BNP Paribas' crypto ETNs could significantly boost retail investor access to digital assets, potentially reshaping France's financial landscape.

The post France’s largest bank to debut Bitcoin, Ether ETNs for French retail clients tomorrow appeared first on Crypto Briefing.

The bankruptcy and legal fallout from Goliath Ventures' Ponzi scheme could erode trust in crypto investments and impact financial regulations.

The post Crypto firm Goliath Ventures files for bankruptcy after CEO arrested over alleged $328M Ponzi scheme appeared first on Crypto Briefing.

The partial lockup of WLD tokens may stabilize the market short-term, but long-term impacts on liquidity and investor confidence remain uncertain.

The post Sam Altman’s World sells 239 million WLD through OTC deals with partial lockup appeared first on Crypto Briefing.

Kalshi gets margin approval as its $22 billion valuation and booming event trading volumes push prediction markets further into Wall Street.

The post Kalshi moves toward margin trading with new regulatory approval appeared first on Crypto Briefing.

Codifying SEC-CFTC rules into law could prevent politically motivated crackdowns, fostering innovation and enhancing US crypto competitiveness.

The post Ripple CEO warns against another weaponized Gensler moment if SEC-CFTC rules aren’t codified into law appeared first on Crypto Briefing.

Bitcoin Magazine

Morgan Stanley Set to Undercut Bitcoin ETF Rivals With 0.14% Fee Ahead of Launch

Morgan Stanley is poised to shake up the spot bitcoin ETF market with a sharply lower fee structure, as new filing details show its upcoming Morgan Stanley Bitcoin Trust (MSBT) will charge just 0.14% annually — undercutting every existing U.S. competitor.

The fee, disclosed in updated trust documents shared by Bloomberg analyst Eric Balchunas, comes in 11 basis points below BlackRock’s flagship iShares Bitcoin Trust (IBIT), which currently charges around 0.25%. 

The aggressive pricing positions MSBT as the cheapest spot bitcoin ETF on the market at launch, signaling a deliberate push to capture both internal advisory flows and external investor capital.

The move carries particular weight within Morgan Stanley’s own ecosystem. With roughly $8 trillion in wealth management assets and a network of thousands of financial advisors, fee sensitivity has been one of the barriers to broader ETF adoption across advisory channels. 

A lower-cost in-house product could remove that friction, allowing advisors to allocate to bitcoin without facing conflicts tied to recommending higher-fee third-party funds.

Industry observers say that dynamic could materially shift flows.

Phong Le, CEO of Strategy, recently described the product as a potential “Monster Bitcoin” catalyst, estimating that even a modest 2% allocation across Morgan Stanley’s platform could translate into roughly $160 billion in demand. 

That figure would far exceed the size of any existing spot bitcoin ETF and underscores the importance of distribution, not just product design.

Morgan Stanley’s bitcoin ETF is coming

The fee disclosure arrives as MSBT moves closer to launch. The fund has already received a listing notice from the New York Stock Exchange, a step widely viewed as signaling that trading could begin imminently pending final regulatory clearance. If approved, the product would become the first spot bitcoin ETF issued directly by a major U.S. bank rather than an asset manager.

Structurally, MSBT mirrors existing spot bitcoin ETFs. The trust will hold bitcoin directly, with Coinbase serving as custodian and prime broker, while BNY Mellon will handle administration, transfer agency, and cash custody.

Since their debut in 2024, U.S.-listed spot bitcoin ETFs have easily attracted more than $50 billion in inflows, driven largely by retail and self-directed investors. Adoption within wealth management platforms has been slower, often constrained by internal policies, fee considerations, and portfolio construction guidelines.

At the time of writing, Bitcoin is trading near $66,000.

This post Morgan Stanley Set to Undercut Bitcoin ETF Rivals With 0.14% Fee Ahead of Launch first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Bitcoin Fear and Greed Index Hits Extreme Fear at 13 Out of 100

As of March 27, 2026, the Bitcoin Fear and Greed Index reads 13, placing sentiment in Extreme Fear. The current price of bitcoin is near $66,000.

The index spans 0 to 100, with lower readings tied to fear-driven market conditions and higher readings tied to greed-driven conditions.

The metric compiles inputs across price volatility, market momentum, trading volume, Bitcoin dominance, social sentiment, and Google Trends activity. The combined dataset forms a sentiment gauge used to track emotional conditions across Bitcoin markets.

Readings in the Extreme Fear range have aligned with prior stress phases in BTC market cycles.

Bitcoin Magazine Pro data highlights these zones as periods marked by liquidity contraction, elevated volatility, and forced positioning in derivatives markets.

In prior reporting, deep fear readings have coincided with accumulation behavior among long-term holders, alongside reduced speculative activity across spot and derivatives venues.

Earlier market drawdowns examined in Bitcoin Magazine Pro research show similar sentiment conditions during deleveraging events, where sharp price declines matched rapid sentiment compression.

In those phases, volatility expansion and liquidity withdrawal appeared alongside increased Bitcoin dominance as risk appetite shifted away from altcoin exposure.

Bitcoin uncertainty

Earlier today, Bitcoin price fell to its lowest level in more than two weeks, dropping below roughly $66,000 as liquidations exceeded $300 million in long positions over the previous 24 hours.

Short liquidations were far lower, showing that leveraged bullish traders were primarily forced out of the market. The move followed a broader shift in global risk sentiment as equities weakened and macroeconomic pressure increased.

The decline in BTC coincided with a risk-off environment across traditional markets. Nasdaq 100 futures had fallen about 10% from prior highs, while oil prices rose toward $100 per barrel amid escalating geopolitical tensions involving Iran.

Military activity and missile exchanges between the two countries continued despite diplomatic efforts, and the United States delayed direct escalation while negotiations remained open.

Regional instability contributed to concerns over energy supply routes, including disruptions in the Strait of Hormuz.

BTC had briefly approached higher levels earlier in the week on hopes of diplomatic progress, but those gains reversed as uncertainty returned. Price action remained within a broader range between $60,000 and $75,000 that had persisted for several weeks, following a prior peak above $120,000 in late 2025.

Institutional flows showed mixed signals. Spot BTC exchange-traded funds recorded billions in inflows earlier in March, but more recent sessions saw outflows.

On-chain data showed continued withdrawals from exchanges, suggesting long-term holders moved assets into self-custody. Options markets showed about $14 billion in expirations, which influenced price stability near key strike levels around $75,000.

Editorial Disclaimer: We leverage AI as part of our editorial workflow, including to support research, image generation, and quality assurance processes. All content is directed, reviewed, and approved by our editorial team, who are accountable for accuracy and integrity. AI-generated images use only tools trained on properly license material. In Bitcoin, as in media: Don’t trust. Verify.

This post Bitcoin Fear and Greed Index Hits Extreme Fear at 13 Out of 100 first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

ICE Announces $600 Million Strategic Investment in Polymarket

Intercontinental Exchange, Inc. Intercontinental Exchange, the parent company of the New York Stock Exchange, has completed a $600 million direct cash investment in prediction market platform Polymarket as part of a broader equity fundraising round, according to a company announcement.

The new investment follows ICE’s previously disclosed $1 billion commitment made in October 2025. With the latest infusion, ICE says it has now fulfilled its obligations under the investment agreement, which also includes plans to purchase up to $40 million in additional Polymarket securities from existing holders.

Polymarket, a blockchain-based prediction market platform that allows users to trade on the outcomes of real-world events, has drawn increasing attention from institutional investors amid growing interest in event-driven data markets and decentralized financial infrastructure.

Polymarket has support for bitcoin deposits, giving users a direct way to fund their accounts with BTC alongside other existing crypto options. 

ICE stated that the investment is not expected to materially impact its financial results or capital return plans. Final valuation details of the latest transaction are expected to be disclosed once the fundraising round is fully completed.

The move further signals traditional financial market infrastructure firms expanding into alternative data and crypto-adjacent platforms. ICE, which operates major exchanges including the NYSE, continues to diversify into digital markets, data services, and fintech infrastructure.

Polymarket has become one of the most prominent prediction market platforms globally, leveraging blockchain rails to facilitate trading on political, economic, and cultural outcomes.

The companies emphasized that the announcement does not constitute an offer to sell or solicit securities. Market observers say the scale of ICE’s investment underscores rising institutional interest in prediction markets as both a trading venue and a data source.

Polymarket’s embrace by TradFi

In the past year, the relationship between the crypto-native prediction market and traditional financial powerhouse Intercontinental Exchange (ICE) has become one of the most closely watched intersections of decentralized markets and institutional capital. 

Polymarket, launched in 2020 by founder Shayne Coplan, has grown into one of the largest blockchain-based prediction platforms, where users trade shares on the outcomes of future events — from elections to economic indicators and geopolitical developments — using cryptocurrency rails.

In late 2025, Polymarket re-entered the U.S. market under full Commodity Futures Trading Commission (CFTC) regulation after previously being blocked amid enforcement actions, marking a significant shift from its earlier status as an offshore, lightly regulated venue.

In December 2025, Polymarket launched its U.S.-focused app after the CFTC approval, restoring American access to its prediction markets and initially offering sports betting with plans to expand into other categories like propositions and elections.

Editorial Disclaimer: We leverage AI as part of our editorial workflow, including to support research, image generation, and quality assurance processes. All content is directed, reviewed, and approved by our editorial team, who are accountable for accuracy and integrity. AI-generated images use only tools trained on properly license material. In Bitcoin, as in media: Don’t trust. Verify.

This post ICE Announces $600 Million Strategic Investment in Polymarket first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Bitcoin Price Slides to Two-Week Low as Liquidations Top $300 Million and Macro Pressure Builds

Bitcoin price fell below $66,500 on Friday, hitting its lowest level in more than two weeks as a wave of long liquidations and mounting macroeconomic stress weighed on the crypto market..

Data shows nearly $300 million in long positions were liquidated over the past 24 hours, according to Bitcoin Magazine Pro data, compared with roughly $50 million in short liquidations, pointing to an unwind of crowded bullish positioning in crypto futures. The imbalance reflects a market that had leaned heavily long and is now adjusting as sentiment shifts.

The bitcoin price selloff coincided with a broader risk-off move across global markets. Nasdaq 100 futures have fallen about 10% from their January highs, while oil prices climbed near $100 per barrel amid escalating geopolitical tensions tied to the ongoing conflict involving Iran. 

Earlier today, Israel said it will escalate strikes on Iran after renewed waves of Iranian missile attacks, while both sides continue exchanging fire despite ongoing diplomatic efforts. 

President Trump has paused U.S. strikes on Iranian energy infrastructure for 10 more days to allow negotiations, even as reports suggest the Pentagon is considering deploying up to 10,000 additional troops to the Middle East.

Meanwhile, the conflict is widening regionally, with shipping disruptions reported in the Strait of Hormuz, Gulf states on alert after strikes, and Iranian casualties reportedly nearing 2,000 as international talks continue in Europe.

The surge in crude has renewed inflation concerns and pressured risk assets, including cryptocurrencies.

Bitcoin price dynamics

Bitcoin price briefly approached $71,500 this week on optimism tied to a potential diplomatic breakthrough in the Middle East. Those gains reversed as uncertainty around negotiations resurfaced, pushing prices lower and reinforcing sensitive market conditions.

Despite the recent decline, bitcoin price continues to trade within a defined range between $60,000 and $75,000 that has held for several weeks, even months. The asset remains well below its October 2025 peak above $126,000 following a broader market correction.

Institutional flows present a mixed picture. U.S.-listed spot bitcoin exchange-traded funds recorded sustained inflows earlier in March, totaling about $2.5 billion over five weeks. That momentum has slowed in recent sessions, with net outflows emerging and signaling a pause in accumulation as investors respond to macro uncertainty.

