Crypto World
A loophole for rewards could protect Coinbase from a looming D.C. ban on stablecoin interest payments
If lawmakers ultimately ban stablecoin rewards under the proposed CLARITY Act, Coinbase (COIN) could lose one tool it uses to attract users to hold digital dollars on its platform — though analysts say the impact on the exchange’s business may be limited.
As lawmakers debate the future of stablecoin regulation in Washington, one unresolved question in the proposed CLARITY Act could have significant implications for Coinbase and other stablecoin partners’ business model: whether companies will be allowed to share yield with stablecoin holders.
The bill, which has been stalled in Congress since January, seeks to establish a regulatory framework for stablecoins — digital tokens typically pegged to the U.S. dollar. A central point of contention is whether crypto firms should be allowed to pass through the yield earned on the reserves backing those tokens. Banks and some lawmakers have pushed to prohibit interest payments, while crypto companies, including Coinbase, have argued that restricting rewards would undermine stablecoins’ utility and competitiveness.
However, this week there were some glimmer of hope from D.C. One possible deal may be that stablecoin issuers and their partners tweak the language of their offerings to make them sound distinct from bank deposits, Senator Cynthia Lummis said Wednesday.
Read more: Key U.S. senator on crypto market structure bill negotiation: ‘We think we’ve got it’
Still, for Coinbase, the issue matters because stablecoins, particularly USD Coin (USDC), have become an important source of revenue and user engagement.
Under the CLARITY Act’s current draft, stablecoin issuers would be barred from paying interest directly to holders. But according to one industry source familiar with the legislation who didn’t want to be named, the language leaves room for alternative structures that could still allow rewards to reach users.
“There are so many loopholes in the CLARITY Act when it comes to stablecoin yields that the genie is kind of out of the bottle already,” the source told CoinDesk. While the bill prohibits issuers from paying interest, it does not clearly ban exchanges or platforms from distributing incentives such as rebates, credits or other rewards.
The distinction between “interest” and “rewards” is thin, the source added. Marketing incentives or loyalty programs could effectively replicate the economic impact of yield while technically remaining compliant. That echoes similar debates around guidance tied to the GENIUS Act, where the line between restricting yield and shaping how it can be distributed through partners remains unclear.
Another provision in the bill may further complicate enforcement. The legislation contains a carveout for payments tied to activity — meaning yield could potentially be distributed if a stablecoin is used in transactions, lending or other financial activity. In practice, that could allow structures where stablecoins are routed through decentralized finance protocols to generate returns before those rewards are passed on to users.
Even partnerships between issuers and exchanges could potentially achieve a similar result. For example, an issuer could earn yield on Treasury reserves, share some of that revenue with an exchange partner and have the exchange distribute rewards to users — an arrangement that regulators have warned might constitute evasion but that is not explicitly banned in the bill’s current form.
“It feels like even a mediocre marketing professional could come up with several creative structures that would be compliant,” the source said.
Not ‘existential’
Wall Street analysts say that the debate has implications for Coinbase but is unlikely to threaten the company’s broader business model.
Owen Lau, an analyst at Clear Street, said the ability to share stablecoin yield is only one of many ways the company attracts users to its platform.
“It’s important, but it’s not even close to existential,” Lau said. Coinbase already generates revenue from trading, derivatives and its Base blockchain ecosystem, and many users come to the platform for services beyond stablecoin rewards.
In 2025, transaction revenue remained the exchange’s main source of revenue, though stablecoin revenue had increased exponentially from the year prior, bringing in $1.35 billion in 2025 compared to $910 million in 2024, making it the second-largest driver of revenue, according to a recent filing.
Coinbase, however, takes a slightly different view on this debate.
“Ironically, if a crypto rewards ban went into law, it would make us more profitable since we payout large amounts in rewards to our customers holding USDC,” Coinbase CEO Brian Armstrong wrote in a post on X in February. “But we don’t want this to happen, it’s better for customers to get rewards, and it’s better for the US to keep regulated stablecoins competitive on a global stage.”
Stablecoin incentives do play a strategic role, however.
Clear Street’s Lau said Coinbase benefits when customers keep USDC on its platform because the company can capture the full share of yield generated by the reserves backing the token. If users move those assets to external wallets or decentralized platforms, Coinbase may receive only a portion of that revenue.
