Digital asset investment products continued their losing streak for the fourth consecutive week, with outflows reaching $876 million, according to CoinShares‘ latest report. James Butterfill, head of research at CoinShares, noted that while the rate of capital flight has slowed, investors remain cautious amid the bearish market situation. He said the outflow brought the total […]
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The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
U.S. investors were the most bearish last week, pulling out $922 million from crypto funds, despite President Trump's executive order.
The HUD has held meetings to discuss the possibility of using crypto and blockchain in some of its operations, ProPublica reported.
Trump’s crypto policies, including a strategic bitcoin reserve, have marked a shift, but VCs say key regulatory steps are still needed.
Arkham users can more easily track the wallet transactions of Justin Sun, Vitalik Buterin, Arthur Hayes, Donald Trump and other high-profile figures in the crypto industry.
Bitcoin and other top altcoins like ADA and Ripple’s XRP surged in price minutes after US President Trump issued a statement on a crypto strategic reserve. After languishing below $85k for days, Bitcoin climbed past $90k last Monday and briefly flirted with the $95k level. However, crypto’s hot streak was brief, making Trump’s latest statement a “sell on news” event. From $94,770 on March 3, Bitcoin dipped to as low as $82,681 on March 4. Leading altcoins also slumped with BTC, creating a ripple effect across the broader crypto industry. Today, Bitcoin is trading wildly between $84k and $91k, more than 10k below its all-time high. Related Reading: Billionaire Warns Of Financial Turmoil—Will Bitcoin Save Investors? What’s Up With The Bitcoin Drop? Bitcoin gradually recovered from a low of $83,000 last week and bounced back to $92k days before the planned White House Crypto Summit this Friday, March 7th. Trump’s latest pronouncement did not specify how the reserve shall be funded beyond what was already included in the US’ crypto holdings. Instead of clarity, the statement was just a commitment to retain crypto holdings, with no specifics on funding. The president’s disclosure on a possible stockpile spurred conversations and debates among analysts and critics. Many crypto holders and supporters backed the possible inclusion of SOL, XRP, and ADA. Stock broker and financial commentator Peter Schiff shared his thoughts on the plan, saying the US government should limit the assets included in the pile. He specifically identified “seized assets”, so the government should not buy additional SOL, ADA, XRP, and ETH. Other Crypto Experts Remain Supportive Of Bitcoin As Bitcoin and other leading altcoins struggle, other crypto personalities publicly announce their support for the project. For example, Metaplanet CEO Simon Gerovich argued that even though BTC is retreating, there’s no denying the importance of Trump’s latest executive order. Gerovich stated that this new order authorizes the Secretaries of Commerce and Treasury to draft a strategy for buying Bitcoin without burdening American taxpayers. He stated that the order is more aggressive and provides a plan for acquiring more crypto without affecting the national budget. Possible Paths To Acquire BTC Discussed Gerovich further explains that there are two ways the US government can acquire Bitcoins and set up a strategic stockpile: One, Trump can exercise his presidential power by using the Exchange Stabilization Fund, which has $39 billion in assets. Two, the president can rely on Congressional approval. The second option is in line with Senator Lummis’ Bitcoin Bill, where the US government will acquire 200k Bitcoins annually for five years. Related Reading: Bitcoin ‘Won’t Stop At $150K’ This Year, Research Firm Chief Says Lummis was one of the first personalities to comment on the latest EO. The senator mentioned that the latest order was just the beginning, and encouraged Congress to pass the Bitcoin bill. Crypto law expert MetaLawman also joined the conversations, supporting the Lummis plan by referencing the bill’s Section 5(a)(1)(A) which authorizes the US Treasury to buy 1 million Bitcoins in five years. Featured image from Gemini Imagen, chart from TradingView
Brian Armstrong said recent policy shifts warrant a new push in the U.S., and president's working group chief Hines said Trump is delivering on crypto promises.
An official said Trump was "just giving five examples" of cryptocurrencies that could theoretically be in a crypto stockpile.