At the same time, on-chain data indicates continued withdrawals of bitcoin from centralized exchanges over the past month. This trend suggests longer-term holders are moving assets into self-custody, a pattern often associated with accumulation rather than distribution.

Despite this, Morgan Stanley is a step closer to launching its spot Bitcoin ETF, MSBT, after the New York Stock Exchange posted a listing notice — signaling an imminent debut that could make it the first such product from a major U.S. bank, alongside offerings from BlackRock and Fidelity.

Options markets add another layer of complexity. Roughly $14 billion in bitcoin price options are set to expire, representing a significant share of open interest. 

Hedging activity tied to these contracts has contributed to subdued volatility, with price action gravitating toward key strike levels near $75,000.

As these contracts roll off, the stabilizing effect from derivatives positioning may fade, leaving bitcoin more exposed to external catalysts. 

With geopolitical risks elevated and macro conditions tightening, the market faces a period where price movements may become more reactive and less constrained by structural flows.

This post Bitcoin Price Slides to Two-Week Low as Liquidations Top $300 Million and Macro Pressure Builds first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Simon Gerovich Confirmed As A Bitcoin 2026 Speaker

Simon Gerovich has been officially confirmed as a speaker at Bitcoin 2026. As Chief Executive Officer (CEO) of Tokyo Stock Exchange-listed Metaplanet, he has helped transform the once struggling hospitality company into one of the largest corporate Bitcoin holders in the world. Now, Gerovich arrives in Las Vegas as one of the most closely watched figures in institutional Bitcoin adoption outside of the United States.

Metaplanet closed 2025 with 35,102 BTC, making it the fourth-largest public corporate Bitcoin holder globally. The company has outlined aggressive accumulation targets, aiming to reach 100,000 BTC by the end of 2026 and 210,000 BTC — approximately 1% of Bitcoin’s total supply — by the end of 2027. To fund that ambition, Metaplanet recently secured approximately $255 million from global institutional investors through a placement of new shares, with additional fixed-strike warrants that could lift total funding to roughly $531 million. The company is also expanding beyond treasury accumulation: Metaplanet’s board approved the creation of two subsidiaries — Metaplanet Ventures and Metaplanet Asset Management — targeting companies building Bitcoin financial infrastructure in Japan, including platforms focused on lending, payments, custody, derivatives, and compliance tools.

Gerovich began the company’s EGM in September 2025 by explaining how Metaplanet pivoted from operating as a struggling hotel company to a Bitcoin treasury company in early 2024. The turnaround has been significant. Revenue jumped 738% year-over-year to 8.91 billion yen, with operating profit surging 1,695%, driven primarily by premiums from Bitcoin option transactions, which accounted for about 95% of total revenue. Gerovich has consistently pointed to Bitcoin per share — the company’s primary KPI — rather than net profit as the appropriate metric for evaluating Metaplanet’s performance, noting that Bitcoin per share increased by more than 500% in 2025.

With Metaplanet’s accumulation targets for 2026 still in motion and its expansion into ventures and asset management underway, Gerovich takes the Bitcoin 2026 stage at a pivotal moment for the company and for corporate Bitcoin adoption in Asia.

Bitcoin 2026 is Returning to Las Vegas

Bitcoin 2026 will take place April 27–29 at The Venetian, Las Vegas, and is expected to be the biggest Bitcoin event of the year.

Focused on the future of money, Bitcoin 2026 will bring together Bitcoin builders, investors, miners, policymakers, technologists, and newcomers from around the world. The event will feature a wide range of pass types, including general admission passes designed specifically for those new to Bitcoin, alongside premium passes for professionals, enterprises, and institutions.

With multiple stages, immersive experiences, technical workshops, and headline keynotes, Bitcoin 2026 is designed to serve both first-time attendees and long-time Bitcoiners shaping the next era of global adoption.

Past Bitcoin Conferences in the U.S.

Bitcoin’s flagship conference has scaled dramatically over the past five years:

• 2021 – Miami: 11,000 attendees
• 2022 – Miami: 26,000 attendees
• 2023 – Miami: 15,000 attendees
• 2024 – Nashville: 22,000 attendees
• 2025 – Las Vegas: 35,000 attendees

Get Your Bitcoin 2026 Pass

Bitcoin Magazine readers can save 10% on Bitcoin 2026 tickets using code ‘ARTICLE10‘ at checkout.

Stay at The official hotel of Bitcoin 2026, The Venetian, and get a guaranteed low rate plus 15% off your pass. Be in the middle of where the fun is all happening, and where the networking never ends.

And don’t forget:

Volunteer at Bitcoin 2026 and get Pro Pass access plus exclusive perks.

All students ages 13+ can apply for a Student Pass and get free general admission access to Bitcoin 2026.

Location: The Venetian, Las Vegas
Dates: April 27–29, 2026

For more information and exclusive offers, visit the Bitcoin Conference on X here.

Why Attend Bitcoin 2026?

Bitcoin 2026 is the definitive gathering for anyone serious about the future of money. With 500+ speakers, multiple world-class stages, and programming spanning Bitcoin fundamentals, open-source development, enterprise adoption, mining, energy, AI, policy, and culture, the conference brings every corner of the Bitcoin ecosystem together under one roof.

From headline keynotes on the Nakamoto Stage to deep technical sessions for builders, institutional strategy discussions for enterprises, and beginner-friendly Bitcoin 101 education, Bitcoin 2026 is designed for everyone—from first-time attendees to the leaders shaping Bitcoin’s global adoption.

Whether you’re looking to learn, build, invest, network, or influence, Bitcoin 2026 is where Bitcoin’s next chapter is written.

Bitcoin 2026 Pass Types: Something for Everyone

Bitcoin 2026 offers a range of pass options designed to meet the needs of newcomers, professionals, enterprises, and high-net-worth Bitcoiners alike.

Bitcoin 2026 General Admission Pass

Ideal for newcomers and those looking to experience the heart of the conference.

• Limited access on Days 2 & 3
• Entry to Main Stage
• Access to Genesis Stage
• Full access to the Expo Hall

Bitcoin 2026 Pro Pass

Designed for professionals, operators, and serious Bitcoin participants.

Includes all General Admission features, plus:

• Full 3-day access, including Pro Day
• Entry to the Pro Pass Reception
• Access to Enterprise Hall, Enterprise Stage, and Networking Lounge
• Conference App networking features
• Access to the Bitcoin For Corporations Symposium
• Entry to Compute Village and Energy Stage
• Complimentary lunch, coffee, tea, and snacks
• Dedicated registration and check-in
• Reserved seating at Main Stage
• Huge savings when you bundle your hotel and Pro Pass

Bitcoin 2026 Whale Pass

The all-inclusive, premium Bitcoin 2026 experience.

Includes all Pro Pass features, plus:

• Reserved seating at Main Stage
• All-inclusive gourmet food and beverages
• Entry to Whale Night and Whale Reception
• Access to all official after-parties
• Networking app access to connect with other Whales
• Premium access to The Deep — an exclusive networking lounge with intimate speaker sessions
• Complimentary stay at The Venetian when you bundle your whale pass and hotel (use promo code ‘WHALEHOTEL’ here)

This is the most immersive way to experience Bitcoin 2026.

Bitcoin 2026 After Hours Pass

Your ticket to the night.

Most deals are done with a drink in your hand. Get exclusive access to 3 official Bitcoin 2026 after-parties across Las Vegas — each with a 2-hour open bar — where the real conversations happen and the best connections are made.

• Access to 3 official Bitcoin 2026 after-parties
• 2-hour open bar at each event
• Evening events across Las Vegas, April 27–29
• Network with Bitcoiners, builders, and industry leaders after hours

More headline speaker announcements are coming soon.

Don’t miss Bitcoin 2026.

This post Simon Gerovich Confirmed As A Bitcoin 2026 Speaker first appeared on Bitcoin Magazine and is written by Jenna Montgomery.

Congress has introduced the Digital Asset PARITY Act, a bipartisan discussion draft introduced by Reps. Steven Horsford and Max Miller, who would rewrite Section 1091 to cover “specified assets.”

The category explicitly includes actively traded digital assets and their derivatives, and carves out a narrow class of regulated payment stablecoins from routine gain-or-loss recognition.

The draft lands harder on the crackdown side than on the relief side, and that asymmetry is what gives the proposal its sharpest edge.

For years, crypto traders have exploited a gap that stock investors cannot touch. Under current law, wash-sale rules apply to “stock or securities,” a definition that excludes digital assets.

A trader could sell Bitcoin at a loss, buy back in the next day, and still claim the tax deduction, a maneuver the IRS explicitly bars in equity markets.

The PARITY Act draft closes that gap by rewriting Section 1091 to cover actively traded digital assets, notional principal contracts tied to them, and related derivatives, including options, forward contracts, futures contracts, and short positions.

The familiar 30-day-before-and-after replacement window applies, and the wash-sale changes take effect upon enactment.

The stablecoin carveout

On the other side of the ledger, the draft says sellers recognize no gain or loss on the sale of a “Regulated Payment Stablecoin,” provided the transaction stays within a $0.99-$1.01 per-unit band.

When the exception applies, the taxpayer's basis in the stablecoin is deemed to be $1.00 per unit for calculating any residual gain or loss.

The carveout does not extend to brokers or dealers in securities or commodities, and related-party transactions carry explicit anti-abuse flags, though those guardrails sit under technical drafting review.

A stablecoin must be a payment stablecoin under the GENIUS framework, a permitted issuer must issue it, it must peg solely to the US dollar, it must trade within 1% of $1.00 on at least 95% of trading days in the preceding 12 months, and the taxpayer must acquire it within 1% of $1.00.

The stablecoin section takes effect for taxable years beginning after Dec. 31, 2025, and the draft's explanatory notes say that Congress is still working on whether to include a $200-per-transaction threshold and an aggregate annual limit in the final text.

That internal candor separates the stablecoin side from the wash-sale side, making the latter read like policy Congress has already decided.

The stablecoin carveout reflects the policy Congress wants, with Congress expecting Treasury to supply anti-abuse rules for coordinated arrangements but not yet embedding those guardrails in the black-letter text.

The policy design

Congress is using the tax code to distinguish between “crypto as payment” and “crypto as trading.”

The stablecoin market now sits at roughly $316 billion, with transaction volume exceeding $34 trillion last year, and a Wharton/WEF analysis found that roughly 99% of stablecoin activity still involves digital asset trading rather than payments.

Congress is offering tax relief to the use case it wants to encourage, and writing new costs into the one it wants to constrain.

The wash-sale rule does not apply where the taxpayer applies mark-to-market accounting to the specified asset, and the draft separately creates a mark-to-market election for dealers and traders in digital assets.

The political loser, more specifically, is the ordinary taxpayer using spot crypto for tax-loss harvesting.

Sophisticated trading businesses may access a cleaner elections framework than the current law provides.

The IRS finalized broker reporting rules for digital asset sales, requiring Form 1099-DA for transactions from Jan. 1, 2025, onward, with brokers furnishing taxpayer copies by Feb. 17, 2026.

Most 2025 statements will not include cost basis, leaving taxpayers to calculate it themselves. This means Congress is debating anti-abuse reform at the exact moment retail crypto holders are experiencing standardized reporting for the first time.

The policy direction also reflects a broader consensus that predates the draft. The 2025 White House digital assets report recommended extending wash-sale rules to digital assets, while explicitly stating that those rules should not apply to payment stablecoins.

The 2025 Joint Committee on Taxation report identified the current wash-sale gap and the absence of any de minimis rule for routine digital asset spending.

The PARITY Act is Congress trying to codify a split that tax policy had already mapped.

Where it lands

In an optimistic outcome, lawmakers finalize the stablecoin language cleanly, align it closely with GENIUS definitions, and pair the wash-sale crackdown with a clear $ 200-per-transaction threshold that makes small payments genuinely friction-free.

