Crypto PAC-supported candidates make a final push to Florida voters
Two Republican candidates supported by at least a combined $1.5 million in media spending from a cryptocurrency-backed political action committee (PAC) are making final pleas to voters turning out for special elections in Florida congressional districts.On April 1, voters in Florida’s 1st and 6th congressional districts will head to the polls to decide whether to keep Republican representatives or hand over control to Democrats for the first time in roughly 30 years. The Defend American Jobs PAC — an affiliate of Fairshake, which poured more than $131 million in the 2024 US election cycle — has spent a combined $1.5 million on media for Republicans Jimmy Patronis and Randy Fine, running against Democrats Gay Valimont and Josh Weil, respectively.Source: Gay Valimont for CongressThough the Florida congressional districts have historically favored Republican candidates, Democrats Valimont and Weil both raised significantly more than Patronis and Fine as of March — a reported roughly $6.5 million and $10 million against the Republicans’ $1 million and $1 million, respectively. These amounts do not reflect the media buys from PACs like Defend American Jobs or Tesla CEO Elon Musk’s America PAC, which spent more than $20,000 for texting services in the two congressional elections.As of March 31, there were four vacancies for seats in the US House of Representatives following two Democratic lawmakers passing away and two Republicans resigning in anticipation of positions with the Trump administration. If Democrats were to keep their existing two seats and flip the two in Florida, Republicans’ majority in the chamber would narrow to 217 to 218 — not changing majority control, but likely influencing how the House would consider legislation and policy.Among the crypto-related legislation being considered in Congress included a market structure bill and stablecoin regulation. Some lawmakers have suggested that they intended to get both bills passed before Congress goes on recess in August.Related: Florida bill proposes strict rules against online gamblingMichigan Representative Shri Thanedar, a Democrat who described himself as largely self-funded and may have benefitted from crypto-backed PAC money in his 2024 race, spoke to Cointelegraph on March 27 about the role the industry could have on future elections. Protect Progress — another Fairshake-affiliated PAC — spent more than $1 million on a media buy to support the Michigan representative in his August 2024 primary. He defeated Republican Martell Bivings in November with 68% of the vote.“I was surprised to see those ads,” Rep. Thanedar told Cointelegraph, referring to Protect Progress’ media outreach. “I was not aware that such an ad would be appearing in support of my campaign.”The Michigan lawmaker added:“Crypto is not unique to this. There are multiple industries […] that have PACs and Super PACs and independent expenditures. All of that money, the dark money in our politics, has to go. As long as we have the dark money in politics, that is going to impact our politicians.” Looking to the 2026 midtermsAfter many Democratic and Republican candidates espousing “pro-crypto” views won in the 2024 elections, Fairshake spokesperson Josh Vlasto said the PAC was “keeping [its] foot on the gas” in the future. Major firms like Coinbase and Ripple Labs have contributed tens of millions of dollars to the PAC.As of January, Fairshake reported holding more than $116 million to spend on candidates in 2025 and 2026. Vlasto declined to comment on the April 1 special elections but said after the January primaries, the PAC was “proud to support [Patronis and Fine] with TV ad campaigns.” Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions
'Dire consequences' if Musk accesses SEC — US lawmaker
The top Democrat on the US House Financial Services Committee issued a warning after reports suggested that Tesla CEO Elon Musk’s “government efficiency” team would be given access to data and systems at the Securities and Exchange Commission (SEC).In a March 31 notice, Representative Maxine Waters reiterated a warning from a letter she sent to acting SEC Chair Mark Uyeda in February in response to the Musk-led Department of Government Efficiency’s reported access to sensitive SEC information. DOGE is an advisory body to US President Donald Trump rather than an official department established by Congress. According to the California lawmaker, giving Musk such access would have “dire consequences” for US investors and present conflicts of interest.