Ethereum onchain data suggests $2K ETH price is out of reach for now
Ether’s (ETH) price has been consolidating within a roughly $130 range over the last seven days as $2,000 remains strong overhead resistance.Data from Cointelegraph Markets Pro and Bitstamp shows that ETH price oscillates within a tight range between $1,810 and $1,960.ETH/USD daily chart. Source: Cointelegraph/TradingViewEther price remains pinned below $2,000 for several reasons, including declining Ethereum’s weak network activity and decreasing TVL, negative spot Ethereum ETF flows, and weak technicals.Negative spot Ethereum ETF outflowsThe underperformance in Ether’s price can be attributed to investors’ risk-off behavior, which is visible across the spot Ethereum exchange-traded funds (ETFs). ETH outflows from these investment products have persisted for more than two weeks.US-based spot Ether ETFs have recorded a streak of outflows for the last seven days, totaling $265.4 million, as per data from SoSoValue.Ether ETF flow chart. Source: SoSoValueAt the same time, other Ethereum investment products saw outflows totaling $176 million. This brings month-to-date outflows out of Ether ETPs to $265 million, in what CoinShares’s head of research, James Butterfill, described as the “worst on record.” He noted:“This also marks the 17th straight day of outflows, the longest negative streak since our records began in 2015.”Weak onchain activity hurts ETH priceTo understand the key drivers behind Ether’s weakness, it is essential to analyze Ethereum’s onchain metrics.The Ethereum network maintained its leadership based on the 7-day decentralized exchange (DEX) volume. However, the metric has been declining over the last few weeks, dropping by approximately 30% in the last seven days to reach $16.8 billion on March 17. Ethereum: 7-day DEX volumes, USD. Source: DefiLlamaKey weaknesses for Ethereum included an 85% drop in activity on Maverick Protocol and a 45% decline in Dodo’s volumes.Similarly, Ethereum’s total value locked (TVL) decreased 9.3% month-to-date, down 47% from its January high of $77 billion to $46.37 billion on March 11.Ethereum: total value locked. Source: DefiLlamaLido was among the weakest performers in Ethereum deposits, with TVL dropping 30% over 30 days. Other notable declines included EigenLayer (-30%), Ether.fi (-29%), and Maker (-28%).Ether’s bear flag target is at $1,530Meanwhile, Ether’s technicals show a potential bear flag on the four-hour chart, which hints at more downside in the coming days or weeks.Related: ETH may bottom at $1.6K, SEC delays multiple crypto ETFs, and more: Hodler’s Digest, March 9 – 15A bear flag is a downward continuation pattern characterized by a small, upward-sloping channel formed by parallel lines against the prevailing downtrend. It gets resolved when the price decisively breaks below its lower trendline and falls by as much as the prevailing downtrend’s height.ETH bulls are counting on support from the flag’s lower boundary at $1,880. A daily candlestick close below this level would signal a bearish breakout from the chart formation, projecting a decline to $1,530. Such a move would represent a 20% descent from the current price.ETH/USD daily chart. Source: Cointelegraph/TradingViewThe relative strength index is positioned in the negative region at 48, suggesting that the market conditions still favor the downside.The bulls will attempt a daily candlestick close above the flag’s middle boundary at $1,930 (embraced by the 50 SMA) to defend the support at $1,880. They must push the price above the flag’s upper limit of $1,970 to invalidate the bear flag chart pattern.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.
