March was a high-action month for Bitcoin (BTC/USD) and its related <a href="https://www.benzinga.com/etfs">spot ETFs</a>, with the cryptocurrency facing major setbacks.



The price of Bitcoin started going south right after touching a record price of $109,114 on Jan. 20. By the end of March, the price had dropped by 23% from its peak. More specifically, the price of Bitcoin dropped by 2.3% in March.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44581901/bitcoin-is-in-a-mini-bear-market-says-10x-research">Bitcoin Is In A Mini Bear Market, Says 10x Research</a>



This bearish sentiment was reflected in the ETF market. U.S. spot Bitcoin ETFs saw investors withdrawing $767.9 million in March, the second-largest amount on record. Still, if it&#8217;s any consolation, the March outflow number was better than February&#8217;s staggering $3.56 billion outage, which left the crypto world reeling.



Investor sentiment has been quite responsive to the market mood. Statistics from Santiment reveal that Bitcoin&#8217;s price action has tended to be the opposite of the prevailing crowd sentiments. A case in point is that bullish sentiments on March 23 and March 25 resulted in price corrections, while on March 29, bearishness saw short-lived gains. Santiment thinks that the price of Bitcoin still has room for one more correction before trying to break through the $100,000 mark.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f972; Bitcoin prices looked encouraging for retail traders on Monday before they got a bit overly excited and began FOMO&#39;ing in &amp; calling for $100K+ <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> price levels once again. As has been the norm throughout 2025, when the crowd begins leaning too far in one direction, prices… <a href="https://t.co/pNO6ovgWYs">pic.twitter.com/pNO6ovgWYs</a>&mdash; Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1906883246711013820?ref_src=twsrc%5Etfw">April 1, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Technical indicators also suggest some more trouble on the cards. Bitcoin is poised to signal the dreaded &#8216;death cross&#8217; sell signal, when the 50-day moving average drops below the 200-day moving average, typically signaling future potential losses., <a href="https://www.businessinsider.com/bitcoin-price-outlook-sell-death-cross-btc-crypto-technical-analysis-2025-4?utm">according </a>to Business Insider.



Comparative Asset Performance



While Bitcoin and its ETFs have experienced setbacks, other assets have remained strong. Gold, for example, <a href="https://www.benzinga.com/personal-finance/financial-advisors/25/03/44552405/whats-actually-driving-the-latest-gold-surge-several-factors-are-at-play">surged past $3,000 per ounce</a> in mid-March and climbed around 38% in the last year, as of March 30.



Wider economic conditions have also contributed to influencing market dynamics. The expectation of President Donald Trump&#8216;s &#8220;Liberation Day&#8221; announcement on April 2, in which new reciprocal tariffs are likely to be announced, has contributed to market uncertainty. Such trade policies would exacerbate recession fears and put further pressure on risk assets, including Bitcoin.



ETF Inflows Amidst Outflows



Amid the broad trend of outflows, there were pockets of positive movement within the crypto ETF world. On March 27, U.S. spot Bitcoin ETFs had a combined daily net inflow of $89 million, per SoSoValue <a href="https://sosovalue.com/assets/etf/us-btc-spot">data</a>. Fidelity Wise Origin Bitcoin Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/FBTC#BATS">FBTC</a>) topped with $97.14 million in inflows, and BlackRock&#8217;s iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) witnessed nearly $4 million.



On the other hand, the Invesco Galaxy Bitcoin ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BTCO#BATS">BTCO</a>) and WisdomTree Bitcoin Fund (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BTCW#BATS">BTCW</a>) witnessed outflows of nearly $7 million and $5 million, respectively. These hybrid movements highlight the subtle and changing investor sentiment in the crypto market.​



March underscored the unpredictability and intricacy of the <a href="https://www.benzinga.com/crypto">crypto market</a>. Although massive Bitcoin ETF outflows and price drops speak of dominant bearish moods, isolated cases of inflows and the behavior of other assets such as gold reveal a varied and prudent investment environment. 



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/etfs/specialty-etfs/25/04/44593556/grayscale-moves-to-mainstream-crypto-with-etf-filings-for-avalanche-top-tokens">Grayscale Moves To Mainstream Crypto With ETF Filings For Avalanche, Top Tokens</a></li>
</ul>



Photo: Shutterstock

Bitcoin ETFs See $768 Million Outflow In March As Price Slips, Crowd Sentiment Turns Cautious

Grayscale&#8217;s mission to bring cryptocurrencies in the mainstream financial universe<a href="https://www.benzinga.com/etfs"> through ETFs</a> has picked up pace. Nasdaq filed a request on March 28, through a 19b-4 filing, to transform Grayscale&#8217;s Avalanche Trust into a Grayscale&#8217;s spot Avalanche ETF. On Tuesday, Grayscale made further progress in that direction by filing an S-3 form with the SEC to transform its Digital Large Cap Fund into an ETF.



Also Read: <a href="https://www.benzinga.com/news/large-cap/25/04/44590886/bny-mellons-bkcg-etf-debuts-with-a-strategy-of-long-term-growth-potential">BNY Mellon&#8217;s BKCG ETF Debuts With A Strategy Of Long-Term Growth Potential</a>



The almost 2-year-old Avalanche Trust was initially intended to offer institutional investors a way to invest in AVAX, the native token of the Avalanche blockchain. By transforming it into an ETF, Grayscale aims to make investments in AVAX more accessible to retail investors while bringing more stringent regulatory protection into mainstream financial markets. If the ETF is <a href="https://listingcenter.nasdaq.com/assets/rulebook/nasdaq/filings/SR-NASDAQ-2025-030.pdf">approved</a>, this would be yet another step in mainstreaming blockchain-based assets.



Now, with the <a href="https://www.sec.gov/Archives/edgar/data/1729997/000095017025047994/gdlc_s-3_032525.htm">request </a>to restructure its Digital Large Cap Fund as an ETF, Grayscale has taken yet another significant step toward its goal. The fund offers diversified exposure to several cryptocurrencies, such as Bitcoin, Ethereum, and other leading digital assets. The move is part of Grayscale&#8217;s overall strategy of bringing digital asset investing into the traditional markets, enabling both institutional and retail investors to have exposure to cryptocurrencies without actually owning the underlying assets.