Senator Elizabeth Warren has called for greater transparency in David Sacks‘ role as Donald Trump administration’s crypto and artificial intelligence advisor. In a March 6 letter, Warren urged Sacks to prove that he is not personally profiting from policies that favor select digital assets, weaken regulatory oversight, and ease enforcement actions against the crypto industry. Warren stressed […]
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The approach to the newly announced bitcoin reserve grants that BTC deserves special treatment among digital assets, a White House official said.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
In crypto, wild price swings are normal when policies and new regulations are announced. This market observation became evident this week, immediately after US President Donald Trump announced plans for a strategic crypto reserve that includes Ethereum, Solana, ADA, Ripple’s XRP, and of course, Bitcoin. Related Reading: Billionaire Warns Of Financial Turmoil—Will Bitcoin Save Investors? Cryptos’ reaction was immediate, with Ethereum as one of the top assets that surged and fell massively within days. On March 2nd, ETH was trading at $2,191, then climbed to as high as $2,542 on March 3rd, before dropping below $2,300 at the day’s close and settling at the $2,050 level again the next day. According to Glassnode, the recent crypto price movements unraveled some of the key strategies of ETH holders. A Flurry Of Activities Among ETH Holders Glassnode data shows ETH holders and investors moved and adjusted their holdings during the recent crypto price swings. Based on its three-month analysis, Ether holders who acquired their tokens at $3,500 adjusted their holdings in February. #Ethereum investors actively managed their exposure through this volatile period. After a rally to $2.5K, $ETH retraced to $2.05K – levels last seen in Nov 2023. Cost Basis Distribution (CBD) shows how capital rotated across price levels and who took advantage of the dip. ???????? pic.twitter.com/vl6AdghfRO — glassnode (@glassnode) March 5, 2025 These investors started their positions at a peak price of $2,500, and remained on their positions when ETH revisited $2,050. Based on Glassnode figures, these investors own 1.75 million ETH with an average acquisition price of $3,200. This means that their holdings are now down 10% from their entry. Glassnode also shares that on March 1st, investors bought 500k ETH at an average price of $2,200. However, this group quickly redistributed their holdings when ETH’s price hit $2,500. Ethereum’s recent price action has revealed a new major price resistance at $2,800, where market traders accumulated 800k tokens. As such, crypto holders and investors are now looking at this level if ETH rebounds soon. Growing Accumulation Among ETH Whales Market analysts also highlight the growing trading activity and accumulation among crypto wallets. Crypto commentator Ted shared that a crypto whale investor recently bought 17,855 ETH worth roughly $36 million, with an average price of $2,054. The whale’s ETH holdings are now valued at $2.5 billion. This transaction validates the current accumulation trend, suggesting that today’s price is a “buy opportunity”. Is It Time To Buy ETH? Currently, ETH is trading between $2,100 and $2,300, which is still below its Monday price of $3,500. According to a CryptoQuant analyst, Ethereum is most likely in favorable condition after its recent price swings. The analyst added that Ethereum’s MVRV ratio drops below 1, meaning the asset is undervalued. Related Reading: Mt. Gox Stirs The Market With $1 Billion Bitcoin Transfer—What’s Going On? This level often sets the tone for a price surge in previous bull markets. He also noted that an increasing number of ETH addresses are buying more tokens. These wallets hold ETH without selling, suggesting that institutional players are building their holdings. Still, the CryptoQuant analyst remains cautious on ETH, pointing out that macroeconomic conditions can still sway crypto prices. He then noted the possible impact of tariff measures and monetary strategies on ETH and altcoin prices. Featured image from Reuters, chart from TradingView
US President Donald Trump announced an executive order on March 6 to establish a Strategic Bitcoin Reserve. This order ensures that seized Bitcoin will be held in a national reserve and will not be sold. It would instead function as a store of value, akin to a “digital Fort Knox.” The directive assigns Treasury Secretary […]
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President Trump signed an executive order to establish a U.S. Strategic Bitcoin Reserve and Digital Assets Stockpile late Thursday.
Warren's letter comes as the President signed an executive order to establish a U.S. Strategic Bitcoin Reserve late Thursday.
Traders are disappointed the crypto reserve plans won’t add any buying pressure to the market, at least in the near term, with few catalysts to buoy the market.
The U.S. president directed his administration to establish a bitcoin reserve to hold seized assets, and it's setting up a separate crypto stockpile.