Move is now primed to grow DeFi
Opinion by: Alex Nguyen, CEO at VibrantXThe Move programming language’s origin is not super cypherpunk. Facebook (now Meta) created Move after the Libra/Diem team compared major smart contract languages (Bitcoin Script, Ethereum Virtual Machine bytecode languages) and decided their formidable in-house tech talent could make a new language built on years of private and public sector research.The original team, including founders Mo Shaikh, Avery Ching, and their engineering team, left Facebook to continue as a fully independent, open-source project headed up by Aptos Labs and supported by the Aptos Foundation.Importantly, Meta’s failed Libra experiment left us with a programming language specifically designed for crypto finance. Move on Aptos is now open-source, and the Aptos Foundation is a commercially driven organization that welcomes builders from all backgrounds.Move is now the best programming language for verifying the absence of bugs and checking for modifications and leaks, which is how most blockchains get hacked.This verification relies on two key features of Move on Aptos: (1) “backward compatibility” and (2) the concept of an “auditor at runtime.” Backward compatibility means future-proofingMove on Aptos is fast and cheap, creating a competitive user experience, especially for decentralized finance (DeFi) applications. Aptos aims for a high transaction throughput, with theoretical capabilities reaching up to 160,000 transactions per second (TPS) through its parallel execution engine, Block-STM.Aptos’ sub-second finality means transactions are confirmed quickly, enhancing the user experience in time-sensitive applications.To be fair, other chains also have these qualities. Move on Aptos is, however, designed to be “backward-compatible.” Future upgrades won’t disrupt existing projects. This helps developers feel more confident building long-term solutions without worrying about things breaking because of a Move upgrade. Move smart contracts are designed to be upgradeable without affecting the user experience, which is essential for mainstream adoption. This enables teams to implement bug fixes and new features with zero disruption. Recent: Crypto startups can’t just rely on solid tech to win VC funding: OKXSmart contract flexibility through Move on Aptos’ specific security features results in better and faster product shipping. Being more flexible, Move on Aptos can quickly adapt to support new ecosystems.“Bytecode” verification prevents leaksSolidity contract hacks have been prevalent over the years. When building Web3 technology for markets worth billions or even trillions of dollars, it’s crucial to have a security system that will protect projects from resource leaks, invalid memory access and other unauthorized modifications. As it was initially developed for Meta’s Diem project, Move is designed for safety, resource management and performance, making it attractive for developers looking for a secure yet robust language for smart contracts.When deploying code using Move, the code will be verified across several crucial coding conditions like proper resource management, type correctness and reference safety. No matter what happens to the code, it will be verified first to prevent any faulty or malicious smart contracts from running. This is the power of Move’s built-in bytecode verification.Real-time verification of the absence of bugsRenowned computer science pioneer Edsger Dijkstra noted, “Program testing can be used to show the presence of bugs, but never to show their absence!” Move’s formal verification capabilities let developers actually prove that there are no bugs in specific code according to preset specifications. MoveVM is less battle-tested than Ethereum’s virtual machine, but as Rushi Manche, founder of Movement Labs, has explained, Move requires much less code auditing. The MoveVM runtime can act as an “auditor at runtime.”The verifier inside the MoveVM ensures that the transaction code is not harmful and that it cannot create, duplicate or destroy resources not allowed by the signer(s) of the transaction. In other words, MoveVM is an “auditor at runtime” rather than a human smart contract auditor. Today, Move on Aptos is more than just a smart contract language. Move on Aptos is the longest-standing, most recognized and widely used version of Move, boasting one of the fastest-growing developer communities and a rapidly growing ecosystem of infrastructure, tooling and projects.Quickly verifying code before deployment created the conditions for the Move on Aptos ecosystem. From a flawed Web2 beginning, Move is now primed to grow DeFi.Opinion by: Alex Nguyen, CEO at VibrantX.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 'bullish cross' with 50%-plus average returns flashes again
