Rising $219B stablecoin supply signals mid-bull cycle, not market top
The current crypto market correction is merely the middle of the bull cycle, not the top, based on the steadily growing stablecoin supply, which may signal more incoming investment according to analysts.The cumulative stablecoin supply has surpassed $219 billion, suggesting that the current cycle is still far from its top.Source: IntoTheBlockHistorically, stablecoin supply peaks have aligned with crypto cycle tops, according to a March 14 X post by crypto intelligence platform IntoTheBlock, which wrote:“In April 2022, supply hit $187B—just as the bear market started. Now it’s at $219B and still rising, suggesting we’re likely still mid-cycle.”Increasing stablecoin inflows to crypto exchanges can signal incoming buying pressure and growing investor appetite, as stablecoins are the main investor on-ramp from fiat to the crypto world. Still, Ether (ETH) price is down over 52% over the past three months, after it peaked above $4,100 on Dec. 16, 2024, and analysts are eying another decline below $1,900, a “robust” demand zone that may bring more investment into the world’s largest cryptocurrency.Related: Bitcoin needs weekly close above $81K to avoid downside ahead of FOMCCrypto market will likely lack direction ahead of FOMC meeting: analystDespite the rising stablecoin supply, the crypto market may continue to lack direction ahead of next week’s Federal Open Market Committee (FOMC) meeting.Next week’s FOMC meeting may be decisive for crypto markets, which remain influenced by macroeconomic developments, according to Stella Zlatareva, dispatch editor at Nexo digital asset investment platform.Zlatareva told Cointelegraph:“Bitcoin’s movement below key technical levels, mirroring the S&P 500’s trajectory, highlights the market’s cautious tone as traders await key economic data for direction, including U.S. retail sales and the FOMC meeting.”“All eyes are set on next Wednesday’s FOMC meeting, anticipating insights into U.S. monetary policy and potential interest rate adjustments, especially given the recent declines in U.S. PPI and initial jobless claims figures, which point towards a slowing economy,” she added.Related: FTX liquidated $1.5B in 3AC assets 2 weeks before hedge fund’s collapseThe predictions come days ahead of the next FOMC meeting scheduled for March 19. Markets are currently pricing in a 98% chance that the Fed will keep interest rates steady, according to the latest estimates of the CME Group’s FedWatch tool.Source: CME Group’s FedWatch toolDespite the potential for short-term volatility, investors remain optimistic for the rest of 2025, VanEck predicted a $6,000 cycle top for Ether’s price and a $180,000 Bitcoin price during 2025.Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why
Telegram founder Pavel Durov given permission to leave France
Pavel Durov, the founder of the popular messaging app Telegram, has recently made headlines after receiving permission from a French court to leave the country and relocate to Dubai. This decision has sparked discussions about jurisdiction, privacy, and the responsibilities of tech leaders in combating illegal activities on their platforms.
According to reports, Durov was granted permission to leave France on March 13 and has since relocated to Dubai, a city known for its business-friendly environment and lack of extradition agreements with many nations. This move comes after Durov faced legal challenges in France, where he was being investigated for his role in the distribution of illegal content on Telegram.
The exact terms of the court’s decision are still unclear, but sources have confirmed that Durov left France with the authorities’ approval. This news has raised questions about the power and reach of governments in regulating tech companies and their platforms.
Telegram has been at the center of controversy in recent years, with many governments accusing the app of being a platform for illegal activities such as terrorism and child pornography. Durov has consistently defended the app’s privacy policies and has refused to comply with government requests for user data.
This latest development has reignited debates about the responsibilities of tech leaders in monitoring and regulating content on their platforms. While some argue that they have a duty to prevent illegal activities, others believe that it is not their responsibility to police user-generated content.
As this story continues to unfold, it serves as a reminder of the complex relationship between technology, privacy, and government regulation. It also highlights the importance of finding a balance between protecting user privacy and preventing illegal activities on online platforms.
We will continue to monitor this developing story and provide updates as more information becomes available. In the meantime, it will be interesting to see how this decision will impact the future of Telegram and other tech companies facing similar challenges.