“[…] as a result of this takeover, the agency is at greater risk of data breaches and market disruptions, both of which could result in investors, including retirees, losing their hard-earning savings,” said Waters, adding: “Not only that, Musk, who has been the subject of repeated SEC enforcement actions for breaking securities laws and regulations, can benefit his own businesses and harm his competitors by using his access to confidential business information and his influence over the agency’s operations.”Waters’ warning followed multiple reports suggesting that Musk’s DOGE team contacted the SEC and would be given access to the commission’s systems and data. Since joining the Trump administration as a “special government employee,” Musk has spearheaded efforts to fire staff at multiple government agencies, including the US Agency for International Development (USAID) and the watchdog Consumer Financial Protection Bureau (CFPB). Many of DOGE’s actions face lawsuits in federal court from parties alleging the group’s actions were illegal or unconstitutional.Related: Can the law keep up with Musk and DOGE?As one of the major US financial regulators, the SEC is responsible for oversight and regulation of many aspects of the cryptocurrency industry, including whether many tokens qualify as securities. Under Uyeda and US President Donald Trump, the commission has dropped several lawsuits alleging violations of securities laws against crypto firms since January.‘Cost-cutting’ strategy at SEC?It’s unclear whether the DOGE team intends to “purge” the SEC of employees Musk considers not loyal to the Trump administration, as has been implied in some lawsuits involving firings at other government agencies. Cointelegraph contacted acting chair Uyeda and SEC Commissioner Caroline Crenshaw for comment but did not receive a response by the time of publication.DOGE’s reported infiltration of the SEC comes as the US Senate Banking Committee is expected to vote on whether to advance the nomination of Paul Atkins, Trump’s pick to chair the agency. At his March 27 confirmation hearing, Atkins said he would “definitely” be willing to work with DOGE if confirmed. Democratic lawmakers at the hearing questioned Atkins’ potential conflicts of interest with the crypto industry.Magazine: SEC’s U-turn on crypto leaves key questions unanswered
Bitcoin whale accumulation trend mirrors 2020-era bullish activity after BTC price bounces off $81K
Bitcoin (BTC) price dipped below its ascending channel pattern over the weekend, dropping to $81,222 on March 31. The top cryptocurrency is set to register its worst quarterly return since 2018, but a group of whale entities are mirroring a 2020-era bull run signal. Bitcoin 1-day chart. Source: Cointelegraph/TradingViewIn a recent quick take post, onchain analyst Mignolet explained that “market-leading” whale addresses holding between 1,000 to 10,000 BTC exhibited a high correlation with Bitcoin price. The analyst said that these entities are resilient to market volatility and show accumulation behavior, mirroring patterns of the 2020 bull cycle.Bitcoin whale accumulation analysis. Source: CryptoQuantIn the current bull market, this distinct pattern emerged three times and is marked by Bitcoin whales’ rapid BTC accumulation, even as retail investors doubted a positive directional bias. These periods were riddled with bearish market sentiment and preceded substantial price surges, suggesting that whales were positioning themselves ahead of the recovery. While BTC currently exhibited a price decline, the analyst said, “There are no signs yet that the market-leading whales are exiting.”As shown in the chart above, “Pattern No. 3” witnessed a similar rate of accumulation, but BTC price remained sideways. Related: Bitcoin trader issues’ overbought’ warning as BTC price eyes $84KCan Bitcoin flip $84,000 after the CME gap?As the New York trading session started on March 31, BTC rallied to close the CME futures gap that formed over the weekend. The CME gap highlights the difference between the closing price of the BTC futures on Friday and the opening price on Sunday evening. Bitcoin CME gap analysis. Source: Cointelegraph/TradingViewWhile Bitcoin started this week out on a bullish tip, there are a handful of US economic events that could have an impact on the price. April. 1, JOLTS Job Openings: A metric reflecting labor market demand; a decline might signal weakness.April 2, US tariff rollout: termed “Liberation Day,” with 20% and larger tariffs coming on for up to 25 countries. April 4, Non-farm payrolls (NFP), Unemployment rate and Federal Reserve Chair Jerome Powell’s speech.Bitcoin 4-hour chart. Source: Cointelegraph/TradingViewBTC’s immediate point of interest is to flip the $84,000 level into support for a bullish continuation. Reclaiming $84,000 could push BTC prices above the 50-day exponential moving average, which might bolster a short-term rally to the supply zone between $86,700 and $88,700. On the contrary, prolonged consolidation under $84,000 strengthens its resistance characteristics, which might eventually lead to further corrections to downside liquidity areas in the $78,200 to $76,560 zone. Related: Bitcoin’s ‘digital gold’ claim challenged as traders move into bonds and gold hits new highsThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Bitcoin could reduce dominance of US dollar — BlackRock