“If they cannot give enough incentive to customers, these people may move USDC away from Coinbase wallets,” Lau said, which could reduce the company’s share of stablecoin-related income.
At the same time, the near-term financial impact may be limited. Lau noted that Coinbase largely passes stablecoin yield through to users, meaning the revenue is often offset by expenses.
“From an earnings perspective, it actually doesn’t change much,” he said, adding that the bigger question is whether restrictions could slow the long-term growth of USDC adoption.
If the final rules allow activity-based rewards or loyalty-style incentives, Lau said Coinbase could still use those programs to encourage customers to hold and use USDC on its platform, potentially driving higher market capitalization for the stablecoin and increasing the revenue Coinbase shares with Circle.
For now, the outcome remains uncertain as lawmakers continue negotiating the bill’s language.
But even if strict limits on yield survive, analysts and industry participants say crypto companies are likely to adapt, ensuring that stablecoins remain a competitive feature of the digital payments ecosystem.
Shares of Coinbase are down about 12% year to date, while bitcoin is down 19%.
Key Takeaways
- Opera proposes replacing cash arrangement with 160M CELO token allocation
- Request represents approximately 27% of current circulating supply
- MiniPay’s 14M+ registrations justify expanded network participation
- Voting power capped at 10% to preserve decentralized governance structure
- Strategic pivot reflects Opera’s deepening commitment to blockchain payments
Opera Limited (OPRA) stock traded around $14.40 following a minor pullback, while the browser company unveiled plans for a substantial cryptocurrency arrangement with Celo. The firm has submitted a governance request to exchange its existing cash-based agreement for a significant token position. This transition could establish Opera among Celo’s most influential network participants.
Browser company transitions from cash payments to long-term token ownership
Opera has presented a formal governance petition requesting 160 million CELO tokens distributed across a three-year timeline. The arrangement would eliminate quarterly cash disbursements in favor of direct token ownership. This structural change creates stronger alignment between Opera’s financial interests and the blockchain’s success.
The proposed allocation accounts for approximately 27% of CELO’s currently available circulating tokens. Additionally, it comprises roughly 16% of the cryptocurrency’s maximum capped supply. The substantial size of this request demonstrates Opera’s intention to establish a meaningful presence within the ecosystem.
CELO was trading near $0.07 during reporting hours, significantly below its 2021 all-time highs. Despite current valuations, the token allocation provides considerable upside potential should market conditions improve. Consequently, Opera’s strategy balances forward-looking opportunity with present-day market realities.
Decentralization safeguards and treasury mechanics structure token distribution
The governance proposal details a single transfer from Celo’s unreleased token reserves to an Opera-managed wallet. This arrangement formalizes the browser company’s transition to long-term ecosystem participant. The mechanism replaces ongoing payments with consolidated token ownership.
The framework restricts Opera’s governance participation to maximum 10% of total staked CELO under standard circumstances. This limitation safeguards the network’s decentralized decision-making processes. Emergency situations may permit temporary adjustments to these restrictions.
Token holder consensus remains essential before implementation, as community members will evaluate the proposal through established governance procedures. Stakeholder feedback will determine whether the allocation magnitude receives approval. The final decision will establish Opera’s authority and influence within Celo’s governance framework.
Wallet platform success drives Opera’s strategic positioning within payment network
Opera grounded its token request in MiniPay’s demonstrated performance, its self-custody digital wallet developed on Celo infrastructure. The application enables peer-to-peer stablecoin transfers using simple phone number identification. It further accommodates regional payment systems across diverse geographical markets.
MiniPay has accumulated over 14 million user registrations following its 2023 introduction. The platform has facilitated more than 420 million transactions spanning across 66+ countries worldwide. These metrics underscore its significance in generating network engagement and activity.
Opera intends to enable over 50 million users to convert rewards into USDT directly through MiniPay. This feature integration may accelerate wallet adoption and transaction throughput. Through these developments, Opera reinforces both operational and economic ties with Celo.
Opera shares registered near $14.60 during recent trading following a modest decline. The organization continues broadening its cryptocurrency involvement through product development and direct token ownership. The pending agreement could fundamentally transform its standing within blockchain-powered payment systems.
- Zcash price was down nearly 10% in the past 24 hours.
- The ZEC token changed hands at around $239 as bulls risk a key support level.
- Is the dip a healthy consolidation move or the start of a deeper correction?
