U.S. lawmakers voted to cancel an IRS rule that required crypto companies, including DeFi platforms, to collect and report taxpayer and transaction information. The House passed the vote 292-132, following the Senate’s decision to reject the rule that was finalized during the final days of former President Biden’s administration. This could change how crypto businesses are regulated.
Fox Business Journalist Eleanor Terrett noted that due to a rule that budget-related bills must start in the House, the Senate will need to vote on the resolution one more time. Once that vote passes, it will go to President Trump’s desk as the first crypto-related bill to become law.
ADDING: I’m told by a Capitol Hill source that due to a technicality that requires bills that affect the budget to originate in the House, the Senate will need to vote on the joint resolution one more time.
After this final vote (which is expected to pass like the last one),… https://t.co/mbovD6V8I1
Missouri Republican Jason Smith urged lawmakers to support the resolution, saying the IRS rule could hurt U.S. businesses and stifle innovation. He added that the rule might be impossible to enforce, as DeFi platforms are different from centralized crypto exchanges or banks and cannot gather the required user information to comply with the rule.
Last week, 70 Senators voted to overturn the IRS rule, with Trump’s advisers urging him to sign it. Rep. Jason Smith (R-Mo.) noted the Senate must approve it again due to budget rules. If signed, the IRS would be blocked from enforcing similar rules in the future.
Illinois Democrat Danny Davis argued the rule was part of the 2021 Infrastructure Act, comparing crypto to stocks and saying crypto platforms should report like stock brokers. Meanwhile, North Carolina Republican Tim Moore claimed the rule overstepped and could harm U.S. innovation in digital assets.
Texas Democrat Lloyd Doggett called the resolution “special interest legislation,” saying that it could help tax cheats, criminals, and terrorist financiers, and add $4 billion to the national debt, going against President Trump’s goal to cut the debt.
Altcoins have been attracting investor attention this weekend, with Bitcoin and Ethereum prices stagnating around $85,000 and $2,000, respectively, since Friday. Prominent crypto analysts have published data insights showing investors are increasingly rotating capital toward altcoins after recent U.S. macroeconomic updates.
Analysts Predict Altcoin Season as Fed Rate Pause Triggers Risk-On Appetite
The altcoin market had a rough start to March 2025 when U.S. President Donald Trump announced new tariffs on Canada and Mexico. However, the macroeconomic landscape has since improved. The Trump administration made adjustments to the tariffs, while U.S. CPI and PPI data indicated that inflation risks from the tariffs were overestimated.
This shift in sentiment was further reinforced after the latest Federal Open Market Committee (FOMC) meeting on Wednesday, where the U.S. Federal Reserve announced a pause in interest rate hikes.
S&P 500 Performance, March 23, 2025 | Source: NASDAQ
Traditional finance (TradFi) investors reacted by moving capital out of safe-haven assets like gold and into stocks, pushing the S&P 500 up by 31.7 points last week.
Crypto markets appear to be following suit, with traders increasingly rotating funds from Bitcoin and Ethereum into altcoins.
Crypto Analysts Signal Imminent Altcoin Breakout
Adding to the growing optimism around altcoins, two major crypto analysts took to social media to highlight technical indicators pointing to an incoming “Alt Season”—a market phase where altcoins significantly outperform Bitcoin.
“2025 #ALTSEASON starts in less than 3 days now,” alongside a chart illustrating past cycles of altcoin dominance relative to Bitcoin.
Crypto analyst Sensei (@SenseiBR_btc) made a bold declaration, March 21, 2025 ,
The accompanying chart showed clear historical patterns where altcoins surged against Bitcoin, with a third major rally seemingly about to begin.
In response, OBI Real Estate (@Obirealestate) weighed in on the discussion, adding, “Markets are buzzing, timing will be everything.”
Key Takeaways: Why This Weekend Matters for Altcoins
Capital Rotation: With Bitcoin and Ethereum trading sideways, traders are diverting funds toward altcoins, anticipating stronger returns.
Macro Trends: Improved inflation outlook and the Fed’s rate pause have boosted risk-on sentiment across global markets.
Technical Indicators: Historical charts from top analysts suggest that the long-awaited Alt Season could be days away from starting.
As traders look ahead, this weekend may present a critical window of opportunity to accumulate promising altcoins before a broader market breakout.
3 Top Trending Altcoins to Watch in the Week Ahead
Bitcoin (BTC) has surged past the $85,000 mark, signaling strong market sentiment despite a slight 0.9% decline in global crypto market cap over the past 24 hours. While BTC’s resilience suggests growing confidence, a look at broader market trends reveals that large-cap altcoins remain stagnant, while smaller-cap assets are seeing significant moves.