Bitcoin’s (BTC) stochastic RSI has printed a bullish cross with a history of preceding sharp price rebounds. Stochastic RSI tracks momentum based on price movements relative to their range over a given period. This classic indicator operates between 0 and 100, with values above 80 considered overbought and below 20 deemed oversold. BTC/USDT weekly price chart. Source: TradingView/Merjin The TraderA crossover of the blue %K line above the orange %D line from an oversold region technically suggests growing upward momentum. Another $120,000 BTC price target emergesHistorical fractals show that each time the weekly stochastic RSI made the bullish cross, Bitcoin underwent sharp price recoveries within three to five months. Its gains have averaged at around 56% during such rebounds, ̛including rallies that extended beyond the 90%-return mark.BTC/USD weekly price chart. Source: TradingViewThat includes a roughly 90% rally from November 2022 lows, 92% gains in late 2023, and a staggering 98% move into Bitcoin’s recent all-time high of around $110,000 in January 2025.If history repeats, Bitcoin could see another parabolic rise by July or August, aligning with previous stochastic RSI bullish crosses that delivered outsized returns. Market analyst Merjin the Trader says Bitcoin’s price can reach at least $120,000 if the Stochastic RSI fractal plays out as intended.Source: Merjin The TraderMeanwhile, Bitcoin’s bullish reversal outlook receives further cues from its 50-week exponential moving average (50-week EMA; the red wave in the chart above) at around $77,230. The 50-week EMA wave has served as a strong accumulation zone for traders since October 2023.In case BTC’s price breaks decisively below the 50-week EMA, it could head toward the next support target at around the 200-week EMA (the blue wave), near $50,480, down approximately 40% from current prices.Bitcoin hedge funds are buying the dipAnother bullish sign comes from hedge fund accumulation during the ongoing price correction.Global crypto hedge funds are increasing their Bitcoin exposure, as seen in the latest rolling 20-day beta to BTC, which has surged to a four-month high. This suggests that institutional investors are buying into the dip, positioning themselves for potential upside.Global crypto hedge funds rolling 1-month beta to Bitcoin. Source: Glassnode/BloombergBeta measures how closely hedge fund returns track Bitcoin’s movements. When beta rises above 1.0, it indicates that the fund rises more than BTC’s price. Conversely, when the beta drops below 1.0, the fund moves less than Bitcoin. Related: Peak ‘FUD’ hints at $70K floor — 5 Things to know in Bitcoin this weekThe beta is now at a 4-month high, meaning hedge funds believe the recent Bitcoin dip is a buying opportunity and expect higher prices ahead, reinforcing the $120,000 price outlook as discussed above.As Cointelegraph reported, the $120,000+ is becoming a popular target for summer 2025.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.
Michael Saylor’s Strategy makes smallest Bitcoin purchase on record
Michael Saylor, the CEO of Strategy, has once again made headlines with his latest Bitcoin purchase. The world’s largest public corporate Bitcoin holder has announced its smallest Bitcoin purchase on record, buying 130 BTC for around $10.7 million in cash. This brings their total holdings to 499,226 BTC, acquired at an average price of $66,360 per BTC.
This latest purchase was made using proceeds from the “STRK ATM,” a new program launched by Strategy to raise up to $21 billion in fresh capital for further BTC acquisitions. With this purchase, Strategy is now only 774 BTC away from reaching their goal of holding 500,000 BTC.
Despite the recent dip in Bitcoin’s price, Saylor remains confident in the long-term potential of the cryptocurrency. In fact, this latest purchase is significantly smaller than their previous buys, with the smallest one being a 169 BTC purchase in August 2024.
Saylor’s strategy of consistently buying Bitcoin has proven to be successful, with the company’s Bitcoin yield currently at 6.9%. However, this is still lower than their target of 15% for 2025. This latest purchase also marks the smallest BTC purchase ever announced by Strategy, further solidifying their commitment to accumulating the digital asset.
So far in 2025, Strategy has acquired 51,656 BTC in seven announced purchases. This is a developing story, and more information will be added as it becomes available. Saylor’s bold moves in the crypto space continue to garner attention and it will be interesting to see what his next move will be. Stay tuned for updates on this exciting development.
