Jakarta (ANTARA) - Tokocrypto\u2019s Chief Executive Officer, Calvin\nKizana, assesses that the decline in cryptocurrency trading activity in\nIndonesia cannot be separated from ongoing global pressures affecting\nrisk assets markets.<\/p>\n
\u201cWe view the slowdown in cryptocurrency transactions in March 2026 as\nmore influenced by the rising global risk-off sentiment. Investors are\ncurrently more cautious due to high volatility, increasing geopolitical\nuncertainty, and the direction of The Fed\u2019s interest rate policies\nremaining a primary market concern,\u201d Calvin stated in a press release in\nJakarta on Monday.<\/p>\n
According to Calvin, this situation does not necessarily indicate a\nloss of investor interest in crypto assets. Instead, many market\nparticipants remain in the crypto ecosystem but opt for more defensive\nstrategies.<\/p>\n
\u201cInvestors are not fully exiting the crypto market. What is happening\nis a shift in strategy. Some investors are reducing exposure to more\nspeculative assets and choosing more liquid or stable assets, such as\nBitcoin, Ethereum, stablecoins, and gold-backed assets. This is better\ninterpreted as a wait-and-see phase,\u201d he added.<\/p>\n
The statement responds to the Financial Services Authority (OJK)\u2019s\nview that Indonesia\u2019s crypto assets market is facing pressures.<\/p>\n
In the April 2026 Monthly Commissioners\u2019 Meeting held on Tuesday\n(5\/5), the Executive Head of Financial Sector Technology Innovation\nSupervision, Digital Financial Assets, and Crypto Assets at OJK, Adi\nBudiarso, explained that the transaction decline is more due to market\nnormalisation following the post-Bitcoin halving price surge in\n2024.<\/p>\n
\u201cThis is certainly a high base effect, not a fundamental weakening,\nbut it aligns with global conditions, with the crypto market cap\ndropping around 45 percent from its all-time high of $4.2 trillion in\nOctober 2025 to about $2.3 trillion in March 2026,\u201d Adi said.<\/p>\n
OJK data shows that Indonesian crypto transactions in March 2026\nreached Rp28.04 trillion, comprising Rp22.24 trillion in the spot market\nand Rp5.8 trillion in derivatives.<\/p>\n
The value of domestic crypto assets trading in March 2026 also\nrecorded a 4.7 percent monthly decline from Rp24.33 trillion in February\n2026 to Rp22.24 trillion.<\/p>\n
Meanwhile, the total value of crypto assets trading transactions from\nJanuary to March 2026 reached Rp75.83 trillion.<\/p>\n
OJK also recorded that the number of Indonesian crypto consumers as\nof March 2026 has reached 21.37 million accounts, a slight increase\ncompared to the previous month.<\/p>\n
This indicates that confidence in the digital assets industry remains\nintact despite the market being in a consolidation phase.<\/p>\n
\u201cThere is still public confidence that the crypto market can provide\npositive impacts on their investment portfolios. The increase in\ninvestors amid the consolidation phase shows that many people still see\ncrypto as an opportunity to gain positive returns from trading\nactivities, which is ultimately expected to help improve economic\nconditions and their quality of life,\u201d Calvin said.<\/p>\n
He assesses that the prospects for crypto assets trading in Q2 2026\nhave the potential to improve gradually, especially after Bitcoin broke\nthrough the psychological level of $80,000 in early May 2026.<\/p>\n
\u201cBitcoin remains the primary barometer of crypto market sentiment.\nWhen BTC can hold above key levels like the $78,000-$80,000 range,\ninvestor confidence usually starts to improve. However, this recovery is\nlikely to remain selective as the market continues to monitor macro\nfactors, inflation, geopolitics, and global monetary policies,\u201d Calvin\nexplained.<\/p>\n
In addition to the recovery in major asset prices, Tokocrypto sees\nseveral catalysts that could drive renewed crypto trading activity in\nIndonesia. These factors include clarity on The Fed\u2019s interest rate\ndirection, easing geopolitical tensions, increasing global liquidity,\nand more competitive crypto tax policies.<\/p>\n
Calvin emphasised that adjustments to tax policies could be an\nimportant factor in strengthening the national crypto ecosystem.<\/p>\n
\u201cMore competitive taxes will help increase the attractiveness of\ntransactions through official domestic exchanges. This is important to\nensure trading activities remain on regulator-supervised platforms,\nthereby maintaining investor protection and market transparency,\u201d he\nsaid.<\/p>\n
From a regulatory perspective, OJK continues to strengthen oversight\nof the crypto assets industry. Standards such as Know Your Customer\n(KYC), Know Your Transaction (KYT), Customer Due Diligence (CDD), and\nEnhanced Due Diligence (EDD) are implemented to safeguard the\necosystem.<\/p>\n
Additionally, the crypto assets whitelist system limits the assets\nthat can be traded in Indonesia to minimise risks for investors.<\/p>\n
Therefore, Calvin advises retail investors to remain disciplined in\nfacing the still fluctuating market conditions.<\/p>\n
\u201cIn declining market conditions, the main focus for investors should\nnot be chasing quick profits, but preserving capital and managing risks.\nAvoid emotional decisions, limit leverage usage, understand assets\nbefore transacting, and use official platforms supervised by\nregulators,\u201d he concluded.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/tokocrypto-attributes-decline-in-indonesian-crypto-transactions-to-global-pressures-1778467996", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }