TL;DR
- Shiba Inu (SHIB): Gains 3% as Binance top traders aggressively open fresh long positions.
- Ripple (XRP): Ripple Treasury VP Renaat Ver Eecke signals a “big unlock” via an Australian license.
- Bitcoin (BTC): A dormant whale awakens after two years to accumulate 343 BTC ($23.85 million).
- Market outlook: Focus shifts to U.S. GDP data and the March 19 FOMC meeting.
Binance top traders push Shiba Inu (SHIB) price with fresh longs
The price of the popular meme cryptocurrency Shiba Inu (SHIB) is adding more than 3% today. It is already trading around $0.000006 cents per token. For comparison, the flagship cryptocurrency, Bitcoin, is showing growth of only 0.36% in parallel.
So far, there is a fundamental reason for such outperformance from SHIB. In this case, attention can be drawn to the balance of power on the derivatives market of the world’s largest crypto exchange, Binance, as statistics there show that right now, 57.5% of all top-trader accounts hold long positions in SHIB. This indicator has already increased by 4% over the past two days.
Shiba Inu (SHIB) Price Rises as 58% of Binance Top Traders Go Long, Ripple Treasury Vice President Highlights ‘Big Unlock,’ Bitcoin Whale Buys More After Two Years of Dormancy: Morning Crypto Report
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The reason may lie in the token’s oversold condition. Despite the fact that the relative strength index of the meme cryptocurrency is at the 50 mark, which is considered a neutral value, since the beginning of 2024, the token has already lost almost 40% in price, and over the past week, it has managed to recover more than 11.5% of that decline.
SHIB often acts as a proxy bet on the crypto market. It is possible that Binance traders are trying to maximize the relief rally taking place on the market and are using a liquid-yet-oversold asset such as SHIB for this purpose.
Ripple Treasury VP points to “big unlock” in Australia
While SHIB is storming new levels on the price chart from another, more utilitarian side of the crypto market, particularly in areas connected with XRP and RLUSD, a “big unlock” is taking place.
As Senior Vice President of Ripple Treasury Renaat Ver Eecke described it, reacting to the news that Ripple plans to obtain a financial license in Australia through the acquisition of the payments firm BC Payments Australia, trust is the most important asset in the treasury space of the crypto industry right now.
He stated that this is exactly what the company can bring to Australia and beyond. In his view, this is a big unlock for Ripple Treasury, and the license will allow the San Francisco company to scale its payments business in the country and conduct the full transaction cycle, from compliance and funding to final payouts.
According to reports, the deal is expected to close as early as April 1.
Dormant Bitcoin whale awakens after two years and buys hundreds of BTC
Another notable story of the morning on the crypto market was the unexpected awakening of a wallet that had been dormant for two years. According to on-chain data, including Arkham, this is a relatively large Bitcoin player compared with a typical retail buyer.
In 2024, this whale withdrew several million dollars worth of BTC from OKX. The holder disposed of those coins at around the same period. This time, however, as Lookonchain reports, the ambitions appear larger. The whale withdrew 343 BTC, equivalent to about $23.85 million, from Binance and another crypto platform. All of this was done within two hours.
It is interesting what prompted the whale to wake up now and start accumulating Bitcoin in volumes that were not seen from this entity in 2024, when the price of Bitcoin was in the midst of what can now be called a bull market. The cryptocurrency itself is stable above $70,000. The main macroeconomic factors that could have influenced it this week have already played out. These included CPI data, which came broadly in line with expectations at 2.4% yearly inflation.
Wallet 37ije2 Activity in the Last 2 Years, Source: ArkhamThe market digested this news, and the next day Bitcoin’s price, along with the broader crypto market, showed growth. Yes, it is moderate, but as already noted, Shiba Inu is rising at a faster pace. It remains to be seen how quickly the whale will dispose of these Bitcoins. This time, however, the fact that the wallet has already entered the market to acquire them is quite interesting.
During prolonged corrections and what many call crypto winters, large Bitcoin players have typically entered the market to sell their assets. Whether this shift toward accumulation will become a broader trend or remain an isolated decision by a single whale will become clear in the coming days, ahead of the next major event — the rhetoric of the Federal Reserve and the FOMC meeting.
Crypto Market Outlook: Bitcoin and crypto eye March 19 as next big thing
The crypto market remains under pressure, which is not surprising given the global backdrop and turbulence in the U.S. economy. However, as seen in Thursday’s price action, crypto market participants are currently trying to push prices higher by opening long positions on derivatives. For a full-fledged rally, stronger support from spot buying is still missing, yet expecting this in the current environment may be too generous.
Among major reports, preliminary U.S. GDP data for the fourth quarter of 2025 will be revealed tomorrow on Friday, March 13. In addition, the Michigan Consumer Sentiment index will be published. This is an important indicator that often remains in the shadows but is perceived by large institutional players as one of the key gauges of retail buy power.
All of this directly affects risk appetite on the market. A weaker consumer sentiment reading could become an additional argument in favor of potential rate cuts by the Federal Reserve on March 19.
However, as already mentioned, the main event, CPI, has effectively passed, and the market is now digesting it while building both short and long positioning ahead of the FOMC meeting.
Source: https://u.today/shiba-inu-shib-price-rises-as-58-of-binance-top-traders-go-long-ripple-treasury-vice-president