Zcash (ZEC) pulled back sharply on Thursday, falling nearly 10% in intraday performance as the surge to a multi‑month high near $280 risked fading.
The privacy coin traded to lows of $239, with the retreat coming amid a broader risk‑off shift in crypto markets.
Profit‑taking across the board means ZEC’s recent breakout could fuel bears’ move towards a key psychological support at $230.
Can bulls hold onto support levels, or is Zcash price poised for an even deeper correction?
Why is the Zcash price down today?
Zcash’s slide from the $280 level reflects a combination of several short‑term factors.
Broadly, it’s the investor jitters around the global macro and geopolitical environment.
Bitcoin, for instance, is struggling to hold gains above $70k, and a similar outlook is engulfing top altcoins, including Ethereum, Solana, BNB, and XRP.
A key perspective is the profit‑taking amid heightened macro uncertainty.
ZEC outlook amid key network growth metrics
Zcash price has shown resilience amid interest in privacy coins, with a recent spike to $280 aligning with this sentiment amid Zodl’s milestone.
Despite the pullback to $239, bulls remain positive as on-chain metrics outline notable network growth.
For instance, Zcash’s hashrate has hit a new all-time high of 16.54 GS/s.
Meanwhile, shielded supply has climbed to 5.15 million ZEC, accounting for roughly 31% of the coin’s circulating supply.
A surge in shielded supply indicates growing demand for private transactions.
Importantly, a sizable portion of ZEC is off crypto exchanges, which signals a long-term bullish view.
The robust network security and increased interest in privacy-focused transactions offer a two-pronged approach to adoption, and could boost ZEC price.
Zcash price technical picture
From a technical standpoint, ZEC’s daily chart points to a mixed outlook with oscillators and moving averages leaning neutral-to-towards selling.
The current structure suggests risk appetite could allow for a clean breakout to $300.
In this case, bulls must flip $240 into a major support base, with the 50 EMA at $262 crucial.
Further upside movement will bring the 200 EMA ($281) into view.
Above these levels lie $300 and the 100 SMA at $339, which could be a key resistance zone as bulls eye the $500 target.
Zcash’s sharp pullback after the spike to $280, therefore, provides bulls with an opportunity to pump amid a shakeout of weak hands.
However, if short‑term selling gains momentum amid broader crypto weakness, the coin’s price could fall to $206 and then $185.
Security researchers have raised concerns about a Coinbase-associated Commerce page that appeared to prompt users to enter wallet recovery phrases, warning that such a flow could normalize behavior commonly exploited in phishing scams.
The page has circulated widely on social media after being flagged by the founder of the blockchain security platform SlowMist, Yu Xian, widely known as Cos.
“I’m really puzzled why Coinbase would have a page like this, directly asking users to input their plaintext mnemonic phrases for asset recovery,” Yu wrote in an X post on Wednesday, adding: “Such an insecure practice is simply unbelievable.”
Coinbase has yet to address the issue publicly. The company told Cointelegraph it was looking into the matter and did not provide additional information. Cointelegraph also approached Yu Xian for comment, but had not received a response by publication.
Recovery phrases give full control over a self-custody wallet and should never be shared with third parties, customer support agents or untrusted websites. They are normally used only in trusted wallet recovery or import flows.
Coinbase referred to the subdomain as a commerce “withdrawal tool”
According to blockchain sleuth ZachXBT, the page in question was referenced in a Coinbase Help guide related to its Commerce product.
The guide, now appearing to have been removed, reportedly outlined an option for users to recover funds by importing their seed phrase into a compatible wallet such as Coinbase Wallet or MetaMask. It also directed users to a withdrawal tool hosted at the same subdomain that has drawn scrutiny.
The help documentation also emphasizes that Commerce wallets are self-custodial, meaning Coinbase does not have access to users’ seed phrases and cannot recover funds if they are lost.
Related: OpenClaw devs targeted by phishing scam promising free ‘CLAW’ tokens
“So basically Coinbase has an official page live threat actors can use to target Coinbase users via seed phrase social engineering if they wanted?” ZachXBT wrote on X.
Coinbase advises against pasting seed phrases into any website
It remains unclear whether the page in question was the result of a technical error or another issue on Coinbase’s side.
In another guide, Coinbase strongly advised users to never paste seed phrases into any website.
