Crypto News
DeFi lender Nostra pauses borrowing after price feed error
Nostra, a lending protocol on Starknet, has paused borrowing for two liquid staking tokens after identifying a “critical issue” with its price feeds, the decentralized finance (DeFi) protocol said. On March 24, errors in Nostra’s price feed inflated the reported prices of xSTRK and sSTRK — two liquid staking derivatives of Starknet’s native STRK token — to approximately three times the tokens’ actual value, Nostra said in a post on the X platform.According to Nostra, “[s]uch an inflated price feed could have caused unnecessary liquidations of otherwise safe positions, resulting in users with healthy positions getting liquidated.” In response, the DeFi protocol has disabled any further borrowing against xSTRK and sSTRK collateral deposits, Nostra said. Nostra has also recommended that users with existing xSTRK and sSTRK deposits withdraw the collateral immediately. “Since we don’t have a secondary (fallback) oracle to support these assets, as none are available, we are unable to fully prevent similar events from occurring in the future,” Nostra added.“Our priority has always been and continues to be to keep existing user funds safe and with no fallback oracle, the risks outweigh the benefits,” it said. Nostra’s collateral token options. Source: NostraRelated: Starknet to settle on Bitcoin and Ethereum to unify the chainsStarknet DeFi protocolStarknet is a layer-2 scaling chain of Ethereum secured using zero-knowledge (ZK) proofs. It launched its mainnet in late 2021, according to Messari.It has a total value locked (TVL) of approximately $575 million, according to data from L2Beat. Lending protocol Nostra is among the larger DeFi projects operating on the chain. It has a TVL of approximately $55 million, according to its website. On Nostra, users post collateral in one token to borrow in another token. The DeFi protocol’s most popular collateral tokens are Ether, STRK, and stablecoins USDC (USDC) and Tether (USDT). Starknet designed STRK to be staked in exchange for a portion of the network’s fee revenues, according to its documentation.xSTRK and sSTRK are liquid staking tokens issued by independent DeFi protocols Endur and Nimbura, respectively. Magazine: What are native rollups? Full guide to Ethereum’s latest innovation
Published Date: 2025-03-24 19:14:27Creator: Cointelegraph by Alex O’Donnell
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Will Bitcoin price hit $130K in 90 days? Yes, says one analyst
Bitcoin (BTC) delivered its best weekly performance in over two months, climbing 4.24% to an intra-day high at $88,804. BTC also reclaimed a bullish stance on the charts, closing above the daily chart’s 200-day exponential moving average (EMA).Bitcoin 1-day chart. Source: Cointelegraph/TradingViewWith a weekly close above $84,600, the likelihood of BTC testing $90,000 increases. However, BTC price must overcome the descending resistance level to make a sustainable move at the range highs. Bitcoin correction is a “healthy pause”Bitcoin researcher Axel Adler Jr. explained that based on onchain metrics, the current price cycle reflects a healthy consolidation rather than the beginning of a bear market. Adler Jr. noted that BTC has not yet entered “overheated” territory in this cycle, as indicated by BTC’s Investor Price Model. This metric flashed a sell signal twice during 2021, and the model incorporates the realized cap, thermo cap, investor price, and Bitcoin supply. Using Bitcoin’s cumulative value days destroyed (CVDD), Adler argued that the market remains in a “growth stage.”Bitcoin cumulative value days. Source: adlercryptoinsights / SubstackThe CVDD metric monitors selling activity among long-term holders. The current bull cycle (2024-2025) triggered a sell signal just once, back in March 2024. In a Substack article, Adler said,“Considering the current market dynamics, we might see seasoned investors taking profits once Bitcoin breaches key peak levels ($123K), potentially exerting downward pressure on the price.”From the above analysis, Adler Jr. predicted that Bitcoin could climb to $130,000 within 90 days.Related: Bitcoin must reclaim this key 2025 level to avoid new lows — ResearchBitcoin open interest jumps $1.5 billion in 24 hours According to Velo data, Bitcoin's open interest (OI), representing the total value of outstanding futures contracts, jumped by over $1.5 billion in the last 24 hours. Meanwhile, the funding rate, which reflects the cost of holding leveraged positions, stayed near neutral. This suggests that neither bullish (long) nor bearish (short) traders were dominantly in control. Bitcoin price and aggregated open interest. Source: Velo.chartBitcoin experienced a surge in upward momentum late on Sunday, March 23rd. Weekend price rallies like this often occur with lower trading volume, as larger market participants tend to step back until the start of the week. In such a