A rumor suggesting major Wall Street firms considering Bitcoin for their reserves has emerged, leading to increased market activity.
Bitcoin Market Reaction
On March 27, 2025, Crypto Rover reported that several major Wall Street firms are exploring Bitcoin purchases for their reserves. Following the rumor, Bitcoin rose to $65,230 on Coinbase, marking a 2.5% gain from the day's opening price of $63,650. Trading volumes surged significantly with Binance reporting 25,000 BTC traded and CME open interest rising by 10%.
Market Volatility
An hour after the report, the Bitcoin Volatility Index (BVOL) increased from 45 to 52. This adjustment indicates market participants' movements in response to anticipated market developments. The BTC/USD trading spread on Kraken and Bitstamp rose from $10 to $15, reflecting increased trader uncertainty. The Bitcoin to Ethereum exchange ratio reached 15.6, leaving Ethereum's price somewhat unchanged. Transactions exceeding $100,000 increased by 15% over the day. A bullish engulfing pattern appeared on Bitcoin charts over the 4-hour time frame, with the Relative Strength Index rising from 60 to 68, remaining below the overbought threshold.
AI-Related Cryptocurrencies Response
The Bitcoin market rumors also affected AI-related crypto assets, notably SingularityNET (AGIX) and Fetch.AI (FET). Both demonstrated positive changes, with AGIX growing 4% to $0.85 and FET increasing 3.5% to $1.20. Trading volume for both AGIX and FET rose by 20% and 15% respectively.
The rumor of Wall Street firms considering Bitcoin for reserves has significantly impacted market dynamics, resulting in volatility and drawing attention to AI-related tokens.