On Tuesday, Coinbase warned that scammers are posing as customer support over the phone or online to steal login information and verification codes. The company said it will never reach out, directing users to its official channels on X and Reddit.
Magazine: Bitcoin’s ‘narrative vacuum,’ Ethereum now inevitable: Trade Secrets
Bitcoin’s price was heavily rejected at $76,000 a couple of days ago, and the correction accelerated today. The cryptocurrency is now trading below $70,000, sending the entire market sentiment to extreme fear.
Major altcoins like Ethereum and Ripple’s XRP are also on the downside, both losing important support levels.
Amid these dwindling market conditions, Playnance’s newly launched native token, GCOIN, is eyeing an impressive milestone.
Bitcoin’s Price Corrects Heavily
The leading cryptocurrency was trading at around $74,00 last Friday when the bears were able to intercept the movement and pushed it south toward $70,000 during the weekend. This happened after the most recent bombings that took place in the Middle East. The good news was that it was able to maintain this level, allowing for the buyers to return in force.
The retaliation took place on Tuesday morning, when the BTC price exploded to a price that we hadn’t seen in around six weeks at $76,000.
As you can see on the chart, though, the momentum was anything but sustained. Although the price remained near the local highs on Wednesday, more volatility occurred in the hours leading up to the highly anticipated FOMC meeting. The US Federal Reserve announced that it wouldn’t change the interest rates – an entirely expected outcome.
Unfortunately, the markets responded negatively, perhaps driven by rising geopolitical uncertainty, and BTC plunged to $71,000 almost immediately upon the announcement’s public release.
Today, the price fell further, and it’s currently trading in the mid $69,000s. Most altcoins also suffered, as it can be seen in the heatmap below.
The entire thing resulted in more than $500 million in liquidated positions, as well as the broader market returning to a state of extreme fear. But it’s these conditions that can also serve well for projects with solid foundations.
PlayNance’s GCOIN Eyes $100M FDV
Launched yesterday, GCOIN, the native cryptocurrency of the PlayNance ecosystem, is already turning heads. At the time of this writing, GCOIN boasts $80 million in fully diluted valuation, less than 24 hours since its token generation event.
Moreover, the locked supply currently stands at more than 3.2 billion tokens, while another 1.3 billion are staked, effectively removing more than 10% of the circulating supply from the market. This reduces selling pressure while also showing conviction in the project’s fundamentals.
The cryptocurrency boasts an impressive user base of more than 200,000 holders, trading on the popular MEXC exchange.
GCOIN is the native utility token that powers the entire PlayNance ecosystem. It’s designed for the Web3 gaming and entertainment infrastructure of the protocol, enabling real-time on-chain interactions through many platforms and digital experiences.
Already, the PlayNance ecosystem powers an average of 1.5 million on-chain transactions every single day, all executed using GCOIN as the settlement and utlity layer. The token might be trading for a day, but its ecosystem has been shaped and honed for the past five years, already catering to a plethora of users and developers.
Those who want to get in on the action early can find more information about GCOIN here.
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Crypto World
Cheniere Energy (LNG) Stock Soars to Record High Amid Hormuz Crisis and Thai Contract Boost
Key Highlights
- Cheniere Energy (LNG) reached a record intraday peak of $267.24 on March 18, finishing the session up 5.85% at $266.22.
- Natural gas prices climbed 5.59% to $3.20/MMBtu amid ongoing Strait of Hormuz disruptions, marking a 6.90% March gain.
- Thailand’s government confirmed plans to increase its long-term LNG purchase from 1 million tons to 1.3 million tons annually.
- The enhanced Thailand agreement extends through 2041, securing a 15-year revenue stream.
- The company recently announced a $10 billion stock repurchase program following record-breaking quarterly results.
Cheniere Energy posted a historic trading session on Wednesday, March 18, propelled by geopolitical supply constraints and confirmation of an expanded commercial agreement with Thailand.
Shares of the LNG export leader touched an all-time intraday high of $267.24 before closing at $266.22, marking a single-day advance of 5.85%. The stock has now climbed approximately 30% since the start of the year.
This surge aligns with broader momentum in the natural gas market. Spot prices for natural gas increased 5.59% during the session, reaching $3.20/MMBtu. Month-to-date, natural gas has appreciated 6.90%.
The primary catalyst remains the ongoing blockage of the Strait of Hormuz — a vital chokepoint for global energy transportation. This disruption is constricting worldwide LNG availability and driving demand toward American export facilities like those operated by Cheniere.