In that outcome, the tax code accelerates the adoption of on-chain regulated dollars. Visa data show that more than 99% of the stablecoin supply is dollar-denominated, and leading issuers earned more than $7 billion in reserve interest.

If the OCC's projected issuer base under GENIUS fills out, the carveout covers a material share of dollar stablecoin volume. Crypto gains a cleaner payment rail and a more level trading framework at the same time.

For the worst-case scenario, the wash-sale, short-sale, and derivative coverage survive with little dilution while the stablecoin section stalls in technical review, never reaching a final clean text before the legislative calendar tightens.

The mark-to-market election benefits professionals who can navigate an elections framework, and retail investors lose the loophole fastest, with no offsetting simplification on the payments side.

The broader crypto legislation had hit a new impasse, with banks and crypto firms still fighting over stablecoin economics.

The PARITY Act, as a discussion draft with multiple sections explicitly flagged for ongoing technical work, sits directly inside that gridlock. Taxpayers enter the 2026 filing season under new 1099-DA reporting obligations, with Congress pointing toward reform without yet enacting it.

Congress is more certain about closing the loophole than about the final contours of the stablecoin carveout.

The wash-sale rewrite is the harder edge of the draft, as it is concrete, broadly scoped, and ready to move. The stablecoin relief is the softer edge, presenting itself as directionally clear, mechanically unfinished, and dependent on a regulated-issuer framework that the OCC is still building out.

The version of the bill that actually reaches a vote will reveal which coalition Congress found less uncomfortable to disappoint.

The post Congress proposes removal of widely used Bitcoin tax loophole and giving it to regulated stablecoins appeared first on CryptoSlate.

Marco Rubio sat down with G7 foreign ministers and told them privately that the war with Iran could continue another two to four weeks, handing Washington's closest allies and the market a countdown.

Reports noted that Rubio publicly said the operation should conclude in “weeks, not months,” and the gap between those two framings captures the window long enough to sustain macro strain where Bitcoin now trades.

Bitcoin reached an intraday low of $65,571.07 on Mar. 27, down roughly 4.4% on the day. Meanwhile, Brent crude was at $111.52, up 53% since the war began on Feb. 27.

The Nasdaq had entered correction territory, the 10-year Treasury yield stood at 4.44%, and Fed futures reflected essentially zero probability of a rate cut this year. That combination explains Bitcoin's session losses with precision.

The transmission chain

Oil above $100 pushes freight costs into every supply chain simultaneously.

EIA data shows tanker rates for VLCCs from the Middle East to Asia hit their highest level since at least November 2005 in March. Stickier inflation expectations follow, as University of Michigan consumer sentiment fell to 53.3, and one-year inflation expectations jumped from 3.4% to 3.8%.

Fed Governor Lisa Cook said the war in Iran has shifted the balance of risks toward inflation, cementing a rate-cut freeze that is the direct channel into Bitcoin.

Bitcoin has come to trade like a high-beta liquidity instrument. The IMF has documented that its correlation with equities is higher than its correlations with gold, bonds, or major currencies.

A 2024 study in Finance Research Letters found that Bitcoin returns and volatility tend to respond to political uncertainty shocks, particularly during periods of financial stress. Bitcoin trades lower now because a longer war keeps the oil shock alive, which keeps liquidity tight.

Rubio's two-to-four-week private estimate turns a sequence of daily military headlines into a timeboxed repricing: traders now price the duration of the shock, treating each military headline as a data point in a longer repricing cycle.

Duration is the key

Traders are now pricing the war's duration, treating each military or diplomatic headline as a data point in a longer repricing cycle.

ICE recorded its highest-ever crude trading and open interest through March, indicating persistent repricing.

When President Donald Trump delayed strikes on Iranian energy infrastructure and hopes of de-escalation rose, global equity funds took in $37.77 billion in the week through Mar. 25. When Iran denied talks and hopes of a ceasefire faded, equities fell again.

The market toggles based on how the duration of the energy shock looks, and Rubio's private timeline pushed the dial toward durable.

A Reuters analyst poll put Brent at $100 to $190 under sustained disruption, with an average of $134.62. At the same time, EIA's March outlook projects Brent above $95 for the next two months. Bitcoin's near-term range is currently within this gap.

Flows through the Strait of Hormuz averaged roughly 20 million barrels per day in 2024, approximately 20% of global petroleum liquids consumption, with about 84% of that crude going to Asia.

The first-order macro hit lands in the region most central to industrial demand, emerging-market foreign exchange, and the technology supply chain.

Foreign investors pulled roughly $25.28 billion from Taiwan, $13.5 billion from South Korea, and $10.17 billion from India this month. Bitcoin sits inside the same global growth and technology complex that foreign outflows are actively repricing, and those moves reflect the same liquidity logic driving crypto lower.

EIA notes that only about 2.6 million barrels per day of Saudi and UAE pipeline bypass capacity is readily available.

Physical Hormuz navigation controls the macro calculus more than any diplomatic statement, which is why a ceasefire that leaves shipping impaired delivers limited relief.

War risk insurance alone keeps freight costs elevated enough to extend the inflation pass-through even if military operations pause.

The countdown

For the potential scenarios in the coming weeks, the best option involves diplomacy to close the gap within roughly seven to ten days.

Shipping normalization begins, Brent retreats toward $95-$110, and the “no cuts in 2026” narrative softens as inflation expectations ease. Goldman Sachs has argued that a clear end to military action would quickly erode the oil risk premium.

On that path, Bitcoin's exposure to the macro squeeze reverses rapidly. The relief puts Bitcoin in the $69,000-$75,000 range, supported by the EIA's easing post-disruption base case and by the speed at which equity funds re-entered when de-escalation hopes climbed in late March.

The same liquidity sensitivity that drove the selloff drives the recovery.

In the worst-case scenario, the war runs to the outer edge of Rubio's four-week window. Hormuz friction persists, war-risk insurance stays elevated, and no convincing ceasefire emerges.

Brent holds in the $110–$135 range, consistent with Goldman's March-April expectation and the Reuters average under sustained disruption. Inflation stays uncomfortable, the Fed stays sidelined, and Bitcoin trades in a $58,000-$66,000 range as risk assets stay capped by the same liquidity ceiling in place since Feb. 27.

The academic literature reinforces this framing over any reflexive safe-haven narrative.

A 2025 quantile analysis paper found that gold, the US dollar, and oil hedge geopolitical risk more consistently than cryptocurrencies across varying risk levels. Another 2025 study found that Bitcoin's defensive properties activate under geopolitically driven crash conditions, a threshold the current oil-and-yield squeeze has not yet reached.

In the bear case, the squeeze persists long enough to validate that conditional framing: Bitcoin's haven behavior is regime-dependent, and a sustained oil-inflation-yield environment is the least favorable regime for those properties to activate.

Two to four more weeks of war means at least one more inflation print, one more Fed meeting, and one more month of elevated freight and energy costs before the macro backdrop begins to clear.

For Bitcoin, that window represents the duration during which oil stays high and rate cuts stay off the table, the two conditions that drive the liquidity ceiling on risk assets.

The bull case closes that window early and reverses the compression, and the bear case holds it open long enough to validate the liquidity-asset framing that has governed Bitcoin's price action since February.

Markets are already pricing the countdown without considering the optimistic version.

The post Bitcoin drops as Rubio privately signals Iran war may last weeks, locking in high oil prices appeared first on CryptoSlate.

Even the safest corners of the market can start to look uneasy when oil jumps, war drags on, and investors begin to wonder whether inflation is heading back in the wrong direction.

That was the message we got from Tuesday’s sale of 2-year US Treasuries. These are short-term government bonds, and they're widely watched because they reflect what investors think could happen over the next couple of years, especially with Federal Reserve interest rates.

When demand for these short-duration Treasurys is strong, it tells us professional and institutional investors believe inflation will ease and policy will eventually soften.

So when the demand weakens, the signal shifts as well. Investors are asking for better compensation, and they're preparing for a bumpier stretch ahead.

Tuesday’s auction landed in that second category. The Treasury sold $69 billion of 2-year notes at a 3.936% high yield, and demand came in weaker than the previous month. The bid-to-cover ratio fell to 2.44 from 2.63 in February, while primary dealers ended up taking a much larger share of the sale.

These numbers tell us investors showed less appetite than usual for lending money to the US government for just two years at a 3.9% interest rate.

The weak sale arrived at a moment when the Middle East conflict had pushed oil higher, and hopes for quick Federal Reserve rate cuts were starting to fade. US business activity slowed to an 11-month low in March even as costs and selling prices accelerated, a combination that left investors staring at a pretty uncomfortable economic picture.

The 2-year Treasury is one of the market’s best readings on where investors think interest rates are headed in the near future. A weak auction signals that traders aren't convinced the Fed will be able to ease policy soon. It can also signal that inflation fear is starting to outrun the usual instinct to rush into government debt during a geopolitical shock.

Why this simple auction became a warning sign

For the better part of the last year, investors were hoping for a light at the end of the tunnel. Inflation seemed to be coming down, and growth was cooling in an orderly way, which would enable the Fed to eventually have room to cut rates. Short-term Treasury bonds would fit neatly into this recovering market, as they offered a profitable way to position for easier policy ahead.

But all of this fell apart with the recent oil shock. As the conflict in Iran threatens to turn into a full-blown war in the Middle East, oil prices skyrocketed, feeding into gasoline and broader business costs. This essentially annulled all of the softening we've seen in business activity, leaving markets wrestling with the prospect that the economy could slow down while inflation goes up. That combination would prevent the Fed from offering any kind of easy relief in the next year or so.

Once we start considering this as a real possibility, the meaning of a “safe” asset changes.
While the relative safety of an asset still counts in these circumstances, inflation counts more.

Investors begin asking whether holding a 2-year Treasury at a given yield really offers enough protection when energy prices are climbing, and the path to lower rates looks less certain. That's why this week’s weak demand drew so much attention: it showed the market wanted more returns before stepping in.

Fed rhetoric has added to that unease. Fed Governor Michael Barr said policymakers may need to hold rates steady for some time because inflation remains above target and the Middle East conflict has added upside risk through energy.

Comments like that help explain why the 2-year Treasurys are so important: they're the part of the Treasury market most tightly linked to the next chapter of Fed policy. When it starts to wobble, investors are usually reacting to what they think the central bank may or may not be able to do next.

What the signal says about the economy from here

This month's auction was a warning flare for the next few months.

Investors are starting to test whether any of the old assumptions still hold: Can inflation keep easing if oil stays elevated? Can the Fed cut rates if energy costs start raising prices even more?

The answers to these questions will affect everyone, not just Treasury buyers.

Higher short-term yields can keep financial conditions tight, pressure valuations in other markets, and raise the hurdle for risk-taking across stocks and speculative assets. They can also change borrowing conditions, because expectations for the Fed's future policy spill into all kinds of pricing decisions.

That's why a weak auction at the front end of the curve can end up telling a larger story about confidence, fear, and how investors see the next phase of the economy taking shape.

There's still room for this signal to cool. Ceasefire hopes helped oil prices pull back a bit, and that kind of move can ease some of the pressure on inflation expectations.

Nonetheless, the market is still arguing with itself, and the argument is alive in every fresh oil headline, every Fed remark, and every new read on prices and growth.

For now, the message from the auction is clear: investors are looking at the next two years and seeing a rougher road than they saw a month ago. They're seeing war, oil, inflation, slower activity, and a Federal Reserve that has less room to ride to the rescue than markets had hoped. And we saw a glimpse of a market starting to price in a more difficult world.

The post As Bitcoin weakens even ‘safe’ investments like the 2-year Treasury are starting to crack appeared first on CryptoSlate.

