Bitcoin Price Today [LIVE] Updates, Why is Crypto Going Up? 16th March

Broader economic uncertainty may weigh on crypto markets. Recent criticism of Federal Reserve policy by Donald Trump highlights ongoing tensions around interest rates and monetary policy. Analysts note that in past cycles, the Federal Reserve often cut rates only after economic damage had already begun, such as during the 2000–2003, 2007–2009, and 2019–2020 downturns. A similar pattern could repeat, potentially triggering a larger market decline, followed by rate cuts and institutional buying of cheaper assets.

Artificial intelligence agents are increasingly using blockchain networks to make payments. Over the past nine months, AI agents completed about 140 million on-chain transactions, totaling around $43 million in value. The average payment was roughly $0.30, showing the focus on small automated transfers. Most of these transactions happened on Ethereum layer-2 networks, Base, and Solana, which together handle about 97% of machine-to-machine crypto payments.

XRP is facing selling pressure after dropping below the $1.8–$2.0 support zone, which has now turned into resistance. As long as the price stays under this level, the short-term trend remains weak. If the decline continues, the next major support area sits around $0.75–$0.80, where buyers could step in. Until then, XRP may stay in a corrective phase as the market looks for stronger support.

Strategy would need to buy about 6,158 Bitcoin per week for the rest of 2026 to reach 1 million BTC by the end of the year. At an average price of $85,000 per Bitcoin, the company still needs to purchase 261,269 BTC, costing roughly $22.2 billion. As of last Monday, Strategy held 738,731 BTC. So far in 2026, the company has already added 64,948 BTC, including 17,994 BTC bought last week.

The Federal Reserve is expected to keep interest rates unchanged at 3.5%–3.75% during the FOMC meeting this Wednesday, with markets not expecting a rate cut. Rising oil prices, driven by the US-Israel conflict with Iran, have pushed Brent crude to around $104–$105 per barrel. Possible disruptions in the Strait of Hormuz, which carries about 20% of global oil supply, are increasing energy costs. Higher oil prices could push inflation up further, leaving the Fed cautious about easing policy.

Several important economic updates are scheduled this week that could influence financial markets. On Tuesday, the February Pending Home Sales data will be released, offering insight into the housing market. Wednesday brings two major events: the February PPI inflation report and the Federal Reserve’s interest rate decision. On Thursday, investors will watch the Philly Fed Manufacturing Index along with January New Home Sales data, both of which provide clues about economic activity and housing demand.

Bitcoin has moved above a minor resistance level and is now nearing a liquidity area around $74,000–$74,100. If this level is reached, analysts say the price could briefly rise toward $74,200–$74,400. However, once that liquidity is cleared, the rally may lose momentum, raising the chance of a rejection from the wider resistance zone. If the price pulls back, key support levels to watch are $71,500, $70,300, and the major support area between $69,000 and $69,500.

Pi Network has introduced the first version of its Launchpad as a Pi App on the Testnet, along with a test token. The feature is being launched on Testnet first to help the community understand how the system works. Since the Launchpad uses a process different from typical Web3 token launches, this trial phase allows users to learn and explore the platform before it officially moves to the Mainnet. The step aims to prepare the community for future token launches on the network.

Crypto veteran Erik Voorhees has made a major return to the market with a large purchase of Ethereum. Data shared by Lookonchain shows that Voorhees bought 23,393 ETH, worth about $49.08 million. The tokens were purchased at an average price of roughly $2,098 each. The transactions were carried out using two different wallets, signaling a significant move by the long-time crypto supporter.

Bitcoin surged about $1,800 in just 30 minutes, reaching a 40-day high of around $74,300 and catching many traders by surprise. The sudden move triggered about $113 million in short liquidations within an hour across major exchanges. Since the start of the US-Iran conflict, the total crypto market has added more than $320 billion in value. Interestingly, cryptocurrencies have outperformed traditional safe-haven assets like gold and silver during the ongoing geopolitical tensions.

Bitcoin spot ETFs attracted $767 million in net inflows from March 9 to March 13 (ET), marking their third straight week of gains. Ethereum spot ETFs also continued their positive run, bringing in $161 million during the same period. Meanwhile, SOL spot ETFs saw modest inflows of $10.7 million. In contrast, XRP spot ETFs recorded net outflows of $28.07 million. The data highlights steady investor interest in Bitcoin and Ethereum funds despite mixed flows in other crypto-linked products.

Bitcoin and other cryptocurrencies rose sharply early Monday, surprising many traders. Bitcoin climbed 3.2% in a day, while Ethereum surged 7.6%. The sudden move triggered large losses for traders betting prices would fall, with about $115 million wiped out at first before easing to $47.6 million. The total crypto market value reached $2.52 trillion as the rally spread across major exchanges like Binance and Bybit. Some analysts say prices could climb further, though others warn a pullback may target buyers next.