Thailand Secures Expanded LNG Supply Agreement
Early this week, reports surfaced that Thailand is negotiating to both expand and accelerate LNG shipments under its existing long-term arrangement with Cheniere.
Thailand’s Energy Minister Auttapol Rerkpiboon verified that the nation is boosting its annual LNG commitment from 1 million tons to 1.3 million tons. Initial shipments under the revised terms are scheduled to commence in the second quarter of 2026.
The contract maintains its duration through 2041 — providing Cheniere with guaranteed demand for the next decade and a half. Thailand’s motivation stems from securing reliable energy supplies for its electricity generation infrastructure.
These types of extended, firm-commitment contracts represent the cornerstone of Cheniere’s revenue model.
Robust Financial Performance Underpinning Rally
Cheniere entered this week from a position of financial strength. The enterprise recently unveiled a $10 billion share repurchase authorization and delivered quarterly earnings that exceeded analyst projections.
These financial results bolstered investor sentiment as geopolitical uncertainties intensified. The convergence of earnings outperformance, shareholder capital allocation, and constrained global LNG availability has positioned Cheniere as a preferred investment vehicle for those seeking natural gas exposure.
Technical analysis indicates a “Strong Buy” rating for the stock, with current market capitalization hovering around $52.87 billion.
Typical daily share volume averages approximately 2.1 million, though high-momentum sessions like Wednesday often attract increased participation from trend-following traders.
The stock’s nearly 30% year-to-date appreciation significantly outpaces broader equity market indices.
With the Thailand contract nearing finalization and Hormuz shipping disruptions persisting, Cheniere approaches the remainder of March supported by multiple positive catalysts.
Is BTC yet to feel real pain during this market cycle?
After a solid multi-day run, the primary cryptocurrency lost momentum again, dipping below $70,000.
Numerous analysts caution that the bears still control the market, expecting much more substantial price declines in the near future.
Where’s the Bottom?
The recent FOMC meeting, and especially Chairman Jerome Powell’s subsequent speech, poured cold water on BTC, which earlier this week touched $76,000 for the first time since the beginning of February.
Recall that America’s central bank kept interest rates unchanged for the second consecutive time this year, whereas Powell said the stubborn inflation remains an issue for the local economy. He also outlined the military conflict in Iran, describing the rising price of petrol as another hurdle.
His comments were unfavorable to the cryptocurrency market, whose total capitalization once again slipped below $2.5 trillion. As for Bitcoin, its valuation temporarily fell to as low as $69,500 and currently struggles to remain above that line.
Several analysts have weighed in on BTC’s performance, noting similarities between its recent price action and past cycles. X user Ted pointed out that the current structure closely mirrors the pattern seen in 2022, which ultimately led to a drop to around $16,000. If that historical parallel plays out again, he warned that the price could slip under $50K in the near term.
The analyst who goes by as bee on the social media platform outlined an analogous thesis. They suggested that BTC’s resurgence to nearly $76,000 has been a “fakeout” and bull trap, claiming that “we are still in a bear market” and the valuation could plummet to as low as $46,760 in the coming months. Leshka.eth joined the pessimists’ club, predicting a pullback to almost $53,000 sometime this summer.
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The Bullish Case
However, it’s not all doom and gloom, as some key indicators signal BTC may experience another significant revival soon. For instance, whales snapped up 40,000 units in a matter of a single week, potentially positioning themselves for the next leg up. At the same time, spot Bitcoin ETFs have seen strong inflows, suggesting growing institutional demand.
The amount of coins sitting on crypto exchanges should also be mentioned. The figure has been gradually decreasing lately, and earlier today (March 19) dropped to a new six-year low of approximately 2.723 million. This means that many investors continue to abandon centralized platforms and move their holdings to self-custody, thereby reducing immediate selling pressure.
Meanwhile, some analysts, such as Ali Martinez, expect a significant price boom based on the formation of certain setups. Just a few days ago, he noted that BTC’s funding rates have turned negative, and in the past, that has always been a precursor of a “major relief rally.” Martinez reminded that in August 2023, such a development was followed by a whopping 176% price increase for BTC.
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Elon Musk has once again taken to X to share a post about Dogecoin, mimicking one of the most famous scenes from the blockbuster movie “The Godfather.”