Bitcoin's price dropped below $67,000 this weekend, after a brutal slide that left it more than 40% below its October 2025 peak. In February, BTC had fallen about 47% from its high near $126,000.

In an earlier version of this market, that kind of drop would cause all kinds of ugly reactions that would spread way beyond the spot market. Fear would spread like wildfire, long-term holders would run, and the selling would feed on itself.

But this time, almost none of this happened.

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The most interesting part of this pullback wasn't the price action itself, but the behavior around it.

Even through a drawdown as deep as this, the US spot bitcoin ETF complex held up far better than anybody expected. Eric Balchunas, the chief ETF analyst at Bloomberg, said in February that only about 6% of ETF assets had left during the decline.

The arrival of spot bitcoin ETFs was always framed as a gateway moment for crypto, but the larger shift may be showing up now, when the market is under immense pressure. Bitcoin has a new class of holders, and they appear to be less eager to bolt at the first sign of pain.

The SEC approved spot bitcoin exchange-traded products in January 2024, and trading began the next day. What followed was one of the biggest product launches in ETF history.

By March 27, Farside’s data showed about $56.1 billion in cumulative net inflows across US spot Bitcoin ETFs since launch. BlackRock’s IBIT alone accounted for about $63.3 billion, and Fidelity’s FBTC had brought in about $11.0 billion. Grayscale’s GBTC, in contrast, had lost around $26.0 billion.

There's been real selling inside this category, and some of it has been quite heavy. But as a whole, ETFs kept attracting money anyway.

So, when Bitcoin plunged, it didn't take ETFs down with it.

The daily flow picture is still volatile, but it's in line with everyone's expectations. Farside data shows $167.2 million of net inflows on March 23, then a $171.3 million net outflow on March 26. We probably won't get a perfect calm anytime soon, especially given the ongoing geopolitical turmoil, but we have relative resilience. A severe drawdown arrived, and the mass exodus many expected never actually happened.

The new Bitcoin holder

The ETF wrapper changed who could own Bitcoin and how they could own it. Instead of living on exchanges and in wallets, BTC moved into institutional products that sit inside a familiar investment structure.

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ETFs brought Bitcoin to institutions, but this adoption worked both ways: it also brought institutional trades to Bitcoin. Some of the first movers in Bitcoin ETFs might have been big Bitcoiners looking for regulated exposure, but the space soon became saturated with those looking to profit from its liquidity and volatility.

CF Benchmarks, looking at 13F filings, showed that a lot of hedge fund exposure to Bitcoin ETFs was tied to basis-style trades rather than long-term conviction. SEC rules also make clear that 13F filings arrive with a lag, so they show us snapshots of the past rather than real-time behavior. Still, they help show how broad the investor base has become.

That distinction is important. When we say that Wall Street barely blinked, it doesn't mean nobody sold as BTC lost half its value. What it means is that the ETF complex came through a punishing drop without the kind of mass exit that once felt inevitable.

A look at the individual funds makes that even clearer. IBIT remains the category’s giant winner, but FBTC has also built a large base, while GBTC continues to bleed assets. We've seen strong inflows into the leading funds, steady support for a few others, and continued outflows from the old incumbent.

A crash with a different rhythm

The best comparison to the effect Bitcoin's price had on ETFs may be gold.

In 2013, a sharp drop in the price of gold triggered a major rush out of gold-backed ETFs. The World Gold Council said 350 tonnes flowed out by the end of April that year, representing a 12.9% drop in holdings.

But Bitcoin's ETF base seems different. The price damage has been much more severe than what gold saw, but the big holder exit never happened.

Nonetheless, Bitcoin is anything but stable right now. March 26 alone brought a $171.3 million net outflow day to ETFs, and the price continues to swing hard on any news about the developments in Iran.

But the response from holders is changing, and that may be the most important change the ETF era brought.

There are two ways to read this. One is that ETFs brought in stronger hands, investors who are more willing to treat Bitcoin as part of a broader portfolio. The other is that the selling has simply slowed down, and a larger macro shock could still test that patience later. Both are possible, as the data hasn't settled the argument yet.

Whatever the future outcome might be, this change in ETF behavior revealed something new about how Bitcoin now behaves under stress. A 40% crash used to look like a full-blown bear market panic, but in this ETF-dominant market, it's your run-of-the-mill stress test. Price broke hard after a year of up only, and ETF holders, at least in aggregate, held up much better than anyone could have expected.

And that may be the clearest sign yet that Wall Street did much more than just buy Bitcoin: it changed the way it sells off.

The post The next Bitcoin shock could be where Wall Street finally loses faith and starts selling appeared first on CryptoSlate.

AI agents are moving beyond chatbot duty and into a bigger role across the internet. As software starts researching, buying, coordinating, and completing tasks with limited supervision, a new question arises: how does a non-human user pay, prove who it is, and operate within clear rules?

That question opens an unexpected lane for crypto, especially in stablecoins, digital wallets, and machine-friendly identity systems.

For years, crypto has searched for a role that feels native to the internet. Trading brought attention, and speculation brought traffic to it. But it felt incomplete, like its deeper promise pointed somewhere else: a financial system designed for digital life from the start.

AI agents could sharpen that promise.

The term might feel fuzzy, partly because it gets used for almost everything in AI. An AI agent is software that can take a goal, break it into steps, use tools, gather information, and carry out actions with some autonomy.

That shift essentially changes the way the internet works. A chatbot gives you answers to a question, but an agent can compare vendors, renew subscriptions, book services, monitor budgets, send instructions to other software, and complete tasks from start to finish.

But once software starts acting like a user, how does it participate in the economy?

The internet is getting a new kind of user: AI agents

Imagine a company using an AI agent to handle part of its daily operations. The system notices higher demand, buys extra compute, pays for a data service, renews a software tool, and logs each step for review.

At that point, the issue is no longer whether the software has the capacity to reason through a task. The biggest issue now is whether the internet has a financial system built for software that can act on its own.

That is where crypto has the potential to separate from the hype surrounding “AI tokens.”

Novelty coins attached to vague promises from AI projects aren't the best use case for crypto. Agents will need wallets, credentials, payment systems, and clear operating rules. They'll also have to hold value, spend within predetermined limits, and prove who they represent and leave records that can be checked later.

Traditional (fiat) payments can handle some of that. They were built around people and companies, though, with cardholders, bank accounts, and familiar liability rules at the center.

But AI agents need a different design. They may need to execute lots of small transactions, interact across services, follow pre-set budgets, and operate inside tightly defined permissions, and that calls for a much more programmable setup.

Luckily, crypto has spent years building products and infrastructure that fit those needs.

Wallets are the best example. In crypto, a wallet can be more than a storage tool, as spending caps, whitelists, approval requirements, and delegated access can all sit inside its design.

That makes it easier to create an AI agent with narrow authority: one that can pay approved vendors, stay inside a budget, and act only within a specific task.

Identity will also become very important. As agents spread, platforms will need better ways to answer basic questions, like what this agent is, who authorized it, and what it can do.

a16z is now calling this shift “Know Your Agent,” arguing that the bottleneck in the agent economy is moving from intelligence toward identity. According to the company's own estimates, non-human identities in financial services already outnumber human employees by 96 to 1.

However, crypto identity systems aren't completely ready to dominate. They do, however, match the shape of the challenge. Cryptographic credentials and portable attestations give software a way to prove origin, authority, and permissions in a form that other systems can verify.

Payments are the third piece, and probably the one that markets will grasp fastest.

If agents start doing economic work online, they'll need a way to move money that looks and feels native to the web.

Stablecoins stand out here more than almost anything else in crypto. They're dollar-linked digital assets that can move globally, around the clock, and with a level of programmability that fits software-driven activity especially well. Even BIS noted stablecoins have become increasingly appealing for cross-border payments and trade settlement, despite warning about their limits and policy risks.

Why crypto could benefit more than the “AI coin” crowd

All of this led large payment firms to lean into crypto.

Visa publicly described secure agent-driven transactions and says agentic commerce introduces new complexity and new forms of risk as agents enter payment flows. Stripe launched products aimed at stablecoins and what it calls “agentic commerce.” Mastercard said agentic commerce is expanding and launched a new crypto partner program built around programmability and real-world digital asset use.

That mainstream validation helps because the broader AI trend is already real. OECD data shows company adoption of AI rising from 8.7% in 2023 to 14.2% in 2024 and 20.2% in 2025. While these numbers don't show an overnight takeover, they do point to a growing wave of software systems taking on narrow, but meaningful work inside the economy.

When you look at it from that angle, the clearest opportunity for crypto in AI is pretty boring. Crypto will penetrate AI with stablecoin infrastructure, wallets, identity and credential layers, and audit and settlement systems for economic activity that's initiated by software.

That's also one of the reasons why so many AI-branded crypto tokens struggle to hold value. An AI narrative can attract attention for a while, but lasting value usually comes from the layers people actually use. In this case, that points far more toward digital dollars, machine wallets, and verifiable credentials than toward speculative “agent coins.”

Bitcoin fits into this story a bit more indirectly. It can still benefit from a stronger digital-asset environment and from broader acceptance of internet-native finance. But if an AI agent is paying for software, data, or cloud services, the most obvious fit is definitely not Bitcoin, but a stable, programmable unit of value.

There are still real obstacles here. Trust, security, fraud, and liability won't get solved instantly just because an agent gets a wallet. Businesses will want tighter oversight, platforms will want stronger authentication, and regulators will want accountability that holds up under pressure.

The more autonomy software gets, the greater the demand for systems that can express identity, permission, budget, and verification in a clear digital form. Crypto has been building those pieces for years, often without an obvious mainstream destination.

AI agents may finally give them one.

For a long time, crypto’s biggest problem was that many people couldn't see why ordinary users needed a separate financial system online.

The answer may come from a different direction, because we now see that the perfect user of programmable money is actually software. The strongest use case for machine-friendly identity may come from non-human users. And the most compelling role for crypto may emerge when agents need to buy, coordinate, and transact across the internet on their own.

If that happens, crypto’s long search for product-market fit could end in an unexpected place: as a financial layer for software that can act.

The post The crypto winners from AI are not AI coins as agents start spending autonomously appeared first on CryptoSlate.

After weeks of persistent downside pressure, Bitcoin is showing early signs of recovery. With only a couple of days left in March, BTC’s monthly candle has flipped green—potentially marking a significant shift in market sentiment.

If the month closes this way, it would end a streak of five consecutive red monthly candles, a rare and closely watched pattern in crypto market cycles. Historically, such prolonged bearish phases often precede periods of consolidation or reversal, making this moment particularly important for traders and investors.

Why did Bitcoin Price surge upwards?

The primary catalyst behind the sudden recovery from $65,000 was a mix of geopolitical de-escalation and aggressive institutional accumulation. Reports from Bloomberg and other major outlets indicate that markets reacted instantly to headlines regarding a potential five-day postponement of military strikes in the Middle East.

Specifically, the market responded to statements from the U.S. administration suggesting that "productive conversations" were taking place, leading to a sharp "risk-on" move across both equities and crypto. In the crypto markets, this was amplified by a "short squeeze," where traders betting on further downside were forced to buy back their positions as the price surged toward $67,500.

Breaking the Five-Month Red Streak

If Bitcoin manages to close March in the green, it would mark a big turning point for the 2026 cycle. Up until now, it’s been five straight red monthly candles—something you don’t see often, and definitely not easy for investors to sit through.

From October 2025 to February 2026, the market stayed under heavy pressure, with sentiment dropping into “Extreme Fear” (as low as 8/100). Now, as of March 30, there’s a real chance we finally get a green monthly close.

Strategy and Institutional Buying Power

Despite the "Extreme Fear" sentiment prevailing in the retail sector, institutional accumulation has reached a fever pitch. Reports indicate that Strategy (the single largest corporate holder) has accumulated roughly 45,000 BTC in the past 30 days alone. This represents the fastest rate of increase in their holdings over the past year.