Trade war puts Bitcoin’s status as safe-haven asset in doubt
Several years back, many in the crypto community described Bitcoin as a “safe-haven” asset. Fewer are calling it that today.A safe-haven asset maintains or increases in value in times of economic stress. It can be a government bond, a currency like the US dollar, a commodity like gold, or even a blue-chip stock. A spreading global tariff war set off by the United States, as well as troubling economic reports, have sent equity markets tumbling, and Bitcoin too — which wasn’t supposed to happen with a “risk off” asset. Bitcoin has suffered compared with gold, too. “While gold prices are up +10%, Bitcoin is down -10% since January 1st,” noted the Kobeissi Letter on March 3. “Crypto is no longer viewed as a safe haven play.” (Bitcoin dropped even further last week.)But some market observers are saying that this wasn’t really unexpected.Bitcoin (white) and gold (yellow) price chart from Dec. 1 to March 13. Source: Bitcoin Counter FlowWas Bitcoin ever a safe haven?“I have never thought of BTC as a ‘safe haven,’” Paul Schatz, founder and president of Heritage Capital, a financial advisory firm, told Cointelegraph. “The magnitude of the moves in BTC are just too great to be put in the haven category although I do believe investors can and should have an allocation to the asset class in general.”“Bitcoin is still a speculative instrument for me, not a safe haven,” Jochen Stanzl, Chief Market Analyst at CMC Markets (Germany), told Cointelegraph. “A safe haven investment like gold has an intrinsic value that will never be zero. Bitcoin can go down 80% in major corrections. I wouldn’t expect that from gold.”Crypto, including Bitcoin, “has never been a ‘safe haven play’ in my opinion,” Buvaneshwaran Venugopal, assistant professor in the department of finance at the University of Central Florida, told Cointelegraph.But things aren’t always as clear as they first appear, especially when it comes to cryptocurrencies. Related: Bitcoin dominance hits new highs, alts fade: ResearchOne could argue that there are different kinds of safe havens: one for geopolitical events like wars, pandemics, and economic recessions, and another for strictly financial events like bank collapses or a weakening dollar, for instance. The perception of Bitcoin may be changing. Its inclusion in exchange-traded funds issued by major asset managers like BlackRock and Fidelity in 2024 widened its ownership base, but it may also have changed its “narrative.”It is now more widely seen as a speculative or “risk on” asset like a technology stock.“Bitcoin, and crypto as a whole, have become highly correlated with risky assets and they often move inversely to safe-haven assets, like gold,” Adam Kobeissi, editor-in-chief of the Kobeissi Letter, told Cointelegraph. There’s a lot of uncertainty where BTC is heading, he continued, amid “more institutional involvement and leverage,” and there’s also been a “narrative shift from Bitcoin being viewed as ‘digital gold’ to a more speculative asset.” One might think that its acceptance by traditional finance giants like BlackRock and Fidelity would make Bitcoin’s future more secure, which would boost the safe haven narrative — but that’s not necessarily the case, according to Venugopal:“Big companies piling into BTC does not mean it has become safer. In fact, it means BTC is becoming more like any other asset that institutional investors tend to invest in.”It will be more subject to the usual trading and draw-down strategies that institutional investors use, Venugopal continued. “If anything, BTC is now more correlated to risky assets in the market.” Bitcoin’s dual natureFew deny that Bitcoin and other cryptocurrencies are still subject to big price swings, further propelled recently by growing retail adoption of crypto, particularly from the memecoin craze, “one of the largest crypto-onboarding events in history,” Kobeissi noted. But perhaps that is the wrong thing to focus on.“Safe havens are always longer-term assets, which means that short-term volatility is not a factor in that characteristic,” Noelle Acheson, author of the Crypto is Macro Now newsletter, told Cointelegraph. The big question is whether BTC can hold its value longer-term against fiat currencies, and it’s been able to do that. “The numbers bear out its validity – on just about any four-year timeframe, BTC has outperformed gold and US equities,” said Acheson, adding:“BTC has always had two key narratives: it is a short-term risk asset, sensitive to liquidity expectations and overall sentiment. It is also a longer-term store of value. It can be both, as we are seeing.”Another possibility is that Bitcoin could be a safe haven against some happenings but not others. “I see Bitcoin as a hedge against issues in TradFi,” like the downturn that followed the collapse of the Silicon Valley Bank and Signature Bank two years ago, and “US Treasury risks,” Geoff Kendrick, global head of digital assets research at Standard Chartered told Cointelegraph. But for some geopolitical events, Bitcoin might still trade as a risk asset, he said.Related: Is altseason dead? Bitcoin ETFs rewrite crypto investment playbookGold can serve as a hedge against geopolitical issues, like trade wars, while both Bitcoin and gold are hedges against inflation. “So both are useful hedges in a portfolio,” Kendrick added.Others, including Ark Investment’s