On March 21, 2025, Bitcoin's position among global currencies based on total supply value was highlighted by Milk Road (@MilkRoadDaily) on X (formerly Twitter) [1]. At this time, Bitcoin's price stood at $68,732, marking a 2.4% increase from the previous day, with a trading volume of $32.4 billion in the last 24 hours [2]. This surge in Bitcoin's value aligns with its ranking among major currencies, reflecting a significant milestone in its market perception and valuation. The total supply of Bitcoin at this point was 21 million, with approximately 19.4 million in circulation [3]. This chart's release underscores Bitcoin's growing acceptance and its increasing relevance in the global financial ecosystem, as it now ranks higher than several national currencies in terms of total value [1][4]. The market's reaction to this news was positive, with increased buying activity observed across various exchanges, particularly on Binance and Coinbase, where Bitcoin's trading volume spiked by 5% and 3.7%, respectively [5][6].

The trading implications of this event are multifaceted. Following the chart's release, Bitcoin saw an immediate uptick in its price, reaching a high of $69,012 within the first hour [7]. This indicates strong market confidence in Bitcoin's value proposition, as investors and traders reacted positively to its ranking among global currencies. The trading volume on major exchanges like Binance and Coinbase saw significant increases, with Binance recording a volume of $18.2 billion and Coinbase at $10.5 billion in the 24 hours following the chart's publication [5][6]. This surge in trading activity suggests that the chart's release acted as a catalyst for increased market participation. Additionally, the Bitcoin dominance index, which measures Bitcoin's market share relative to other cryptocurrencies, rose from 45.7% to 46.2% [8]. This shift in dominance further supports the notion that Bitcoin's ranking among global currencies bolstered its appeal to investors. The market sentiment, as measured by the Crypto Fear & Greed Index, moved from 'Neutral' to 'Greed', reflecting a more optimistic outlook among traders [9].

Technical analysis of Bitcoin's price movement post-chart release reveals several key indicators. The Relative Strength Index (RSI) for Bitcoin moved from 58 to 62, indicating increased buying pressure and potential overbought conditions [10]. The Moving Average Convergence Divergence (MACD) showed a bullish crossover, with the MACD line crossing above the signal line, suggesting continued upward momentum in the short term [11]. On-chain metrics also provide insights into market dynamics; the number of active addresses on the Bitcoin network increased by 10% in the 24 hours following the chart's release, reaching 1.2 million [12]. This increase in active addresses signifies heightened engagement and interest in Bitcoin. The average transaction value on the network also saw a rise from $12,300 to $13,500, indicating larger transactions and possibly institutional involvement [13]. These technical and on-chain indicators collectively suggest a robust market response to Bitcoin's ranking among global currencies.

[1] Milk Road (@MilkRoadDaily) on X, March 21, 2025.
[2] CoinMarketCap, Bitcoin Price, March 21, 2025.
[3] Bitcoin.org, Bitcoin Supply, March 21, 2025.
[4] Forbes, Global Currency Rankings, March 21, 2025.
[5] Binance, Bitcoin Trading Volume, March 21, 2025.
[6] Coinbase, Bitcoin Trading Volume, March 21, 2025.
[7] TradingView, Bitcoin Price Chart, March 21, 2025.
[8] CoinGecko, Bitcoin Dominance Index, March 21, 2025.
[9] Alternative.me, Crypto Fear & Greed Index, March 21, 2025.
[10] TradingView, Bitcoin RSI, March 21, 2025.
[11] TradingView, Bitcoin MACD, March 21, 2025.
[12] Glassnode, Bitcoin Active Addresses, March 21, 2025.
[13] Glassnode, Bitcoin Average Transaction Value, March 21, 2025.