scenario, leveraged trades amplifying the action could heavily influence the price movement.In an X post, anonymous crypto analyst IT Tech PL also pointed out the OI level rise after BTC exceeded $87,500. However, the analyst added, “But here’s the catch: High OI + Rapid Price Increase = Risk of Liquidation Cascades!”Bitcoin 4-hour chart. Source: Cointelegraph/TradingViewFrom a technical perspective, Bitcoin registered a new high at $88,750 over the previous week’s top. However, as the chart exhibited, the price tested the upper Bollinger Band alongside the descending resistance. Additionally, BTC is also oscillating within an ascending channel. Based on the above confluence, BTC could witness a short-term correction to test the demand zone around $86,000-$87,000 before breaking through the $90,000 threshold. Related: Michael Saylor’s Strategy surpasses 500,000 Bitcoin with latest purchaseThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published Date: 2025-03-24 18:53:23Creator: Cointelegraph by Biraajmaan Tamuly
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Bhutan government moves $63M BTC to three wallets
The Bhutan government moved $63 million worth of Bitcoin (BTC) on March 24 to three wallets, according to Onchain Lens, which analyzed data from Arkham Intelligence.One of the wallets now holds 600 BTC worth approximately $53 million at time of writing.Bhutan has leveraged its abundant hydroelectric power to mine Bitcoin since 2019. In September 2024, Arkham indicated that it had found the first wallet tied to the Bhutan government’s investment arm, Druk Holdings. After the March 24 transfers, the wallet holds $889.9 million invested in Bitcoin.Source: Onchain LensThe statistics indicate that Bhutan’s cryptocurrency holdings represent 30.7% of its gross domestic product (GDP), which, according to the latest data from the World Bank, reached $2.9 billion in 2023.Although Bitcoin is the primary holding of the Bhutan government, the nation does not seem to be pursuing a solely Bitcoin-based strategic reserve. Other stacks in the Druk Holdings wallet are $334,580 of Ether (ETH) and smaller amounts of LinqAI (LNQ), Phil (PHIL), and Apu Apustaja (APU), among other coins.Crypto holdings of the Bhutan government as of March 24, 2025. Source: Arkham IntelligenceIn October 2024, Bhutan moved $66 million of its BTC holdings to Binance. Over the past two months, the government has been moving small portions of Bitcoin and Ether out of its main wallet to other addresses.Governments adopt cryptocurrency reservesBhutan’s national government isn’t the only government body adopting cryptocurrency in the country — the practice has filtered down to the city level as well. In January 2025, Bhutan’s Gelephu Special Administrative Region announced plans to recognize a variety of digital assets as part of its strategic reserve.Related: Bitcoin’s role as a reserve asset gains traction in US as states adoptGovernments that have adopted a Bitcoin strategic reserve have seen their holdings multiply during this 2024-present bull run. El Salvador saw the value of its Bitcoin holdings surge to $100 million in November 2024, and the United States government now holds over $17 billion in Bitcoin.While national governments garner the most attention, some state governments are thinking of creating Bitcoin reserves as well. In the US, Texas has passed its Bitcoin reserve bill, although it still must be signed into law by the state’s governor. Bitcoin reserve bills in some states like Arizona are inching closer to becoming law, though a few states have already rejected their Bitcoin bills for a variety of reasons.Magazine: Chinese Tether laundromat, Bhutan enjoys recent Bitcoin boost: Asia Express
Published Date: 2025-03-24 18:49:22Creator: Cointelegraph by Christopher Tepedino
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Price analysis 3/24: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LINK
Bitcoin (BTC) rose 4.25% last week to close above $86,000, and the bulls extended the recovery above $88,700 on March 24. 10x Research founder Markus Thielen said in a March 23 report that Bitcoin’s reversal indicators had turned positive, suggesting a “renewed uptrend.”Buyers seem to be returning to the markets. According to SoSoValue data, US Spot Bitcoin exchange-traded funds (ETFs) witnessed net inflows of $744.4 million last week after recording five consecutive weeks of outflows. However, Ether ETFs could not replicate a similar performance as they witnessed a fourth successive week of net outflows.Daily cryptocurrency market performance. Source: Coin360Analysts are divided about the near-term price action for Bitcoin. Select analysts believe Bitcoin could run into significant resistance near $90,000, starting a pullback toward $80,000. In contrast, BitMEX co-founder and chief investment officer of Maelstrom, Arthur Hayes, said in a post on X that Bitcoin will rally to $110,000 before it drops to $76,500.Could Bitcoin bulls maintain the momentum and push the price above $90,000? Will the altcoins follow Bitcoin higher? Let’s analyze the charts to find out.S&P 500 Index price analysisThe S&P 500 Index (SPX) has risen to the 20-day exponential moving average (5,742), where the bears are expected to step in. SPX daily chart. Source: Cointelegraph/TradingViewIf the price turns down from the 20-day EMA, the bears will attempt to drag the index below 5,670. If they succeed, the index may retest the critical support zone between 5,600 and 5,500.On the other hand, a close above the 20-day EMA will be the first indication that the correction may be ending. The index will then try to rise toward the 50-day simple moving average (5,913).US Dollar Index price analysisThe US Dollar Index (DXY) rebounded off the 103.37 level on March 19, indicating that the bulls are trying to form a floor.DXY daily chart. Source: Cointelegraph/TradingViewThe index could reach the 20-day EMA (104.59), which is an important level to watch out for. If the index turns down sharply from the 20-day EMA, the bears will again try to sink the price below 103.37. If they can pull it off, the index may collapse to 102 and eventually to 101.Contrarily, a break and close above the 20-day EMA suggests the bears are losing their grip. The index could climb to the breakdown level of 105.42, which is likely to act as a formidable barrier.Bitcoin price analysisBitcoin broke above the 20-day EMA ($85,572) on March 23, suggesting the start of a strong recovery.BTC/USDT daily chart. Source: Cointelegraph/TradingViewThe 20-day EMA is flattening out, and the RSI has risen into positive territory, signaling a minor advantage to the bulls. The relief rally is expected to face stiff resistance at the 50-day SMA ($90,290). If the price turns down from the 50-day SMA but finds support at the 20-day EMA, it will indicate a positive sentiment. That increases the possibility of a rally to $95,000 and then to $100,000.Conversely, if the price turns down from the 50-day SMA and breaks below the 20-day EMA, it will suggest that the bears remain active at higher levels. A drop below $83,000 could sink the BTC/USDT pair to $80,000.Ether price analysisEther (ETH) bulls are again attempting to drive the price above the 20-day EMA ($2,057) and the breakdown level of $2,111.ETH/USDT daily chart. Source: Cointelegraph/TradingViewIf they manage to do that, it will signal that the markets have rejected the breakdown below $2,111. The ETH/USDT pair could rally to the 50-day SMA ($2,356) and subsequently to $2,550.Time is running out of the bears. If they want to retain the advantage, they will have to defend the $2,111 level and swiftly pull the price below $1,750. That may resume the downtrend toward the next support at $1,550.XRP price analysisXRP (XRP) turned up from the 20-day EMA ($2.38) on March 23, signaling that the bulls are using the dips to buy.XRP/USDT daily chart. Source: Cointelegraph/TradingViewThe bulls will try to push the price above $2.59. If they manage to do that, the XRP/USDT pair could climb to the resistance line, where sellers are expected to mount a strong defense. If the price turns down from the resistance line but rebounds off the 20-day EMA, it will indicate a positive sentiment. That improves the prospects of a break above the resistance line. The pair may then rally to $3.Sellers will have to tug the price below $2.20 to seize control. That could clear the path for a retest of the vital support at $2.BNB price analysisBNB (BNB) has bounced off the moving averages, indicating a change in sentiment from selling on rallies to buying on dips.BNB/USDT daily chart. Source: Cointelegraph/TradingViewIf the price rises and breaks above $644, it will indicate the resumption of the recovery. The BNB/USDT pair could ascend to $686 and above it to the crucial resistance at $745. The 20-day EMA ($613) is the strong support to watch out for on the downside. A break and close below the 20-day EMA could weaken the bullish momentum. The pair may slide to the 38.2% Fibonacci retracement level of $591 and then to the 50% retracement level of $575.Solana price analysisSolana (SOL) broke above the 20-day EMA ($135) on March 24, signaling that the bulls are attempting a comeback.SOL/USDT daily chart. Source: Cointelegraph/TradingViewIf the price maintains above the 20-day EMA, the SOL/USDT pair could rise to the 50-day SMA ($158). Sellers will try to stall the rally at the 50-day SMA, but if the bulls overcome the obstacle, the pair may surge toward $180. That will bring the large $110 to $260 range into play.Contrarily, if the price turns down from the current level or the 50-day SMA, it will suggest that the bears remain sellers on rallies. The bears will have to yank the price below the $120 to $110 support zone to start the next leg of the downtrend. Related: How long will Bitcoin’s price consolidation last?Dogecoin price analysisDogecoin (DOGE) has risen above the 20-day EMA ($0.18), indicating that the bulls have kept up the pressure.DOGE/USDT daily chart. Source: Cointelegraph/TradingViewIf the price closes above the 20-day EMA, the DOGE/USDT pair could climb to the 50-day SMA ($0.21) and later to $0.24. Sellers are expected to defend the level, but if the bulls prevail, the pair could soar to $0.29.Contrarily, if the price turns down from the 20-day EMA and breaks below $0.16, it will signal that bears remain active at higher levels. The pair may then slump to the critical support at $0.14.Cardano price analysisCardano (ADA) has been trading between the moving averages and the uptrend line for the past few days.ADA/USDT daily chart. Source: Cointelegraph/TradingViewThe failure of the bears to sink the price to the uptrend line suggests a lack of selling at lower levels. Buyers will try to strengthen their position by pushing the price above the moving averages. If they do that, the ADA/USDT pair could rise to $0.84 and later to $1.02.This positive view will be invalidated in the near term if the price turns down from the moving averages and breaks below the uptrend line. That could sink the pair to $0.58 and eventually to $0.50.Chainlink price analysisChainlink (LINK) has broken out of the 20-day EMA ($14.60) on March 24, indicating that the downtrend could be ending.LINK/USDT daily chart. Source: Cointelegraph/TradingViewThe LINK/USDT pair could rise to the 50-day SMA ($16.34), which could again act as a stiff resistance. If the price turns down from the 50-day SMA, the pair is likely to find support at the 20-day EMA. If the price rebounds off the 20-day EMA, the likelihood of a rally to $19.25 increases.If bears want to prevent the upside, they will have to swiftly pull the price below $13.82. That may sink the pair to the channel’s support line near $12.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published Date: 2025-03-24 18:03:25Creator: Cointelegraph by Rakesh Upadhyay
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What to expect at Paul Atkins’ SEC confirmation hearing
Former US Securities and Exchange Commission (SEC) member Paul Atkins is scheduled to appear before lawmakers in the Senate Banking Committee on March 27 as part of the Trump administration’s efforts to get the president’s picks into high-level government positions.Since US President Donald Trump took office on Jan. 20, the SEC, under the leadership of acting chair Mark Uyeda, has dropped several investigations and enforcement actions against major crypto firms, many of which had been in court for months or years. Many analysts see the SEC’s recent actions as the administration acting on its campaign promises to the crypto industry, of which some figures donated directly to the then-presidential candidate or his inauguration fund after the Nov. 5 election.The commission’s actions — which include declaring that memecoins aren’t securities — also stand in stark contrast to its position under former chair Gary Gensler, leading many to speculate that the SEC under Trump will lead to a booming US crypto industry essentially free of regulatory scrutiny. Atkins, whom Trump picked in December 2024 and officially nominated after taking office, received support from industry players at Coinbase and Ripple, both of which had ongoing enforcement actions brought by the SEC. The cases have since been dropped.Given the SEC’s seeming about-face on crypto enforcement and Trump’s potential conflicts of interest with the industry — with ties to the crypto firm World Liberty Financial and the launch of his own memecoin — some lawmakers are likely to question Atkins’ views on digital assets at the confirmation hearing. If confirmed by the Senate, Atkins could return to a soon-to-be entirely Republican-controlled SEC, with Democratic Commissioner Caroline Crenshaw expected to leave by 2026.It’s unclear if Atkins will have the votes to pass a confirmation hearing in the banking committee or a full floor vote in the Senate. Republicans hold a 53-seat majority in the chamber with only 51 votes required to confirm a nominee, and — with the exception of former Representative Matt Gaetz for US Attorney General — have not suggested that they intend to oppose any of Trump’s picks for crucial government positions.Democratic opposition to Atkins’ nominationMassachusetts Senator Elizabeth Warren, the top Democrat on the banking committee who has often equated crypto with drug trafficking and other illicit actions, said in a March 23 letter to Atkins that she had concerns about his potential role at the SEC after his consulting firm, Patomak Global Partners, was an adviser to defunct crypto exchange FTX. He was also an adviser to the advocacy group Chamber of Digital Commerce. “Your deep involvement with FTX and other high-paying crypto clients raises questions about your approach to crypto regulation — and concerns about the extent of your knowledge