The US dollar could lose its status as the world’s reserve currency to Bitcoin or other digital assets if the United States does not get its debt under control, according to BlackRock CEO Larry Fink.Fink wrote in his Annual Chairman’s Letter to Investors that “decentralized finance is an extraordinary innovation” that makes “markets faster, cheaper, and more transparent.” But “that same innovation could undermine America’s economic advantage if investors begin seeing Bitcoin as a safer bet than the dollar.”According to Trading Economics, the US debt equaled 122.3% of the country’s gross domestic product in 2023. That is a considerably higher percentage than the 105% observed in 2018. Moody’s Ratings retains the US’s AAA credit rating but has downgraded its outlook to negative, indicating a possible future rating downgrade.The US’s Joint Economic Committee wrote that as of March 5, the country’s gross national debt was $36.2 trillion, growing $1.8 trillion, or roughly $4.9 billion per day, over the past year and $12.8 trillion in the past five years. The Bipartisan Policy Center warned this month that the US could default on its debt as early as July 2025.Bitcoin (BTC) has been branded as a safe haven for investors who are looking to avoid the perils of fiat currency, including inflation. Some believe that the end of the debt ceiling suspension could lead to a Bitcoin price boom. Others think, as Fink has stated, that the dangers of the national debt could increase Bitcoin adoption.Related: Bitcoin reserve won’t solve US debt crisis: Think tank co-founderIn 2025, cryptocurrency has gained prominence as an asset class due to adoption by countries such as the US and companies like Strategy. However, some argue that stablecoins could, in fact, increase the dominance of the US dollar.Fink: Tokenization is democratizationIn the letter, Fink says that “tokenization is democratization” with the technological innovation “enabling instant buying, selling, and transferring without cumbersome paperwork or waiting periods.”If every asset ends up being tokenized, Fink said, “it will revolutionize investing. Markets wouldn’t need to close. Transactions that currently take days would clear in seconds. And billions of dollars currently immobilized by settlement delays could be reinvested immediately back into the economy, generating more growth.”Related: Centralization and the dark side of asset tokenization — MEXC execTokenization democratizes access, shareholder voting, and yield, Fink wrote. According to RWA.xyz, the tokenized real-world assets market amounts to $19.6 billion. There are currently around 93,000 asset holders, with 174 issuers. Industry projections indicate that the market could reach $4 trillion to $30 trillion by 2030.BlackRock’s own BUIDL real-world tokenized asset fund is currently the largest such fund available for trading, with Tether Gold and Franklin Templeton’s BENJI funds coming in second and third place, respectively.Magazine: Tokenizing music royalties as NFTs could help the next Taylor Swift
Price analysis 3/31: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, TON
Bitcoin (BTC) fell 4.29% last week, but the bulls started a recovery by pushing the price back above $83,500 on March 31. However, traders are likely to remain on edge until April 2, when new US trade tariffs are set to kick in. The event could trigger a sharp, knee-jerk reaction on either side of the market.Traders remain cautious in the near term, but a minor positive is that lower levels are attracting buyers. Cryptocurrency exchange-traded products (ETPs) witnessed modest inflows of $226 million last week, CoinShares reported on March 31. Daily cryptocurrency market performance. Source: Coin360Strategy took advantage of the pullback in Bitcoin by adding 22,048 Bitcoin for $1.92 billion at an average price of $86,969. After the latest purchase, the company holds 528,185 Bitcoin bought for roughly $35.63 billion.Could Bitcoin break above the stiff overhead resistance, pulling select altcoins higher? Let’s analyze the charts to find out.S&P 500 Index price analysisThe S&P 500 Index (SPX) broke above the 20-day exponential moving average (5,706) on March 24, but that proved to be a bull trap.SPX daily chart. Source: Cointelegraph/TradingViewThe price turned down sharply on March 26 and broke below the 5,600 support. Both moving averages are sloping down, and the relative strength index (RSI) is in the negative