With these latest moves, Grayscale is upping the ante in the push for cryptocurrency adoption. By making digital assets more accessible and regulated, the company is carving a path for broader acceptance of cryptocurrency-based investment products.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/etfs/new-etfs/25/03/44569468/growth-or-value-allsprings-new-etfs-offer-both">Growth Or Value? Allspring&#8217;s New ETFs Offer Both</a></li>
</ul>



Photo: Shutterstock

Grayscale Moves To Mainstream Crypto With ETF Filings For Avalanche, Top Tokens

Cryptocurrency markets are trading higher on Tuesday as attention turns to President Trump&#8217;s tariff announcements on Wednesday.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$85,082.96</td><td>+2%</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$1,905.15</td><td>+3.3%</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$126.83</td><td>+0.6%</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$2.13</td><td>+0.6%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.1720</td><td>+2.6%</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00001274</td><td>+1.9%</td></tr></tbody></table></figure>



Notable Statistics:



<ul>
<li>IntoTheBlock data shows large transaction volume increasing by 79.5% and daily active addresses up by 29.5%. Transactions greater than $100,000 are up from 6,309 to 10,147 in a single day. Exchanges netflows are down by 388.9%.</li>



<li>Coinglass data reports 86,684 traders were liquidated in the past 24 hours for $240.13 million.</li>



<li>Crypto chart analyst Ali Martinez <a href="https://x.com/ali_charts/status/1907129332780413335">noted</a> that more than 21,000 Bitcoin have been moved to exchanges in the past 96 hours.</li>
</ul>



Notable Developments:



<ul>
<li><a href="https://in.benzinga.com/markets/cryptocurrency/25/04/44581901/bitcoin-is-in-a-mini-bear-market-says-10x-research">Bitcoin Is In A Mini Bear Market, Says 10x Research</a></li>



<li><a href="https://www.benzinga.com/25/04/44587813/titandex-ceo-chris-chung-advocates-social-consensus-for-crypto-ethics-sees-bright-future-for-defi">Crypto Industry Needs To Enforce Ethical Norms, TitanDex CEO Chris Chung Says</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44582342/circle-eyes-5-billion-valuation-for-upcoming-initial-public-offering">Circle Eyes $5 Billion Valuation For Upcoming Initial Public Offering</a></li>



<li><a href="https://in.benzinga.com/25/03/44569292/congressman-buys-up-to-600k-in-bitcoin-etf-after-selling-1-million-in-goldman-sachs-stock-committee-assignment-could-be-red-flag">Congressman Buys Up To $600K In Bitcoin ETF After Selling $1 Million In Goldman Sachs Stock: Committee Assignment Could Be Red Flag</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44591699/eric-trump-hails-bitcoin-as-one-of-the-greatest-stores-of-value">Eric Trump Hails Bitcoin As &#8216;One Of The Greatest Stores Of Value&#8217;</a></li>



<li><a href="https://www.benzinga.com/25/04/44580634/bitcoin-is-digital-risk-not-digital-gold-asserts-peter-schiff">Bitcoin Is &#8216;Digital Risk,&#8217; Not &#8216;Digital Gold,&#8217; Asserts Peter Schiff As Apex Crypto Gets Negatively Correlated With The Yellow Metal</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44573921/irans-revolutionary-guard-officers-accused-of-stealing-21-million-in-crypto-while-investig">Iran&#8217;s Revolutionary Guard Officers Accused Of Stealing $21 Million In Crypto While Investigating A Corruption Case</a></li>
</ul>



Top Losers:



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>DeXe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">DEXE</a>)</td><td>$13.62</td><td>-24.6%</td></tr><tr><td>Story (CRYPTO: IP)</td><td>$4.71</td><td>-6.5%</td></tr><tr><td>Four (CRYPTO: FORM)</td><td>$2.26</td><td>-5.2%</td></tr></tbody></table></figure>



Trader Notes: Crypto trader Jelle <a href="https://x.com/CryptoJelleNL/status/1906962639730671954">notes</a> that Bitcoin is forming its first higher low in over two months. 



A breakout above $88,000 would confirm a higher high, shifting the market structure bullish. 



The key target is reclaiming the low $90,000s, where momentum could accelerate significantly.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is forming its first higher low in over 2 months. Clear $88,000 for a new higher high &#8211; and market structure flips back to bullish. Key objective remains reclaiming the low 90k region. Above there; all bets are off. <a href="https://t.co/ADYDVEVh8O">pic.twitter.com/ADYDVEVh8O</a>&mdash; Jelle (@CryptoJelleNL) <a href="https://twitter.com/CryptoJelleNL/status/1906962639730671954?ref_src=twsrc%5Etfw">April 1, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Andrew Crypto <a href="https://x.com/AndrewCryptoHQ/status/1907130003826860277">highlights</a> a critical diagonal resistance for both Bitcoin and Ethereum, suggesting that a clean break could lead to further upside relief.



Crypto trader Ansem <a href="https://x.com/blknoiz06/status/1907143851120165196">expects</a> Bitcoin to bottom in Q2, followed by a sideways range until year-end. 



His long-term target stands at $250,000 by 2028. 



In the short term, he is cautious, watching key support and resistance between $66,000 and $72,000.



In case a recission hits, the worst-case scenario is $50,000. However, the bearish view gets invalidated if BTC shows high time frame strength above $95,000.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44583918/bitcoin-reclaims-84000-is-the-correction-nearing-its-end">Bitcoin Reclaims $84,000: Is The Correction Nearing Its End?</a></li>
</ul>



Image: Shutterstock

Bitcoin, Ethereum, XRP, Dogecoin Surge As Trader Eyes $88,000 For BTC To Touch 'New Higher High'

As MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) increases its Bitcoin purchases, investors now have a new vehicle to hedge against future declines. YieldMax has introduced the YieldMax MSTR Short Option Income Strategy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WNTR#NYSE">WNTR</a>), an <a href="https://www.benzinga.com/etfs">actively managed ETF</a> that seeks to benefit from MSTR stock price decreases while providing monthly income.



