Bitcoin (BTC) experienced price fluctuations around $81,500 on March 13, 2025, even as US inflation data showed signs of cooling. The Producer Price Index (PPI) figures came in below expectations, mirroring the Consumer Price Index (CPI) results. The US Bureau of Labor Statistics reported a 2.8% increase in the CPI for the 12 months ending in February [4, 34, 35].
According to Bitfinex Alpha, Bitcoin's price has been oscillating between $85,000 and $92,000 due to market uncertainty [6]. The previous week's recovery to $90,000 was followed by significant volatility, influenced by the expiration of $3 billion in Bitcoin and Ethereum options. Real volatility for Bitcoin options exceeded 80%, with anticipated volatility increasing by 35.7% ahead of a major conference.
On-chain data indicated daily realized losses of $818 million. The Spent Output Profit Ratio (SOPR) for Bitcoin entered negative territory for the first time since October 2024, with short-term investors' SOPR at 0.95 [2, 23, 25, 28, 29]. A SOPR below 1 suggests that investors are selling at a loss.
In other news, U.S. President Donald Trump established a Strategic Bitcoin Reserve holding over 187,000 BTC, valued at $13 billion [5, 13, 17, 22]. The administration is also aiming for stablecoin legislation by August.
The SEC's Crypto Task Force is planning a series of roundtables to clarify the security status of digital assets [1, 3, 7, 9, 15]. Meanwhile, in Japan, the Liberal Democratic Party is working on crypto-friendly tax reforms, potentially reducing the capital gains tax to 20% [8, 12, 14, 18, 24].