP cannot be classified as a security because the San Francisco-based blockchain payments startup does not actually owe investors “utility or anything else.” “They are free to dump on you and you have no right to do anything about it other than join them in dumping XRP. That’s why XRP is not a security,” he opined. Responding to an X user, the mining exec noted that many “worthless” and “harmful” products do not qualify as securities. In July 2023, Judge Analisa Torres granted Ripple a partial victory after declaring in her summary judgement that secondary sales of the Ripple-linked token were not securities. Last Sunday, President Trump said he expects payments-focused XRP to be a part of the strategic digital assets reserve with other cryptocurrencies. Critics argue against XRP as a reserve asset by pointing out that it lacks the real-world presence and the decentralization of Bitcoin or Ethereum. Moreover, the Chicago Mercantile Exchange (CME) Group has not yet announced plans to list XRP futures, which is probably why skeptics are against the coin’s inclusion in the national reserve. Notably, the U.S. Securities and Exchange Commission (SEC) had approved ETFs investing in the CME-regulated BTC and ETH futures before greenlighting the spot BTC and ETH ETFs last year, trusting the exchange’s monitoring system to tackle potential price manipulation. In January, Rochard lambasted Ripple as the biggest obstacle to a Bitcoin-only strategic reserve since the company was aggressively lobbying against it. However, Ripple boss Brad Garlinghouse claimed that the company’s efforts were actually boosting the likelihood of a reserve that includes Bitcoin. The CEO has long advocated for a multi-asset US crypto reserve similar to the one announced by Trump on March 2. SEC Is Challenging XRP’s Classification Meanwhile, some believe including XRP in the reserve signals the imminent conclusion of the U.S. Securities and Exchange Commission’s ongoing enforcement lawsuit against Ripple. The SEC formally filed its appeal-related opening brief on January 15, challenging the court’s previous ruling on the programmatic XRP sales. Since pro-crypto Commissioner Mark Uyeda took over as acting Chair after former SEC Chair Gary Gensler’s exit, speculation has grown over a possible resolution of the Ripple case.

Shiba Inu (SHIB) , once considered one of the most promising meme coins, is now facing intense selling pressure and a prolonged downtrend. After hitting impressive highs, SHIB has gradually lost momentum, slipping into a bearish phase. Currently trading at $0.00001215, SHIB price is struggling to maintain key support levels, raising concerns among investors. With the market sentiment turning negative, many are asking: Will Shiba Inu price crash to zero , or is a major recovery still possible? Let's analyze SHIB’s technical indicators, support zones, and potential breakout scenarios to determine whether the meme coin can still stage a comeback. SHIB’s price action suggests that it has entered a strong bearish cycle, with consecutive lower highs and lower lows on the daily chart. Since peaking at $0.000032, SHIB has steadily lost ground, now hovering near multi-month lows. The consistent downtrend structure signals that buyers are not stepping in with enough volume, allowing sellers to dominate. If this trend continues, SHIB could face even steeper declines, increasing the risk of a long-term downtrend. A crucial factor to watch is Shiba Inu’s Relative Strength Index (RSI), which indicates whether an asset is overbought or oversold. Although an oversold RSI increases the probability of a short-term rally, it does not guarantee a long-term recovery, especially if the broader market remains bearish. The Moving Average Convergence Divergence (MACD) indicator helps assess momentum strength and trend direction. For a bullish trend reversal, SHIB’s MACD line must cross above the signal line, which has not happened yet. Until this occurs, the bearish trend is expected to continue. Shiba Inu is now at a make-or-break level, with critical support zones being tested. At present, SHIB price is closer to breaking support than attempting a recovery, suggesting that further downside is more likely unless buyers step in with significant volume. The biggest concern for investors is whether SHIB will continue falling or manage to stage a comeback. Shiba Inu is at a critical decision point . If it fails to hold $0.00001200, a major crash could occur, taking it down another 20-30%. The RSI suggests a possible bounce, but with a weak MACD and bearish price structure, SHIB’s downtrend remains intact. For short-term traders, buying at key support zones could offer quick gains if a relief rally happens. However, for long-term holders, it is crucial to wait for bullish confirmations, such as MACD crossovers and higher highs, before expecting a sustained uptrend. If Shiba Inu does not show strong bullish momentum soon, its price could continue bleeding downward—potentially toward zero in the worst-case scenario.

A wave of sell-offs has gripped the crypto market, dragging prices lower as macroeconomic uncertainty spooked traders on March 10. The downturn followed comments from U.S. President Donald Trump in a March 8 Fox News interview, where he acknowledged that his economic policies could result in temporary economic pain. His dovish statements on budget cuts and trade tariffs raised concerns about increased market volatility, prompting investors to move away from risk assets like cryptocurrencies. Bitcoin ( BTC ) has fallen 10% over the past week, erasing most of its recent gains. It is currently trading at $82,574, down nearly 4% in the last 24 hours, approaching its 2025 low of $78,000. The broader crypto market declined 7%, bringing its total valuation to $2.8 trillion. Altcoins also suffered significant losses. Over the past 24 hours, Solana ( SOL ) dropped 8%, XRP ( XRP ) declined 6%, and Ethereum ( ETH ) fell 5%, struggling to stay above $2,000. Cardano ( ADA ) and Dogecoin ( DOGE ) declined by nearly 8% and 9%, respectively. The market slump triggered $620 million in liquidations, with long positions bearing the brunt at $527 million. Bitcoin alone accounted for $241 million in losses. Major U.S. tech stocks have also suffered significant losses. Over the past five days, Nvidia (NVDA) dropped 8.7%, Tesla (TSLA) plunged 12.5%, and Meta (META) declined 7.17%. The S&P 500 fell 3.3% as of Monday morning, reflecting broader investor concerns. Meanwhile, Bitcoin futures on the Chicago Mercantile Exchange opened at $82,110 on March 10, down $4,320 from the previous day’s close of $86,430, marking the second-largest single-day decline in CME Bitcoin futures this month. Trump’s remarks came ahead of rising trade tensions between the U.S. and China, with Beijing set to impose new tariffs on U.S. agricultural goods in response to the latest round of U.S. import hikes. On March 4, 2025, China announced retaliatory tariffs on U.S. agricultural products set to take effect on March 10. With the implementation now underway, fears of escalating trade tensions have further weighed on investor sentiment. Further, Trump’s Bitcoin reserve announcement last week fell short of expectations. The absence of direct buying provisions disappointed traders who had anticipated stronger institutional support. Currently, traders are watching key economic data this week, including the U.S. Consumer Price Index on March 12 and the Producer Price Index on March 13, which could influence the market’s short-term trajectory. As previously reported by crypto.news, BitMEX co-founder Arthur Hayes believes Bitcoin could correct to multi-month lows of $76,000. Recently, trader Captain Faibik pointed out that Bitcoin’s price is stuck in an ascending wedge pattern. If it breaks above this formation, it could rally to $120K. However, if it drops below the pattern’s lower boundary, he warned that Bitcoin could slide further to $50K–$55K in the midterm.

Spanish bank BBVA receives approval to offer BTC and ETH trading Banco Bilbao Vizcaya Argentaria (BBVA), a Spanish multinational financial services company, has secured regulatory approval in Spain to provide its clients with Bitcoin $BTC and Ethereum $ETH trading services, according to CoinDesk, citing a Reuters report. This authorization aligns with the full implementation of the Markets in Crypto-Assets (MiCA) regulations throughout the European Union (EU), marking the culmination of BBVA’s multi-year initiative to offer digital asset trading to its customers.