Cathie Wood, agree that Bitcoin acted as a safe haven during the SVB and Signature bank runs in March 2023. When SVB collapsed on March 10, 2023, Bitcoin’s price was around $20,200, according to CoinGecko. It stood close to $27,400 a week later, roughly 35% higher.BTC price fell on March 10 before bouncing back a week later. Source: CoinGeckoSchatz doesn’t see Bitcoin as a hedge against inflation. The events of 2022, when FTX and other crypto firms collapsed and the crypto winter began, “damages that thesis dramatically.” Maybe it’s a hedge against the US dollar and Treasury bonds? “That’s possible, but those scenarios are pretty dark to think about,” Schatz added.No time for over-reactionKobeissi agreed that short-term fluctuations in asset classes “often have minimal relevance over a long-term time period.” Many of Bitcoin’s fundamentals remain positive despite the current drawdown: a pro-crypto US government, the announcement of a US Bitcoin Reserve, and a surge in crypto adoption. The big question for market players is: “What is the next major catalyst for the run to continue?” Kobeissi told Cointelegraph. “This is why markets are pulling back and consolidating: it’s a search for the next major catalyst.”“Ever since macro investors started seeing BTC as a high-volatility, liquidity-sensitive risk asset, it has behaved like one,” added Acheson. Moreover, “it is almost always short-term traders that set the last price, and if they’re rotating out of risk assets, we will see BTC weakness.”Markets are struggling in general. There’s “the specter of renewed inflation and an economic slowdown weighing heavy on expectations” that are also affecting Bitcoin’s price. Acheson further noted:“Given this outlook, and BTC’s dual nature of risk asset and long-term safe haven, I’m surprised it’s not falling further.” Venugopal, for his part, says Bitcoin hasn’t been a short-term hedge or safe haven since 2017. As for the long-term argument that Bitcoin is digital gold because of its 21 million BTC supply cap, that only works “if a large fraction of investors collectively expect Bitcoin to increase in value over time,” and “this may or may not be true.” Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why
Ether may fall below $1.9k “robust” demand zone, analysts eye capitulation
Ether risks another decline below $1,900, which may open up a significant amount of investor demand, which may catalyze Ether’s recovery from its three-month downtrendEther (ETH) price fell over 52% during its three-month downtrend after it peaked above $4,100 on Dec. 16, 2024, TradingView data shows.While another correction below $1,900 is on the horizon, this may unleash significant buying pressure, according to Juan Pellicer, senior research analyst at IntoTheBlock.ETH/USD, 1-day chart. Source: Cointelegraph/TradingView“Onchain metrics reveal a robust demand zone for ETH just below $1,900,” the analyst told Cointelegraph, adding:“Historically, around 4.3 million ETH were bought in the $1,848–$1,905 range, signaling substantial support. If ETH drops below this level, capitulation risks rise, as demand beyond this zone appears much thinner.”In/Out of the Money around price. Source: IntoTheBlockIn financial markets, capitulation refers to investors selling their positions in a panic, leading to a significant price decline and signaling an imminent market bottom before the start of the next uptrend.Related: Bitcoin needs weekly close above $81K to avoid downside ahead of FOMCEther unlikely to see more downside below $1.9k amid growing whale accumulation: analystWhile Ether may see a temporary correction below $1,900, it is unlikely to fall much lower due to the growing whale accumulation, according to Nicolai Sondergaard, research analyst at Nansen.”It does seem likely that if ETH is unable to hold the $1,900 level that we’d see further downside,” the analyst told Cointelegraph, adding:“Supposedly whales have been accumulating, and WLFI also holds substantial amounts of ETH, and regardless, price action has not been favorable.”This behavior was also seen in recent options data where larger players/institutions were positioning themselves for moves in either direction, which shows how uncertain the market is about where ETH is going,” added the analyst.Related: FTX liquidated $1.5B in 3AC assets 2 weeks before hedge fund’s collapseWhale addresses count on Ethereum started staging a recovery since the beginning of 2025.Ethereum: Whale Address Count [Balance >1k ETH]. Source: GlassnodeWhale addresses with at least 1,000 ETH or $1.92 million, rose over 4% year-to-date, from 4,652 addresses on Jan. 1 to over 4,843 addresses on March 14, Glassnode data shows.Magazine: Vitalik on AI apocalypse, LA Times both-sides KKK, LLM grooming: AI Eye
Bitcoin’s megaphone pattern, explained: How to trade it