territory, indicating an advantage to sellers. There is solid support at 5,500, but if the level breaks down, the index could tumble to 5,400 and subsequently to 5,100.This negative view will be invalidated if the price turns up from the current level and breaks above 5,800. Such a move suggests that the index may have bottomed out in the near term.US Dollar Index price analysisThe US Dollar Index (DXY) has been trading below the 20-day EMA (104.46), indicating that the sentiment remains negative.DXY daily chart. Source: Cointelegraph/TradingViewThe bears will try to sink the index to 103.37, which is a critical level to watch out for. Buyers are expected to defend the 103.37 level with all their might because if they fail in their endeavor, the index could plunge to 101.Contrarily, a break and close above the 20-day EMA suggests that the bulls are trying to make a comeback. The index may rise to 105.42 and then to the 50-day simple moving average (106.09).Bitcoin price analysisBitcoin remains under pressure as bears are trying to sink the price to the critical support at $80,000. A minor positive in favor of the bulls is that they are attempting to arrest the decline at $81,100.BTC/USDT daily chart. Source: Cointelegraph/TradingViewThe bulls will try to push the price to the resistance line, which is likely to attract strong selling by the bears. If the price turns down from the resistance line, the likelihood of a break below $80,000 increases. The BTC/USDT pair could slump to $76,606 and eventually to $73,777.On the contrary, a break and close above the resistance line suggests that the bears are losing their grip. The pair could pick up momentum above $89,000 and rally toward $95,000.Ether price analysisEther (ETH) has reached the vital support at $1,754, from where the bulls are trying to start a relief rally.ETH/USDT daily chart. Source: Cointelegraph/TradingViewThe bears will try to halt the recovery attempt at the 20-day EMA ($1,980). If the price turns down sharply from the 20-day EMA, it increases the possibility of a break below $1,754. That could sink the ETH/USDT pair to $1,550.The first sign of strength will be a break and close above the breakdown level of $2,111. The pair will then complete a bullish double-bottom pattern, which has a target objective of $2,468.XRP price analysisXRP (XRP) has dropped to the critical $2 support, which is likely to attract solid buying by the bulls. XRP/USDT daily chart. Source: Cointelegraph/TradingViewAny bounce is expected to face selling at the moving averages. If the price turns down from the moving averages, it heightens the risk of a break below $2. If that happens, the XRP/USDT pair will complete a bearish head-and-shoulders pattern. There is minor support at $1.77, but if the level gets taken out, the pair could collapse to $1.27.Time is running out for the bulls. If they want to prevent the downside, they will have to quickly drive the price above the moving averages. The pair may then travel to the resistance line.BNB price analysisBNB’s (BNB) narrow range resolved to the downside with a break and close below the moving averages on March 29.BNB/USDT daily chart. Source: Cointelegraph/TradingViewThe BNB/USDT pair has support at the 38.2% Fibonacci retracement level of $591 and then at the 50% retracement level of $575. If the price rebounds off the support, the bulls will try to propel the pair above the moving averages and the $644 resistance. If they manage to do that, the pair could rally to $686.Contrarily, a break and close below $575 could sink the pair to the 61.8% retracement level of $559. A deeper pullback is likely to delay the next leg of the up move.Solana price analysisSolana (SOL) is finding support near $120, indicating that the buyers are fiercely defending the level.SOL/USDT daily chart. Source: Cointelegraph/TradingViewThe first sign of strength will be a break and close above the 20-day EMA ($133). That opens the doors for a rise to the 50-day SMA ($148), which may again act as a stiff resistance. However, if buyers pierce the resistance, the SOL/USDT pair could rally to $180.If sellers want to strengthen their position, they will have to pull the price below the $120 to $110 support zone. If they manage to do that, the pair could start the next leg of the downtrend toward $80.Related: XRP bulls in ‘denial’ as price trend mirrors previous 75-90% crashesDogecoin price analysisDogecoin (DOGE) is trying to take support at the $0.16 support, but a weak bounce suggests a lack of demand from the bulls.DOGE/USDT daily chart. Source: Cointelegraph/TradingViewThe DOGE/USDT pair could skid to $0.14, where the buyers are expected to step in. Any bounce-off of $0.14 is expected to face selling at the moving averages. If the price turns down from the moving averages, it increases the