Pavel Durov in Dubai: Telegram ‘exceeded’ its legal obligations
Telegram founder Pavel Durov said the company had always met and “exceeded” its legal obligations in moderation, cooperation and fighting crime. On March 17, the Telegram founder posted an update on the messaging application, saying he was already back in Dubai after spending months in France. Durov said the process is still ongoing but added that it “feels great to be home.”The post follows reports that the Telegram founder was allowed to leave France and return home. On March 15, a report citing anonymous sources said the executive had departed from France after getting approval from a French court to leave the country. Durov was arrested in Paris on Aug. 24 as part of an investigation into the instant messaging app. The executive was accused of running a platform that allowed illegal activities. Pavel Durov shared a post on Telegram after returning to Dubai. Source: Pavel DurovTelegram founder says company “exceeded” legal obligationsIn his post, Durov thanked the judges for allowing him to return to Dubai. The executive also expressed gratitude toward his lawyers and team, saying that they could show that the company had surpassed what was legally required of them. He wrote: “I want to thank the investigative judges for letting this happen, as well as my lawyers and team for their relentless efforts in demonstrating that, when it comes to moderation, cooperation, and fighting crime, for years, Telegram not only met but exceeded its legal obligations.”Durov also thanked his supporters across the globe. He said he was grateful for the community’s support throughout the ordeal. “There is nothing our billion-strong community can’t overcome,” Durov added. Related: Free speech and online privacy: Pavel Durov’s rise to the topTelegram founder’s return to Dubai fuels Toncoin rallyDurov’s release fueled a rally for Toncoin, the native crypto asset of The Open Network (TON), a project heavily associated with Telegram. On March 15, Toncoin surged from $2.93 to $3.46, reaching a seven-day high of $3.59 on March 17. At the time of writing, the crypto asset is trading at $3.41, according to CoinGecko. TON Society, a grassroots movement supporting the TON blockchain, celebrated Durov’s release. The group said they’ve stood behind the executive since his arrest, praising the Telegram founder’s “commitment to freedom of speech and transparency.”The group previously wrote an open letter to French authorities, urging them to release the Telegram founder. Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why
Crypto market’s biggest risks in 2025: US recession, circular crypto economy
While most analysts expect the crypto bull cycle to continue until the end of 2025, concerns over an economic recession in the United States, along with crypto’s “circular” economy, may still threaten crypto valuations.Despite the recent market correction, most crypto analysts expect the bull cycle to peak after the third quarter of 2025, with Bitcoin (BTC) price predictions ranging from $160,000 to above $180,000.Beyond external concerns, such as a potential recession in the world’s largest economy, crypto’s biggest industry-specific risk is the “circular” nature of its economy, according to Arthur Breitman, the co-founder of Tezos.“Within the industry, the main risk is that the industry is still very much in search of grounding. It’s all still very circular,” Breitman told Cointelegraph.“If you look at DeFi, for example, the point of finance is to finance something […], but if the only thing that DeFi finances is more DeFi, then that’s circular,” said Breitman, adding:“If the only reason people want to buy your token is because they feel other people will want to buy this token, that’s circular.”This is in stark contrast to the stock market, which is “built on revenue-generating businesses,” making the crypto industry’s “lack of grounding” one of the main industry threats, Breitman added.Other industry insiders have also criticized the state of the crypto economy, specifically related to the latest memecoin meltdowns, which are siphoning liquidity from more established cryptocurrencies.Solana outflows. Source: deBridge, Binance ResearchSolana was hit by over $485 million worth of outflows in February after the recent wave of memecoin rug pulls triggered an investor flight to “safety,” with some of the capital flowing into memecoins on the BNB Chain, such as the Broccoli memecoin, inspired by the Changpeng Zhao’s dog.Related: Rising $219B stablecoin supply signals mid-bull cycle, not market topUS recession fears are crypto’s biggest external risk: Tezos co-founderBeyond industry-specific events, larger macroeconomic concerns, including a potential US recession, threaten traditional and cryptocurrency markets.“In terms of macro events, I still think we could see a recession,” said Breitman, adding:“There’s a lot of bullish winds for the market, but there’s also a lot of traditional recession indicators which have been flashing for a while now. So I don’t think you can rule it out.”Cryptocurrency markets still trade in significant correlation with tech stocks, meaning that a recession will cause a widespread sell-off, he added.Related: Libra, Melania creator’s ‘Wolf of Wall Street’ memecoin crashes 99%The current trade war concerns, driven by US President Donald Trump’s import tariffs and continued retaliatory measures, have reignited concerns over a potential recession.Source: PolymarketOver 40% of market participants expect a recession in the US this year, up from just 22% a month ago on Feb. 17, according to the largest decentralized predictions market, Polymarket.Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why
Brazilian lawmaker introduces bill to regulate Bitcoin salaries
Brazilian lawmaker, Luiz Philippe de Orleans e Bragança, has recently introduced a bill that could potentially revolutionize the way employees are paid in Brazil. The bill, known as PL 957/2025, proposes the regulation of cryptocurrency payments for wages, remunerations, and labor benefits.
