Kevin O’Leary reveals key catalysts that could reverse the bearish trend
The cryptocurrency market has been facing intense pressure lately, largely due to the ongoing trade war between the United States and China, as well as other macroeconomic factors. This has led to speculation that the bull run may be coming to an end and a bear market could be on the horizon.
In a recent interview with Cointelegraph, Kevin O’Leary, also known as “Mr. Wonderful,” shared his insights on the current state of the market and what the future may hold. Despite the current turbulence, O’Leary remains optimistic about the potential of Bitcoin (BTC) and believes that it will end the year on a high note. He points to a few key catalysts that could help reverse the current bearish trend.
One of the main issues discussed in the interview is the need for regulatory clarity, especially when it comes to stablecoins. O’Leary is particularly interested in the GENIUS Act, which he believes will be passed by the US Congress in the near future. “We have been waiting for almost seven years for this legislation. I have a feeling it’s going to make it, and when that happens, it’s a game changer,” O’Leary stated.
The GENIUS Act aims to provide clear regulations for stablecoins, which are cryptocurrencies backed by a stable asset such as the US dollar. This move is expected to bring more stability and legitimacy to the crypto market, which could help mitigate some of the current risks. O’Leary also shared details about his personal crypto portfolio, which includes a diverse mix of assets.
To learn more about O’Leary’s views on the current state of the market and his personal approach to investing in crypto, be sure to watch the full interview on our channel.
In related news, US President Donald Trump recently made headlines by stating that the US will become a “Bitcoin superpower” as the price of BTC broke a four-month downtrend. This further highlights the potential for growth and adoption of cryptocurrencies in the future.
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Canary files for PENGU ETF
Asset manager Canary Capital has filed to list an exchange-traded fund (ETF) holding Pengu (PENGU), the governance token of the Pudgy Penguins non-fungible token (NFT) project, US regulatory filings show. The ETF is the latest in a slew of filings for new US investment products tied to spot cryptocurrencies, including altcoins and memecoins. According to the filing, the ETF is intended to hold spot PENGU as well as various Pudgy Penguins NFTs. It would be the first US ETF to hold NFTs if approved. Additionally, “[t]he Trust will also hold other digital assets, such as SOL and ETH, that are necessary or incidental to the purchase, sale and transfer of the Trust’s PENGU and Pudgy Penguins NFTs,” the filing said. Launched in December, PUDGY has a roughly $438-million market capitalization as of March 20, according to CoinGecko.On March 18, Canary filed to list the first US ETF holding Sui (SUI), the native token of the Sui layer-1 blockchain network.Pudgy Penguins is among the most popular NFT brands. Source: CointelegraphRelated: Canary Capital proposes first Sui ETF in US SEC filingPolicy reversalThe US Securities and Exchange Commission has acknowledged dozens of filings for new crypto investment products since US President Donald Trump took office on Jan. 20. They include filings for proposed ETFs for native L1 tokens such as Solana (SOL) and XRP (XRP), as well as for memecoins such as Dogecoin (DOGE) and Official Trump (TRUMP). Some industry analysts are skeptical that ETFs holding non-core cryptocurrencies will see a meaningful uptake among traditional investors. “Pengu ETF announced. Price barely goes up. New ETFs for crypto assets have become an irrelevant joke,” crypto researcher Alex Krüger said in a March 20 post on the X platform. “Most crypto ETFs will fail to attract AUM and cost issuers money.”Since starting his second presidential term, Trump has reversed the US government’s stance on digital assets, promising to make America “the world’s crypto capital.” Under his predecessor, former US President Joe Biden, US regulatory agencies brought upward of 100 enforcement actions against crypto firms.On March 20, asset manager Volatility Shares launched two Solana futures ETFs, the Volatility Shares Solana ETF (SOLZ) and the Volatility Shares 2X Solana ETF (SOLT). They use financial derivatives to track SOL’s performance with one- and two-time leverage, respectively. Spot SOL ETFs are still awaiting regulatory approval. Magazine: Crypto fans are obsessed with longevity and biohacking — Here’s why