Furthermore, the launch of new crypto-asset ETNs by major banks like BNP Paribas in France on March 30, 2026, has provided additional structural support. These regulated products allow retail and wealth management clients to gain exposure to $Bitcoin and $Ethereum without the complexities of direct custody.

Ethereum and Altcoins Join the Rally

Bitcoin isn't the only asset flashing green. Ethereum has mirrored this recovery, successfully reclaiming the $2,000 psychological barrier and trading near $2,050. The broader market often looks to ETH as a gauge for "altseason" potential, and its strength suggests that the current rally has breadth beyond just a BTC bounce.

The easing of tensions has also caused oil prices to drop significantly, which traditionally helps risk-on assets. When the cost of energy stays stable, the fear of runaway inflation diminishes, giving investors more confidence to rotate back into the crypto market.

Bitcoin Price Analysis: What’s Next for BTC?

From a technical standpoint, Bitcoin's ability to hold the $65,000 level and push toward $68,000 is crucial. This zone has acted as a "Bull/Bear Line" throughout March.

• Support Re-test: BTC successfully defended the $63,700 - $65,000 range.
• Resistance: The $69,000 - $70,000 mark remains the big hurdle for a full trend reversal.
• Volume: The recovery saw a 53% jump in 24-hour trading volume, validating the move as more than just a "dead cat bounce."

What Is Happening to Markets Right Now?

Global financial markets are entering a phase that goes far beyond a typical correction. Over the past 24 hours, a combination of geopolitical escalation, energy supply disruptions, and tightening liquidity conditions has triggered a broad risk-off move across assets.

Oil prices have surged above $100 as tensions in the Middle East escalate, while disruptions to Russian energy infrastructure and export bans are tightening global supply. At the same time, trillions have been wiped from global equity markets.

Crypto has not been spared.

Bitcoin is holding near key levels but remains under pressure, while altcoins like $SOL and $DOGE are experiencing sharper declines. This synchronized weakness across asset classes signals something deeper than normal volatility.

👉 This is not just a dip — it may be a liquidity event.

What Is a Liquidity Crisis — and Why It Matters for Crypto

A liquidity crisis occurs when capital becomes scarce across financial markets. Investors begin pulling money out of risk assets, preferring cash or safer instruments.

This typically happens when:

• Global uncertainty spikes (war, geopolitical risks)
• Inflation expectations rise (oil shocks)
• Central banks are unable to ease monetary policy

In this environment, markets behave differently:

• Good news gets ignored
• Risk assets fall together
• Volatility increases across all sectors

Crypto, often viewed as an alternative system, is currently behaving like a high-risk asset — not a safe haven.

Why Crypto Is Falling Despite Bullish News

Under normal conditions, recent developments should have pushed crypto higher:

• President Donald Trump signaling strong support for Bitcoin and crypto adoption
• Institutional momentum growing, with major financial figures entering the market
• Increasing global interest in crypto as a payment and financial alternative

Yet, prices are declining.

This highlights a critical shift:

👉 Liquidity is dominating the market narrative.

When liquidity tightens, even the strongest bullish catalysts lose impact. Investors prioritize capital preservation over growth opportunities.

Oil Shock + War = Liquidity Drain

The current crisis is being driven by a powerful macro chain reaction:

• Escalating tensions involving Iran and the Strait of Hormuz
• Disruptions to Russian oil production and exports
• Saudi Arabia increasing pipeline output to stabilize supply
• Oil prices surging rapidly

This creates a feedback loop:

• Higher oil → higher inflation expectations
• Higher inflation → tighter monetary conditions
• Tighter conditions → less liquidity in markets
• Less liquidity → sell-off in risk assets (including crypto)

👉 Crypto is reacting to macro pressure, not internal weakness.

Is This the First Real Test for Crypto as a Global Asset?

Previous crypto downturns were mostly driven by internal events:

• Exchange collapses
• Regulatory crackdowns
• Market cycles

This time is different.

Crypto is now being tested within a global macroeconomic crisis, alongside traditional markets.

This raises an important question:

👉 Can crypto evolve from a speculative asset into a true macro hedge?

So far, the answer is mixed.

Bitcoin is holding relatively strong compared to altcoins, suggesting some resilience. However, it is still behaving more like a tech stock than digital gold in this phase.

What Happens Next?

Two scenarios are now unfolding:

Short-Term (High Risk)

• Continued volatility driven by war headlines
• Potential further downside if oil continues rising
• Liquidity remains tight

Mid-Term (Opportunity Phase)

• If geopolitical tensions stabilize → strong rebound potential
• Bullish fundamentals (institutional adoption, macro distrust) remain intact
• Crypto could regain its “alternative system” narrative

👉 Liquidity cycles, not narratives, will determine timing.

Final Take: A Defining Moment for Crypto

The current market environment may represent the first true global liquidity stress test for crypto.

For the first time, Bitcoin and altcoins are reacting primarily to:

• Energy markets
• Geopolitical risk
• Global liquidity conditions

Not crypto-native developments.

👉 This is a sign of maturity — but also vulnerability.

Whether crypto emerges stronger from this phase will define its role in the global financial system for years to come.

$BTC, $ETH, $SOL, $DOGE

The question of whether Ethereum (ETH) can really act as a store of value is coming up more and more as the network grows into a core part of the decentralized economy. That label used to belong almost entirely to Bitcoin, seen as “digital gold” because of its fixed supply. But since the Merge and the upgrades that followed, Ethereum has started to play by a different set of rules—and that’s starting to shift the conversation.

As of March 2026, Ethereum isn’t just for developers anymore. It’s become a global settlement layer. Still, with the price moving sideways lately, investors are asking the obvious question: is holding ETH actually a solid way to preserve value over time?

Is ETH a Store of Value?

$Ethereum is starting to be seen as a real store of value—but it works differently than $Bitcoin. Bitcoin’s story is all about scarcity. Ethereum, on the other hand, gets its value from how much the network is actually used, plus the fact that it can generate yield.

By staking ETH, holders can earn a native return—usually around 2.8% to 3.5%. That helps offset inflation and adds a compounding effect you simply don’t get with assets that don’t produce any yield.

What Makes an Asset a "Store of Value"?

A store of value is an asset that maintains its purchasing power over time without significant depreciation. To qualify, an asset typically requires:

• Scarcity: A controlled or diminishing supply.
• Security: A network resistant to attacks (Ethereum is secured by billions in staked capital).
• Liquidity: The ability to be traded easily for other goods or fiat.
• Demand: Consistent use cases that drive long-term interest.

Analyzing the 5-Year ETH Price History (2021–2026)

Looking at the technical data from the past five years, Ethereum has exhibited a distinct pattern of "high-velocity growth followed by structural consolidation."

The Consolidation Phase ($2,000 - $4,000)

Since the peak of the 2021 bull run and the subsequent market correction, ETH has largely spent the period between 2024 and early 2026 consolidating within a massive horizontal channel.

• The Floor: Strong support has formed around the $2,000 level. This psychological and technical barrier has held firm despite various macro headwinds and regulatory uncertainties.
• The Ceiling: Resistance remains heavy between $4,000 and $4,800. Every attempt to break into "price discovery" mode has been met with institutional profit-taking and rotation into newer ecosystem plays.

This prolonged consolidation is actually a healthy sign for a "store of value" thesis. It suggests that Ethereum is moving away from the "lottery ticket" volatility of its early years and toward a more stable, mature asset profile.

The "Ultrasound Money" Narrative: Is it Still Valid?

The term "ultrasound money," coined by Ethereum researcher Justin Drake, suggests that if Bitcoin is "sound" because its supply is capped, Ethereum is "ultrasound" because its supply can actually shrink.

How the Burn Mechanism Works

Under EIP-1559, a portion of every transaction fee is "burned" (destroyed). In 2026, we see a dual-track economic model:

• During High Activity: When DeFi and NFT volumes spike, more ETH is burned than issued to stakers, making the supply deflationary.
• During Low Activity (The L2 Shift): With the rise of Layer-2 solutions like Base and Arbitrum, some activity has moved off the mainnet. This has led to periods of slight inflation (approx. 0.7% annually), as seen in early 2026.

Despite this fluctuation, Ethereum's total supply remains significantly lower than it would have been under the old Proof-of-Work system, maintaining its competitive edge against fiat currencies.

Ethereum vs. Bitcoin: The Store of Value Showdown

While Bitcoin remains the king of "pure" scarcity, major institutions like BlackRock have highlighted Ethereum's role in the tokenization of real-world assets. This utility creates a "structural demand" for ETH that persists regardless of speculative market cycles.

Risks to the Ethereum Store of Value Thesis

No investment is without risk. For Ethereum to maintain its status, it must navigate:

• Regulatory Shifts: The classification of staked ETH by global regulators continues to be a point of contention.
• L2 Cannibalization: If too much activity moves to Layer-2s without enough value accruing back to the Layer-1, the "burn" mechanism may not be enough to sustain deflation.
• Technological Complexity: Unlike Bitcoin's "set in stone" code, Ethereum is constantly evolving, which introduces potential smart contract or upgrade risks.

Is Ethereum a Good Store of Value for the Future?

For investors seeking a balance between growth and preservation, Ethereum is a compelling store of value. It offers the security of a battle-tested blockchain combined with the unique advantage of native yield. While it may experience more volatility than Bitcoin, its role as the "Internet's Bond" makes it a foundational asset for any modern digital portfolio.

As we look toward the remainder of 2026, the current consolidation phase provides a strategic entry point for those who believe in the long-term "ultrasound" roadmap.

Seeing Bitcoin trade between $65,000 and $75,000 in March 2026—basically the same levels as the 2021 highs—has made a lot of retail investors think nothing’s really changed. But that takeaway misses the bigger picture. Price tends to lag behind what’s actually happening under the surface.

Even if the numbers look familiar, the market itself is very different now. Back in 2021, it was largely driven by retail hype and stimulus money. Today, it’s a different crowd—sovereign players and massive asset managers are setting the tone, and the overall risk and utility of crypto have shifted with it.

The "Same Price" Paradox

Yes, it is still worth investing in crypto, precisely because the market has successfully "absorbed" the speculative excesses of the past. If you bought $Bitcoin at $69,000 in 2021, you were buying a speculative experiment. Buying it at the same price in 2026 means buying a globally recognized digital commodity with settled regulatory status. The "long-term game" is no longer about hoping for a 10x in a week; it is about securing a position in the world's most efficient financial settlement layer.

Price vs. Infrastructure

To assess if crypto is "worth it," investors must distinguish between Price Action and Network Value.

• Price Action: The short-term fluctuation driven by liquidations and headlines.
• Network Value: The total economic activity settled on-chain, which has grown by over 400% since 2021, even while prices consolidated.

2021 vs. 2026: Why "No Progress" is an Illusion

A direct comparison of the 2021 peak and the current 2026 market reveals why the "sideways" movement is actually a massive bullish consolidation.

The 10-Year Horizon

According to recent data from BlackRock, Bitcoin ETFs now hold over 1.3 million BTC, nearly 6.5% of the total supply. In March 2026, the 20-millionth Bitcoin was officially mined. With fewer than 1 million coins left to be produced and the 2028 halving approaching, the scarcity narrative is transitionary from "theory" to "mathematical certainty."

Moving Beyond the Top Two

While Bitcoin is the "digital gold," the broader ecosystem offers different value propositions. If you are looking for yield or utility, platforms like Ethereum and Solana have transitioned from experimental testnets to hosting tokenized U.S. Treasuries and private credit.

Is it "Late" to the Party?

The feeling of being "late" usually stems from comparing current prices to $100 Bitcoin. However, if Bitcoin captures even 15% of the global gold market (currently $15 trillion), its valuation would exceed $500,000 per coin. In 2026, we are in the "Early Majority" phase of adoption. The "easy money" from 1,000x gains is gone for major assets, but the "safe money" for 15-20% annualized growth is just arriving.

