Executive brief
The cryptocurrency market is navigating a complex intersection of geopolitical instability and significant regulatory milestones. Bitcoin has struggled to maintain the $70,000 level, slipping as rising energy prices and a hawkish Federal Reserve dampen hopes for near-term rate cuts. Despite this volatility, the sector received a major boost from the SEC approval of Nasdaq move to support tokenised securities trading, marking a structural shift toward the integration of blockchain with traditional equity markets. Concurrently, the SEC has introduced a new crypto taxonomy that reclassifies major assets like Solana and XRP as digital commodities, potentially easing KYC pressures on developers and builders of non-custodial tools.
Immediate market pressure remains evident through $219 million in combined outflows from Bitcoin and Ethereum ETFs. While Bitcoin OGs have reportedly dumped over $100 million in BTC, new native DeFi protocols are launching on the Bitcoin mainnet to challenge existing smart contract limitations. The primary driver of the current risk-off sentiment is the global energy crisis, with Brent crude surging to $119 and European natural gas spiking 30% following strikes on Qatar energy infrastructure. Investors should monitor the quarterly options expiry tomorrow, which could exacerbate price swings in a thinly accumulated zone.
Additionally, the FTX Recovery Trust plans to distribute $2.2 billion to creditors this month, which could introduce further sell pressure or recycled liquidity into a fragile spot-led market. While regulatory clarity provides a long-term opportunity for institutional adoption by established organisations, the risk of liquidations in Ethereum below $2,100 remains a significant short-term threat. As market makers like IMC Trading expand their crypto desks, the focus remains on whether liquidity can absorb impairment disclosures and ongoing macro shocks.
1) Top 20 news headlines
- SEC approves Nasdaq move to support tokenised securities trading; the regulator will allow Nasdaq to test blockchain versions of shares that trade and settle like traditional stocks.
- Bitcoin OG sells $72 million in BTC as whales flood exchange deposits; one whale who accumulated 5,000 BTC in 2013 sold $71.6m worth of Bitcoin on Wednesday.
- Bitcoin slips below $70,000 as oil surge, Fed pause weigh on risk assets; BTC dipped to $69,500 as energy prices spiked and the Federal Reserve held interest rates.
- Bitcoin DeFi drawback under attack as OpNet unlocks smart contracts on mainnet; new protocol brings native DeFi directly to the Bitcoin mainnet without using bridges or wrapped tokens.
- Major League Baseball signs prediction markets pacts with CFTC, Polymarket; the arrangement is the first of its kind in overseeing sports events contracts through a US derivatives regulator.
- Bitcoin sinks below $71,000 as 2026 Fed rate cut hopes fade further; Fed chair Jerome Powell noted rising energy prices are feeding into the inflation outlook.
- ETP firm opens 24/7 liquidity for tokenised stocks, gold and money market funds; Flow Traders has launched a 24/7 over-the-counter liquidity service for tokenised assets.
- Bitcoin unusually outperforms gold as hawkish Fed, oil price fuel risk-off sentiment; Bitcoin fell 2% while gold and silver saw sharper declines amid a global macro asset sell-off.
- Capital is shifting into digital dollars as Bitcoin wilts; Bitcoin price discovery is increasingly driven by derivatives positioning and institutional synthetics.
- Crypto.com cuts 12% of staff as it integrates AI for efficiency; the exchange laid off about 180 employees as part of an enterprise-wide AI restructuring.
- XRP treasury firm Evernorth discloses $233.7 million impairment; the firm reported the digital asset impairment for 2025 in a recent SPAC filing.
- Browser maker Opera seeks 160 million CELO stake; the proposed allocation represents 16% of the maximum supply of the Celo network.
- Coinbase rewards loophole could protect stablecoin revenue; proposed D.C. rules could ban yield on stablecoins like USDC, though the exchange may adapt.
- Bitcoin $20,000 put option popular ahead of quarterly expiry; nearly $600m in deep out-of-the-money puts highlights tail-risk positioning.
- ECB seeks experts to help integrate digital euro into ATMs; the European Central Bank is preparing to integrate digital currency into card payment terminals.
- Bitcoin holds $69,000 as gold tumbles and oil spikes; analysts suggest staying on the sidelines with dry powder as prices swing on headlines.
- Amundi debuts $100 million tokenised fund on Ethereum and Stellar; the fund was launched with Chainlink support for overnight swap transactions.
- FTX Recovery Trust to distribute $2.2 billion to creditors in March; the fourth round of reimbursements brings total payments to approximately $10b.
- Visa and Stripe-backed Tempo launch AI agent payment tools; new tools provide a way for AI agents to conduct online payments using crypto rails.
- IMC Trading hires Alex Casimo as chief commercial officer; the hire is intended to grow the Dutch market maker’s institutional crypto offering.
2) BTC and ETH ETF flows
| Metric | BTC | ETH |
|---|---|---|
| Net inflow | -$163,521,701.93 | -$55,702,389.46 |
| Value traded | $3,461,411,066.63 | $1,176,154,753.00 |
| Net assets | $92,067,415,408.58 | $12,865,465,399.21 |
| Cumulative net inflow | $56,373,444,929.74 | $11,907,781,706.26 |
3) X trending news
- Nasdaq tokenised stocks approved; the SEC has greenlit a new rule allowing for tokenised stocks and securities trading.
- Market capitalisation wiped; roughly $120 billion was removed from the total crypto market cap in a single day of trading.
- Global energy crisis accelerating; European natural gas prices surged 30% today as global markets face historic energy shocks.
- Gold selloff extends; spot gold fell -$400 on the day to trade at $4,500/oz for the first time since February.
- Brent crude surges; oil prices reached $119 per barrel following retaliatory strikes on Middle East energy infrastructure.
- Federal Reserve holds rates; interest rates remain unchanged between 3.50% and 3.75% as the Fed monitors inflation data.
- Bitcoin crashes under $69,000; the asset fell below a key support level as a broader selloff in risk assets accelerated.
- Kharg Island export dominance; Treasury officials noted the island handles 90% of Iranian oil exports as conflict tensions rise.
- Inflation warning from Fed; Jerome Powell warned that rising energy prices from the US-Israeli war will drive inflation higher.
- OpenAI revenue forecast; revised outlook suggests $283 billion in revenue and $665 billion in compute spend by 2030.