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Bitcoin’s Price Slips Below $70K, but GCOIN by Playnance Eyes $100M Milestone

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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.

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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.

BTCUSD_2026-03-19_16-15-31
Source: TradingView

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.

Screenshot 2026-03-19 162011
Source: Quantify Crypto

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.

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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.

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Those who want to get in on the action early can find more information about GCOIN here.

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Crypto World

Masterclass in OTC Liquidation: How Bhutan Moved $72M Bitcoin Without Moving the Price

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Masterclass in OTC Liquidation: How Bhutan Moved $72M Bitcoin Without Moving the Price

Bhutan just moved $72.3 million worth of Bitcoin to Binance. 929 BTC sent Tuesday morning while Bitcoin price consolidated near $71,000.

Most sovereign sell-offs hit the order book hard. This one barely registered. Price did not move.

That silence is the entire story. Bhutan is not just a Bitcoin miner anymore. It is actively managing an institutional-grade portfolio. And the market absorbed nearly $73 million in supply without flinching.

Key Takeaways:

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  • Bhutan transferred 929 BTC ($72.3M) to Binance deposit wallets.
  • Price impact was negligible due to probable OTC execution.
  • DHI still holds approximately 12,574 BTC in reserves.

How Do You Sell $72M in Bitcoin Without Crashing the Price?

Dumping 929 BTC on a standard spot order book wipes out buy support instantly. Price crashes. That is what unsophisticated sellers do.

Bhutan did not do that.

Source: Arkham

By routing through Binance, Druk Holding and Investments almost certainly used an OTC desk. Large block trades get matched with institutional buyers privately. The transaction settles off the public order book entirely. Market makers absorb the risk themselves and quote a fixed price for the block.

The coins change hands. The seller gets stablecoins. The retail chart never sees a red candle.

This is textbook institutional execution. And it signals that sovereign crypto entities are operating at a completely different level than they were even two years ago.

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Did Bhutan’s Sale Move Bitcoin Price? Here Is What the Data Shows

Bitcoin did not move during the transfer window. Zero unusual sell pressure on Coinbase orderbooks. The liquidity was sourced externally or netted internally by Binance.

Arkham Intelligence confirmed funds cleared directly from DHI wallets into Binance hot wallets. Bhutan’s total BTC outflows have exceeded $114 million in recent weeks.

Bitcoin (BTC)
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This is hedge fund level execution. Active market makers managing yield and liquidity instead of panic dumping into thin order books.

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The market has absorbed it cleanly. But Bhutan still holds roughly $886 million in Bitcoin. If that starts moving with the same frequency, the real stress test begins.

Discover: The best new crypto in the world

The post Masterclass in OTC Liquidation: How Bhutan Moved $72M Bitcoin Without Moving the Price appeared first on Cryptonews.

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Bitcoin Faces Little Chance of Holding Its 200-Week Moving Average for Long

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Bitcoin Faces Little Chance of Holding Its 200-Week Moving Average for Long

Bitcoin (BTC) price support could “fail” by the weekly close in a major blow to Bitcoin bulls, analysis warns.

Key points:

  • BTC price downside versus local highs at $76,000 nears 10%.

  • Bitcoin brings its 200-week trend line back into focus, but little hope remains that it will rescue price.

  • A trader warns of “months” of ranging at current levels.

200-week BTC price trend line “unreliable”

In his latest X update on Thursday, crypto trader and analyst Rekt Capital brought a long-term BTC price trend line back into focus.

The 200-week exponential moving average (EMA) for BTC/USD, currently at around $68,300, is coming in for its first retest in over a week.

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“Bitcoin is pulling back in towards the 200-week EMA (black) to check if it can successfully turn the EMA into new support after having broken it as resistance last week,” he summarized.

The 200-week EMA has long been on the radar for traders. Along with its equivalent simple moving average (SMA) near $59,000, it forms a key support band for price as Bitcoin’s latest bear market takes shape.

BTC/USD one-week chart with 200 EMA, 200 SMA. Source: Cointelegraph/TradingView

BTC/USD has crisscrossed the 200-week EMA multiple times in 2026, but its significance remains.

“A successful retest of the EMA would fully confirm the breakout beyond it to enable future trend continuation to the upside and further build on this Macro Relief Rally,” Rekt Capital continued.

“However, it is important to consider whether Bitcoin could fail this upcoming retest into new support, in the same way price failed to bearish retest the 200 EMA into new resistance before.”

BTC/USD one-day chart with 200-week EMA. Source: Cointelegraph/TradingView

The post describes the EMA as “unreliable” thanks to price crossing both above and below it with ease.

“A Weekly Close below the 200 EMA would mean that price failed its upcoming retest to in turn strengthen the case for the EMA acting as unreliable support,” Rekt Capital concluded.

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Bitcoin trader: Current range could last “months”

The current low-time frame BTC price trading range contains multiple important lines in the sand.

Related: $58K BTC price still in play? Five things to know in Bitcoin this week

Bitcoin’s old all-time high from 2021 is at $69,500, while its 2025 lows currently mark the start of overhead resistance at $74,500.

So far, bulls have been unable to clear sellers and continue past $76,000, and many market participants expect new macro lows to come as a result as price retreats by nearly 10%.

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Updating X followers on his thoughts, trader Roman, long entertaining a trip to $50,000 or lower, said that price may form a frustrating sideways range first.

“It’s very possible we range here for months,” he warned.