Summary
- Elon Musk shared a Dogecoin-themed AI video inspired by The Godfather, generating over 18 million views and high engagement on X.
- Dogecoin price showed little reaction, trading around $0.093 and remaining nearly 40% below its yearly high amid broader market weakness.
In a March 19 X post, the X owner and a long-time advocate of the world’s leading meme coin Dogecoin, Musk shared an AI-generated video from the parody X account Sir Doge of the Coin.
In the video, Musk was seen dressed in a black tuxedo with a Shiba Inu dog while seeming to mimic a famous scene played by Marlon Brando as the character Vito Corleone from the classic movie “The Godfather.”
“You come to me on the day of my doge’s wedding, and you ask me for my private key. Are you even a friend? You don’t even think to call me the dogefather,” the AI-generated avatar of Musk said.
At press time, the video had gained over 18.4 million views, 64,000 likes, and over 6,800 retweets, showing the sheer scale of engagement by the crypto community.
The tech tycoon has long been known to advocate Dogecoin, with his social media posts on the meme coin historically triggering massive volatility in Dogecoin (DOGE), often referred to as the “Musk Effect.”
In his past antics, he even once briefly turned the Twitter blue bird logo into the Shiba Inu (Doge) meme for several days. DOGE soared over 30% at the peak of the frenzy. When the logo was changed back three days later, the price dropped by roughly 9%.
However, the most memorable event would be his Saturday Night Live (SNL) Appearance at the peak of the 2021 bull run, where he called himself the “Dogefather” in promos, but jokingly referred to DOGE as a hustle during a sketch. Dogecoin price shot up to an all-time high of $0.73 just before the show. However, it came crashing down nearly 30% to 40% during the broadcast.
This time, Dogecoin’s price has not yet shown any positive momentum following the latest post. Trading at $0.093, the meme coin has fallen over 3.2% as observed at press time. The 10th largest crypto asset in the market has fallen nearly 40% from its year to date high and 87.2% from its all-time high.
Momentum indicators like the MACD and RSI suggest that the meme coin could extend its downtrend, especially since risk-on sentiment is withering amid ongoing geopolitical and macroeconomic uncertainty.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
XRP is trying to build a short-term recovery, but the broader trend still leans cautious. The recent bounce has improved momentum on both pairs, yet the price is still trading beneath major trend-defining resistance levels. In other words, sellers are no longer fully in control of the very short term, but buyers have not done enough to claim a real trend reversal either.
XRP/USDT Analysis: The Daily Chart
On the XRP/USDT chart, the asset has pushed back toward the mid-$1.40s after defending the $1.10 to $1.20 demand zone earlier this month. That rebound matters because it keeps XRP off the lows and lifts RSI back into a healthier range, but the price is still stuck inside the descending structure and below the first major supply band around $1.75 to $1.80.
That leaves XRP in a tricky spot. The current move looks constructive, but it still resembles a relief rally inside a larger downtrend rather than a clean breakout. If buyers can force a reclaim of the $1.75 to $1.80 region, the door opens toward the much heavier $2.40 to $2.50 resistance area. But the price would also need to climb above both the 100-day and 200-day moving averages to reach this area. Until then, the bounce is not decisive.
XRP/BTC 4-Hour Chart
The XRP/BTC pair is telling a similar story. After repeatedly holding the 2,000 sats area, XRP has started to recover a bit and is now pressing back above that support zone. Momentum has improved, and the pair no longer looks as weak as it did during the recent dip, though it is still trading under both the 100-day and 200-day moving averages.
For the BTC pair, the first task is to turn this rebound into follow-through. A push through the 2,100 to 2,200 sats area would be a good start, and lead to a breakout above both key moving averages. But the real test remains higher at 2,400 to 2,500 sats, where layered resistance and the broader downtrend line converge. If XRP gets rejected before that, the market likely falls back into the same sideways-to-bearish range. However, if it breaks through, the tone shifts from simple stabilization to genuine recovery.
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Bitcoin has continued to trade in a precarious zone after months of relentless selling pressure from the October 2025 highs above $125K. The asset is currently hovering below $70,000, attempting to stabilize after a dramatic downtrend, but several technical and on-chain signals suggest the battle between buyers and sellers is far from over.