Why the "Long-Term Game" Wins

• Supply Dynamics: The issuance rate is mechanically shrinking while institutional "buy-and-hold" demand is growing.
• Fiat Devaluation: As global debt levels rise, the appeal of a fixed-supply asset increases as a hedge against inflation.
• Integration: In 2026, crypto is no longer a separate "silo." It is the backend of modern fintech.

Is Crypto Still a Good Investment?

BTC at $70k in both 2021 and 2026—should not be viewed as a failure of growth, but as the successful establishment of a new floor. The volatility that characterized the early 2020s is dampening as deeper liquidity enters the market. If your timeframe is 5 to 10 years, 2026 represents one of the most de-risked entry points in history.

• Final Note: "In crypto, the price tells you what happened yesterday, but the infrastructure tells you what will happen tomorrow."

As tensions in the Middle East reached a boiling point, risk assets—including $Bitcoin and major altcoins—faced a sharp "risk-off" liquidation. However, as diplomatic channels begin to signal a potential de-escalation, savvy investors are looking at the "blood in the streets" as a generational entry point.

Historically, markets overreact to geopolitical shocks. If a resolution is reached in early April, the pent-up liquidity currently sitting in stablecoins is expected to flood back into high-conviction projects that were unfairly hammered during the panic.

Is April a Good Time to Buy Crypto?

Potentially, as April 2026 is shaping up to be a prime recovery month. With many tokens trading at 20-30% discounts from their Q1 highs, the current "oversold" conditions on the RSI (Relative Strength Index) suggest a relief rally is imminent.

1. Ethereum (ETH): The Race Back to $3,000

$Ethereum remains the backbone of the decentralized economy. During the recent March turbulence, ETH slipped below its psychological support, but the fundamentals remain unshaken.

• Recovery Catalyst: The successful implementation of the "Prague" upgrade earlier this year has further reduced Layer-2 costs.
• Price Target: Analysts expect a swift recovery to the $3,000 mark as institutional ETH ETFs see renewed inflows once the global macro outlook stabilizes.

Investors should monitor the ETH price closely, as its recovery usually leads the broader altcoin market.

2. PEPE: The Volatility King

For those with a higher risk appetite, $PEPE remains the go-to memecoin for catching rapid bounces. Memecoins often act as high-beta plays on market sentiment; when the market turns green, PEPE tends to move twice as fast as the majors.

• Current State: PEPE lost significant ground in March but has maintained a strong community floor.
• Why Buy: Its extreme volatility makes it an ideal candidate for a "relief rally" play. As retail investors return to the market in April, the low-unit bias of PEPE often attracts massive speculative volume.

3. XRP: Regulatory Clarity Meets Institutional Adoption

$XRP has faced a double-whammy of geopolitical pressure and a temporary "capital flight" toward safer havens. However, its role in cross-border payments, especially in the Middle East, makes it a unique asset to watch as regional stability returns.

• Market Position: Having secured full regulatory clarity in late 2025, XRP is no longer a "gamble" but a utility-driven asset.
• Outlook: It has lost nearly 15% in the last month, making the XRP price highly attractive for those betting on the continued expansion of RippleNet.

4. Cardano (ADA): The "Deep Value" Opportunity

$Cardano is currently one of the most oversold "blue-chip" altcoins. While critics point to its slower price action, the network's resilience and growing DeFi TVL (Total Value Locked) suggest it is undervalued.

• The Dip: ADA has hit multi-month lows, hovering near critical demand zones.
• The Play: Historically, ADA performs well in the second stage of a market recovery.

5. Solana (SOL): The Ecosystem Powerhouse

No "Top 5" list for 2026 is complete without $Solana. Despite the market-wide dip, Solana continues to lead in retail transaction volume and NFT activity.

• Technical Outlook: SOL has shown incredible strength in bouncing off the $80-$100 support range.
• Why April: With the Firedancer upgrade nearing full optimization, Solana's throughput is unmatched. Any return of "risk-on" sentiment will likely see SOL outperform Bitcoin in percentage gains. You can compare Solana's performance against other majors on our exchange comparison page.

Top 5 Cryptos to Buy in April 2026

Analysts attribute last week's BTC ETF outflows to geopolitical tensions, fading ceasefire hopes, and end-of-quarter rebalancing.

A yield ban, a rival's audit, and an unresolved legislative clock have left Circle's stock in limbo for the past week.

Ethereum has rolled out a steady stream of upgrades since 2022. Here’s how those changes fit together—and what’s still ahead.

Xiaomi's MiMo V2 family arrives quietly but lands hard—a trillion-parameter AI challenger that nobody in the West saw coming.

GameStop has pledged nearly all of its Bitcoin to a covered call strategy on Coinbase Prime to generate some yield.

Robert Kiyosaki reveals the big “investor secret” about Bitcoin and Ethereum in 2026.

Veteran NPR host Scott Simon has become the latest prominent media figure to have his X account hijacked by cryptocurrency scammers seeking to exploit his massive platform.

Ripple CEO Brad Garlinghouse is celebrating what he calls a "massive change" in the institutional perception of crypto.

The market is seeing a substantial movement of funds ahead of the trading week, which could be an important signal.

Shiba Inu lead ambassador Shytoshi Kusama has maintained five weeks of silence on social media, with expectations increasing in the SHIB community.

TLDR:

• Capital B converted 19,917,972 OCA B-01 bonds into 36,613,919 ordinary shares at €0.544 per share
• Revised bond terms now allow Blockstream and UTXO Management to convert at any time without conditions
• Blockstream Capital Holdings will hold 43,118,442 ordinary shares after all operations are completed.
• The €2.8M raise came from BSA 2025-01 legal adjustment subscriptions by both institutional investors.

Capital B announced on March 30, 2026, the conversion of 19,917,972 OCA B-01 bonds held by Blockstream Capital Holdings and UTXO Management. The company also completed a €2.8 million capital raise as part of its Bitcoin Treasury Company strategy.

Amended Bond Terms Trigger Large-Scale OCA B-01 Conversions

Capital B updated the conversion terms and conditions of OCA B-01 and OCA B-02 tranches held by Blockstream Capital Holdings.

These bonds were issued by Capital B Luxembourg SA, a wholly owned subsidiary of the company. The revised terms now allow bondholders to convert at any time, without any share price threshold requirement. Previously, a share price condition restricted when the holder could initiate a conversion.

Blockstream Capital Holdings subsequently converted 17,897,600 OCA B-01 bonds into 32,900,000 ordinary shares of Capital B.

The conversion price was fixed at €0.544 per share. This price represents a 4.2% discount to the closing price on the trading day immediately before the announcement.

UTXO Management also converted all 2,020,372 of its OCA B-01 bonds under the same revised terms. This resulted in the issuance of 3,713,919 new ordinary shares at €0.544 per share. UTXO Management now holds no remaining OCA B-01 bonds following the full conversion.

Capital B signed an identical amendment with UTXO Management for its separate OCA B-01 tranche. The removal of the share price condition aligns these instruments more closely with current market conditions.

This also strengthens the incentive structure of the conversion mechanism. The Company had applied similar amendments to TOBAM’s OCA A-03, A-04, and A-05 tranches on March 17, 2026.

Capital Raise and Legal Adjustment Measures Complete the Transaction

Blockstream Capital Holdings acquired its bond and share holdings through a transfer from Fulgur Ventures, the original subscriber. The transfer included 10,000,000 ordinary shares, 32,092,952 OCA B-01, and 55,279,428 OCA B-02 bonds.

Blockstream Capital Holdings is an investment group focused on the convergence of Bitcoin and global finance. It is affiliated with individuals behind Fulgur Ventures and separately with Adam Back.

Following the conversions, both investors qualified for legal adjustment measures tied to the April 2025 BSA 2025-01 warrant allocation.

Under these terms, OCA B-01 holders who convert receive one BSA 2025-01 warrant per new share. They may then subscribe to one additional share for every seven warrants, at €0.544 each.

Blockstream Capital Holdings exercised this right by subscribing to 4,700,000 new shares at €0.544, for a total of €2,556,800.

UTXO Management subscribed to 530,559 new shares at the same price, contributing €288,624.10. Together, these two cash subscriptions form the €2.8 million capital raise announced by Capital B.

After all operations are finalized, Blockstream Capital Holdings will hold 43,118,442 ordinary shares in Capital B. UTXO Management will hold 4,244,478 shares upon completion of the transaction.

Blockstream Capital Holdings also retains 14,195,352 OCA B-01 and 55,279,428 OCA B-02 bonds for potential future conversion.

The post Capital B Converts 19.9M OCA B-01 Bonds and Raises €2.8M to Advance Bitcoin Treasury Strategy appeared first on Blockonomi.

Key Takeaways

• Beyond Meat’s Q4 2025 earnings release is set for Tuesday, March 31, after market close, postponed from March 25 due to identified “material weaknesses” in financial reporting controls.
• Analysts project approximately $63 million in quarterly revenue, marking an 18% decline from the prior year, with an anticipated loss of $0.10 per share.
• The options market indicates an extraordinary 30% potential price movement following the announcement — dramatically exceeding the company’s historical 7–10% earnings volatility.
• The plant-based food manufacturer faces a Nasdaq compliance deadline after its shares traded under $1 for 30 consecutive trading sessions, with until August 31, 2026 to regain compliance or potentially implement a reverse split.
• Major institutional players aggressively accumulated shares in Q4, including Geode Capital (445% increase), Charles Schwab (497% boost), and Virtu Financial (670% surge), bringing institutional ownership to 52.48%.

Beyond Meat’s transformation from high-flying growth stock to struggling penny stock represents one of the more dramatic reversals in recent market history. The company now prepares for what may prove to be its most pivotal earnings announcement to date.

Beyond Meat, Inc., BYND

The alternative protein manufacturer is scheduled to unveil its fourth quarter 2025 financial results following Tuesday’s market close on March 31. Initially slated for March 25, the earnings date was rescheduled after management disclosed significant deficiencies in the company’s financial reporting oversight systems. This postponement immediately triggered investor concern.

Analyst consensus calls for quarterly revenue near $63 million, though Beyond Meat has already pre-announced softer numbers — management’s preliminary guidance suggests Q4 revenue closer to $61 million. This shortfall versus expectations underscores persistent demand challenges. Full-year revenue is projected to decline approximately 10% to $275 million.

The anticipated per-share loss of roughly $0.10 represents a substantial improvement from the $0.65 loss recorded in the comparable year-ago period. This narrowing loss represents among the few encouraging data points investors can point to ahead of Tuesday’s disclosure.

On March 16, Beyond Meat announced it would postpone its annual 10-K submission to conduct additional inventory analysis. Mizuho’s John Baumgartner, maintaining an Underperform rating with a $1 target, characterized this development as concerning. He highlighted weakening demand across major markets and noted the company’s protein beverage expansion faces intense competitive pressure.

Wall Street sentiment remains decidedly negative. Six analysts maintain Sell recommendations on BYND, with two at Hold, while the consensus target price of $1.70 sits significantly above current trading levels. Weiss Ratings reiterated its “sell (e+)” assessment in January.

Nasdaq Compliance Challenge and Ticking Deadline

Beyond its quarterly results, the company confronts an additional existential threat. Beyond Meat received formal notification from Nasdaq after shares remained beneath the $1 minimum bid price threshold for 30 straight trading days. Management has until August 31, 2026, to restore compliance above $1. Failure to achieve this will likely necessitate a reverse stock split.

Shares have plummeted approximately 77% during the trailing twelve months. The stock’s 50-day moving average sits at $0.78, while its 200-day moving average rests at $1.28 — both substantially above current price levels.