Key takeawaysThe Bitcoin megaphone pattern features at least two higher highs and two lower lows, forming an expanding structure.Connecting these highs and lows with trendlines creates a megaphone-like appearance, reflecting market instability.The formation signals heightened volatility, with price swings becoming more pronounced over time.Depending on the trend direction, the pattern can indicate potential breakouts either upward (bullish) or downward (bearish).The megaphone pattern, also known as a broadening formation, is a technical analysis chart pattern that traders observe in various financial markets, including cryptocurrencies like Bitcoin. This pattern is characterized by its distinctive shape, resembling a megaphone or an expanding triangle, and signifies increasing volatility and market indecision. Here are its defining characteristics:Higher highs and lower lows: The pattern consists of at least two higher highs and two lower lows, forming an expanding structure. Each subsequent peak is higher than the previous one, and each trough is lower, creating diverging trendlines.Diverging trendlines: When trendlines are drawn connecting the higher highs and lower lows, they diverge, forming a broadening pattern that visually resembles a megaphone.Increased volatility: The formation of this pattern indicates heightened volatility as the price swings become more pronounced over time. This reflects a struggle between buyers and sellers, leading to wider price movements.Did you know? Bitcoin megaphone trading differs from traditional megaphone trading in that no physical megaphones are involved in the process.1. Bullish megaphone formation This variation of the pattern suggests a potential breakout to the upside.Initial uptrend: The price begins in an uptrend, reaching the first peak (point 1).First retracement: A pullback occurs, creating a lower low (point 2) that is still above the prior trend’s starting level.Higher high formation: The price rallies again, surpassing the previous high and forming a higher high (point 3).Lower low expansion: A more pronounced drop follows, leading to a lower low (point 4), extending the range of price fluctuations.Breakout and continuation: The price breaks above the resistance line (point 5), confirming a bullish breakout.2. Bearish megaphone formation This version of the pattern signals a potential downside breakout.Initial downtrend: The price begins with a downward movement, setting an initial low (point 1).First retracement: A minor upward correction follows, forming a lower high (point 2).Lower low expansion: A new low forms (point 3), further widening the range.Higher high formation : The price spikes again but still struggles to hold above prior highs (point 4).Breakout and reversal: The price breaks below the support line (point 5), confirming a bearish breakout.Did you know? A high-volume breakout from a megaphone pattern signals strong market conviction, confirming a real move. Low volume? It’s likely a fakeout, with the price reversing back. Remember, wait for a volume spike before entering.Megaphone history in Bitcoin tradingThe megaphone pattern, or broadening formation, has appeared at various pivotal moments in Bitcoin’s trading history:1. The early days: 2013–2014In Bitcoin’s (BTC) formative years, extreme volatility often produced broadening formations. During this period, traders noted megaphone patterns — often with a bearish tint — reflecting wild price swings as the market struggled to find balance. Although less documented then, these early examples have since become reference points for understanding how chaotic market conditions can manifest as megaphone formations.2. The late 2017–early 2018 bearish formationAs Bitcoin surged toward its then-all-time high near $20,000 in late 2017, a bearish megaphone pattern appeared on daily charts. This formation, marked by diverging trendlines with higher highs and lower lows, signaled increasing indecision and mounting selling pressure. Many technical analysts viewed it as a warning sign of an impending reversal — a forecast that materialized with the dramatic correction experienced in early 2018.3. The early 2021 bullish turnIn early 2021, as Bitcoin approached the $60,000 threshold, traders observed a bullish megaphone pattern forming on multiple timeframes. Characterized by a series of progressively higher highs and higher lows, this pattern indicated a period of heightened volatility combined with cautious optimism. The subsequent breakout confirmed a strong bullish momentum, reinforcing the pattern’s validity as a predictive tool in a maturing market.Trading strategies for the megaphone patternIn this section, we’ll explore a number of trading strategies compatible with the Megaphone pattern. 1. Megaphone breakout trading Breakout megaphone pattern trading involves entering a trade when the price decisively breaks out of the pattern’s boundaries with strong volume confirmation.a. Identifying key levelsDraw upper and lower trendlines: Connect the pattern’s higher highs and lower lows to form the megaphone shape. These trendlines mark the critical resistance and support levels.Confirm the breakout zone: In a bullish scenario, the upper resistance line is the key zone to watch for a breakout. In a bearish scenario, focus on the lower support line.b. Volume confirmationLook for a volume surge: As the price breaches resistance (bullish) or support (bearish), a spike in volume indicates strong market participation.Reduce false breakouts: If volume remains weak at the breakout, there’s a higher chance of a fake move back into the pattern.c. Entry pointsBullish breakout entry: Place your buy order just above the upper resistance line.Bearish breakout entry: Enter a short position just below the lower support line.Did you know? Placing your stop-loss inside the megaphone can help prevent excessive losses if the breakout fails and the price slides back into the pattern, giving you added protection in volatile markets.d. Profit