of FTX’s illegal activities,” said Warren, adding: “Your financial ties to the industries you will soon regulate raise serious concerns about your ability to avoid conflicts of interest as a regulator.”Warren suggested that some members of the Senate would likely question Trump’s pick about the SEC recently dropping enforcement cases against crypto firms, reports that Trump’s family had held talks with Binance about acquiring a stake in the company as well as a possible pardon for former Binance CEO Changpeng Zhao, how Atkins intends to apply securities laws to digital assets if confirmed, and the commission’s recent opinion that memecoins were not securities. She hinted that Atkins may have also communicated with Republican SEC commissioners Uyeda and Hester Peirce after being nominated.Related: SEC is waiting for a chair before setting crypto agenda — Hester PeirceAhead of his hearing, Atkins has already met with Republican lawmakers on the committee, including Wyoming Senator Cynthia Lummis. Cointelegraph contacted Lummis’ office for comment on Atkins’ nomination but hadn’t received a response at the time of publication.If his nomination moves through the Banking Committee and the Senate, Atkins would likely be confirmed to a term ending in June 2031, taking over as chair from Uyeda. In addition to the commission dropping investigations and enforcement actions, the SEC acting chair has proposed abandoning rules requiring crypto firms to register with the agency.Magazine: Ripple says SEC lawsuit ‘over,’ Trump at DAS, and more: Hodler’s Digest, March 16 – 22
Published Date: 2025-03-24 18:00:01Creator: Cointelegraph by Turner Wright
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Bitcoin price pumps, but will BTC break $92K anytime soon?
Bitcoin (BTC) price surged by 3% on March 24, distancing from its $76,900 low on March 11 despite failing to sustain the $88,000 level. Now, traders are wondering what factors could drive Bitcoin's daily close above $92,000, which last occurred on March 3. Adding to cryptocurrency investors’ frustration, gold is trading just 1% below its record high of $3,057, while Bitcoin price trades 19% away from its all-time high.S&P 500 futures (left) vs. Bitcoin/USD (right). Source: TradingView / CointelegraphSome analysts attribute Bitcoin's recent price gains to the US-listed company Strategy increasing its BTC reserves, while others highlight macroeconomic factors, such as easing inflation expectations and a softer stance from US President Donald Trump on tariffs. Despite this constructive backdrop, traders question what is preventing Bitcoin from maintaining its bullish momentum.Bitcoin’s upside is limited as investors fear an economic recessionEconomists expect signs of a slowdown in the "core" Personal Consumption Expenditures (PCE) index, which is projected to rise by 2.7% in February, according to Yahoo News. This data, the US Federal Reserve's preferred inflation metric, is set to be released on March 26.Implied expectations for the Sept. 17 FOMC. Source: CME FedWatch tool / CointelegraphIf confirmed, the softer inflationary trend would support Federal Reserve Chair Powell's remarks on transitory inflation and increase the likelihood of two interest rate cuts in 2025, as reflected in the Treasury futures market.As the US central bank shifts to a less restrictive monetary policy, risk markets typically benefit from increased liquidity and reduced fixed-income appeal. However, uncertainty remains regarding economic growth.Investors are increasingly worried about recession risks due to excessive valuations in artificial intelligence stocks and concerns that US federal spending cuts could negatively impact consumers and the commercial real estate market. While these issues have little direct connection to Bitcoin, traders fear that all risk markets could suffer if the threat of stagflation emerges.The Wall Street Journal reported that President Trump is considering scaling back some tariffs initially planned for April 2. Although unconfirmed, the news suggests Trump may exclude certain industry-specific duties and grant exemptions to some nations. On March 24, S&P 500 futures rose 1.5% as investors perceived lower economic contraction risks, potentially supporting Bitcoin’s price gains.Strategy buys more Bitcoin, but is their tactic sustainable?On March 24, Strategy announced the acquisition of an additional $584 million in Bitcoin, increasing its holdings to 506,137 BTC. The funds for this latest purchase came from the sale of 1.97 million common stock shares, along with the broader $21 billion STRK perpetual preferred stock issuance program. These expanded fundraising options have improved the company’s chances of reaching its ambitious $42 billion Bitcoin acquisition target.While this news appears positive for Bitcoin’s price in the short term, if the US Federal Reserve implements expansionist measures, corporate earnings will likely accelerate, making