This is YieldMax&#8217;s 46th options strategy ETF and the fifth in the company&#8217;s expanding roster. The timing is interesting, as MSTR has just increased its Bitcoin holding, adding even more to its exposure to the cryptocurrency&#8217;s volatility. For those worried about contemplated price corrections, WNTR is a structured means to avoid downside risk.



Also Read: <a href="https://www.benzinga.com/etfs/specialty-etfs/25/03/44572706/value-stocks-gain-ground-as-inflation-recession-fears-grow-4-etfs-to-capitalize-on-the-trend">Value Stocks Gain Ground As Inflation, Recession Fears Grow: 4 ETFs To Capitalize On The Trend</a>



WNTR uses a synthetic-covered put strategy to offer inverse exposure to MSTR, i.e., it profits when the stock price goes down—but only to some extent. However, the potential upside from MSTR&#8217;s dips are capped when the stock declines considerably, as per the prospectus of the fund.



Where WNTR&#8217;s managers expect a sharp decline, the fund can pursue an alternative strategy through selling credit put spreads. This <a href="https://cbs4indy.com/business/press-releases/globenewswire/9411979/yieldmax-introduces-short-option-income-strategy-etf-on-microstrategy-inc-mstr/">strategy </a>maximizes potential returns while preserving inverse downside capture. The fund can also buy out-of-the-money calls as a hedge against surprise price rebounds.



The ETF has an expense ratio of 1.01% and collateralizes its covered put positions in U.S. Treasuries. In addition to supporting the strategy of the fund, these holdings also make their way into the fund&#8217;s monthly income distributions—a big draw for investors looking for consistent returns.



YieldMax has been adding to its lineup of options-based exchange-traded funds (ETFs), with WNTR being added to other strategies with Tesla, Coinbase, NVIDIA and the Nasdaq-100 Index. The $2.5 billion YieldMax MSTR Option Income Strategy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSTY#NYSE">MSTY</a>) is its largest ETF yet, and it employs a covered call approach to MSTR.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/25/03/44576678/cathie-wood-defies-coreweave-ipo-slump-ark-snaps-up-3-6-million-worth-of-stock-in-nvidia-backed-company">Cathie Wood Defies CoreWeave IPO Slump, Ark Snaps Up $3.6 Million Worth Of Stock In Nvidia-Backed Company</a></li>
</ul>



Photo: Shutterstock

YieldMax Unveils WNTR ETF Amid MicroStrategy's Expanding Bitcoin Bet

Riot Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) just flashed a major warning signal, officially forming <a href="https://www.benzinga.com/topic/death-cross">a Death Cross</a> as its 50-day simple moving average sank below the 200-day moving average.



While shares jumped 3.93% by early afternoon on Monday, the broader trend remains bearish &#8211; down 29.3% year to date and a 35.5% in the past year.



<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0401"><img loading="lazy" decoding="async" width="631" height="489" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/01134816/Screenshot-2025-04-01-at-7.06.45-PM.png" alt="" class="wp-image-851777" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/01134816/Screenshot-2025-04-01-at-7.06.45-PM.png 631w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/01134816/Screenshot-2025-04-01-at-7.06.45-PM-300x232.png 300w" sizes="(max-width: 631px) 100vw, 631px" /></a></figure>



<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0401" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>



Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44421719/bitcoin-miners-core-scientific-riot-platforms-cleanspark-iris-energy-see-price-targets-slashed-bernstein">Bitcoin Miners Core Scientific, Riot Platforms, CleanSpark, Iris Energy See Price Targets Slashed: Bernstein</a>



<h2 class="wp-block-heading">A Bearish Storm Brewing</h2>



Technicals paint a challenging picture for RIOT stock. RIOT stock sits below its five-day, 20-day and 50-day exponential moving averages, reinforcing a strongly bearish trend despite some slight buying pressure.



The eight-day simple moving average at $7.80 and 20-day SMA at $7.84 both signal further weakness, while the 50-day SMA at $9.86 underscores the stock's steep decline. Even the 200-day SMA at $9.94 remains well above RIOT stock&#8217;s current price of $7.04, leaving little room for optimism in the near term.



The Moving Average Convergence Divergence (MACD) indicator at a negative 0.64 also suggests bearish momentum, and with a Relative Strength Index (RSI) of 35.04, RIOT stock is creeping toward oversold territory but isn't quite there yet.



<h2 class="wp-block-heading">Can RIOT Stock Reverse Course?</h2>



While Tuesday's bounce may have offered some relief for bulls, the broader trend remains bearish unless Riot stock can decisively break its downward trajectory. The death cross is a widely followed technical indicator that often signals prolonged weakness, and with Bitcoin's volatility adding another layer of uncertainty, RIOT stock investors may be in for a rough ride.



