The probability that the Federal Reserve will keep interest rates unchanged in March is 92.1%

SEC Chair Atkins states that the "Crypto Interpretation Order" is just the beginning; the 99% complete stablecoin bill is the key.

SEC Chair Atkins emphasized that the recently released crypto asset interpretive guidance is an important starting point for regulation, with the key next step being congressional legislation. The stablecoin bill is nearing completion, and the market structure bill is also progressing, both of which could improve the regulatory environment. However, administrative interpretations have limited stability, and true binding authority still requires legislation to ensure. Long-term regulation remains uncertain.

Citigroup Slashes Bitcoin Price Target! Legislative Progress Falls Short of Expectations, Policy Tailwinds Unlikely to Materialize in Near Term

Citigroup has lowered its 12-month target prices for Bitcoin and Ethereum mainly due to delays in U.S. cryptocurrency legislation and increased macroeconomic uncertainty, indicating a cautious market attitude toward the medium-term outlook for crypto assets. After the revision, the target price for Bitcoin is now $112,000, and for Ethereum, $3,175. In the short term, the market may trade within a range amid ongoing uncertainty, and regulatory clarity may take longer to emerge.

Macquarie: Timing of BOJ Rate Hike Unclear, Risks Weighted Toward Premature Action

Macquarie analysts stated that due to the Middle East conflict and uncertainties in energy prices, the timing of the Bank of Japan's next move remains unclear. The bank kept interest rates unchanged this week and may tighten policy in the future. The next rate hike is expected in July, but it could come earlier if the yen depreciates further.

The People's Bank of China Keeps Loan Prime Rate Unchanged

Gate News reported that on March 20, according to BitcoinWorld, the People's Bank of China (PBOC) announced on March 20, 2025, its decision on the Loan Prime Rate (LPR, China's benchmark lending rate), strategically maintaining rates unchanged to preserve economic stability.

SEC Chair Paul Atkins: Most Crypto Assets Are Not Securities, New Era of Regulation Just Beginning

SEC Chair Paul Atkins stated that only one class of crypto assets is subject to securities laws, with most digital assets falling outside its jurisdiction, and emphasized that different regulatory approaches will be adopted. As the CLARITY Act advances, legislation is critical to providing a durable framework for crypto regulation. Stablecoin regulatory issues remain unresolved, with obstacles existing before the bill passes, but progress is optimistic.

Bitcoin Price Lags Behind Global Money Supply Growth, High Energy Costs and Interest Rates Exacerbate Pressure

CF Benchmarks' latest report indicates a significant divergence between Bitcoin price and global money supply growth. Since mid-2025, global M2 money supply has increased approximately 12%, while Bitcoin price has declined 35%. High interest rates and rising energy prices have limited capital inflows. Over the medium to long term, if the financial environment improves, Bitcoin price may have a rebound opportunity.