Crypto market performance, March 23 | Source: CoinMarketCap
Ethereum (ETH) remains subdued at $2,000, showing only a 0.5% gain in 24 hours. Similarly, Cardano (ADA) and Binance Coin (BNB) also moved sideways, conslidating at the $0.70, $620 respectively, while Solana (SOL), trading at $132 leads the top 10 assets with a 2.4% gain.
However a closer look at the Coinmarketcap above shows low-cap altcoins, are attracting significant search traffic, a move that could attract further capital inflows in the coming trading seesions.
1. Trump Memecoin (Official Trump) – Political optimism fuels rally
The Trump-themed memecoin is trading at $11.81, up 5.9% in the last 24 hours, making it one of the most notable gainers. This rally alligns with improved sentiment surrounding recent U.S. policy discussions and Trump’s appearance at the Blockwork’s Digital Assets Summit, last week.
With increasing political relevance and heightened social media buzz, this token is one to watch closely. A break above key resistance levels in the coming days could drive further gains.
2. Pi Network (PI) – Struggling to Break $1, But Buzz is Growing
Last week, PI endured major sell-offs as the network migration trigger mixed reactions among investors. However, Pi Network is now flashing recovery signals. At press time on Sunday, March 23, PI network price is facing strong resistance at the $1 mark, struggling to establish a breakout. However, with the token has become one of the most discussed assets in the last 24 hours, investor interest is evident.
If buying pressure continues and $1 resistance caves, a significant breakout could follow, making this an asset to monitor for a potential price explosion.
Ethereum’s native cross-chain bridge token, Wormhole (W) price, has surged 23.9%, driven by increased demand as investors rotate funds across chains.
Wormhole Price Action, March 23 | Source: Coingecko
The boost in market optimism, combined with the Fed’s recent decision to pause interest rate hikes, has further supported capital flows into decentralized finance (DeFi).
With more activity on cross-chain protocols, Wormhole’s demand could continue to rise, making it a strong candidate for further upside in the days ahead.
In Summary:
While Bitcoin’s dominance remains strong above $85,000, altcoins, particularly low-cap assets, are gaining momentum. The surge in Trump memecoin, Pi Network’s rising popularity, and Wormhole’s DeFi-driven gains all signal that the altcoin market could be gearing up for major moves. Traders should watch for key breakout levels as these assets continue to gain traction
Dogecoin (DOGE) is currently experiencing a downward trend, aligning with the broader crypto market trend. Despite this prevailing bearish period, analysts and experts remain bullish about the meme coin’s potential uptrend. However, the Dogecoin price could plummet to $0.015, if it fails to challenge the significant support level.
Will Dogecoin Price Slip to $0.015?
According to Ali Martinez’s analysis, Dogecoin’s price has been following an ascending channel since 2014. Historically, DOGE has bounced back from the channel’s lower support trendline to the upper resistance trendline, only to drop back down.
However, DOGE has now reached a critical juncture. If it breaks below the $0.19 support level, it may trigger a sharp correction to $0.015.
This bearish prediction aligns with DOGE’s current performance. As of press time, DOGE is trading at $0.2029, with a dip of 2.87% over the last day. Despite a 7-day increase of 7.5%, Dogecoin plummeted by 23% over the past month.
Is a Rebound Possible?
Though analyst Ali Martinez cautions traders about a possible pullback, others remain optimistic about Dogecoin price. Solbert Invest predicts a potential big move for DOGE, with $0.17 being the possible bottom. His notable forecasts for Dogecoin price include $0.57 and $0.82. He wrote on X, “DOGE is testing macro support—if it holds and we bounce, these targets could be in play.”
The surge in optimism for Dogecoin’s price is fueled by increased activity among DOGE “whales.” Recently, DOGE whales have snapped up over 150 million tokens, hinting at a potential price surge.
Furthermore, analyst Crypto Patel has identified the current levels as a key accumulation zone for DOGE, suggesting that investors are buying up the cryptocurrency in anticipation of a bullish rally.
Dogecoin Price May Reach $2.5 and Beyond
In Crypto Patel’s analysis, Dogecoin price is poised to reach $2.5 triggered by this accumulation zone. The technical analysis chart presented by Crypto Patel showcases Dogecoin repeating historical patterns. As per the chart, $0.320, $0.585, $1.501, and $2.5 are Dogecoin’s critical levels ahead.
Meanwhile, another popular platform, Crypto Daily Trade Signals, forecasted the DOGE’s bullish trajectory to $5. They presented an average directional index (ADX) chart for DOGE, highlighting the meme coin’s historical patterns that suggest a potential rebound. According to Dogecoin price prediction, the meme coin has the potential to hit $2020430 by 2025.
ADDING: I’m told by a Capitol Hill source that due to a technicality that requires bills that affect the budget to originate in the House, the Senate will need to vote on the joint resolution one more time.