For now, the trend is not Riot's friend. The question is whether this bounce is the start of a reversal &#8211; or just a brief respite before more pain ahead.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/news/mid-cap/25/03/44454043/riot-platforms-powers-up-eyes-185-million-acquisition-deal-to-boost-mining-capacity">Riot Platforms Powers Up: Eyes $185 Million Acquisition Deal To Boost Mining Capacity</a></li>
</ul>



Photo: Shutterstock

Riot Platforms Forms Death Cross As Bitcoin Volatility Adds Pressure

Dogecoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) recent downturn appears to have attracted big buyers, as whale accumulation surged and traders predict <a href="https://www.benzinga.com/money/dogecoin-doge-price-prediction">a bullish breakout</a>.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Market Cap</td><td>24-Hour Trend</td><td>7-Day Trend</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>&nbsp;$0.1729</td><td>$25.7 billion</td><td>+3.7%&nbsp;</td><td>-10.1%&nbsp;</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>&nbsp;$0.00001285&nbsp;&nbsp;</td><td>$7.6 billion</td><td>+3.3%&nbsp;</td><td>-6.4%</td></tr><tr><td>Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>)</td><td>&nbsp;$0.057741</td><td>$3.3 billion</td><td>+8.6%&nbsp;</td><td>-4.2%&nbsp;</td></tr></tbody></table></figure>



Trader Notes: Crypto chart analyst Ali Martinez identified two key resistance levels at $0.18 and $0.21—if broken, they could ignite the next major rally.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> is facing two key resistance walls at $0.18 and $0.21. Breaking through both could be the catalyst for the next major bull rally. <a href="https://t.co/NIln4NilM6">pic.twitter.com/NIln4NilM6</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1907016086647603234?ref_src=twsrc%5Etfw">April 1, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Javon Marks <a href="https://x.com/JavonTM1/status/1907074710245961890">pointed</a> out that Dogecoin is forming higher lows, historically a precursor to price spikes. He maintains a bullish target of $0.6533, implying a 270% upside.



Trader Tardigrade <a href="https://x.com/TATrader_Alan/status/1907032206410993715">predicts</a> a J-shaped rebound, noting that Dogecoin has a history of rallying after accumulation phases before retracing.



Statistics: Martinez <a href="https://x.com/ali_charts/status/1907085292781355083">noted</a> Dogecoin whales having purchased more than 220 million DOGE in the month of March.



Coinglass data shows Dogecoin's long liquidations touched $1.26 million, the lowest level since March 23. Open interest increased 1.7% to $1.6 billion in a single day, signaling growing trader interest.



Community News: At a recent Town Hall in Wisconsin, <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44554819/elon-musk-dismisses-dogecoin-use-by-government-clears-the-air-on-doge-department-two-very-different-things">Elon Musk dismissed rumors</a> that the government is considering Dogecoin as a crypto payment option. He also clarified that the Department of Government Efficiency has no ties to DOGE.



Read Next:&nbsp;



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44535159/dogecoin-down-6-but-traders-go-long-what-is-going-on">Dogecoin Down 6%, But Traders Go Long: What Is Going On?</a></li>
</ul>



Image: Shutterstock

Dogecoin Whales Scoop 220 Million DOGE In March Despite 25% Drop: What Do They Know?

Eric Trump, Executive Vice President of <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44560290/trump-family-to-dive-into-bitcoin-mining-after-defi-meme-coin-projects#:~:text=Eric%20Trump%20and%20Donald%20Jr,Trump%20Organization's%20real%20estate%20arm.">the Trump Organization</a>, has praised Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) as one of the greatest stores of value, emphasizing its immediate liquidity and effectiveness as a hedge against real estate investments.



What Happened: In an <a href="https://x.com/BTC_Archive/status/1907102787789271408">interview</a> with Fox Business on Tuesday, Trump highlighted Bitcoin's unique advantages over traditional assets, pointing to its role in the Trump family's growing involvement in the cryptocurrency sector amid their broader push into digital assets.



Trump, whose family recently invested in a Bitcoin mining venture called American Bitcoin through a merger with American Data Centers, explained how his perspective on crypto evolved after experiencing what he described as <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44560290/trump-family-to-dive-into-bitcoin-mining-after-defi-meme-coin-projects">unfair treatment by major banks</a>.



"I truly believe that Bitcoin is one of the greatest stores of value, immediately liquid, an unbelievable hedge against real estate, and something we're really excited about," Trump stated, contrasting Bitcoin's portability and efficiency with the illiquidity of physical assets like real estate. 



He further elaborated on Bitcoin's appeal, noting, "There's not a single thing that those banks do that can't be done better, cheaper, more efficiently, faster on blockchain."



Also Read: <a href="https://www.benzinga.com/25/04/44587813/titandex-ceo-chris-chung-advocates-social-consensus-for-crypto-ethics-sees-bright-future-for-defi">Crypto Industry Needs To Enforce Ethical Norms, TitanDex CEO Chris Chung Says</a>



The real estate executive, who has spent his career building hotels, golf courses and commercial buildings, said he never expected to become a crypto advocate. But a wave of what he described as politically motivated account closures by major banks—including Capital One, Chase and Bank of America—pushed him toward decentralized finance and digital assets.



"I never thought I'd fall into the world of crypto until every bank started canceling us for absolutely no reason other than the fact that my father was in politics," he said, adding that "there's not a single thing that those banks do that can't be done better, cheaper, and faster on blockchain."



Trump framed his support for Bitcoin as both a practical business decision and a personal awakening, driven by concerns over censorship in traditional financial systems. 



"You can&#8217;t be canceled with Bitcoin. It's global, transparent, and empowers people in a way traditional banks do not," he emphasized.



Why It Matters: Beyond Bitcoin, Trump also expressed optimism about the broader crypto landscape, including stablecoins and decentralized finance.



He suggested that regulated stablecoins could bolster U.S. dollar dominance globally and called for clear regulatory frameworks that allow innovation to thrive.



"Crypto is here to stay," Trump stated. "It's solving so many financial problems. When we look out 10 years, banking in this country will finally get into the modern age."



Additionally, Trump criticized the weaponization of financial institutions against businesses and highlighted systemic fraud, such as non-citizens receiving Social Security numbers, which he believes undermines the American system.



Read Next: 



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</ul>



Image: Shutterstock

Eric Trump Hails Bitcoin As 'One Of The Greatest Stores Of Value'

Fartcoin (CRYPTO: FARTCOIN) is up 19% on the day, with traders pointing out that the popular meme coin is acting as a <a href="https://www.benzinga.com/money/bitcoin-price-prediction">high-beta play on Bitcoin</a>. 