Venture capital firms invest $400M in TON blockchain
Update (March 20 at 4:41 PM UTC): This article has been updated to clarify that the token sale was not directed at the TON Foundation. The Open Network Foundation, also known as TON Foundation, said several venture capital firms invested more than $400 million in the TON blockchain, signaling growing interest in the Telegram messaging ecosystem. Sequoia Capital, Ribbit, Benchmark, Draper Associates, Kingsway, Vy Capital, Libertus Capital, CoinFund, SkyBridge, Hypersphere and Karatage participated in the investment by purchasing Toncoin (TON), the native cryptocurrency of The Open Network. TON Foundation described the token purchases as strategic partnerships that will help expand the TON ecosystem, though no further details were provided.TON blockchain is a decentralized network that supports the development of Mini Apps for the Telegram ecosystem. Although TON was initially developed by Telegram’s founders, it now operates as an independent chain. As of January, Toncoin is Telegram’s only accepted crypto for app services.TON blockchain has seen significant growth over the past year, with native accounts rising from 4 million to 41 million. TON Foundation claims that the Toncoin cryptocurrency has more than 121 million unique holders. According to the announcement, TON Foundation seeks to onboard 30% of active Telegram users to the blockchain in the next three years. By March, Telegram had 1 billion monthly active users, doubling in just under three years. Source: DemandsageBenchmark partner Peter Fenton said Telegram’s user base is expected to eclipse 1.5 billion by 2030. Related: Toncoin surges as Pavel Durov leaves France after monthsVenture capital deals on the riseVenture capital funding continues to pour into blockchain projects as the industry gains newfound legitimacy in the United States and other markets. According to Simon Wu, partner at the San Francisco-based venture firm Cathay Innovation, crypto and blockchain projects “are gaining traction as viable solutions, especially in financial sectors like asset management, transactions, and tokenization.”As legitimacy grows, capital follows.Cointelegraph reported earlier this month that crypto venture capital deals topped $1.1 billion in February amid renewed interest in decentralized finance services.Blockchain projects specializing in business services and DeFi attracted the lion’s share of venture financing in February. Source: The TIEThe latest Cointelegraph VC Roundup also showcased growing venture capital interest in decentralized physical infrastructure networks and real-world assets.Related: Crypto VCs are ‘especially bullish’ on DePIN, RWAs — HashKey Capital
Bitcoin Coinbase premium returns — Is $90K BTC price in the cards?
The Bitcoin (BTC) Coinbase premium index reached its highest level since Feb. 20 after BTC prices rallied 5% on March 19. Bitcoin’s Coinbase premium index. Source: CryptoQuantReturn of Coinbase premium highlights Bitcoin accumulationThe Coinbase premium index measures the price difference between Coinbase and Binance prices for BTC pairs, where a higher value signals US investors dictating stronger buying pressure. The index gauges US retail interest, but Woonminkyu, a verified analyst on CryptoQuant, said that it may also signal strong accumulation from US institutions and whales. Coinbase premium analysis by Woominkyu. Source: CryptoQuantThe analyst explained that the 30-day EMA of the index crossed the 100-day EMA level, which implies the presence of large players. The analyst added, “Past trends show that when this indicator rises, BTC bull markets tend to continue. High likelihood of an accumulation phase, making it a key moment to monitor BTC’s momentum.”Coinbase Pro was integrated into Coinbase Advanced (a platform used by companies like Strategy and Tesla for BTC purchases) in early 2024. Therefore, it is plausible that the Coinbase premium also represents US institutional interest to a certain extent.Related: $77K likely the Bitcoin bottom as QT is ‘effectively dead’ — AnalystsCan Bitcoin reclaim $90K in March?One of the major positives observed on BTC’s 1-day chart is the bullish reclaim on the 200-day exponential moving average (orange line). When prices remain above the 200-day EMA level, the probability of an uptrend increases for BTC to form higher highs in the chart. Bitcoin 1-day chart. Source: Cointelegraph/TradingViewAfter a successful breakout above $85,000 resistance, turning the level into support further improves the possibility of a $90,000 retest. On the daily chart, Bitcoin price also bounced from the lower range of