This Week’s Recap

  • Senator Lummis proposes U.S. sell gold to buy 1 million Bitcoin over five years: Senator Cynthia Lummis has introduced the Bitcoin Act of 2025, advocating for the U.S. to sell portions of its gold reserves to purchase 1 million Bitcoin over five years, aiming to position the nation as a leader in cryptocurrency adoption.
  • U.S. lifts sanctions on Tornado Cash, but frontend remains compromised: The U.S. Treasury Department has removed sanctions against Tornado Cash, a cryptocurrency mixer previously accused of laundering illicit funds. Despite this, experts warn that the platform’s frontend remains compromised, posing risks to users.
  • Metaplanet appoints Eric Trump to drive Bitcoin adoption; stock surges: Tokyo-based investment firm Metaplanet has appointed Eric Trump, son of U.S. President Donald Trump, to its Strategic Board of Advisors to bolster Bitcoin adoption efforts. Following the announcement, Metaplanet’s stock experienced a significant surge.
  • Coinbase in advanced talks to acquire Deribit amid U.S. crypto derivatives expansion: Coinbase is reportedly in advanced discussions to acquire Deribit, a leading crypto derivatives exchange, in a deal valued between $4 billion and $5 billion, potentially enhancing Coinbase’s presence in the derivatives market.
  • SEC resets its approach to cryptocurrency regulation: Acting Chair Mark Uyeda is reshaping the SEC’s crypto approach by launching a dedicated Crypto Task Force, rescinding the controversial SAB 121 accounting rule, and pausing several enforcement actions, including the lawsuit against Coinbase. These moves aim to foster clearer regulation and rebuild trust with the crypto industry.
  • MicroStrategy surpasses 500,000 BTC holdings with recent purchase: MicroStrategy has acquired an additional 6,911 bitcoins for approximately $584.1 million, bringing its total holdings to over 500,000 BTC, valued at over $44 billion, reinforcing its position as the largest corporate holder of Bitcoin.
  • Ripple urges SEC to cease stifling crypto industry following XRP court victory: After the SEC dropped its lawsuit against Ripple, the company called on the regulator to “return to first principles” and provide clear, principle-based guidance rather than relying on enforcement actions that hinder innovation.
  • Circle’s USDC stablecoin approved for use in Japan through SBI partnership: Circle has partnered with SBI Holdings to launch its USDC stablecoin in Japan, receiving regulatory approval to list USDC on SBI VC Trade, marking the first time a global dollar stablecoin has been approved for use in the Japanese market.
  • Wyoming Governor pushes for state stablecoin by July: Despite the failure of a bill proposing Bitcoin reserves, Governor Mark Gordon remains committed to launching a state-issued stablecoin by July 2025. The initiative aims to position Wyoming as a crypto-forward state through a government-backed digital dollar alternative.
  • Fidelity to launch stablecoin and expand tokenized fund strategy: Fidelity Investments is in the advanced stages of developing its own stablecoin as part of its expansion into digital assets. This move aligns with its ongoing efforts to offer tokenized versions of traditional financial products, reinforcing its commitment to on-chain finance and next-generation investment products.
  • Trump-backed World Liberty Financial launches USD1 stablecoin on Ethereum and BNB Chain: World Liberty Financial, a cryptocurrency venture backed by President Donald Trump and his family, has introduced USD1, a stablecoin pegged to the U.S. dollar. USD1 is fully backed by short-term U.S. government securities, dollar deposits, and cash equivalents, with reserves custodied by BitGo. The token aims to provide a secure digital dollar for seamless cross-border transactions and is initially available on the Ethereum and BNB Chain blockchains.
  • BlackRock launches Bitcoin ETP in Europe with Coinbase as custodian: BlackRock has introduced the iShares Bitcoin ETP, its first Bitcoin exchange-traded product in Europe. Domiciled in Switzerland, the ETP is listed on exchanges in Paris, Amsterdam, and Frankfurt. Coinbase serves as the custodian for the underlying Bitcoin assets.
  • Ripple settles SEC case, pays reduced $50M fine, and withdraws cross-appeal: Ripple Labs has agreed to settle its lawsuit with the U.S. Securities and Exchange Commission (SEC) by paying a reduced fine of $50 million, down from the initially imposed $125 million. As part of the settlement, Ripple will withdraw its cross-appeal, and the SEC will request the court to lift the injunction on Ripple’s XRP sales. This agreement marks the conclusion of a significant legal battle in the cryptocurrency industry.
  • Tether seeks Big Four firm for full financial audit, CEO prioritizes transparency: Tether, the issuer of the USDT stablecoin, is engaging with a Big Four accounting firm to conduct its first comprehensive audit of reserves. CEO Paolo Ardoino emphasized that achieving complete transparency through a full audit has become the company’s “top priority.” This move aims to enhance transparency and address longstanding concerns about the backing of its tokens.
  • German regulator BaFin bans Ethena’s USDe stablecoin sales over serious deficiencies: Germany’s financial regulator, BaFin, has prohibited Ethena GmbH from selling its USDe stablecoin, citing significant compliance violations and potential breaches of securities laws. BaFin ordered the freezing of reserve assets backing the token, the shutdown of the company’s website, and the cessation of new customer acquisitions. Despite the ban on primary sales, secondary market trading of USDe remains unaffected.