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>24-Hour Trend</td></tr><tr><td>Fartcoin (CRYPTO: FARTCOIN)</td><td> $0.52</td><td> +19%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td> $0.1736</td><td> +3.8%</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td> $0.00001293</td><td> +3.2%</td></tr></tbody></table></figure>



Trader Notes: Crypto trader CRG noted that Fartcoin's chart is showing strength.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Fartcoin looking good here <a href="https://t.co/1L19VoOmbZ">https://t.co/1L19VoOmbZ</a> <a href="https://t.co/XUBj4QjH75">pic.twitter.com/XUBj4QjH75</a>&mdash; CRG (@MacroCRG) <a href="https://twitter.com/MacroCRG/status/1907003805033501061?ref_src=twsrc%5Etfw">April 1, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Crypto trader Altcoin Sherpa <a href="https://x.com/AltcoinSherpa/status/1907018789033550216">pointed </a>out a higher-low formation on the 4-hour chart, although the daily chart still "looks pretty ugly." 



He also <a href="https://x.com/AltcoinSherpa/status/1907021694348517715">believes</a> that if the market turns bullish, Fartcoin will remain the &#8220;strongest beta&#8221; relative to Bitcoin. 



If BTC moves 2% higher, Fartcoin will rally 5%-20%, the trader predicts.



Another trader <a href="https://x.com/astekz/status/1907014161655120177">sees</a> the $0.55-$0.58 range as the breakout level—if Fartcoin clears it, "the real fun begins."



One pseudonymous trader <a href="https://x.com/Xeer/status/1906991937976218025">shared</a> a cautionary tale, revealing losses exceeding $3 million from attempting to buy dips in Fartcoin and other meme coins. 



He admitted that despite leveraging $35,000 to recover, the market's manipulative nature led to further losses, ultimately wiping out everything he had built over 1.5 years in just three months. 



He emphasized that success in crypto isn't just about skill—it requires size, insider knowledge and patience.



Statistics: Stalkchain <a href="https://x.com/StalkHQ/status/1906843961387516239">data</a> shows Fartcoin as the most purchased token by smart money in the last 24 hours. Fartcoin ranked 5th in meme coin trading volume with $184.6 million, signaling strong trader interest.



Read Next:&nbsp;



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<li><a href="https://in.benzinga.com/markets/cryptocurrency/25/03/44516481/can-fartcoin-beat-dogecoin-shiba-inu-to-become-the-biggest-winner-this-year">Can Fartcoin Beat Dogecoin, Shiba Inu To Become The &#8216;Biggest Winner This Year&#8217;?</a></li>
</ul>



Image: Shutterstock

Fartcoin Leaves Dogecoin, Shiba Inu In The Dust With 19% Rally: 'The Strongest Beta To Bitcoin,' Trader Says

Cardano's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>) price has increased 4.25% over the past 24 hours to $0.69, which is in the opposite direction of its trend over the past week, where it has experienced a 11.0% loss, moving from $0.76 to its current price. As it stands right now, the coin's all-time high is $3.09. 
The chart below compares the price movement and volatility for Cardano over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.
<img src="https://www.benzinga.com/files/images/story/2025/1743519607_0.png" alt="price_chart" />

The trading volume for the coin has decreased 33.0% over the past week, while the overall circulating supply of the coin has increased 0.05% to over 35.99 billion. This puts its current circulating supply at an estimated 79.97% of its max supply, which is 45.00 billion. The current market cap ranking for ADA is #9 at $24.64 billion.
<img src="https://www.benzinga.com/files/images/story/2025/1743519607_1.png" alt="supply_and_vol" />

<a href="https://www.coingecko.com/en/api">Powered by CoinGecko API</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Cardano's Price Increased More Than 4% Within 24 hours

Chris Chung, CEO and co-founder of DEX aggregator Titan, has called for the crypto industry to establish ethical norms through social consensus, particularly in response to controversies involving political fundraising <a href="https://www.benzinga.com/money/best-crypto-meme-coins">via meme coins</a> and token launches.



What Happened: In an interview with Benzinga, Chung emphasized the importance of community-driven standards to maintain integrity in the rapidly evolving sector, while also sharing insights on the future of decentralized exchanges, stablecoin legislation and the role of blockchain in financial markets.



Addressing the ethical challenges facing the industry, Chung pointed to the backlash following the Libra fiasco as evidence of the crypto community's <a href="https://www.benzinga.com/25/02/43786713/solana-meme-coin-ecosystem-under-fire-galaxy-research-cites-libra-rug-pull-as-major-blow">ability to self-regulate</a>.



"I think ethical considerations are social ones—if people react strongly against a certain thing, everybody really understands what the line is," he said, highlighting the need for a collective understanding of acceptable practices in token launches and marketing. 



He cautioned against relying solely on formal laws, noting, "Crypto enforcement is basically social enforcement—you actually need a government for physical enforcement of laws if you want to codify something more."



Chung's comments come amid a decline in retail investor confidence, driven by significant losses in meme coins like Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) and Melania (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">MELANIA</a>), which have contributed to a broader drop in trading volumes, as noted by <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43735243/bad-trump-to-good-trump-means-bitcoin-could-go-to-102500-standard-chartered-says">research firms like Standard Chartered</a>.



However, he sees a silver lining in the meme coin frenzy, particularly for Solana-based platforms like Titan. 



"Although meme coin volume has dropped, it made the blockchain itself develop the infrastructure to handle that much volume," Chung explained, adding that Solana's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) trading volumes have increased fivefold compared to last year, reaching $40 to $50 billion last month despite a mini bear market.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44582786/asias-microstrategy-metaplanet-and-tether-announce-major-bitcoin-purchases">&#8216;Asia&#8217;s MicroStrategy&#8217; Metaplanet And Tether Announce Major Bitcoin Purchases</a>



Why It Matters: Titan, a Solana meta-DEX aggregator, has already launched on mainnet and is currently in private beta, with a couple hundred users providing feedback on live trades.



Chung shared plans to make the platform fully public in the coming months, focusing on infrastructure upgrades to handle growing demand. 