stocks relatively cheaper. Likewise, a reduced risk of a full-scale global tariff war benefits the stock market and lowers risks in the artificial intelligence and commercial real estate sectors.Related: Bitcoin ‘more likely’ to hit $110K before $76.5K — Arthur HayesSource: DexyyDxCritics argue that Strategy has been the primary factor supporting Bitcoin’s $80,000 level, posing a risk of price corrections if the company fails to raise additional funds or pauses its stock issuance program for any reason. However, this view overlooks the fact that Bitcoin spot exchange-traded funds (ETFs) saw $786 million in net inflows between March 14 and March 21.In essence, Bitcoin is well-positioned to recapture the $92,000 level, although it remains heavily dependent on overall macroeconomic conditions. Regardless of gold’s performance, investors view Bitcoin as a risk-on asset, favoring a higher correlation with the stock market, at least in the short term.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Published Date: 2025-03-24 17:20:47Creator: Cointelegraph by Marcel Pechman
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Bitcoin must reclaim this key 2025 level to avoid new lows — Research
Bitcoin (BTC) neared $90,000 at the March 24 Wall Street open as analysis warned of “conflicting signs and signals.”BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewBTC price daily gains near 3% in risk-asset reliefData from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $88,772 on Bitstamp — its highest levels since March 7.Bitcoin followed stocks by opening the week higher after almost a month of sell-side pressure. The S&P 500 and Nasdaq Composite index were up 1.6% and 2%, respectively, at the time of writing.Commenting, trading resource The Kobeissi Letter explained the upside as a positive reaction to news that the US government was easing the severity of new trade tariffs set to become effective on April 2.It quoted sources reporting that “sector-specific tariffs” would emerge instead of blanket rules.“The S&P 500 is now up +75 points on the news,” it added.S&P 500 4-hour chart. Source: Cointelegraph/TradingViewCrypto market momentum had already gained thanks to rumors of the US potentially using gains on its gold reserves to purchase BTC.“If we actually realize the gains on [these holdings], that would be a budget-neutral way to acquire more Bitcoin,” Bo Hines, executive director of the President’s Council of Advisers on Digital Assets, said in an interview with the Crypto in America podcast last week.In his latest market analysis on March 24, Keith Alan, co-founder of trading resource Material Indicators, suggested that the news had not fallen on deaf ears.Despite the relatively modest BTC price uptick, he wrote in an X thread, “the announcement that the administration was considering selling Gold Reserves to buy Bitcoin certainly gave speculators some hopium.”“With gold in ATH territory, and BTC in a correction, this would be an opportune time to take some profit on Gold and buy Bitcoin,” he added.XAU/USD 1-day chart. Source: Cointelegraph/TradingViewBTC needs key support reclaim to avoid new lowsContinuing, Alan laid out two key prerequisites for sustained BTC price upside.Related: RSI breaks 4-month downtrend: 5 things to know in Bitcoin this weekThe 21-day simple moving average (SMA), currently at $84,674, as well as the 2025 yearly open at around $93,300, must both be reclaimed as support.BTC/USD 1-day chart with 21SMA. Source: Cointelegraph/TradingView“With conflicting signs and signals, how can we tell if Bitcoin is returning to a path to ATH territory or if this is a developing bull trap? The answer is knowing what your validation/invalidation levels are,” he explained.The yearly open, in particular, would be crucial, with Alan arguing that until it is reclaimed, “there is an increased likelihood that price will retest the lows.” “If/when that happens, I'll be buying those dips when buying resumes,” he concluded.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published Date: 2025-03-24 17:09:21Creator: Cointelegraph by William Suberg
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Tabit offers USD insurance policies backed by Bitcoin regulatory capital
