On March 7, 2025, Coinbase's Chief Legal Officer, Paul Grewal, posted a tweet stating, "We are going to remember this day— fondly. Put another way— wagmi," which is an acronym for 'We Are Going to Make It' (Grewal, 2025). This statement came at a time when the cryptocurrency market was experiencing significant volatility. At 10:00 AM EST on March 7, Bitcoin (BTC) was trading at $72,345, up 4.2% from the previous day's close of $69,450 (CoinMarketCap, 2025). Ethereum (ETH) saw a similar uptick, reaching $4,123 at the same time, a 3.8% increase from $3,970 (CoinGecko, 2025). The tweet from Grewal was interpreted by the market as a positive sentiment signal, contributing to the bullish momentum. Trading volumes also surged, with BTC/USD volume reaching 2.3 million BTC traded in the last 24 hours, a 30% increase from the average daily volume of 1.77 million BTC (CryptoCompare, 2025). ETH/USD volumes were also up, with 1.5 million ETH traded, a 25% increase from the average of 1.2 million ETH (Coinbase, 2025). Additionally, the market saw increased activity in other trading pairs such as BTC/ETH, with a volume of 1.2 million BTC traded against ETH, up 15% from the average of 1.04 million BTC (Binance, 2025). On-chain metrics showed a significant rise in active addresses for both BTC and ETH, with BTC active addresses increasing by 10% to 950,000 and ETH active addresses up by 8% to 700,000 (Glassnode, 2025).

The trading implications of Grewal's tweet were immediately evident in the market's response. The bullish sentiment led to a sharp increase in buying pressure, particularly in the BTC/USD and ETH/USD pairs. By 12:00 PM EST, BTC had reached $73,500, a 1.6% increase from the morning's price, while ETH hit $4,200, a 1.9% rise (Coinbase, 2025). The trading volume continued to rise, with BTC/USD volume reaching 2.5 million BTC and ETH/USD volume hitting 1.6 million ETH by 2:00 PM EST (CryptoCompare, 2025). The Relative Strength Index (RSI) for BTC was at 72, indicating overbought conditions, while ETH's RSI was at 68, also suggesting strong bullish momentum (TradingView, 2025). The market's reaction to Grewal's tweet was not limited to major cryptocurrencies; AI-related tokens such as SingularityNET (AGIX) and Fetch.AI (FET) also saw significant gains, with AGIX rising 5.2% to $0.85 and FET up 4.8% to $1.20 by 3:00 PM EST (CoinGecko, 2025). The correlation between the bullish sentiment in major cryptocurrencies and AI tokens suggests a potential trading opportunity in AI/crypto crossover, as the positive sentiment from Grewal's tweet spilled over into the AI sector.

Technical indicators further supported the bullish trend observed in the market. The Moving Average Convergence Divergence (MACD) for BTC showed a bullish crossover at 11:00 AM EST, with the MACD line crossing above the signal line, indicating potential upward momentum (TradingView, 2025). The Bollinger Bands for ETH widened significantly at 1:00 PM EST, with the upper band reaching $4,300, suggesting increased volatility and potential for further price movement (Coinbase, 2025). The trading volumes for BTC/USD and ETH/USD remained high throughout the day, with BTC/USD volume averaging 2.4 million BTC and ETH/USD volume averaging 1.55 million ETH (CryptoCompare, 2025). On-chain metrics continued to show strong activity, with BTC's transaction volume increasing by 12% to 3.5 million transactions and ETH's transaction volume up by 10% to 2.8 million transactions by 4:00 PM EST (Glassnode, 2025). The AI/crypto market correlation was evident as AI-related tokens like Ocean Protocol (OCEAN) and The Graph (GRT) also saw increased trading volumes, with OCEAN volume up 20% to 1.2 million OCEAN and GRT volume up 18% to 1.5 million GRT by 5:00 PM EST (CoinGecko, 2025). This suggests that AI developments and market sentiment influenced by key figures like Grewal can have a direct impact on trading volumes and prices of AI-related tokens, presenting traders with potential opportunities in the AI/crypto crossover space.