the Bollinger Bands (BB), with the metric’s moving average remaining above the $90,000 level. The bullish narrative is invalidated if a daily candle closes below $85,000 before the end of the week. Michael Van de Poppe, the founder of MN Consultancy, shared a bullish stance and said that he expects a continued run to retest $90,000 over the next few days. However, Max, the founder of BecauseBitcoin, said BTC might have a “little more work to do.” The analyst said the EMA cloud indicators continue suppressing BTC below the $88,000 and $90,000 range. Max added, “Bitcoin is uptrending on every time frame except the Daily & Weekly (RSI Similarly, crypto trader Koroush AK suggested traders remain cautious until a shift in market structure occurs. The trader noted that Bitcoin (BTC) prices are currently at a critical level below $90,000; the chance of a correction below $73,000 remains a threat. Related: Why is Bitcoin price up today?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 says US will be 'Bitcoin superpower' as BTC price breaks 4-month downtrend
Bitcoin (BTC) sought to reinforce higher support at the March 20 Wall Street open as bulls broke out of a key downtrend.BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewTrump pledges to make US “Bitcoin superpower”Data from Cointelegraph Markets Pro and TradingView showed BTC/USD returning above $86,000.Now circling the daily open, Bitcoin continued to build on strength which came the day prior thanks to encouraging macroeconomic signals from the US Federal Reserve.Rumors of a further announcement on crypto by the US government administration helped BTC price action to reach two-week highs.President Donald Trump was due to deliver virtual remarks on the third day of the Blockworks Digital Asset Summit 2025 event in New York.Trump doubled down on his pledge not to sell confiscated US Bitcoin, as well as end regulatory mechanisms such as Operation Chokepoint 2.0. No new information on BTC purchases, however, was delivered. He said:“Together we will make America the undisputed Bitcoin superpower and the crypto capital of the world.”In so doing, BTC/USD reclaimed two key moving average trend lines, including the 200-day simple moving average (SMA), a key support component during bull markets.Analyzing the current landscape, popular trader and analyst Rekt Capital focused on a similar reclaim of the 200-day exponential moving average (EMA).“Bitcoin has most recently Daily Closed above the 200 EMA and in fact is now in the process of retesting it into new support,” he wrote in part of his latest content on X, calling the trend line a “long-term gauge of investor sentiment towards BTC.”BTC/USD 1-day chart with 200 SMA, EMA. Source: Cointelegraph/TradingViewA further X post revealed a more impressive feat from bulls, with the daily chart showing a breakout from a downtrend on Bitcoin’s relative strength index (RSI) — something in place since November 2024.“Bitcoin has broken the Daily RSI Downtrend dating back to November 2024,” Rekt Capital confirmed.BTC/USD 1-day chart. Source: Rekt Capital/XAnalysis: Markets may “wake up” to hawkish FedContinuing on the macro picture, trading firm QCP Capital was cool on the outlook. Related: Peak ‘FUD’ hints at $70K floor — 5 Things to know in Bitcoin this weekIt warned that the initial risk-asset bounce on the back of the Fed decision could easily reverse.“Beyond the immediate excitement, the Fed’s tone was notably cautious. Policymakers downgraded economy growth projections to 1.7% (a 0.4% reduction), while raising their inflation forecast to 2.8%, signaling a growing risk of stagflation,” it wrote in its latest bulletin to Telegram channel subscribers. “Additionally, the Fed’s dot plot revealed a more hawkish shift from the one in December, with the number of officials forecasting no rate cuts in 2025 increasing to four.”Fed target rate probabilities for June FOMC meeting. Source: CME GroupThe latest data from CME Group’s FedWatch Tool showed markets retaining bets of interest rate cuts occurring no sooner than June.“Will the rally sustain, or will investors wake up to the reality that risks remain firmly in play?” QCP queried.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 becomes first US sitting president to speak at a crypto conference
US President Donald Trump has been making headlines in the crypto industry recently, as he becomes the first sitting president to speak at a crypto conference. On March 20, Trump addressed the Blockworks Digital Asset Summit in a pre-recorded statement, where he reiterated his commitment to making the US the “crypto capital of the world.”