Bitcoin Price Analysis: The Daily Chart
Looking at the daily timeframe, the broader picture remains firmly bearish. BTC has been trapped inside a descending channel since its peak above $125K, printing a consistent series of lower highs and lower lows. The asset is now trading well below both the 100-day and 200-day moving averages, which are acting as dynamic resistance overhead. The 200-day MA sits around $92K, and the 100-day near $80K, both far above the current price.
The daily RSI has recovered from deeply oversold territory, currently oscillating around the midline. A key horizontal support zone between $58K and $62K (highlighted in blue) held during the February capitulation wick, and that area remains the most critical floor to watch. For any meaningful reversal, however, the market would need to reclaim the $75K–$80K zone, which also aligns with the descending channel’s upper boundary.
BTC/USDT 4-Hour Chart
Zooming into the 4-hour chart, a more constructive short-term structure emerges. Since the early February lows near $60K, BTC has been forming an ascending channel pattern with higher lows, supported by a rising trendline. Yet, the price recently tagged the upper resistance near $75K before facing a decisive rejection and pulling back sharply toward $70k.
The area between $74K and $76K has acted as a stubborn supply zone, rejecting multiple attempts to break higher. The 4-hour RSI has also cooled off from overbought conditions and now sits below the 40 level, indicating a change in momentum to relatively bearish. A confirmed break below the rising trendline (~$66K) would likely accelerate selling toward $60K, while a push above $75K could trigger a squeeze toward $80K, and change the market outlook to bullish in the short-term.
On-Chain Analysis
The Exchange Whale Ratio, measuring the proportion of large transactions relative to total exchange inflows, has shown a notable spike in recent weeks. After months of relatively subdued whale activity during the prolonged downtrend, the ratio has jumped sharply from around 0.45 to above 0.6, signaling that large holders are becoming more active on exchanges.
Historically, sharp increases in this metric have coincided with periods of heightened volatility, as whales tend to move coins to exchanges either to sell or to reposition. The current uptick, combined with the price hovering near a technically sensitive zone, suggests that big players are preparing for a decisive move. Whether this translates into distribution (selling) or accumulation at these levels will likely determine BTC’s direction in the coming weeks.
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- Bittensor price is trapped between key support and strong resistance levels.
- Momentum is cooling, hinting at either consolidation or a drop.
- A break above $300 or below $250 will decide the next major move.
Bittensor (TAO) had shown strong bullish movement for the better part of the year before hitting a snag on March 16.
That rejection triggered a sharp pullback that erased part of the recent gains.
The cryptocurrency has now entered a tense phase, with analysts trying to determine whether the current weakness is a healthy pause or the start of a deeper decline.
Key technical levels shaping the market
Bittensor is currently trading within a well-defined range that has formed over recent price swings.
The upper boundary sits near the $282 to $300 zone, where multiple attempts to break higher have failed.
This area has consistently acted as a ceiling and has attracted strong selling pressure.
A clean move above $282 would shift the market sentiment quickly, signalling renewed strength and possibly opening the path toward $313.
Beyond that, $357 remains a longer-term target if momentum continues to build.
On the downside, the market has shown repeated reactions around the $250 region.
This level aligns closely with a key Fibonacci retracement zone and has become a critical support area.
Below that, analysts note that $168 stands out as another important level where buyers have previously stepped in.
Accumulation or correction?
The current structure presents two clear possibilities. The first is a controlled pullback that leads into accumulation.
In this scenario, the price stabilises between $230 and $250 as larger participants gradually build positions.
This type of behaviour often appears after strong rallies and helps reset momentum.
The second scenario is a deeper correction that extends below current support levels.
This would indicate that selling pressure is stronger than expected and that buyers are not yet ready to defend higher prices.
A breakdown below $233 would strengthen this view and likely accelerate downside movement.
Market indicators currently suggest that momentum is cooling, with the Relative Strength Index (RSI) moving down from overbought levels, signalling a loss of upward pressure.
While this does not confirm a trend reversal on its own, it does suggest caution in the short term.
The bigger picture
Despite the recent weakness, Bittensor continues to stand out due to its underlying purpose.
The network is built around rewarding useful artificial intelligence, creating a system where performance determines value.
This gives the project a foundation that is different from many speculative assets.
Price action often moves ahead of fundamentals, and this appears to be one of those moments.
The market is currently adjusting after a strong run, and this adjustment could take time.
However, whether this turns into accumulation or further decline will depend on how the price behaves around key levels in the coming days.
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