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- BlackRock’s $107.9 million BTC purchase signals growing institutional crypto demand, providing long-term bullish sentiment.
- XRP, buoyed by its legal win over the SEC, remains a focus, while Solana (SOL) presents a potential buying opportunity for traders as network activity remains robust.
The crypto market is facing a minor correction, with Bitcoin (BTC) momentarily retreating from its recent high of $88,000 back to the $86,000 territory. The total market capitalization has decreased by about 4% over the past 24 hours, currently sitting at around $2.9 trillion. The recent resistance levels faced in the market suggest that there could be a consolidation period in the near future.
Recent positive news in the sector temporarily spurred a recovery. Among the major market optimists was BlackRock’s recent purchase of BTC valued at $107.9 million, reflecting increasing institutional demand. Furthermore, the U.S. Securities and Exchange Commission (SEC) withdrew its case against Ripple and issued a series of crypto-related talks. This has further boosted XRP investors’ confidence.
As the first quarter of 2025 comes to a close, market trends are indicating that some digital assets may see increasing activity. The following three cryptocurrencies are worth watching this weekend.
Bitcoin (BTC) Institutional Interest On The Rise
Since it is the flagship crypto, BTC has a major influence on market direction. The recent participation of large financial institutions, including BlackRock, indicates a likely increase in institutional investment. These actions could influence further price shifts in the next few days. If BTC sees new buying demand, it could take the market into another positive wave.
At press time, Bitcoin price dropped 2.54% to $84,358.58 on Friday, March 28. According to Coinglass data, the BTC futures open interest plunged 2.07% to $55.77 billion in the last 24 hours. With the derivatives market awakening, a rebound seems difficult in the short-term, as mentioned in our previous story. However, owing to strong fundamentals and increasing institutional investments, BTC price is expected to bounce back in the long run.
Ripple’s XRP Shows Strong Momentum
XRP has demonstrated incredible resilience in the last few months. The crypto spiked above $3 earlier this year, reaching its highest level in almost seven years. The legal win over the SEC has boosted investor confidence, and XRP continues to remain in the limelight, as highlighted in our previous story.
Market participants could keep on piling up the asset, which could result in higher inflows of capital in the near term. Nonetheless, XRP price is currently struggling at $2.19, down by 5.80%.
Solana (SOL) Available At Discounted Levels
Solana has received a major price correction since its peak in January. As of writing, SOL price dipped 5.65% to $129.88 today. The drop has placed the asset at a price level that may welcome new investors. With its prevalence in the crypto space and steadfast network activity, Solana is still a major favorite among traders. If market conditions normalize, SOL may recover in the coming sessions.