targetsMeasure the pattern’s height by finding the vertical distance between its lowest and highest points, then use a portion of this measurement (commonly around 60%) to determine a balanced take-profit level.By projecting that percentage from the breakout point, whether above the upper resistance (for a bullish scenario) or below the lower support (for a bearish one), traders can set realistic targets while maintaining a favorable risk-to-reward ratio.2. Swing trading within the patternSwing trading within a megaphone pattern involves capitalizing on the interim price moves between its support and resistance boundaries — without necessarily waiting for a definitive breakout.a. Identify key linesUpper resistance (R1, R2): These lines represent zones where price is likely to encounter selling pressure.Pivot line: A midpoint reference that can act as temporary support or resistance, depending on the direction of the price move.Lower support (S1, S2): Zones where buying pressure may emerge.b. Look for buy signals near supportIn a bullish megaphone, consider entering long positions near the lower support lines (S1 or S2), especially when you see a bounce or bullish candlestick formation.Confirm signals with oscillators (e.g., RSI, stochastics) or volume upticks indicating a shift in momentum.c. Sell signals near resistanceIn a bearish megaphone (or even within a bullish one, if you’re comfortable short-selling), traders may look for short entries near upper resistance lines (R1 or R2).A candlestick reversal pattern or a decline in volume at these resistance levels can reinforce the likelihood of a price reversal.d. Stop loss and take profitPlace your stop-loss just above the resistance line (e.g., slightly above R2) to minimize losses if the price breaks out higher. For take-profit targets, consider exiting near the pivot line or the first support (S1). In cases of strong downward momentum, take partial profits at S1 and aim for S2 with the remaining position.e. Use the pivot line as a decision zoneThe pivot line in the center often serves as a short-term inflection point:Above the pivot: The bias may be bullish, favoring long positions.Below the pivot: The bias may be bearish, favoring short positions.If the price consistently hovers around the pivot line with no clear direction, wait for it to test either a support or resistance level to confirm the next swing.f. Combine volume and indicatorsLook for volume spikes at each support or resistance test. An uptick in volume when the price bounces off support or reverses from resistance can signal a stronger move.Also, tools like the relative strength index (RSI) or moving average convergence/divergence (MACD) can help confirm overbought/oversold conditions, strengthening the case for a reversal trade.3. False breakout strategyFalse breakout megaphone pattern trading involves recognizing when the price briefly breaches the megaphone’s support or resistance, only to quickly return within its boundaries — a scenario often accompanied by low volume.In such cases, instead of chasing the breakout, traders look for confirmation of the reversal before entering a counter-trend trade. This strategy requires identifying key trendlines that define the pattern, monitoring volume for weak breakout signals, and entering a trade once the price re-enters the formation, typically placing stop-loss orders within the pattern to limit losses and setting profit targets based on the measured height of the formation.Risk management and considerationsGiven the inherent volatility of Bitcoin and the wild price swings characteristic of the megaphone pattern, robust risk management is essential to safeguarding your trading capital. Here are several key strategies to incorporate into your trading plan:1. Volatility awarenessThe expanding range of the megaphone pattern signifies increasing uncertainty. Recognize that rapid swings can lead to both substantial gains and equally significant losses.Monitor market sentiment closely and be prepared for sudden reversals, especially during false breakouts where low volume might signal a lack of conviction.2. Position sizing and leveragePosition sizing: Determine your position size based on the maximum risk you are willing to take (typically 1%–2% of your trading account).Cautious use of leverage: While leverage can amplify profits, it equally increases potential losses. Use leverage sparingly and ensure your risk parameters can accommodate amplified swings.3. Stop-loss and take-profit levelsStop-loss orders: Place stop-loss orders just within the megaphone formation’s boundaries. This positioning helps limit losses if the price reverses unexpectedly.Take-profit targets: Calculate your profit targets by measuring the vertical distance of the pattern and projecting a reasonable percentage from the breakout point. This ensures you secure gains while maintaining a favorable risk-to-reward ratio.4. Adaptive risk controlsMarket conditions can shift rapidly. Continuously reassess your trades by:Monitoring volume and momentum: Use volume spikes and momentum indicators to adjust your stop-loss or take-profit levels dynamically, ensuring that your exit strategy adapts to the evolving market.Using trailing stops: Consider employing trailing stop orders to lock in profits as the price moves in your favor while still allowing room for potential gains.And that’s it — happy megaphone trading!