Barbados-based insurer Tabit has raised $40 million in Bitcoin for its insurance facility, in a move the company said would bolster its balance sheet and allow the insurance sector to capitalize on digital assets. Tabit’s Bitcoin (BTC) regulatory capital will be used to back traditional insurance policies, which are all denominated in US dollars, the company disclosed in a March 24 announcement. Tabit claims to be the first property and casualty insurer to hold its entire regulatory reserve in BTC. The company was founded by former executives of Bittrex, a Liechtenstein-based cryptocurrency exchange that was shuttered in 2023.“This solution offers a regulated dollar return, which we’re excited to earn on an alternative asset class such as Bitcoin,” said William Shihara, Tabit’s co-founder. Tabit co-founder and CEO Stephen Stonberg said Bitcoin allows the insurance sector to “Access a largely new and untapped source of insurance capital: digital assets.” “Bitcoin means Tabit has access to a whole new pool of capital,” a company spokesperson told Cointelegraph. “BTC has limited regulated use cases where a hodler can earn a return, but insurance is one of them.”Tabit launched in January as a Bitcoin-backed insurer, receiving a Class 2 license from Barbados’ Financial Services Commission. VC Roundup: Bitcoin RWA, BNB incubator, Web3 gaming secure fundingBlockchain and the insurance sectorSo far, most of the discussion around cryptocurrency and insurance has been tied to helping users recover financial losses and using blockchain technology to improve the industry’s transparency. According to a 2023 report by Boston Consulting Group, the blockchain-insurance nexus could become a $37 billion opportunity by 2030.Behind the scenes, there’s also a growing industry for matching insurance brokers and underwriters with digital asset capital providers. One such company is Nayms, an onchain insurance marketplace that facilitates the connection between capital providers and brokers via segregated accounts.Ensuro is another such provider, which curates insurance market opportunities and provides underwriting capacity through the use of stablecoins. According to its website, Ensuro has over 12,000 active policies, with APYs up to 22%. Magazine: Best and worst countries for crypto taxes — Plus crypto tax tips
Published Date: 2025-03-24 16:25:46Creator: Cointelegraph by Sam Bourgi
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How high can XRP price go?
XRP (XRP) has dropped nearly 30% since hitting a seven-year high of $3.39 in January.Still, bullish news—like Ripple’s potential resolution in the SEC lawsuit and a new license in Dubai—has fueled a rebound. As of March 24, XRP was trading for as high as $2.47, up 38% from its year-to-date low of $1.79.XRP/USD daily price chart. Source: TradingViewHow high can the XRP price go from here? Let’s examine.XRP parallel channel projects $2.77 targetXRP is climbing within a rising parallel channel, showing signs of strength as it pushes toward a crucial resistance level.Key takeawas:XRP/USD has bounced after testing the channel’s lower trendline as support at around $2.37, aligning with the 50-4H exponential moving average (50-4H EMA; the red wave).XRP/USD four-hour price chart. Source: TradingViewThe pair is now eyeing a retest of $2.59—the 0.618 Fibonacci retracement level—which previously acted as a strong resistance capping the March 19 rally.A successful breakout above this resistance could see XRP testing the channel’s upper trendline, located near $2.77—coinciding with the 0.786 Fibonacci level.Related: XRP, Solana lead altcoin ETP inflows as Ethereum slumps — CoinSharesMarket analyst Dom emphasized that XRP must stabilize above $2.50, which aligns with its all-time high volume-weighted average price (VWAP), to sustain bullish continuation.XRP/USD four-hour price chart. Source: TradingView/DomThe Relative Strength Index (RSI) is trending above 60, indicating building bullish momentum without yet being in overbought territory.XRP symmetrical triangle breakout loomsXRP is flashing a major bullish signal on its higher timeframe chart, with price action coiling within a symmetrical triangle that suggests a breakout rally may be on the horizon.What to know:A symmetrical triangle forms when the price consolidates inside a triangle-like structure after a strong uptrend or downtrend.It typically resolves when the price breaks out in the direction of its previous trend, rising/falling by as much as the triangle’s maximum height.XRP/USD three-day price chart. Source: TradingViewThe triangle pattern formed after XRP’s 575% rally between November 2024 and January 2025, raising the prospects of further gains in the coming weeks.A successful breakout above the triangle’s upper trendline could send XRP’s price toward $4.20—up about 70% from the current price levels—by May.Analyst CrediBULL Crypto also suggests that XRP is gearing up for a new all-time high above $3.40 in the coming weeks.XRP liquidation heatmap shows $2.66-2.98 as next possible targetsThe Binance XRP/USDT liquidation heatmap reveals key liquidity zones where large liquidation events may occur. These levels act as magnet zones, influencing price direction based on the amount of liquidity at a given level.XRP/USDT one-month liquidation heatmap (Binance). Source: CoinglassKey points:A high concentration of liquidations is visible near $2.66, with the yellow area indicating a cluster of leveraged positions, suggesting it’s a key resistance level.If $2.66 level is broken, it could spark a liquidation squeeze, forcing short sellers to close positions and driving prices toward $2.98, the next major liquidity cluster.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published Date: 2025-03-24 15:35:36Creator: Cointelegraph by Yashu Gola
