Elon Musk and Coinbase CEO suggests Blockchain for us spending | Flash news details

On February 9, 2025, Elon Musk and Coinbase, CEO of Coinbase Brian Armstrong, publicly suggested the radical idea of ​​transferring all 6.9 trillion US annual government spending to Blockchain system (Source: TwitterKobeissileter, 9 February 2025). This suggestion, if implemented, will represent a huge shift in how to manage government funds and can have profound effects on the cryptocurrency market. This announcement led to a significant increase in the price of bitcoin, which jumped from $ 50,000 to $ 54,000 within an hour of breaking news (Source: Coinmarketcap, February 9, 2025, 14:00 UTC). Ethereum also saw a similar increase, moving from $ 3,000 to $ 3200 during the same period (Source: Coinmarketcap, February 9, 2025, 14:00 UTC). Bitcoin’s trading volume increased to $ 25 billion, up from $ 15 billion during the past week (Source: Coinmarketcap, 9 February 2025, 14:00 UTC). The trading volume in ETHEREUM also increased to $ 10 billion from a weekly average of $ 6 billion (Source: Coinmarketcap, February 9, 2025, 14:00 UTC). This sudden increase in trading activity indicates an increase in the investor’s interest and speculation about the potential impact of Blockchain technology on government spending.

Trading effects of this proposal wide. The immediate increase in bitcoin and ethereum prices indicate a strong belief in the market in the possibility of increasing Blockchain’s dependence. The BTC/USD trading pair witnessed an increase in the sound level to 1.2 million BTC trading, an increase of 60 % over the size of the previous day of 750,000 BTC (Source: Binance, February 9, 2025, 14:00 UTC). The ETH/USD pair has also seen a significant increase in its size, as it reached 4.5 million ETH, up from 3 million ETH in the previous day (Source: Binance, February 9, 2025, 14:00 UTC). The RSI RSI rose to 72, indicating excessive peak conditions, while RSI from Ethereum reached 68 (Source: TradingView, February 9, 2025, 14:00 UTC). The difference in moving average rapprochement (MACD) of both assets showed an upper intersection, indicating the continuation of the upscale momentum (Source: TradingView, February 9, 2025, 14:00 UTC). These technical indicators, in addition to increasing trading sizes, indicate that traders put themselves to achieve other possible gains in anticipation of the increase of Blockchain’s dependence.

From a technical perspective, the announcement of the proposal led to major changes in market indicators. Via the 50 -day moving average via the 200 -day moving average, and it forms a “golden cross”, which is often seen as a bullish sign (Source: Tradingview, February 9, 2025, 14:00 UTC). Ethereum also showed a similar pattern, as the moving average move for 50 days over the 200 -day moving average (Source: TradingView, February 9, 2025, 14:00 UTC). Bollinger ranges expanded for both assets, indicating an increase in volatility after news (Source: Tradingview, February 9, 2025, 14:00 UTC). The scales on the series also reflect the market response, with the number of active bitcoin addresses increased by 10 % to 1.1 million titles (Source: Glassnode, February 9, 2025, 14:00 UTC). The active ETHEREUM addresses also increased by 8 % to 500,000 titles (Source: Glassnode, February 9, 2025, 14:00 UTC). The increase in active addresses indicates a wider participation of the encryption community, which is likely to be driven by the possibility of adopting the prevailing Blockchain.

Given the developments of artificial intelligence related to this news, there is a noticeable relationship between trading algorithms driven by artificial intelligence and the market response to the Blockchain proposal. The symbols associated with the prosecution, such as Singularitynet (AGIX) and Fetch.AI (Fet), saw a 15 % increase in the price during the first hour of the advertisement (Source: CoinMarketcap, 9 February 2025, 14:00 UTC). Agix trading volume increased to $ 500 million, a significant increase over the average daily size of $ 300 million (Source: Coinmarketcap, February 9, 2025, 14:00 UTC). Fet trading volume also increased to 200 million dollars from an average of $ 150 million (Source: Coinmarketcap, 9 February 2025, 14:00 UTC). The relationship between these distinctive AI and the main encryption assets like Bitcoin and Ethereum is clear, because the morale in the market about Blockchain adoption directly affects the prices of the artificial intelligence code. AI’s trading algorithms may play a role in the fast price movements that have been observed, as these algorithms can analyze market news and respond quickly. The growing trading volume in artificial intelligence symbols indicates that merchants are looking to take advantage of the possibility that artificial intelligence boosts Blockchain technology, creating new chances of trading at the AI ​​and Cryptocurrency intersection.