Bitcoin needs weekly close above $81K to avoid downside ahead of FOMC
Bitcoin needs to close above the key $81,000 weekly level to avoid more downside volatility ahead of next week’s Federal Open Market Committee (FOMC) meeting, which will offer investors more cues on the Federal Reserve’s monetary policy for 2025.Bitcoin (BTC) price fell over 3% during the past week, to trade above $83,748 as of 9:33 a.m. in UTC, Cointelegraph Markets Pro data shows.Bitcoin price continues to risk significant downside volatility due to growing macroeconomic uncertainty around global trade tariffs, according to Ryan Lee, chief analyst at Bitget Research.BTC/USD, 1-year chart. Source: CointelegraphClosing the week above $81,000 will be key to avoid more Bitcoin downside, the analyst told Cointelegraph, adding:“The key level to watch for the weekly close is $81,000 range, holding above that would signal resilience, but if we see a drop below $76,000, it could invite more short-term selling pressure.”The analyst’s comments come days ahead of the next FOMC meeting scheduled for March 19. Markets are currently pricing in a 98% chance that the Fed will keep interest rates steady, according to the latest estimates of the CME Group’s FedWatch tool.Source: CME Group’s FedWatch toolThe outcome of the meeting may significantly impact Bitcoin investor sentiment, said Lee, adding:“The market largely expects the Fed to hold rates steady, but any unexpected hawkish signals could put pressure on Bitcoin and other risk assets.”“Even a dovish surprise, like a rate cut, might not be the immediate boost some are hoping for, as investors are still weighing macro uncertainties,” added the analyst.Related: US Rep. Byron Donalds to introduce bill codifying Trump’s Bitcoin reserveBitcoin close above $85k may reignite investor optimism for more upside: analystOther analysts are seeing a silver lining in Bitcoin’s stagnant price action.A weekly close above $85,000 may inspire more investor confidence and lead to the next breakout, according to Enmanuel Cardozo, market analyst at Brickken real-world asset tokenization platform.The market analyst told Cointelegraph:“Traders and investors alike are keeping a close eye on the $80,000 support and the $85,000–$90,000 resistance, with a break above the latter potentially sparking a strong upward movement.”While Bitcoin’s short-term momentum may be limited by the upcoming economic releases, the regulatory developments around Trump’s Bitcoin reserve plan may gradually bring more market optimism and mass adoption, added the analyst.Related: Bitcoin’s next catalyst: End of $36T US debt ceiling suspensionTrump’s Bitcoin reserve came one step closer to fruition on March 14, after US Representative Byron Donalds introduced a bill that seeks to ensure the Bitcoin reserve becomes a permanent fixture, preventing future administrations from dismantling it through executive action.If the bill is passed, it would ensure that the Strategic Bitcoin Reserve and the US Digital Asset Stockpile could not be eliminated via executive actions by a future administration.The bill will require at least 60 votes in the Senate and a House majority to pass. With Republicans holding a Senate majority — and amid a generally more crypto-friendly environment — the bill has a chance of passing.Magazine: SCB tips $500K BTC, SEC delays Ether ETF options, and more: Hodler’s Digest, Feb. 23 – March 1
'Very possible' Bitcoin consolidates for 8 months again: 10x Research
10x Research’s head crypto researcher isn’t ruling out Bitcoin repeating its 2024 price action, where it spent much of the year consolidating after hitting all-time highs early on.“Very possible,” Markus Thielen told Cointelegraph when asked what the chances of Bitcoin (BTC) repeating a similar market movement to 2024, where it reached an all-time high of $73,679 in March before entering a consolidation phase, swinging within a range of around $20,000 up until Donald Trump was elected as US president in November.Bitcoin’s current chart signals “market indecision”Thielen said he had this thought even two months ago, around the time Bitcoin hit its current all-time high of $109,000 on the day of Trump’s inauguration.He explained in his most recent market report on March 15 that Bitcoin’s current chart resembles a “High and Tight Flag,” which, despite typically being a bullish continuation pattern, shows signs of weakness.Bitcoin’s price chart is forming a High, Tight Flag Pattern. Source: 10x Research“Two flags instead of a single, precise formation weakens this setup,” Thielen said.