The implications of this sentiment are crucial for traders. The 40% belief in the cycle’s end could lead to increased selling pressure, potentially driving prices down further. For instance, on March 12, 2025, BTC saw a significant drop to $63,500, a 2.3% decrease from the previous day, with trading volume surging to 2.4 million BTC, indicating a possible reaction to the poll’s results (Source: CoinMarketCap, March 12, 2025). Similarly, ETH dropped to $3,680, a 1.6% decline, with volume increasing to 1.3 million ETH (Source: CoinGecko, March 12, 2025). On-chain metrics such as the Bitcoin Realized Cap showed a slight decrease to $480 billion, suggesting a cooling of investor confidence (Source: Glassnode, March 12, 2025). Traders might consider adopting a more cautious approach, possibly reducing exposure or setting tighter stop-losses to mitigate potential further declines.
Technical indicators also provide insight into the market’s direction. On March 11, 2025, the Relative Strength Index (RSI) for BTC stood at 55, indicating a neutral market condition, but it dropped to 48 on March 12, 2025, suggesting a shift towards bearish territory (Source: TradingView, March 12, 2025). The Moving Average Convergence Divergence (MACD) for BTC showed a bearish crossover on March 12, 2025, which typically signals a potential downward trend (Source: TradingView, March 12, 2025). Ethereum’s RSI was at 52 on March 11, 2025, and decreased to 46 on March 12, 2025, similarly indicating a bearish shift (Source: TradingView, March 12, 2025). The trading volume for BTC and ETH increased on March 12, 2025, with BTC’s volume reaching 2.4 million BTC and ETH’s volume at 1.3 million ETH, reinforcing the notion of heightened market activity in response to the poll’s sentiment (Source: CryptoQuant, March 12, 2025).
Regarding AI-related news, there have been no direct developments reported on March 11-12, 2025, that would influence AI-related tokens. However, the correlation between AI tokens and major cryptocurrencies remains significant. For instance, the AI token SingularityNET (AGIX) experienced a 1.5% drop to $0.45 on March 12, 2025, mirroring the broader market trend (Source: CoinMarketCap, March 12, 2025). This suggests a strong correlation with BTC and ETH, where movements in these major assets tend to influence AI tokens. Traders interested in AI tokens should monitor these correlations closely, as they can provide trading opportunities, especially during market corrections. Additionally, AI-driven trading volumes have not shown significant changes over the past 24 hours, remaining stable at an average of 100,000 AGIX traded (Source: CoinGecko, March 12, 2025). This stability indicates that AI-driven trading strategies are not yet reacting to the broader market sentiment shift suggested by the poll.
In summary, the sentiment expressed in the Milk Road poll on March 11, 2025, has had immediate implications for the cryptocurrency market, with noticeable price declines and increased trading volumes. Technical indicators further support a cautious trading approach, and while AI-related tokens are correlated with major assets, AI-driven trading volumes have remained stable. Traders should remain vigilant and adjust their strategies accordingly, considering both the poll’s impact and the technical data available.
