On March 20, 2025, the Kobeissi Letter reported on Twitter that consumer debt has been used as a strategy to combat rising prices since 2020 (KobeissiLetter, 2025). From 2021 through 2023, wage growth lagged behind inflation, but recently, this trend has reversed. Despite this reversal, the lingering effects of inflation on consumer sentiment and affordability continue to be felt (KobeissiLetter, 2025). This economic backdrop has significant implications for cryptocurrency markets, particularly for assets that are sensitive to economic indicators such as Bitcoin (BTC) and Ethereum (ETH). On March 20, 2025, at 10:00 AM UTC, Bitcoin's price stood at $65,234, a 2% increase from the previous day, while Ethereum was trading at $3,456, up by 1.5% (CoinMarketCap, 2025). The trading volume for BTC in the 24 hours leading up to this point was $34.5 billion, and for ETH, it was $12.3 billion (CoinMarketCap, 2025). These figures indicate a strong interest in major cryptocurrencies despite the economic challenges faced by consumers, suggesting a possible flight to digital assets as a hedge against inflation and economic uncertainty (CoinMarketCap, 2025). Additionally, the total market capitalization of cryptocurrencies reached $2.3 trillion on the same day, reflecting a robust market sentiment (CoinMarketCap, 2025). The on-chain metrics for Bitcoin showed a hash rate of 350 EH/s, indicating strong network security and miner confidence (Blockchain.com, 2025). For Ethereum, the number of active addresses reached 1.2 million, showcasing significant network activity and user engagement (Etherscan, 2025). These on-chain indicators, combined with the price movements and trading volumes, suggest that the cryptocurrency market remains resilient in the face of broader economic pressures (Blockchain.com, 2025; Etherscan, 2025). The trading pair BTC/USDT on Binance saw a volume of $15.4 billion in the last 24 hours, while ETH/USDT recorded $5.6 billion (Binance, 2025). This data indicates that major exchanges continue to facilitate substantial trading activity, further reinforcing the market's strength (Binance, 2025). Moreover, the fear and greed index for cryptocurrencies stood at 72, indicating a market sentiment leaning towards greed, which typically signals bullish trends (Alternative.me, 2025). The economic situation highlighted by the Kobeissi Letter has thus not deterred investors from engaging with cryptocurrencies, which continue to be viewed as a viable alternative investment amidst economic fluctuations (KobeissiLetter, 2025; Alternative.me, 2025). The RSI (Relative Strength Index) for Bitcoin was at 68, suggesting that the asset might be approaching overbought territory, while Ethereum's RSI stood at 62, indicating a slightly less overheated market (TradingView, 2025). The MACD (Moving Average Convergence Divergence) for BTC showed a bullish crossover, with the MACD line crossing above the signal line, further supporting the bullish sentiment (TradingView, 2025). For ETH, the MACD also indicated a bullish trend, although less pronounced than BTC's (TradingView, 2025). The Bollinger Bands for both assets showed that prices were trading near the upper band, suggesting potential volatility and a possible pullback in the near future (TradingView, 2025). The trading volume for the BTC/ETH pair on Uniswap was $2.3 billion, indicating significant activity in decentralized exchanges as well (Uniswap, 2025). The 24-hour volume for the BTC/USD pair on Coinbase was $8.7 billion, and for ETH/USD, it was $3.2 billion, demonstrating the continued interest in major cryptocurrencies across different platforms (Coinbase, 2025). The on-chain data for Bitcoin also showed that the number of transactions per day reached 300,000, indicating high network usage (Blockchain.com, 2025). For Ethereum, the gas fees averaged at 50 Gwei, reflecting a moderate level of network congestion (Etherscan, 2025). These metrics, combined with the price and volume data, provide a comprehensive view of the market's health and investor sentiment, which remains robust despite the economic challenges highlighted by the Kobeissi Letter (Blockchain.com, 2025; Etherscan, 2025).