possibility of a break below $0.14. If that happens, the pair could plummet to $0.10.Buyers will have to push and maintain the price above $0.20 to suggest that the pair may have formed a floor at $0.14. The pair may then ascend to $0.24.Cardano price analysisCardano (ADA) has slipped to the uptrend line, which is an important near-term support to watch out for.ADA/USDT daily chart. Source: Cointelegraph/TradingViewThe downsloping 20-day EMA ($0.71) and the RSI in the negative territory signal a slight advantage to the bears. A close below the uptrend line could start a downward move toward $0.50.On the other hand, a bounce off the uptrend line could push the ADA/USDT pair toward the moving averages. Buyers will be back in control after they propel and maintain the price above the 50-day SMA ($0.75).Toncoin price analysisToncoin (TON) is getting squeezed between the 20-day EMA ($3.63) and the overhead resistance at $4.14.TON/USDT daily chart. Source: Cointelegraph/TradingViewThe upsloping 20-day EMA and the RSI in the positive territory suggest the path of least resistance is to the upside. If buyers drive the price above $4.14, the TON/USDT pair is likely to pick up momentum and climb to $5 and later to $5.65.This positive view will be invalidated in the near term if the price turns down from the overhead resistance and breaks below the 50-day SMA ($3.46). That could sink the pair to $3.30 and later to $2.81.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Trump’s focus on cartels highlights new risks for digital assets
Opinion by: Genny Ngai and Will Roth of Morrison Cohen LLPSince taking office, the Trump administration has designated several drug and violent cartels as Foreign Terrorist Organizations (FTOs) and Specially Designated Global Terrorists (SDGTs). US President Donald Trump has also called for the “total elimination” of these cartels and the like. These executive directives are not good developments for the cryptocurrency industry. On their face, these mandates appear focused only on criminal cartels. Make no mistake: These executive actions will cause unforeseen collateral damage to the digital asset community. Crypto actors, including software developers and investors, may very well get caught in the crosshairs of aggressive anti-terrorism prosecutions and follow-on civil lawsuits.Increased threat of criminal anti-terrorism investigations The biggest threat stemming from Trump’s executive order on cartels is the Department of Justice (DOJ). Almost immediately after President Trump called for the designation of cartels as terrorists, the DOJ issued a memo directing federal prosecutors to use “the most serious and broad charges,” including anti-terrorism charges, against cartels and transnational criminal organizations.This is a new and serious development for prosecutors. Now that cartels are designated as terrorist organizations, prosecutors can go beyond the traditional drug and money-laundering statutes and rely on criminal anti-terrorism statutes like 18 U.S.C. § 2339B — the material-support statute — to investigate cartels and anyone who they believe “knowingly provides material support or resources” to the designated cartels. Why should the crypto industry be concerned with these developments? Because “material support or resources” is not just limited to providing physical weapons to terrorists. “Material support or resources” is broadly defined as “any property, tangible or intangible, or service.” Anyone who knowingly provides anything of value to a designated cartel could now conceivably violate § 2339B. Even though cryptocurrency platforms are not financial institutions and never take custody of users’ assets, aggressive prosecutors may take the hardline view that software developers who design crypto platforms — and those who fund these protocols — are providing “material support or resources” to terrorists and launch harmful investigations against them.This is not some abstract possibility. The government has already demonstrated a willingness to take this aggressive position against the crypto industry. For example, the DOJ indicted the developers of the blockchain-based software protocol Tornado Cash on money laundering and sanction charges and accused them of operating a large-scale money laundering operation that laundered at least $1 billion in criminal proceeds for cybercriminals, including a sanctioned North Korean hacking group.Recent: Crypto crime in 2024 likely exceeded $51B, far higher than reported: ChainalysisMoreover, the government already believes that cartels use cryptocurrency to launder drug proceeds and has brought numerous cases charging individuals for laundering drug proceeds through cryptocurrency on behalf of Mexican and Colombian drug cartels. TRM Labs, a blockchain intelligence company that helps