Bitcoin fell sharply after Trump signed an executive order to set up a Strategic Bitcoin Reserve with forfeited assets.
The US will not sell any Bitcoin deposited into the reserve, and it will be kept as a store of value akin to a digital Fort Knox.
The "Art of the Deal" might be growing tiresome. Did someone say "stagflation?"
The DeFi protocol will add Sui assets to its token reserve and explore product development opportunities.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
MicroStrategy founder and executive chairman Michael Saylor suggested that the United States might purchase one million Bitcoin for its strategic reserves. His remarks came during an interview with FOX Business ahead of Friday’s White House Crypto Summit, to be hosted by US President Donald Trump. Saylor, whose company is widely known for its significant Bitcoin holdings, confirmed that MicroStrategy owns approximately 500,000 of the digital tokens, accounting for “about 2.4% of the worldwide supply.” He is one of several crypto-industry figures expected to join the presidential roundtable that will advise the administration on digital asset policy. Will Trump Buy 1 Million Bitcoin? When asked how the government would finance such a large crypto reserve, Saylor pointed to a deliberate, multi-year timeline, referencing a “six-month process” set out by the recent executive order. He added: “There are 12 members on the presidential working committee. There’ll be involvement from the industry. There’ll be involvement from the Senate and from the house and I and it’s above my pay grade to decide how it is determined.” Related Reading: Bitcoin’s ‘KISS Of Death’? Arthur Hayes Warns Of Recession Before Surge According to Saylor, “the longest bill [by Senator Lummis] has laid out the idea of acquiring Bitcoin strategically over four years, just consistently day by day in order to reach a million Bitcoin target.” Currently, the US government is believed to hold 200,000 BTC—worth an estimated $17 billion at today’s prices. Should it proceed with additional large-scale purchasing, the effect on the price of Bitcoin could be considerable. However, Saylor argued that the most “responsible” approach would be “to go slow and steady and deliberate with clear telegraphing and transparency” rather than making abrupt acquisitions that could roil the market. Central to Saylor’s stance is the classification of Bitcoin as “digital property,” an asset without a central issuer. “The real key about Bitcoin is for people to understand that it’s a digital property. It’s a savings account that empowers every single American to save their wealth and preserve it over time,” Saylor explained. He emphasized that if the US government provides clarity around this status, it could instill greater confidence in citizens to consider cryptocurrencies a legitimate savings vehicle. Related Reading: Bitcoin Price Suffers Bearish Deviation After Filling CME Gap, Is This Good Or Bad? In discussing whether taxpayer money should be used to purchase Bitcoin, Saylor drew a distinction between different digital assets. While Bitcoin (as a “digital commodity”) is, in his view, well-suited for strategic reserves, he also acknowledged the importance of digital currencies (stablecoins), tokenized securities (for capital efficiency), and token-based utility projects. Nevertheless, he singled out Bitcoin as the prime candidate for a national reserve, calling it “the one universally agreed-upon foundational asset in the entire crypto economy.” ???????? MICHAEL SAYLOR HINTS THE USA WILL BUY 1 MILLION #BITCOIN FOR ITS RESERVE ???? IT’S HAPPENING ???? pic.twitter.com/jr73piPfNY — Vivek⚡️ (@Vivek4real_) March 5, 2025 Saylor also addressed skeptics who question the rationale for a national Bitcoin reserve compared to more traditional strategic reserves such as oil or medical supplies. He compared Bitcoin to property, invoking a historical analogy: “We bought 75% of this nation with about 40 million dollars […] We bought Louisiana. We bought California. We bought Texas. We bought Alaska. It’s property. If you think of Bitcoin as property in cyberspace and you say where is all the money in the world headed? Well, it’s headed from foreign countries […] It wants to go from the physical world to the digital world.” For those concerned about the fundamental ethos of Bitcoin as a decentralized asset with no government involvement, Saylor insisted that official adoption need not contradict the cryptocurrency’s original design. “Satoshi gave us a process, a protocol for prosperity. That’s what we call Bitcoin,” he said. While early adopters may have favored minimal regulation, Saylor believes nation-states “interested in economic empowerment and prosperity” will inevitably follow individuals and corporations into the digital domain. At press time, BTC traded at $91,725. Featured image from YouTube, chart from TradingView.com
Cardano founder Charles Hoskinson has revealed that he was not invited to the upcoming White House Crypto Summit on March 7. His exclusion has sparked discussions, especially since the blockchain network’s ADA token is included in US President Donald Trump’s proposed crypto reserve. No White House invite In a March 6 broadcast, Hoskinson revealed that […]
The post Cardano’s Charles Hoskinson reacts to White House crypto summit snub appeared first on CryptoSlate.