He highlighted Titan's unique position in the market, noting that it aggregates quotes from other Solana DEX aggregators like Jupiter (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">JUP</a>) and Deepflow, while also using its proprietary algorithm, Talos, which boasts an 80% win rate against competitors. 



"The combination of having our own algorithm plus aggregating others is really what makes Titan unique," he said.



Looking at the broader DeFi landscape, Chung expressed optimism about the potential impact of stablecoin legislation, particularly with the U.S. Senate advancing a bill in March 2025 and President Trump pushing a pro-crypto agenda. 



He believes clearer regulations could bring more institutional capital into DeFi markets. 



"If more of these institutions come on the chain, that means a lot more dollars, a lot more stablecoins have been minted," Chung noted, though he cautioned that DEXs must address liquidity fragmentation among stablecoins to maintain market efficiency.



What&#8217;s Next: Chung also sees blockchain technology as a game-changer for traditional finance (TradFi), particularly in the realm of real-world asset (RWA) tokenization.



He argued that DeFi could both compete with and serve TradFi by streamlining back-office processes and enabling faster asset settlement. 



"Nobody really wants to wait for SWIFT for two days or even T+1 to settle their assets," he said, emphasizing the global demand for accessible assets that blockchain can fulfill.



On the technical side, Chung discussed the role of zero-knowledge (ZK) technology and :Layer-2 (L2) solutions in driving DeFi growth.



While he believes ZK tech needs to mature before it can be widely implemented, he finds its potential applications—like on-chain dark pools and independently verifiable data—fascinating. 



Regarding L2s, he noted the ongoing debate between monolithic L1 chains like Solana and Ethereum's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) L2 roadmap, pointing out that Solana's concentrated volume suggests user preference for a single-chain ecosystem.



Despite the current market challenges, including a mini bear market for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and major altcoins like Solana and BNB (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>), Chung remains confident in DeFi's long-term potential.



He believes innovations in on-chain derivatives, such as options and perpetual futures, could mark a maturity moment for the sector, though he cautioned that the crowded perp DEX space may struggle to sustain new entrants without significant differentiation.



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Image: Shutterstock

Crypto Industry Needs To Enforce Ethical Norms, TitanDex CEO Chris Chung Says

Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) is up 5% on Tuesday, with on-chain activity surging and large <a href="https://www.benzinga.com/money/shiba-inu-price-prediction">transactions hitting new peaks</a>.



<figure class="wp-block-table"><table style="overflow:auto; height: 90px; display: block;"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Market Cap</td><td>24-Hour Trend</td><td>7-Day Trend</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00001283</td><td>$7.6 billion</td><td>+5.5%</td><td>-4.7%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.1711&nbsp;</td><td>$25.4 billion</td><td>+5.1%</td><td>-8.6%</td></tr><tr><td>Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>)</td><td>$0.057622</td><td>$3.2 billion</td><td>+8.7%</td><td>-3.9%</td></tr></tbody></table></figure>



Trader Notes: Crypto trader CW highlighted that SHIB is rebounding from a buy wall zone, forming additional sell walls along the way. 



The trader suggests that if these sell walls break, SHIB could enter a true bull market.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> is bouncing back from the buy wall zone. Also, this decline has created additional sell walls. If these three sell walls are broken, the real bull market will begin. <a href="https://t.co/G4VrpA3N0F">pic.twitter.com/G4VrpA3N0F</a>&mdash; CW (@CW8900) <a href="https://twitter.com/CW8900/status/1906986256220782737?ref_src=twsrc%5Etfw">April 1, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Statistics: Shibarium data shows a significant increase in daily transactions, jumping from 3.2 million to 4 million in a single day. 



The 1 billion transaction milestone was achieved in just two years—a remarkable feat compared to Bitcoin's 15-year journey.



Shibarium's official X account emphasized that this milestone was driven by organic community support, not artificial traffic or paid campaigns.



IntoTheBlock data shows SHIB large transaction volume soaring 465.2% in a single day, while daily transactions rose by 69.6%. Transactions greater than $100,000 moved up from 23 to 74.  



Community News: Shiba Inu's lead developer, known as Shytoshi Kusama, recently <a href="https://x.com/ShytoshiKusama">updated</a> his location on X to &#8220;Cracking The Chrysalis&#8221;, sparking speculation within the SHIB community. 



The term "chrysalis" symbolizes transformation of a cocoon stage before a butterfly emerges—hinting at a major upcoming development.



Crypto Twitter is buzzing with speculation that SHIB could be on the verge of a breakthrough, potentially signaling a bullish phase for the meme coin.



Read Next:&nbsp;



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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44495344/shiba-inu-rallies-10-what-is-going-on">Shiba Inu Rallies 10%: What Is Going On?</a></li>
</ul>

'Dogecoin Killer' Shiba Inu Surges 5%: What Is Going On?

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has reclaimed the $84,000 level on Tuesday morning, sparking speculation about whether its price <a href="https://www.benzinga.com/money/bitcoin-price-prediction">correction is over</a>.



What Happened: Prominent pseudonymous analyst Kevin <a href="https://x.com/Kev_Capital_TA/status/1906885894847472031">stated</a> on Tuesday on X that he believes Bitcoin&#8217;s correction to be almost over.



He remains uncertain about the strength of the next bounce, questioning whether Bitcoin will surge to new highs or form a lower high before another pullback.



The analyst states he will continue closely tracking money flow, macro fundamentals and spot volume to gauge the next move.



Crypto chart analyst Ali Martinez identified four critical support levels, with $76,180 as the highest and $39,980 as the lowest potential floor.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The pricing bands highlight four critical support levels for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>: • $76,180 • $58,080 • $43,740 • $39,980 <a href="https://t.co/jOsIbo7UBt">pic.twitter.com/jOsIbo7UBt</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1906948893725929826?ref_src=twsrc%5Etfw">April 1, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Pseudonymous trader ChimpZoo <a href="https://x.com/ThinkingBitmex/status/1906962822505914758">argued</a> that Bitcoin has essentially bottomed at $81,000. 