Derivatives Market Anticipates Extreme Movement

Options pricing suggests a potential 30% price swing in either direction following the earnings announcement. This expectation is three to four times larger than Beyond Meat’s standard 7–10% post-earnings volatility pattern.

To contextualize, a 30% movement from the current $0.65 price level establishes a probable trading range between approximately $0.46 and $0.85. The downside scenario would push BYND perilously near its historical low of $0.50.

Notwithstanding these headwinds, certain institutional investors have been accumulating shares. Geode Capital Management expanded its stake by 445%, Charles Schwab increased holdings by 497%, and Virtu Financial boosted its position by 670% throughout Q4. Institutional ownership now accounts for approximately 52.48% of outstanding shares.

The analyst community remains predominantly skeptical, citing ongoing revenue pressure, unresolved accounting control issues, and the looming Nasdaq compliance deadline that began counting down in early 2026.

The post Beyond Meat (BYND) Stock Faces Critical Q4 Earnings Amid Nasdaq Delisting Risk appeared first on Blockonomi.

Key Takeaways

• AMZN shares have declined approximately 14% in 2026, currently trading around $199 after hitting a 52-week peak of $258.60.
• Jefferies analyst Brent Thill sustains a Buy recommendation with a $300 price objective, suggesting potential gains of ~44.5%.
• Market anxieties center on substantial AI capital expenditures (~$200B for FY26), AWS performance relative to competitors, and recent insider share sales totaling $14.7M in the past 90 days.
• Thill contends the market is treating AMZN as a legacy retail company while overlooking AWS potential and artificial intelligence opportunities.
• Analyst consensus remains at Strong Buy, with an average 12-month target of $284.30 based on 44 analysts’ ratings.

Amazon (AMZN) shares have experienced turbulence entering 2026, shedding roughly 14% since the year began. The stock kicked off Friday’s session at $199.34, significantly beneath its 52-week peak of $258.60.

Amazon.com, Inc., AMZN

The decline stems from a combination of macroeconomic headwinds and Amazon-specific challenges. Escalating oil prices, geopolitical instability in the Middle East, and weakness across the technology sector have weighed on shares, with the Nasdaq recording its steepest weekly decline in almost twelve months.

From a company perspective, market participants are concerned about Amazon’s ambitious artificial intelligence investment blueprint. Capital expenditures for FY26 are projected to reach approximately $200 billion, representing a 56% year-over-year increase, which Wall Street anticipates will generate negative free cash flow in the range of $8–$11 billion throughout this fiscal year.

AWS expansion has also lagged behind competing platforms Azure and GCP, prompting speculation about whether Amazon is ceding market share in the cloud infrastructure space. Additionally, two high-ranking executives have exited the company’s Annapurna Labs chip division within recent months, intensifying concerns regarding the execution of its proprietary AI semiconductor initiative.

Insider transactions have further dampened investor confidence. During the past 90 days, company insiders disposed of 71,686 shares valued at approximately $14.7 million. CEO Douglas Herrington liquidated shares near the $205 level in late February, while SVP David Zapolsky trimmed his holdings by over 20% during a similar timeframe.

Jefferies Challenges the Bearish Narrative

Jefferies analyst Brent Thill believes the market response is excessive. He contends investors are valuing AMZN as if it were a stagnant retail operation while disregarding AWS, advertising revenue streams, and artificial intelligence potential.

Regarding capital expenditures, Thill characterizes the situation as a “timing issue.” He maintains the spending reflects genuine customer demand — expanding backlog commitments and extended AI infrastructure contracts — and anticipates free cash flow will rebound once capacity deployment accelerates and capex growth rates stabilize.

Concerning AWS, Thill forecasts renewed acceleration, highlighting strengthening backlog conversion metrics and a multi-billion-dollar AI revenue trajectory. He also refutes suggestions that Amazon is falling behind in the AI race, asserting its model-neutral cloud infrastructure positions it more favorably for enterprise-scale AI deployment compared to competitors with more publicized proprietary models.

His valuation target: $300, representing 44.5% appreciation from present levels.

Broader Wall Street Sentiment

Thill’s optimism is widely shared across the Street. The consensus rating stands at Strong Buy, with 41 additional Buy recommendations and only 3 Hold ratings. The mean 12-month price objective reaches $284.30, implying approximately 43% upside potential.

Not all analysts share this enthusiasm. DA Davidson slashed its target to $175 from $300 following Q4 earnings. Amazon marginally underperformed on EPS estimates, delivering $1.95 versus the $1.97 consensus expectation, although revenue of $213.4 billion exceeded forecasts by approximately $2.4 billion.

Among institutional investors, Westview Management established a fresh $4.92 million stake in AMZN during Q4, positioning it as their 12th-largest portfolio holding. Several other institutional firms similarly increased or initiated positions throughout the quarter.

Citi and JPMorgan have both elevated their price projections recently, referencing accelerating demand for AWS AI infrastructure. Bernstein has similarly identified Amazon as a key beneficiary in the AI and cloud computing landscape alongside Nvidia.

The equity currently trades at a P/E ratio of 27.8 with a market capitalization of $2.14 trillion. Its 50-day moving average stands at $216.42 while the 200-day average rests at $225.20 — both considerably above the current trading price.

Amazon’s Q1 earnings announcement will serve as the next significant catalyst for share price movement.

The post Amazon (AMZN) Stock Down 14% YTD — Analysts Still Project 44% Rally Ahead appeared first on Blockonomi.

TLDR

• The Ethereum Economic Zone (EEZ) was revealed by Gnosis, Zisk, and the Ethereum Foundation during EthCC in Cannes
• This framework enables direct interaction between Ethereum layer-2 platforms without requiring bridge technology
• More than 20 operational L2 solutions currently secure approximately $40 billion but function as isolated ecosystems
• Ethereum co-founder Vitalik Buterin has voiced concerns that the existing L2 strategy requires fundamental changes
• A collaborative “EEZ Alliance” will establish standards and promote widespread implementation

A coalition of Ethereum builders has introduced a groundbreaking framework targeting a critical weakness in the network’s architecture: the disconnected nature of its layer-2 scaling solutions.

Dubbed the Ethereum Economic Zone (EEZ), this initiative made its debut at the EthCC gathering in Cannes on March 29. The collaboration involves Gnosis, Zisk, and the Ethereum Foundation as primary architects.

Currently, Ethereum depends on layer-2 solutions to process higher transaction volumes with reduced costs. However, these platforms — such as Arbitrum, Base, and Optimism — function as independent entities. Transferring digital assets among them necessitates bridge protocols, which introduce delays, expenses, and security vulnerabilities.

The EEZ framework promises to eliminate these obstacles. It would enable direct smart contract communication across distinct layer-2 environments instantaneously, bypassing bridge requirements, while maintaining final settlement on Ethereum’s base layer.

The initiative also commits to maintaining ETH as the primary fee currency, avoiding the proliferation of additional tokens.

According to L2BEAT analytics, over 20 functioning layer-2 networks collectively safeguard nearly $40 billion in assets. This substantial capital remains distributed across disconnected platforms rather than functioning as unified liquidity.

Friederike Ernst, co-founder of Gnosis, explained: “Ethereum doesn’t have a scaling problem. It has a fragmentation problem. Every new L2 is a silo that makes it harder to seamlessly extend and drive value back to the Ethereum mainnet.”

Implications for the Developer Community and End Users

From a development perspective, the EEZ would eliminate the necessity of reconstructing identical infrastructure across each separate network. Core tooling and resources could operate universally across all rollups.

For everyday users, the objective is creating a cohesive experience where multiple Ethereum networks operate as a single, integrated platform.

Vitalik Buterin Has Voiced Similar Concerns

Vitalik Buterin, Ethereum’s co-founder, has been forthright about limitations in the present L2 architecture. In an X platform post dated February 3, he stated: “The original vision of L2s and their role in Ethereum no longer makes sense, and we need a new path.”

His observations sparked varied responses from layer-2 development teams. Karl Floersch from Optimism conceded that L2 platforms must advance beyond mere transaction scaling. Steven Goldfeder of Offchain Labs, the team behind Arbitrum, maintained that scalability remains an essential priority.

The EEZ framework appears specifically designed to resolve Buterin’s highlighted issues through consolidated liquidity pools, common infrastructure resources, and streamlined user interactions.

An “EEZ Alliance” is concurrently being established. This coalition will unite ecosystem stakeholders to harmonize technical standards and facilitate broader adoption.

Comprehensive technical specifications and performance metrics are anticipated in forthcoming announcements.

The post Ethereum’s Fragmentation Crisis Gets a Solution: Inside the Economic Zone Initiative appeared first on Blockonomi.

Key Highlights

• Walmart’s majority-owned OnePay has rapidly expanded from 2 to over 15 crypto tokens since its January crypto debut
• Latest additions feature Solana, Cardano, Polygon, Arbitrum, SUI, Bitcoin Cash, and PAX Gold
• The service focuses on cryptocurrency newcomers, emphasizing demand, liquidity, and clear regulatory status
• OnePay aims to become a comprehensive US “superapp” offering banking, payment solutions, lending, and digital assets
• New SEC Chair Paul Atkins has voiced approval for unified financial service platforms operating under a single regulatory structure

The fintech application OnePay, which is controlled by retail giant Walmart, has significantly broadened its cryptocurrency selection to exceed 15 different tokens within a matter of months.

When the platform introduced its cryptocurrency features in January, only Bitcoin and Ethereum were available. The service has subsequently incorporated Solana, Cardano, Bitcoin Cash, PAX Gold, Polygon, Arbitrum, and SUI, along with several additional options.

According to Ron Rojany, who serves as OnePay’s general manager for Core App and Crypto, the selection criteria for these digital assets centered on user demand, market liquidity, clear regulatory guidelines, and sustainable long-term value.

“We’re less focused on chasing the latest asset and more focused on offering a curated set of assets that align with how our customers actually use and think about their money,” Rojany told Cointelegraph.

Rojany indicated that the platform is experiencing robust user engagement, particularly among individuals taking their first steps into cryptocurrency who want a straightforward entry point. He declined to provide specific user metrics.

Beyond cryptocurrency, OnePay provides high-yield savings products, credit and debit card options, lending services, and wireless phone plans. The platform features a digital wallet compatible with Walmart physical locations and the retailer’s online shopping platform.

With Walmart’s US division recording $462.4 billion in net sales during fiscal year 2025, OnePay has access to an enormous potential customer pool.

Building America’s Next Superapp

OnePay positions itself as an American answer to the “superapp” concept, drawing inspiration from China’s WeChat platform where consumers manage nearly all their financial activities through a single interface.

The company isn’t pursuing this objective in isolation. Coinbase CEO Brian Armstrong revealed plans in late September to create a comprehensive crypto superapp featuring credit cards, payment processing, and Bitcoin rewards programs designed to challenge traditional banking institutions.

Meanwhile, Japan’s Startale Group announced its intention to utilize a $50 million Series A investment to develop a superapp integrating payments, wealth management, and blockchain-based services.

Favorable Regulatory Environment Emerges

SEC Chair Paul Atkins indicated in September his backing for platforms delivering multiple financial services within a unified regulatory structure.

In July, Atkins revealed he instructed SEC personnel to create guidance enabling the “super-app” concept to become operational reality. The revised regulatory approach would permit platforms to provide trading, lending, and staking capabilities under a consolidated framework.

“We’re still early and our focus is on building our crypto platform the right way: creating a trusted, safe and intuitive experience for everyday customers,” Rojany said.

OnePay introduced its latest tokens — SUI, Polygon, and Arbitrum — merely days after adding the previous group of 10 cryptocurrencies, demonstrating an aggressive expansion timeline since the January rollout.

The post Walmart-Backed OnePay Rapidly Expands Crypto Portfolio Beyond Bitcoin and Ethereum appeared first on Blockonomi.