Bitcoin Market Analysis

Over the past seven days, Bitcoin has posted a modest gain of approximately 2.1%, currently trading near $87,400. This movement follows a period of consolidation after the asset reached its all-time high of $109,492 in January 2025. Price action this week has remained within a tight range—between $85,800 and $88,400—as BTC hovers just below the key resistance level at $90,000. The post-election price gap from $74K to $90K, created in late 2024, has now been mostly filled, which is a structurally bullish signal. Market participants are closely watching for either a breakout above $90K or a retest of the $75K support area to establish new directional conviction.

Source: https://altfins.com/technical-analysis

From a technical standpoint, indicators present a cautiously bullish outlook. Momentum remains intact, with both MACD and the Ultimate Oscillator in bullish alignment. However, Stochastic RSI, CCI, and Williams %R are all in overbought territory, suggesting a possible short-term correction. RSI levels (9, 14, and 25) remain neutral, signaling no immediate overextension. Moving average trends are mixed—short-term and long-term SMAs (5, 10, 100, 200) and EMAs are trending upward, while medium-term averages (20–50) are still declining. Importantly, Bitcoin remains above the 200-day SMA, which reinforces the long-term uptrend and acts as a foundational layer of support beneath current price levels.

Source: CryptoQuant

On the fundamental side, Bitcoin’s network and market dynamics continue to support a constructive long-term outlook. Despite a notable rise in mining difficulty indicating increased competition among miners the hashprice has remained flat, meaning miner revenue per unit of computational power is holding steady. This suggests that recent price levels are sufficient to sustain miner profitability, even under greater network stress. More importantly, it implies that miners are not exiting the market or offloading inventory aggressively but rather maintaining or even expanding operations, behavior that often reflects confidence in future price appreciation. In effect, the stable hashprice amid rising difficulty may signal that miners are positioning for higher BTC valuations ahead, especially in the context of post-halving dynamics

Source: https://cointelegraph.com/news/ US-based spot Bitcoin ETF net flows –sosovalue.com

In parallel, Bitcoin ETFs are seeing consistent net inflows, signaling sustained institutional interest and reinforcing BTC’s role as the preferred crypto asset for professional exposure. Conversely, Ether ETFs have recorded outflows, reflecting more cautious sentiment toward alternative Layer 1s. Together, these data points support a constructive outlook for Bitcoin, albeit with a need for technical confirmation above the $90K resistance before the next leg higher can materialise.

Ethereum Market Analysis  

Ethereum, on the other hand, has faced modest volatility over the past seven days, currently trading around $2,027—marking a ~0.3% weekly decline. Price action has remained within a tight range, with a high of $2,075 and a low of $1,985, signaling short-term indecision. Despite the pullback, ETH continues to hold above key support at $1,880, suggesting that buyers are stepping in at lower levels. However, Ethereum still trades nearly 30% below its 200-day moving average and remains far from its 2024 highs, reflecting persistent macro uncertainty and the impact of shifting institutional flows that have favored Bitcoin in recent weeks.

Source: https://altfins.com/technical-analysis

From a technical standpoint, Ethereum presents mixed signals. The short-term trend remains relatively intact, supported by the 5-day SMA above current price levels, while both the 50-day and 200-day SMAs remain significantly higher—indicating medium- to long-term bearish pressure. The RSI sits in neutral territory (~47.6), offering little directional clarity, while the MACD shows a negative reading (-92.68), suggesting lingering bearish momentum. The Stochastic Oscillator, however, is flashing overbought conditions (~83%), raising the probability of a near-term pullback or sideways action. Resistance sits near $2,138, and unless ETH can reclaim this level convincingly, upside may be capped. Support at $1,880 remains structurally critical for bulls to maintain market control.

Fundamentally, Ethereum continues to attract institutional attention and advance its technological roadmap. Fidelity’s filing for the ‘OnChain’ Ethereum-based U.S. Treasury fund signals a major step in Ethereum’s adoption for real-world asset tokenization and institutional-grade DeFi infrastructure. Meanwhile, BlackRock’s ETH holdings have surpassed $1 billion, a strong vote of confidence in Ethereum’s long-term value proposition. Additionally, Ethereum’s final Pectra testnet deployment on the Hoodi Network marks a critical step forward in improving scalability and performance, signaling readiness for the next upgrade cycle. These developments reflect growing alignment between Ethereum’s institutional relevance and its technical evolution—both of which may underpin price resilience in the coming quarters, even amid short-term volatility.

Mark Your Calendars

Economic Data Releases:

  • March 28, 2025 (Friday):
    • PCE Index (Feb): Expected 0.3% (Previous 0.3%)
    • PCE Year-over-Year: Expected 2.5% (Previous 2.5%)
  • April 4, 2025 (Friday):
    • U.S. Unemployment Rate (March): Expected 4.1% (Previous 4.1%)

Token Unlock

  • March 31, 2025:
    • SUI: $172.04m worth of tokens unlocking (2.03% of circulating supply).
    • ZETA: $16.30m worth of tokens unlocking (6.05% of circulating supply).
  • April 1, 2025:
    • OP: $28.74m worth of tokens unlocking (1.93% of circulating supply).