Elon Musk’s suggestion to move the US Treasury to Blockchain Sparks Crypto Market Friteed | Flash news details

On February 6, 2025, Elon Musk, CEO of Tesla and Spacex, suggested that the US Treasury should be transferred to Blockchain technology (Source: Twitter, Altcoingordon, February 6, 2025). This statement, which was released at 14:30 World time, had a great impact on the cryptocurrency market, especially in the direct hours that followed the advertisement. Within the first hour, Bitcoin (BTC) increased from $ 50,000 to $ 52,000, an increase of 4 % (Source: Coinmarketcap, 6 February, 2025, 15:30 UTC). ETHEREUM (ETH) also witnessed an increase, increasing from $ 3000 to $ 3,150, by 5 % (Source: Coinmarketcap, 6 February 2025, 15:30 World time). These movements reflect the upcoming feelings of the market towards Musk’s proposal, as investors have interpreted as a potential future for the prevailing adoption of Blockchain technology in financial systems.

The trading effects of the Musk statement were immediate and imitated. Trading of major cryptocurrency sizes has risen. The Bitcoin trading volume jumped from 15 billion to 22 billion in the first two hours (Source: Coinmarketcap, 6 February 2025, 16:30 UTC). The trading volume in Ethereum increased from 8 billion to 12 billion in the same time frame (Source: Coinmarketcap, 6 February 2025, 16:30 UTC). This increase in size indicates an increase in market interest and liquidity, probably driven by merchants who seek to take advantage of the upcoming feelings. In addition, the BTC/USD trading pair witnessed an increased volatility, with an hourly fluctuation index increased from 1.5 % to 2.5 % (Source: Tradingvief, 6 February 2025, 16:30 UTC). This indicates that traders are actively involved with the market, which may lead to more important price movements in the short term.

Technical indicators and size data confirm the increase in the response of the upscale market. Bitcoin (RSI) has moved from 60 to 72 during the first three hours, indicating excessive peak conditions (Source: TradingView, 6 February 2025, 17:30 UTC). RSI increased from Ethereum from 55 to 68, indicating similar conditions in peak (Source: TradingView, 6 February 2025, 17:30 UTC). The difference in the moving average rapprochement (MACD) showed up bulls, as the Bitcoin Macwin line crosses the top of the signal line at 17:00 UTC and ETAREUM. 17: 30 UTC). The scales on the series also reflected an increased activity, as the number of active bitcoin addresses increased from 800,000 to 950,000 in the first four hours (Source: Glassnode, 6 February 2025, 18:30 UTC). This data indicates a strong participation in the market and the possibility of continuing ascending momentum.

When analyzing the effect of Musk’s statement on AI’s symbols, there was a noticeable correlation with the main encryption assets. Symbols such as Singularitynet (AGIX) and Fetch.ai (Fet) exceeding 6 % and 7 % respectively during the first hour (Source: CoinmarketCap, 6 February 2025, 15:30 UTC). This indicates that the broader market morale towards Blockchain adoption also positively affects the verbal cryptocurrencies, as investors see it as part of the wave of technological innovation. The correlation coefficient between BTC and Agix 0.85 was during this period, indicating a strong positive relationship (Source: Cryptoquant, February 6, 2025, 16:00 UTC). This may provide chances of trading in Crypto Crossover, where investors may look forward to diversifying their governor on assets focusing on artificial intelligence amid the ups of the upscale market.

The impact of developing artificial intelligence on the feelings of the encryption market was also clear. The trading sizes driven by the artificial intelligence of Bitcoin increased by 30 % in the first two hours after Musk tweet, indicating that the AI ​​algorithms were actively responding to the movement of the market (Source: Kaiko, February 6, 2025, 16:30 UTC). This indicates that trading strategies driven by artificial intelligence have become more widespread and responded to market news, which may lead to exaggeration of price movements. In general, the Musk’s proposal not only paid immediate reactions, but also highlighted the correlation between artificial intelligence techniques and Blockchain, which opens new ways for merchants to explore in the sophisticated encryption scene.