In his speech, Trump praised the recent regulatory changes in the crypto industry and acknowledged the potential for pioneers in the field to improve the banking and payment system, promote privacy and security, and drive economic growth. He also highlighted the role of stablecoins in expanding the dominance of the US dollar for years to come.
This is not the first time Trump has shown support for the crypto industry. He has signed several pro-crypto executive orders, including one that established a Bitcoin strategic reserve and another that commissioned a working group on digital assets.
However, not everyone in the crypto community is thrilled about Trump’s involvement. The White House Crypto Summit, which took place on March 7, received mixed reactions from investors and executives. While some saw it as a positive step towards regulatory clarity, others criticized it as a gathering of lobbyists pushing for state-approved surveillance tokens.
The summit also sparked a decline in the price of Bitcoin, which dropped by 7.3% in the days following the event. This was partly due to the Bitcoin strategic reserve order, which stated that the government could only acquire more BTC through budget-neutral strategies.
Despite the mixed reactions, it is clear that the crypto industry is gaining more attention and support from the US government. And with Trump’s commitment to making the US the “crypto capital of the world,” it will be interesting to see how the industry continues to evolve and grow in the coming years.
Russia civic chamber proposes dedicated fund for confiscated crypto assets
Amid the growing adoption of cryptocurrency reserves in countries like the United States, legal activists in Russia are pushing to create a potential crypto fund.Evgeny Masharov, a member of the Russian Civic Chamber, has proposed creating a government cryptocurrency fund that would include assets confiscated from criminal proceedings.The projected cryptocurrency fund would aim for revenues for the government, targeting social projects, Masharov said, according to a March 20 report by the local news agency TASS.“The proceeds from the cryptocurrency fund can then be used for social, environmental and educational projects,” he reportedly stated.“Seized crypto should benefit the state”Masharov’s proposal came amid Russian officials progressing with new legislation on recognizing cryptocurrencies as property for the purposes of criminal procedure legislation.Alexander Bastrykin, Chairman of Russia’s Investigative Committee, said that a related draft bill was sent to the government for consideration, the local news agency RBC reported on March 19.“Cryptocurrencies confiscated as part of criminal proceedings must work for the benefit of the state,” Masharov said while commenting on the proposed legislation.Evgeny Masharov, a member of the Russian Civic Chamber. Source: Oprf.ru“For these purposes, a special fund can be created, putting cryptocurrencies on its balance,” Masharov said, expressing confidence that many of the seized crypto assets could see their market capitalization “rising significantly over time.”Russian authorities have been seizing crypto assets for yearsMasharov’s proposal to turn confiscated crypto assets for the benefit of the state follows years of the development of related legislation in Russia.Russian prosecutors have been pushing legal initiatives to allow the government to seize crypto obtained from criminal activity since at least 2021, but there has not been a clear framework set in place.Related: Russia using Bitcoin, USDt for oil trades with China and India: ReportIn the meantime, the Russian government has not missed the opportunity to confiscate millions in cryptocurrency from illegal cases, sometimes involving law enforcement officials. Apparently, Russia’s current laws do not provide standards on where and how such funds should be distributed.Bank of Russia governor is against crypto investmentThe idea of a potential social crypto fund in Russia may sound similar to initiatives like a Bitcoin (BTC) strategic reserve, which currently targets holding confiscated BTC exclusively.In the meantime, Russia’s central bank governor, Elvira Nabiullina, has previously strongly opposed the idea of potential investments in crypto by the Bank of Russia.An excerpt from the US Strategic Bitcoin Reserve fact sheet. Source. White House“Cryptocurrency investment doesn’t make any sense for the Central Bank in terms of preserving value since it’s a very volatile asset,” Nabiullina reportedly said in December 2024.Magazine: Crypto has 4 years to grow so big ‘no one can shut it down’: Kain Warwick, Infinex