Under this new legislation, employers would be authorized to pay their employees using cryptocurrencies such as Bitcoin. This move could potentially open up a whole new world of possibilities for both employers and employees in Brazil.
The bill, which was filed on March 12, would allow for voluntary and partial salary payments in cryptocurrencies, with the remaining portion being paid in the national currency, the Brazilian real. This means that employees would have the option to receive a portion of their salary in Bitcoin, while still receiving the majority of their pay in the traditional currency.
However, the bill does have some limitations. It prohibits employees from receiving their full salary in crypto, capping such payments at 50%. This is to ensure that employees are still receiving a significant portion of their pay in the national currency.
The bill also includes provisions for expatriate employees and foreign workers, allowing them to receive their full salary in crypto. Additionally, independent service providers would also have the option to receive their full payment in cryptocurrency, as long as certain contractual provisions are met.
The conversion of the crypto payments into the Brazilian real would be based on the exchange rate officially established by an institution authorized by the Central Bank of Brazil. This ensures that employees are receiving fair and accurate compensation for their work.
This proposed legislation has the potential to greatly benefit both employers and employees in Brazil. It would provide more flexibility and options for payment, while also promoting the use and adoption of cryptocurrencies in the country.
Luiz Philippe de Orleans e Bragança, a descendant of Brazil’s former royal family, is serving his second term as a federal deputy for São Paulo. He has also shown support for Truth Social, the social media platform owned by US President Donald Trump.
This is an exciting development in the world of cryptocurrency and we will continue to monitor the progress of this bill. Stay tuned for further updates on this developing story.
Crypto ETPs see $1.7B in outflows, longest streak since 2015
Cryptocurrency exchange-traded products (ETPs) continued seeing massive selling last week, recording the fifth week of outflows in a row, with $1.7 billion leaving the market. After seeing slightly softened outflows of $876 million in the previous week, crypto ETP liquidations accelerated during the past trading week, bringing the total five-week outflows to $6.4 billion, CoinShares reported on March 17.The ongoing outflow strike has also marked the 17th straight day of outflows, the longest negative streak since CoinShares started records in 2015, CoinShares’ James Butterfill wrote.Despite notable negative sentiment, year-to-date (YTD) inflows remain positive at $912 million, he added.Bitcoin ETP outflows: $5.4 billion in five weeksAfter seeing $756 million outflows in the first week of March, Bitcoin (BTC) ETPs saw increased selling in the trading week from March 10 to March 14, seeing a further $978 million outflows.The five-week selling streak brought total BTC ETP outflows to $5.4 billion, leaving just $612 million of YTD inflows by March 14.Flows by asset (in millions of US dollars). Source: CoinSharesBoth Ether (ETH) and Solana (SOL) ETPs saw $175 million and $2.2 million outflows, respectively. XRP (XRP) ETPs continued to go against the trend, seeing a further $1.8 million in inflows.This is a developing story, and further information will be added as it becomes available.Magazine: XRP to $4 next? SBF’s parents seek Trump pardon, and more: Hodler’s Digest, Jan. 26 – Feb. 1