He acknowledges the possibility of a brief dip to $79,000 but remains confident in the long-term upside, pointing out that Michael Saylor has absorbed $2.5–$3 billion in sell pressure, reducing the pool of marginal sellers.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44581901/bitcoin-is-in-a-mini-bear-market-says-10x-research">Bitcoin Is In A Mini Bear Market, Says 10x Research</a>



Why It Matters: Santiment data shows BTC ranging between $81,000 and $84,000, while whale wallets (holding 1,000–10,000 BTC) having increased to 1,993—a 2.6% rise in five weeks, indicating cautious optimism from key stakeholders.



According to IntoTheBlock data, Bitcoin's large transaction volume spiked 79.5% in the past 24 hours, with transactions over $100,000 jumping from 6,309 to 10,147. Exchanges netflows are down by 388.9%.



Coinglass data shows open interest up 1.3%, while derivatives trading volume surged 28.9%.



Read Next:



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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44563102/strategy-acquires-22048-more-bitcoin-for-1-92-billion-bringing-total-holdings-to-528185-btc">Strategy Acquires 22,048 More Bitcoin For $1.92 Billion, Bringing Total Holdings To 528,185 BTC</a></li>
</ul>



Image created using artificial intelligence with Midjourney.

Bitcoin Reclaims $84,000: Is The Correction Nearing Its End?

Stablecoin issuer Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>) and Japanese firm Metaplanet Inc. have significantly increased their Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) reserves in the first quarter of 2025, reflecting a growing corporate trend <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44497919/strategy-could-hold-up-to-1-million-bitcoin-by-2033-bernstein">of cryptocurrency investment</a>.



What Happened: Tether <a href="https://bitinfocharts.com/bitcoin/address/bc1qjasf9z3h7w3jspkhtgatgpyvvzgpa2wwd2lr0eh5tx44reyn2k7sfc27a4">acquired </a>8,888 Bitcoin for approximately $735 million, bringing its total holdings to 92,646 BTC, valued at $7.8 billion as of April 1.



Metaplanet <a href="https://contents.xj-storage.jp/xcontents/33500/5d8413b7/6ade/43cb/90e2/3ffadef17e1e/140120250331505547.pdf">added </a>696 Bitcoin at an average price of 14,586,230 yen per coin, totaling 10.152 billion yen ($68 million USD at current exchange rates), increasing its holdings to 4,046 BTC.



Tether's latest purchase aligns with its strategy of allocating 15% of its quarterly net profits to Bitcoin, a practice it began in September 2022 and formalized in May 2023.



The company, which reported a $13 billion net profit in 2024, has now amassed the sixth-largest Bitcoin wallet globally, with unrealized gains of $3.86 billion. 



Beyond Bitcoin, Tether is diversifying into sectors like AI, energy production and Bitcoin mining, while its USDT stablecoin remains the largest globally, with a supply of 145 billion tokens.



Tether continues to face scrutiny for not conducting full financial audits, relying instead on quarterly attestations.



CEO Paolo Ardoino has prioritized securing a full audit, with the company currently in discussions with a Big Four accounting firm.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44581901/bitcoin-is-in-a-mini-bear-market-says-10x-research">Bitcoin Is In A Mini Bear Market, Says 10x Research</a>



Why It Matters: Metaplanet's acquisition was executed through its Bitcoin Income Generation business line, utilizing cash-secured put options to buy Bitcoin at below-market prices.



The strategy generated 770 million yen in revenue, equivalent to 50.26 BTC in premiums.



"By selling puts and collecting premium income, the Company improved its BTC acquisition efficiency," Metaplanet stated in its April 1 disclosure. 



The firm's Q1 BTC Yield, a key performance indicator, reached 95.6%, reflecting strong growth in its Bitcoin holdings relative to fully diluted shares.



The purchases come amid a challenging market, with Bitcoin's price dropping 12% in Q1 2025—its worst first-quarter performance since 2018—due to macroeconomic uncertainty and shifting sentiment. 



Bitcoin is currently trading at around $84,000. 



Metaplanet has been actively raising funds through bond issuances and stock acquisition rights to fuel its Bitcoin strategy, including a recent issuance of its 10th Series of Ordinary Bonds to EVO FUND on March 31, aimed at further accumulation.



Read Next: 



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</ul>



Image: Shutterstock

'Asia's MicroStrategy' Metaplanet And Tether Announce Major Bitcoin Purchases

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) appears to be locked in <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44476199/would-a-recession-be-bullish-or-bearish-for-bitcoin">a mini bear market</a>, with weak technical signals, fading momentum, and a lack of fresh catalysts weighing heavily on price action, according to a Tuesday market note from 10x Research.



What Happened: In the report, the firm said Bitcoin is currently trading below its key trend model level of $88,000—an indicator they consider crucial for gauging bull versus bear cycles.



"There's little doubt from on-chain data that Bitcoin is in at least a mini-bear market," 10x Research wrote, adding that without a turnaround in momentum, "that remains the base case."



While some short-term technical indicators briefly hinted at a relief rally, the bounce stalled at $88,500 and has since reversed. 



Bitcoin also remains below its 21-week moving average, a widely-used long-term trend signal. 



One of the firm's most reliable metrics—the short-term holder realized price, now near $93,000—has acted as stiff resistance. 



The rejection at this level suggests traders are exiting breakeven positions, further reinforcing bearish pressure.



On-chain data also supports this cautious outlook. 



Funding rates remain depressed, signaling reduced risk appetite, while retail investor activity has plummeted—particularly after losses in <a href="https://www.benzinga.com/25/03/44555553/will-the-greatest-of-them-all-trump-memecoin-make-its-way-to-trump-media-etfs-polymarket-bettors-think-its-unlike">meme tokens like</a> Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>).



"Confidence took a major hit when retail lost billions," the report noted, with exchange listings near peak prices providing exit liquidity for insiders.