Tax agencies will double down on crypto before Bitcoin hits $1M
Opinion by: Robin Singh, CEO of KoinlyIn the race between regulation and Bitcoin (BTC) all-time highs, there is no doubt tax agencies will double down on their crypto-tracking systems well before Bitcoin hits $1 million.Crypto investors shouldn’t become complacent or assume they can skate by until the million-dollar price tag. In addition to their laser focus on the future, they are becoming skilled at scrutinizing the past. Many jurisdictions have the power to backtrack on previous years, and if tax authorities realize how much they’ve missed, they won’t just let it slide…This could spell trouble for misinformed Bitcoiners who have already begun spending their profits.Tax agencies will catch up through automated data-sharingGovernments are still in this weird gray area where crypto tax rules can change anytime. Take the US Internal Revenue Service (IRS), for example. In a shock move, as of 2025, the IRS now mandates that investors use the wallet-by-wallet cost tracking method, no longer allowing the universal wallet method. The latter is far more labor-intensive than the former but hands the IRS more data it craves.Though automated data sharing with tax agencies might not be as extensive as stock market data, it’s only a matter of time before crypto data from centralized exchanges catches up. Several crypto exchanges, including Coinbase and Binance.US, issue Forms 1099-MISC to the IRS for users with more than $600 in rewards in a financial year.An end to the honesty systemThen there’s the global village challenge, with each tax agency worldwide taking its own approach. For instance, the Australian Tax Office (ATO) automates stock cost and sale reporting through pre-filled data for taxpayers. Crypto data isn’t, however, included in the pre-fill. Instead, any activity on a centralized exchange triggers an alert on the taxpayer’s tax return, indicating that the ATO is aware of the crypto activity. This leaves it up to the taxpayer to be honest about whether they’ve made capital gains or losses during the financial year.Whether you’ve made any sales or simply bought crypto, consistent alerts over several years without reporting from the taxpayer will likely increase the risk of an audit.Worldwide, the honesty system is on its deathbed. Once tax authorities have advanced their crypto monitoring systems, they can retroactively review previous years if they choose to. The ATO already has a reasonably intensive data-matching program with centralized exchanges in the jurisdiction.If you value your sanity, a multi-year audit of your crypto portfolio is the last thing you want to deal with. Every tax authority is catching up, and accountants want to protect clients from getting caught out as compliance measures become more sophisticated.Tax authorities to strengthen cooperation in the coming yearsOver the coming years, we should expect to see an increase in global tax data sharing between jurisdictions, something we’re already starting to see. In March 2024, Australia’s and Indonesia’s governments reached an agreement to exchange tax information, with one of the key focuses being the use of crypto.A few months earlier, in November 2023, 47 national governments, including the United Kingdom, Brazil, Germany and Japan, committed to the Crypto-Asset Reporting Framework (CARF) and planned to activate exchange agreements for information sharing by 2027.Recent: Indian crypto holders face 70% tax penalty on undisclosed gainsDon’t operate under the assumption that decentralized finance and non-fungible tokens are flying under the radar, either. Tax authorities are fully aware of the gains made on decentralized exchanges. Agencies like the IRS have already introduced guidance to collect user data from non-custodial brokers, though this has been delayed until 2027. While tracking might be more challenging, and some investors believe their assets are untraceable until they are moved to centralized exchanges, tax authorities are already catching on. It’s not a “crypto industry knows best” situation. Tax authorities are bringing in more experts from the crypto space to help them understand how people might try to bypass the system. Opinion by: Robin Singh, CEO of Koinly.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.