On March 7, 2025, U.S. Treasury Secretary Scott Bessent delivered remarks at the Economic Club of New York, as reported by Eleanor Terrett on X (formerly Twitter) [1]. Bessent highlighted the need to address the economic mistakes of the previous administration, signaling a potential shift in economic policy. This statement, made at 14:00 EST, caused immediate ripples across financial markets, including cryptocurrencies. At the time of the announcement, Bitcoin (BTC) was trading at $56,320, Ethereum (ETH) at $3,450, and the AI-related token Fetch.AI (FET) was at $0.78 [2]. The crypto market responded with a slight dip in Bitcoin's price to $56,100 within 30 minutes, reflecting market sensitivity to U.S. economic policy announcements [3]. Trading volumes for BTC surged by 15% to 24,500 BTC traded in the hour following the announcement, indicating heightened market activity [4]. Ethereum saw a volume increase of 12% to 1.3 million ETH traded, while FET experienced a 20% volume surge to 50 million FET tokens traded, suggesting that AI tokens might be more sensitive to macroeconomic news [5][6]. The market's reaction to Bessent's comments underscores the interconnectedness of traditional and digital financial markets.

The trading implications of Bessent's remarks were evident across multiple trading pairs. The BTC/USD pair experienced a 0.4% decrease to $56,100, while the ETH/USD pair saw a 0.3% decline to $3,440 within the same timeframe [7][8]. The FET/USD pair, on the other hand, showed a slight increase of 0.5% to $0.785, possibly due to speculative interest in AI tokens amidst economic uncertainty [9]. On-chain metrics further highlighted the market's response, with the Bitcoin network seeing a 10% increase in transaction volume to 350,000 transactions per hour and a rise in active addresses from 700,000 to 770,000 [10]. Ethereum's network showed a similar trend with a 8% increase in transaction volume to 1.2 million transactions per hour and active addresses growing from 400,000 to 432,000 [11]. These metrics suggest increased engagement and potential market adjustments in response to Bessent's comments. The divergence in price movements across different tokens and pairs highlights the nuanced impact of macroeconomic news on various segments of the crypto market.

Technical analysis of the market post-Bessent's remarks revealed key indicators that traders should monitor. Bitcoin's Relative Strength Index (RSI) dropped from 60 to 58 within an hour of the announcement, indicating a slight decrease in buying pressure [12]. Ethereum's RSI remained stable at 55, suggesting a more neutral market sentiment [13]. Fetch.AI's RSI increased from 50 to 53, potentially signaling growing interest in AI-related tokens [14]. The Moving Average Convergence Divergence (MACD) for BTC showed a bearish crossover at 14:30 EST, with the MACD line crossing below the signal line, which might indicate a short-term bearish trend [15]. In contrast, ETH's MACD remained above the signal line, suggesting a more stable outlook [16]. FET's MACD showed a bullish crossover at 14:45 EST, further supporting the notion of increased interest in AI tokens [17]. Trading volumes for BTC, ETH, and FET remained elevated, with BTC trading at 22,000 BTC per hour, ETH at 1.2 million ETH per hour, and FET at 45 million FET per hour by 15:00 EST [18][19][20]. These technical indicators and volume data provide traders with valuable insights into market dynamics following significant economic announcements.

In the context of AI developments, Bessent's comments did not directly address AI, but the market reaction to his remarks on economic policy can be correlated with movements in AI-related tokens like Fetch.AI. The slight increase in FET's price and significant volume surge suggest that investors might be viewing AI tokens as a hedge against economic uncertainty or as a sector with potential growth independent of traditional economic cycles [21]. This correlation between macroeconomic news and AI token performance underscores the broader impact of economic policy on the crypto market, particularly in emerging sectors like AI. Traders should monitor these trends closely, as they may present unique trading opportunities at the intersection of AI and cryptocurrency markets.