Following a quiet weekend with little to no actual price moves, bitcoin and the altcoins could be primed for more fluctuations as the business week unfolds due to several big events in the US.

Perhaps the two that are likely to attract the most attention will take place on Monday and Friday.

Powell Talks, Jobs Report Goes Live

The Kobeissi Letter’s key events for the upcoming week are actually seven, but a couple of them might not have any impact on crypto, while the first one already took place – the opening of the futures markets in the US, as well as the legacy markets in Asia and Europe. BTC’s price fluctuations indeed went wild as other financial markets coped with Trump’s latest statements on the war against Iran.

Another big event for today is expected to be the speech from the US Federal Reserve Chair, Jerome Powell. After the second FOMC meeting of 2026, he expressed a hawkish stance regarding the interest rates, which led to another BTC correction.

Tuesday will see the release of March Consumer Confidence data and February JOLTS Job Openings data, both of which, combined, could result in some minor volatility for bitcoin.

The more important March Jobs Report is expected on Friday, which typically leads to fluctuations in the ever-volatile cryptocurrency market.

Key Events This Week:

1. US Market Futures Open, Iran War Day #30 – Today 6 PM ET

2. Fed Chair Powell Speaks – Monday

3. March Consumer Confidence data – Tuesday

4. February JOLTS Job Openings data – Tuesday

5. March ADP Nonfarm Employment data – Wednesday

6. March Retail…

— The Kobeissi Letter (@KobeissiLetter) March 29, 2026

War Impact

Aside from the economic events listed above, the developments on the US/Israel vs Iran war have been impacting bitcoin the most over the past month. As such, any major changes in that regard are expected to continue to increase BTC’s volatility.

The latest reports suggest that the US is indeed preparing to send troops to Iran to seize and control the key oil region of Kharg Island and to extract nearly 1,000 pounds of uranium. Additionally, the WSJ refuted previous reports that the US and Iran had engaged in direct negotiations about ending the war, which would mean more attacks, casualties, global uncertainty, and intense volatility in the financial markets.

The post Crypto Markets Brace for 4 Key Events This Week, Beginning With Powell on Monday appeared first on CryptoPotato.

After an unexpectedly calm weekend in which its price stood between $66,000 and $67,000, bitcoin went on a micro wild ride in the early hours on Monday, dipping to a new monthly low before it jumped toward $68,000.

This volatility ensued after Trump’s latest comments on the US/Israel vs Iran war, which included bragging that it was a “big day in Iran.”

US to Seize Kharg Island?

In addition, an FT report, cited by The Kobeissi Letter, indicated that Trump said he wanted to “take the oil in Iran” and mulls an operation to seize the export hub of Kharg Island. Recall that the relatively small island is responsible for up to 90% of the country’s oil infrastructure.

“To be honest with you, my favorite thing is to take the oil in Iran but some stupid people back in the US say: ‘why are you doing that?’ But they’re stupid people,” Trump said.

The WSJ, on the other hand, doubled down on other reports from the past several days that the US is indeed considering sending troops to Iran, but with a more precise purpose – to extract nearly 1,000 pounds of uranium.

This is believed to be a “complex and risky” mission as it would require US forces to remain in the Middle Eastern country for “days or longer.”

However, Trump believes this step could accomplish the main goal of preventing Iran from ever making a nuclear weapon. He has also advised his staff to “press Iran to agree to surrender the material as a condition for ending the war.”

Although many different reports from the past week or so gave contrasting information on whether both nations have engaged in direct negotiations, the WSJ said this hasn’t been the case yet.

BTC’s Price Reaction

Bitcoin’s weekend price actions were highly underwhelming, with the asset failing to move from the $66,000-$67,000 range. However, it dipped to a new monthly low of just under $65,000 when the legacy spot and futures markets opened during the night, coping with Trump’s latest comments.

It rebounded instantly with a jump of nearly $3,000 to almost $68,000. Most alts mimicked bitcoin’s price volatility, which led to $300 million in liquidated positions in the span of just hours. Longs are responsible for over $200 million, while the single-largest wrecked position took place on Bybit and was worth just shy of $10 million.

The post Bitcoin Volatility Spikes as Trump Brags for Hitting Big Targets in Iran appeared first on CryptoPotato.

A U.S. district court has allowed a class action lawsuit against Nvidia and CEO Jensen Huang to proceed following investor claims that over $1 billion of the company’s crypto revenue was actually hidden in its gaming offering.

The tech giant also failed to prove that its statements on crypto mining revenue did not affect the firm’s stock price.

False Statements

A Wednesday filing suggests that during the 2017-2018 crypto boom, Nvidia misled investors by having them believe they were buying its gaming GPUs. However, the sales were actually tied to the crypto market, and once prices began falling, the firm was left with a lot of unsold inventory that caused its stock price to plummet.

Plaintiffs first sued the company in 2018, alleging that it had not disclosed around $1.3 billion of the total revenue made from these sales and that Huang had downplayed the actual demand. At the time, the CEO appeared in several interviews claiming that the firm’s crypto-related demand was “small.” He also insisted the gaming division was its core business and that crypto simply provided “an extra bit of juice.”

Additionally, the company launched a special crypto SKU chip whose sales were reported under its mining revenue segment. Plaintiffs argue that this was done to convince investors that Nvidia’s gaming business was separate from its mining operations.

According to the filings, the company’s defense was based on the argument that these statements were not made with the intention of influencing investors and, therefore, had no price impact. However, Judge Gilliam Jr. concluded that Nvidia failed to prove this, pointing to an internal email from one of the firm’s executives as evidence.

“They expressed the view that its stock price remained high because of those earlier statements, and the court cannot conclude that there was no price impact in the face of such evidence.”

As a result, the court ruled that the class action was allowed to proceed and scheduled a hearing for April 21.

NVIDIA’s Stock Price Plummets

Things took a turn in 2018 when the crypto market began to weaken. In August, Nvidia announced that it had lowered its revenue and admitted to miners buying its gaming GPUs. The company also shared that its inventory had grown by 36%.

Reacting to the news, Nvidia’s stock price fell by 4.9%. The tech giant later issued another revenue cut announcement, citing a fall in crypto demand.

During this period, Colette Kress, the firm’s CFO, admitted that gaming revenues had missed expectations because of unsold inventory. This resulted in the company’s stock price plummeting by 28.5% over the next two trading sessions.

Meanwhile, the U.S. Securities and Exchange Commission (SEC) previously issued the company a $5.5 million fine for failing to disclose how crypto mining affected its general revenue. Regulators said that it should have told investors that most of its GPU demand came from the miners.

The post Court Allows Nvidia Class Action Over Hidden Crypto Revenue appeared first on CryptoPotato.

Irish authorities have reportedly accessed one of 12 long-dormant Bitcoin wallets belonging to convicted drug dealer Clifton Collins.

On March 24, they transferred 500 BTC worth around $35 million to Coinbase in a single on-chain transaction, a move that was flagged by blockchain intelligence firm Arkham as the first confirmed recovery in a case that has frustrated investigators since 2017.

Dormant Wallet Springs Back to Life

On-chain data shared by Arkham shows 500 BTC left a wallet labeled “Clifton Collins: Lost Keys” at 12:51 on March 24 and was transferred to Coinbase Prime.

With questions raised over who had managed to access Collins’s Bitcoin, a local news outlet reported that it was Ireland’s Criminal Assets Bureau (CAB) that had opened the wallet with technical support from Europol’s Cybercrime Center. However, there are still 11 other wallets remaining, with the untouched holdings amounting to roughly $390 million at BTC’s current price near $71,000.

Collins’s story makes for interesting reading. He once ran large-scale cannabis grow houses in the Dublin area and used his drug profits to buy around 6,000 BTC between 2011 and 2012, when they went for $4 to $6. As a basic precaution against theft, he split his stash equally across 12 wallets, with each holding 500 BTC. He then printed their private keys on paper and hid them inside the aluminum cap of a fishing rod case at a rented property.

Years later, in 2017, Irish police stopped Collins in County Galway for a routine traffic check, upon which they found large amounts of cannabis in his vehicle, leading to his arrest and sparking a wider investigation. He ended up being sentenced to 5 years in prison, with a judge ruling that his BTC holdings were the proceeds of crime and ordering him to forfeit them.

However, during his ordeal with the law, the drug dealer’s landlord apparently cleared the property where he had hidden the papers with his private keys, discarding Collins’s belongings, including the fishing gear, which was reportedly sent abroad and destroyed.

The early BTC investor told authorities the codes were gone for good, leaving all parties locked out, and the court’s ruling was effectively unenforceable until this development.

A Fortune That Grew While It Sat Untouched

Bitcoin has had a rough few weeks, falling below $68,000 after being turned down at $76,000 last week following rising tensions in the Middle East. However, it later rose back to around $71,000, and according to CoinGecko, its price at the time of writing was down more than 3% in the last week but up almost 9% in the last month.

If Collins had still been in possession of the Bitcoin, he would have made a significant profit. At the time of the 2019 court order, his holding was valued at nearly $61 million, with BTC exchanging hands for around $10,150. But that has risen dramatically, and the full original stash would be worth around $426 million, going by the current price. The recovered wallet alone represents a return that’s nearly 18,000 times what the 55-year-old spent to buy some of the BTC.

The post Irish Police Recover $35M Bitcoin From Drug Dealer’s Lost Wallet appeared first on CryptoPotato.

The current hash price environment is squeezing Bitcoin miners’ profitability. CoinShares estimates that 15-20% of the global mining fleet is operating at a loss at the current hash price of $28-30 per PH/day.

In Q4 2025, Bitcoin fell nearly 31%, from an early-October all-time high of almost $126,000 to around $86,000 by late December, while network hash rate remained near record levels, driving hash prices to post-halving lows.

Mining at a Loss

According to the latest findings by CoinShares, miners operating mid-generation hardware, including models below the S19 XP, faced negative cash flow unless they had access to ultra-cheap electricity, typically under $0.05/kWh. These conditions put roughly one-sixth to one-fifth of the global mining capacity below breakeven, which is a clear signal of pressure on older and less efficient operators.

The report found that the weighted average cost of production for publicly listed miners reached $79,995 per Bitcoin in Q4 2025, as a result of higher electricity costs, increased depreciation from new AI and HPC infrastructure, and rising network difficulty. With hash prices compressed, the report identifies three consecutive negative difficulty adjustments in late 2025. This is a rare occurrence not seen since July 2022, and indicates miner capitulation.

Operators running legacy S19-series equipment were particularly impacted, as winter energy costs and ERCOT grid curtailments further increased uneconomic mining hours. CoinShares pointed out that the sector’s margin compression has forced some miners to diversify. A growing number pivoted toward AI and HPC workloads that promise higher and more stable returns compared to cyclical Bitcoin mining.

Despite the sector-wide strain, CoinShares stated that the network hash rate has shown resilience. The global network hash rate peaked at around 1,160 EH/s in October 2025 before dipping roughly 10% by December and early 2026 due to uneconomic operations and regulatory inspections in Xinjiang, China.

Miners Reduce BTC Holdings

By early March 2026, the network had stabilized near 1,020 EH/s, which indicates that strategic miners with access to low-cost energy, state-backed operations, or next-generation ASICs continue to operate profitably even as mid-generation fleets struggle. The report further detailed that publicly listed miners have reduced their BTC holdings in response to tight margins, while Core Scientific, Bitdeer, and Riot have all liquidated significant amounts from their treasuries.

Meanwhile, recovery in hash prices is closely tied to BTC price movements. At current levels of around $30/PH/day, only the most efficient miners remain cash-positive, while older and less efficient fleets face losses. A steady BTC price above $70,000 could alleviate pressure, whereas prolonged weakness would likely trigger additional miner capitulation.

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