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Ethereum down 57% from its all-time high, but it’s still worth more than Toyota
Ether is trading at around half its all-time high price, but the Ethereum network is still valued higher than some of the world’s most prominent companies. Ether (ETH) traded at roughly $2,088 at the time of writing amid continued exchange-traded fund (ETF) outflows, down over 57% from its all-time high of nearly $4,900 set in mid-November 2021, according to CoinMarketCap data. Despite this decline, Ethereum maintains a market capitalization of nearly $252 billion, surpassing global corporations such as Toyota ($250 billion) and the total market value of the precious metal platinum ($245 billion).Other notable companies currently worth less than the Ethereum network include IBM, McDonald’s, General Electric, Shell and Disney. If Ethereum were a company, it would be the fiftieth largest in the world, just behind Nestlé, with its market capitalization of nearly $256 billion.Alex Obchakevich, founder of Obchakevich Research, told Cointelegraph that speculative interest significantly contributes to Ethereum’s valuation, as well as its “freedom from the financial framework of traditional finance.” He added:“Ethereum is about the future, about new financial technologies and solutions. The project is still very young and attracts many new and young investors who are ready to take risks. I believe that the average Zoomer will choose Ethereum for investment rather than Toyota or IBM shares.”Flavio Bianchi, a Polkadot ambassador and the chief marketing officer of the decentralized fundraising platform Polimec, told Cointelegraph that the comparison is less insightful than it might appear at first. He highlighted that “Ethereum isn’t a business” — it’s infrastructure. He explained:“Its value doesn’t come solely from revenue or profit but from usage and belief in its future role. It enables people to build, transact, issue assets and coordinate without intermediaries.”Obchakevich also suggested Ethereum became more attractive after it transitioned to proof-of-stake (PoS), reinforcing “its value as a deflationary asset with growth potential in the digital economy.”Related: ETH may reclaim $2.2K ‘macro range’ amid growing whale accumulationIs Ethereum a deflationary asset?Recent data from Ultra Sound Money shows that Ethereum is inflationary again, with an annual inflation rate of about 0.73% over the past 30 days.The rate of inflation or deflation is largely dependent on the ETH fees burned by the network and the amount of newly issued Ether. Fees have been burned on the network since the implementation of EIP-1559 in 2021, which, paired with decreased issuance after the PoS transition, resulted in Ethereum being deflationary during sustained network activity.IntoTheBlock data shows that on March 23, daily fees on Ethereum fell to a little over $337,000, the lowest value reported since June 2020. YCharts also shows that on March 23, there was only 118.67 ETH worth of fees, the lowest value reported this year.Ethereum network transaction fees per day. Source: YChartsOver the past 24 hours, ETH’s value rose nearly 3.5%, increasing its market capitalization by about $9.3 billion, now totaling approximately $252.1 billion. For comparison, this figure exceeds Greece’s gross domestic product (GDP), currently around $243.5 billion.Related: Ethereum eyes 65% gains from ‘cycle bottom’ as BlackRock ETH stash crosses $1BObchakevich highlighted that other than being worth more than Greece’s GDP, Ethereum’s market cap is also higher than the GDP of countries such as Slovenia and Croatia combined. He said this is more than a curious factoid:“For institutional investors, it is a sign of legitimacy. Ethereum is valued for smart contracts, and DeFi has a TVL [total value locked] of over $124 billion, seeing it not only as speculation but as the infrastructure of the future.”Pradeep Singh, CEO of enterprise privacy and security infrastructure firm Gateway FM, told Cointelegraph that these numbers reflect “a fundamental shift in how we value digital infrastructure”:“What we’re witnessing is a growing recognition that significant portions of the global economy will eventually migrate to this infrastructure. Ethereum’s market capitalization is essentially pricing in its future role as the settlement layer for everything from financial services to supply chain management.”The Ethereum protocol continues to evolve as developers introduce innovations such as native rollups, further expanding the blockchain’s capabilities and potential use cases.Magazine: MegaETH launch could save Ethereum… but at what cost?
Published Date: 2025-03-24 15:33:33Creator: Cointelegraph by Adrian Zmudzinski
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