detect crypto crime, has even identified how the Sinaloa drug cartel — a recently designated FTO/SDGT — has used cryptocurrency platforms to launder drug proceeds.The digital asset community faces real risks here. Putting aside the reputational damage and costs that come from defending criminal anti-terrorism investigations, violations of § 2339B impose a statutory maximum term of imprisonment of 20 years (or life if a death occurred) and monetary penalties. Anti-terrorism statutes also have extraterritorial reach, so crypto companies outside the US are not immune to investigation or prosecution.Civil anti-terrorism lawsuits will escalate The designation of cartels as FTOs/SDGTs will also increase the rate at which crypto companies will be sued under the Anti-Terrorism Act (ATA). Under the ATA, private citizens, or their representatives, can sue terrorists for their injuries, and anyone “who aids and abets, by knowingly providing substantial assistance, or who conspires with the person who committed such an act of international terrorism.” Aggressive plaintiffs’ counsel have already relied on the ATA to sue cryptocurrency companies in court. After Binance and its founder pled guilty to criminal charges in late 2023, US victims of the Oct. 7 Hamas attack in Israel sued Binance and its founder under the ATA, alleging that the defendants knowingly provided a “mechanism for Hamas and other terrorist groups to raise funds and transact illicit business in support of terrorist activities” and that Binance processed nearly $60 million in crypto transactions for these terrorists. The defendants filed a motion to dismiss the complaint, which was granted in part and denied in part. For now, the district court permits the Ranaan plaintiffs to proceed against Binance with their aiding-and-abetting theory. Crypto companies should expect to see more ATA lawsuits now that drug cartels are on the official terrorist list. Vigilance is key Crypto companies may think that Trump’s war against cartels has nothing to do with them. The reality is, however, that the effects of this war will be widespread, and crypto companies may be unwittingly drawn into the crossfire. Now is not the time for the digital asset community to relax internal compliance measures. With anti-terrorism statutes in play, crypto companies must ensure that transactions with all FTOs/SDGTs are identified and blocked, monitor for new terrorist designations, and understand areas of new geographical risks.Opinion by: Genny Ngai and Will Roth of Morrison Cohen LLP. This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
XRP funding rate flips negative — Will smart traders flip long or short?
On March 19, Ripple CEO Brad Garlinghouse announced that the company had been cleared by the US Securities and Exchange Commission regarding an alleged $1.3 billion unregistered securities offering. Following the news, XRP (XRP) surged to $2.59, but the gains gradually faded as the cryptocurrency experienced a 22% correction, dropping to $2.02 by March 31.Investors worry that a deeper price correction is imminent, as XRP is trading 39% below its all-time high of $3.40 from Jan. 16. Additionally, XRP perpetual futures (inverse swaps) indicate strong demand for leveraged bearish bets. Demand for bearish bets increased amid XRP’s declineThe funding rate turns positive when longs (buyers) seek more leverage and negative when demand for shorts (sellers) dominates. In neutral markets, it typically fluctuates between 0.1% and 0.3% per seven days to offset exchange risks and capital costs. Conversely, negative funding rates are considered strong bearish signals.XRP futures 8-hour funding rate. Source: Laevitas.chCurrently, the XRP funding rate stands at -0.14% per eight hours, translating to a 0.3% weekly cost. This indicates that bearish traders are paying for leverage, reflecting weak investor confidence in XRP. However, traders should also assess XRP margin demand to determine whether the bearish sentiment extends beyond futures markets.Unlike derivative contracts, which always require both a buyer and a seller, margin markets let traders borrow stablecoins to buy spot XRP. Likewise, bearish traders can borrow XRP to open short positions, anticipating a price drop.XRP margin long-to-short ratio at OKX. Source: OKXThe XRP long-to-short margin ratio at OKX stands at 2x in favor of longs (buyers), near its lowest level in over six months. Historically, extreme confidence has pushed this metric above 40x, while readings below 5x favoring longs are typically seen as bearish signals.President Trump boosted XRP awareness, paving the way for future price gainsBoth XRP derivatives and margin markets signal bearish momentum, even as the cryptocurrency gains mainstream media attention. Notably, on March 2, US President Donald Trump