ETF outflows have now continued for a second consecutive month. Hedge funds that previously executed arbitrage trades using <a href="https://www.benzinga.com/money/best-spot-bitcoin-etfs">Bitcoin ETFs</a> are pulling back due to low funding rates.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44569369/trump-family-tightens-grip-on-defi-platform-world-liberty-financial">Trump Family Tightens Grip On DeFi Platform World Liberty Financial</a>



"Without a meaningful rise in funding rates, it's unlikely ETF inflows return to their former strength," 10x explained.



The broader macro environment offers little comfort either. While market hopes are pinned on a potential Fed rate cut <a href="https://www.benzinga.com/25/01/43319060/first-rate-cut-in-june-if-at-all-in-2025-economist-says-as-federal-reserve-holds-rates-steady">by June</a>, 10x believes it's more likely to be delayed until September due to sticky inflation and resilient labor data.



"Bitcoin is looking for real action—not just dovish talk," the note emphasized.



Political developments have also failed to ignite momentum. Despite Trump's efforts to boost sentiment—such as announcing a <a href="https://www.benzinga.com/25/04/44580634/bitcoin-is-digital-risk-not-digital-gold-asserts-peter-schiff">strategic Bitcoin reserve</a>—these moves lack legislative backing.



"Holding confiscated Bitcoins doesn't create buying pressure," the report said, suggesting that much of the recent crypto optimism has been narrative-driven rather than supported by fundamentals.



Why It Matters: Despite the bearish tone, the firm sees relative strength in Bitcoin compared to altcoins, many of which are underperforming sharply.



Their proprietary model combining total crypto market cap and Bitcoin dominance confirms this trend. 



Notably, Tron (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/trx/usd">TRX</a>) and Toncoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TON</a>) have stood out for showing resilience in a weak market, potentially due to favorable geopolitical positioning.



In the near term, 10x expects Bitcoin to remain range-bound between $73,000 and $94,000. 



"Volatility is likely," they said, recommending selling options strategies—such as puts or calls—depending on whether price moves toward the lower or upper end of that range.



Unless a clear macro shift or bullish catalyst emerges, the outlook remains muted. 



"The current market structure is fragile," the analysts said, suggesting that their view that Bitcoin is now in a confirmed mini bear market.



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Bitcoin Is In A Mini Bear Market, Says 10x Research

Influential economist Peter Schiff questioned Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) repeated comparisons to gold on Monday, deeming the apex cryptocurrency &#8220;anti-gold&#8221; rather than &#8220;digital gold.&#8221;



What Happened: In his YouTube podcast, Schiff stated that Bitcoin behaves nothing like gold, and is, in fact, more akin to &#8220;digital risk&#8221; than &#8220;digital gold.&#8221;



&#8220;I mean, if it&#8217;s digital gold, it should have something in common with gold. It should trade similarly to Gold. It should have some kind of positive correlation. It doesn&#8217;t have any,&#8221; Schiff emphasized. &#8220;It&#8217;s the opposite. It&#8217;s anti-gold. So why do we need a strategic reserve of it?&#8221;



Schiff even compared Bitcoin with penny stocks, the high-risk equities known for their speculative nature. &#8220;If we don&#8217;t have a reserve of penny stocks, then why should we have a reserve of Bitcoin?&#8221; he asked.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f534; LIVE! The Peter Schiff Show Podcast &#8211; Ep 1019<a href="https://t.co/SWZIZykNFD">https://t.co/SWZIZykNFD</a>&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1906756108573647028?ref_src=twsrc%5Etfw">March 31, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also:&nbsp;<a href="https://benzinga.com/25/03/44576728/bitcoin-ethereum-dogecoin-rise-as-trumps-foray-into-btc-mining-analyst-highlights-spike-in-one-of-the-most-important-key-stakeholder-tiers-in-crypto" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Rise As Trump Family Foray Into BTC Mining: Whale Wallet Spike &#8216;Slight Sign Of Confidence,&#8217; Says Analyst</a>



Schiff&#8217;s comments come in the wake of Bitcoin&#8217;s recent market behavior, which has been contradictory to its narrative as an inflation hedge. The leading digital asset has plunged over 23% from its January highs and more than 11% year-to-date.



In contrast, gold has surged over 19% since 2025 began, reflecting its stability in a period of uncertainty fueled by President Donald Trump&#8217;s tariff policies.



In fact, Bitcoin was negatively correlated with gold as of this writing, according <a href="https://www.theblock.co/data/crypto-markets/prices/btc-pearson-correlation-30d">to</a> The Block, meaning that if one rises, the other drops, and vice versa.



<a href="https://in.benzinga.com/25/03/44410262/why-bitcoin-pulls-back-and-then-gains-after-economic-uncertainties-like-tariffsbitwise-cio-explains-dip-then-rip-phenomenon">Bitwise&#8217;s Chief Investment Officer, Matt Hougan</a>, explained that Bitcoin&#8217;s short-term price dips during economic turbulence are due to increased market uncertainty.



Why It Matters: &nbsp;Bitcoin&#8217;s dip amid the ongoing economic turbulence has been a subject of great discussion. 



Leading cryptocurrency analyst Matt Hougan said in a research report last month that while incidents like tariffs increase Bitcoin&#8217;s riskiness in the short term, they <a href="https://in.benzinga.com/25/03/44410262/why-bitcoin-pulls-back-and-then-gains-after-economic-uncertainties-like-tariffsbitwise-cio-explains-dip-then-rip-phenomenon">increase the long-term price target </a>due to the perceived economic disorder. He described it as a "Dip Then Rip" phenomenon.



Schiff&#8217;s criticism of Bitcoin is not new. He has previously warned that the strategic Bitcoin reserve is a tool to trick Americans into speculative losses and that it exists solely to &#8220;scam&#8221; more people into buying cryptocurrency.



Price Action: At the time of writing, Bitcoin was exchanging hands at $83,824.30, up 2.12% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. Spot gold traded at $3,132.09 per ounce as of this writing, after registering an all-time high of $3,145 earlier in the day.



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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.



Photo courtesy: Shutterstock<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

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