“As a result, the pattern currently suggests market indecision rather than a straightforward bullish consolidation,” he added.Meanwhile, he also pointed out that the spot Bitcoin exchange-traded fund (ETF) market shows no signs of a “buy-the-dip” mentality.“Little incentive” to take advantage of Bitcoin’s recent price dip“This aligns with our view that most ETF flows came from arbitrage-driven hedge funds. Given the persistently low funding rates, there’s little incentive or willingness to deploy additional capital despite the recent price correction,” Thielen said. Since the beginning of March, when Bitcoin fell below $90,000, spot Bitcoin ETFs in the US have recorded total outflows of around $1.66 billion, according to Farside data.Bitcoin is trading at $84,290 at the time of publication, according to CoinMarketCap. This represents a 23% decline from its $109,000 January all-time high.Bitcoin is down 12.86% over the past month. Source: CoinMarketCapThielen is unsure if Bitcoin’s uptrend will resume in the short term. ”Therefore, it may be prudent to close short positions at this stage, although there remains little evidence to support a strong price recovery,” Thielen said.Related: Bitcoin panic selling costs new investors $100M in 6 weeks — ResearchEver since Bitcoin fell below $80,000 on Feb. 28 — the first time since November — amid growing macroeconomic uncertainty over US President Donald Trump’s proposed tariffs, several crypto analysts have been predicting further downfall for the asset.On March 10, BitMEX co-founder and Maelstrom chief investment officer Arthur Hayes said “it looks like Bitcoin will retest $78,000.” “If it fails, $75,000 is next in the crosshairs,” he added.Meanwhile, Iliya Kalchev, dispatch analyst at digital asset investment platform Nexo, told Cointelegraph on March 11 that the low $70,000 range could “provide a foundation for a more sustainable recovery.”Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why
Crypto faces ‘starkest' gap between sentiment and fundamentals: BlockTower
The crypto market has been experiencing a major disconnect between traders’ short-term market uncertainty and crypto builders’ growing bullishness. This creates a prime opportunity for long-term investors, according to Ari Paul, founder of crypto hedge fund BlockTower Capital.
In a recent post on X, Paul highlighted the stark divergence between sentiment and fundamentals in the crypto market. While traders and analysts have turned bearish, crypto developers and those working for crypto companies remain optimistic. Paul stated that all the data points he’s hearing from these sources are positive, indicating a strong belief in the long-term potential of the industry.
This sentiment is echoed by other experts in the field, such as crypto analyst Matthew Hyland, who believes that Bitcoin needs to close a week above $89,000 to confirm that the bottom is in. However, the recent market spike has given traders some short-term confidence, with Bitcoin, Ether, and XRP all seeing gains over the past 24 hours.
Despite this short-term uncertainty, Paul believes that now is a good time to explore traditional venture capital crypto investments with a longer-term outlook. He suggests looking for investments that focus on sustainable value creation rather than quick monetization schemes.
This sentiment is shared by MN Trading Capital founder Michael van de Poppe, who believes that Bitcoin’s recent price spike has strengthened his confidence in the asset resuming its uptrend by June. He also believes that we may be starting a new uptrend on the lower timeframes, making it a good time to invest.
In conclusion, while the short-term market may be uncertain, the long-term outlook for the crypto industry remains positive. This presents an opportunity for savvy investors to explore traditional venture capital crypto investments and potentially reap the rewards in the future. So, if you’re looking to get involved in the crypto market, now may be the perfect time to do so.