Stellar (XLM) is attempting to reclaim a recently lost level that could propel the price to a retest of a key resistance zone. Some market watchers suggested that its price could be preparing for a massive surge to a new all-time high (ATH). Related Reading: Cardano 125% Pump Coming? Analyst Says ADA ‘Could Be Poised’ For Rally To $2.20 Stellar Getting Ready For 300% Breakout Stellar has seen a 9% surge in the past day, recovering from this week’s market dump and rallying to the $0.30 mark again. According to crypto analyst Ali Martinez, Stellar could witness a 300% breakout soon as the cryptocurrency appears to be forming a bullish pattern. After the November 2024 breakout, XLM started to form a bullish flag, with the 600% post-US election rally forming the pattern’s flagpole. Since then, Stellar has been consolidating between the $0.63 and $0.25 price range, forming the pattern’s flag. Since hitting its 3-year high in December, XLM has seen a 52% price decrease, failing to break above its downtrend line. During the February market retraces, the cryptocurrency retraced nearly 40% from its monthly opening, hitting its lowest price action since November. Over the weekend, Stellar followed the rest of the crypto market, fueled by US President Donald Trump’s announcement of a US Crypto Strategic Reserve comprised of “made in the USA” cryptocurrencies like XRP, Cardano (ADA), and Solana (SOL). XLM surged around 25% from the range’s lower levels to $0.37, retesting the $0.35 key resistance. The $0.32-$0-35 range has been a key zone for the cryptocurrency since the Q4 2024 breakout, serving as a crucial support level until turning into resistance in February. As the analyst pointed out, “A sustained break above the $0.42 resistance could trigger a bull run to $1.60.” Nonetheless, the cryptocurrency’s recent performance has failed to reclaim a key level in the mid-zone of its 3-month price range. XLM Following 2017’s Playbook? XLM failed to hold the $0.35 level amid the Monday market dump, retracing 20% and erasing the Sunday gains. Breaking above this resistance could send Stellar’s price to the bull flag’s upper range while failing to reclaim it could send the price to the pattern’s lower range between $0.20 and $0.23. On Tuesday, the cryptocurrency continued bleeding and retested its recent lows as support. XLM bounced from $0.27 above the $0.30 level on Wednesday morning, attempting to reclaim it. Technical Analyst Charting Guy highlighted that XLM’s Relative Strength Index (RSI) recently broke out of a 96-day downtrend “while price consolidated in the golden pocket with time capitulation getting to people.” Related Reading: Ethereum Price ‘Between Heaven And Hell’: $2,000 Level Retest Key For ETH’s Next Move He also noted that XLM’s bull flag “coincidentally targets” the 1.272 Fibonacci level at around $2.46. After its recent performance, the cryptocurrency appears to be following its 2017 pattern, which adds “more confluence to 1.272 fib target,” he explained. In Q4 2017, Stellar saw a similar price breakout, followed by a consolidation period within a bullish flag. XLM then broke out of this pattern and rose over 190% to ATH in early 2018. To the analyst, “Once we break above the top of the golden pocket, it’s game on.” At the time of writing, Stellar trades at $0.30, a 2.4% increase in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Bitcoin's fundamentals held up well during the latest dip, suggesting underlying strength, Swissblock analysts said.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
US President Donald Trump is reportedly preparing to unveil the Bitcoin Reserve Strategy at the upcoming White House Crypto Summit on March 7, according to The Pavlovic Report. According to the report, Commerce Secretary Howard Lutnick confirmed that President Trump will outline his vision for the crypto industry during the event. His address will include […]
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"Trump talks up crypto when he is before crypto investors. Yet we continue to believe this is not a personal priority," said TD Cowen.