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Top 6 Important Fed Decisions To Know After SEC Drops Ripple Lawsuit Appeal
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The crypto industry received a significant legal victory as Ripple CEO Brad Garlinghouse announced on March 19 that the U.S. Securities and Exchange Commission (SEC) had officially dropped its appeal against the company. The announcement came in a video posted on social media platform X, where Garlinghouse noted the regulatory agency’s decision to end its pursuit of further litigation.
Besides this interesting development, another major financial development has taken center stage in the crypto market in the past 24 hours; the outcome of the Federal Reserve’s latest meeting.
Fed Keeps Interest Rates Steady Amid Uncertainty
The outcome of the latest Fed meeting can be divided into six key decisions. First, the Federal Reserve opted to maintain interest rates at their current level, keeping the borrowing rate in a range between 4.25% and 4.5% for the second consecutive meeting. This decision is part of a continued pause in the Fed’s tightening cycle.
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Secondly, the Fed noted that uncertainty surrounding the economy has increased, and third, the Fed’s updated projections were the shift in expectations for rate cuts in 2025. The median forecast suggests 50 basis points of cuts for the year, but a growing number of Fed officials are less convinced that rate reductions will be necessary. In December, only one official anticipated no rate cuts in 2025. However, there’s now a more divided outlook, and that number has now risen to four, as noted in a post on social media platform X by analysts at The Kobeissi Letter.
Beyond interest rates, the Fed revised its economic growth projections downward for 2025, suggesting that policymakers see slower expansion ahead. This adjustment comes alongside an increase in the Fed’s inflation forecast for the same period, reflecting concerns about price pressures persisting longer than previously anticipated. With inflation remaining a key focus, the central bank is treading carefully as it evaluates the right time to pivot toward a looser monetary stance.
Fourthly, the Fed announced that it would slow the pace of its balance sheet runoff beginning in April. This is alongside a sharp reduction in the Fed’s 2025 growth projections and a markup in their 2025 inflation forecast.
Implications For Crypto Markets And Digital Assets
For the crypto industry, the Fed’s decision to hold rates steady and its mixed messaging on future cuts introduce a dynamic situation to Bitcoin and others. The fact that the Fed is still concerned about inflation and economic uncertainty shows that the path to more accommodative policies regarding the crypto industry may not be as smooth.
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However, if the Fed stays hesitant to cut rates and economic growth slows as projected, digital assets may face headwinds later in the year, which may slow down the predicted growth by crypto analysts.
Featured image from Unsplash, chart from Tradingview.com
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Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
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The Ethereum-to-Bitcoin ratio has fallen to its lowest level in five years after a dismal Ethereum price performance. As investors try to wrap their heads around the grim metric, Taproot Wizards co-founder Eric Wall has explained the reason behind the steep drop.
Eric Wall Highlights Reasons For ETH/BTC Ratio Collapse
Taproot Wizards co-founder Eric Wall has identified a raft of reasons behind the decline of the ETH/BTC ratio in 2025. The cryptocurrency expert revealed the factors behind the falling ETH/BTC ratio in an X post, hinging the bulk of the blame on Ethereum’s recent price performance.
The ETH/BTC ratio slumped to a five-year low after Ethereum bucked the trend of following Bitcoin on a rally after the halving event. While Bitcoin price rose to cross the $100K mark, Ethereum price has tumbled below $2,000 to reach lows of $1,400.
For Wall, one factor affecting the ETH/BTC ratio appears to be Ethereum’s position in a competitive landscape. Since its launch, several blockchains have cropped up to snag market share from the largest altcoin, offering cheaper fees and faster processing times.
The cryptocurrency expert argues that the absence of a Saylor-like buyer for ETH is playing its role in the decline of the ETH/BTC ratio. Michael Saylor’s BTC purchases have contributed to the asset’s performance, but Wall argues that Ethereum does not have a consistent buyer.
Wall adds that Bitcoin and gold have evolved into wartime assets in the current macroeconomic climate, while ETH is considered a “peacetime asset.” Gold has surged to new highs, sparking optimism that Bitcoin will follow in the same path for a similar rally, while the Ethereum price continues its unimpressive run.
The Merge Is Not Responsible For The Ratio Decline
Eric Wall notes that Ethereum’s Merge event is not responsible for the ETH/BTC slump, contrary to popular sentiment. Ethereum migrated from Proof-of-Work to Proof-of-Stake in 2022, with the ETH/BTC ratio tanking since the Merge.
“The ETHBTC ratio did not go down because of The Merge,” said Eric Wall.
However, pseudonymous cryptocurrency analyst Beanie argues that the Merge is the primary reason for the price decline. Rebuffing the speculation, Wall opines that Ethereum’s layer 2 tokens triggered network fragmentation after botching the “asset value capture narrative,” affecting the ETH/BTC ratio.
“Ethereum also stagnated into a depressingly small number of defi primitives relative to what past expectations were,” added Wall.
Ethereum is flashing signs of brilliance after ETH trading volume spiked to $17.5 billion in less than a day. ETH prices are exchanging hands at nearly 1,800 after an impressive 12% rally that saw it outperform SOL and XRP
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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April has been a month of extreme volatility and tumultuous times for traders.
From conflicting headlines about President Donald Trump’s tariffs against other nations to total confusion about which assets to seek shelter in, it has been one for the record books.
Amid all the confusion, when traditional “haven assets” failed to act as safe places to park money, one bright spot emerged that might have surprised some market participants: bitcoin.
“Historically, cash (the US dollar), bonds (US Treasuries), the Swiss Franc, and gold have fulfilled that role [safe haven], with bitcoin edging in on some of that territory,” said NYDIG Research in a note.
NYDIG’s data showed that while gold and Swiss Franc had been consistent safe-haven winners, since ‘Liberation Day’—when President Trump announced sweeping tariff hikes on April 2, kicking off extreme volatility in the market—bitcoin has been added to the list.
“Bitcoin has acted less like a liquid levered version of levered US equity beta and more like the non-sovereign issued store of value that it is,” NYDIG wrote.
Zooming out, it seems that as the “sell America” trade gains momentum, investors are taking notice of bitcoin and the original promise of the biggest cryptocurrency.
“Though the connection is still tentative, bitcoin appears to be fulfilling its original promise as a non-sovereign store of value, designed to thrive in times like these,” NYDIG added.
Read more: Gold and Bonds’ Safe Haven Allure May be Fading With Bitcoin Emergence
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