mentioned XRP, along with Solana (SOL) and Cardano (ADA), as potential candidates for the country’s digital asset strategic reserves.Google search trends for XRP and BTC. Source: GoogleTrends / CointelegraphFor a brief period, Google search trends for XRP outpaced those of BTC between March 2 and March 3. A similar spike occurred on March 19 following Ripple CEO Garlinghouse’s comments on the anticipated SEC ruling. As the third-largest cryptocurrency by market capitalization (excluding stablecoins), XRP benefits from its early adoption and high liquidity.Related: Is XRP price around $2 an opportunity or the bull market’s end? Analysts weigh inInteractive Brokers, a global traditional finance brokerage, announced on March 26 its expansion of cryptocurrency offerings to include SOL, ADA, XRP, and Dogecoin (DOGE). Since 2021, the platform has supported trading in Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) pairs.The wider adoption by traditional intermediaries, combined with rising Google search trends, further reinforces XRP’s position as a leading altcoin. It also sets the stage for increased inflows once macroeconomic conditions improve and retail investors actively seek altcoins with strong marketing appeal as alternatives to traditional finance, such as Ripple.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Bitcoin trader issues 'overbought' warning as BTC price eyes $84K
Bitcoin (BTC) ticked higher at the March 31 Wall Street open as traders stayed risk-averse on the short-term BTC price outlook.BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewBitcoin RSI teases bearish continuationData from Cointelegraph Markets Pro and TradingView showed local highs of $83,914 on Bitstamp, with BTC/USD up 1.5% on the day.With hours to go until the quarterly candle close, Bitcoin saw some much-needed relief, even as US stocks opened lower.Market momentum remained tied to upcoming US trade tariffs set to go live on April 2, with gold also slipping after touching fresh all-time highs of $3,128 per ounce.XAU/USD 1-hour chart. Source: Cointelegraph/TradingViewCommenting on BTC price action, many market participants nonetheless favored caution.“Retesting our 84k area of interest,” popular trader Roman wrote in his latest X analysis of the 4-hour BTC/USD chart. Roman referenced the relative strength index (RSI) while forecasting a return to levels closer to the $80,000 mark.“To me it looks like we should begin to head lower as we have a break down and bearish retest on LTF,” he continued. “RSI also retesting the 50 area with stoch overbought. HTF still leans bearish as well.”BTC/USD 4-hour chart with RSI data. Source: Roman/XPopular trader and analyst Rekt Capital went further on RSI signals, revealing a support retest on daily timeframes after a key breakout from a multimonth downtrend.“The $BTC RSI is trying to retest its Downtrend as support. Meanwhile BTC’s price action is also facing a Downtrend,” he summarized to X followers.“If the RSI successfully retests its Downtrend… That would display emerging strength & price would be able to break its own Downtrend.”BTC/USD 1-day chart with RSI data. Source: Rekt Capital/XEarlier, Cointelegraph reported on various BTC price metrics combining to produce a lackluster picture of the current phase of the bull market, hinting that the correction would continue.BTC price targets, meanwhile, now extend to $65,000, with prediction platforms seeing even lower.BTC price analysis draws comparisons to late 2024Both March and Q1 performance thus left much to be desired.Related: Worst Q1 for BTC price since 2018: 5 things to know in Bitcoin this weekAmid a broad lack of upside catalysts, BTC/USD traded down 10.8% year-to-date at the time of writing and 1.1% lower for March, per data from monitoring resource CoinGlass.BTC/USD monthly returns (screenshot). Source: CoinGlassIn its latest analytics report, “Bitfinex Alpha,” released on March 31, crypto exchange Bitfinex acknowledged that 2025 was Bitcoin’s worst first quarter in years.“Any buying momentum is currently being capped at the $89,000 level—coinciding with the previous range lows seen in December 2024, and acting as a firm resistance level to further gains,” contributors observed. “This resistance is also coinciding with further downside in equities, with the S&P 500 closing the week 1.5 percent lower.”BTC/USD 1-week chart (screenshot). Source: BitfinexThe report highlighted the growing correlation between Bitcoin and US stocks.“Despite the turbulence, price action in recent weeks appears to have carved out a consolidation range between $78,000 and $88,000. Notably, signs of capitulation are easing, with fewer reactive sellers present and long-term holders beginning to accumulate once more,” it added.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.