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Bitcoin clings to $69k support as ETFs flip and fear index sinks

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Bitcoin traders face possible 70% drawdown with $38k target in play

Bitcoin is holding just below $70k after a hawkish FOMC, ETF outflows, and a shift to Fear, with weak long conviction but easing miner selling and difficulty.

Bitcoin is trading above $69,900 on Friday evening, clinging to key support levels after a bruising week shaped by the Federal Reserve’s hawkish tone, a reversal in ETF flows, and broad risk-off sentiment across global markets. The crypto Fear & Greed Index sits at 28 — deep in Fear territory — as investors weigh the durability of BTC’s recovery against a deteriorating macro backdrop.

The week’s defining moment came on Wednesday, when the Fed held rates steady at its March FOMC meeting but signaled that fewer rate cuts are likely in 2026 than previously expected. Bitcoin fell roughly 5% in the immediate aftermath, sliding from near $74,000 to test the $70,000 level, as institutional players moved to de-risk. The reaction was compounded by a sharp reversal in ETF flows: after a highly bullish seven-day inflow streak that had brought in over $1.1 billion, US-listed spot Bitcoin ETFs recorded a $129 million net outflow on Wednesday alone — snapping the positive run and rattling sentiment.

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The sell-off dragged the broader crypto market with it. Ethereum and Solana each fell 5–6% in tandem, confirming that Bitcoin’s near-term correlation with risk assets remains elevated. With BTC’s 30-day correlation to the S&P 500 sitting at 0.74 — the highest of 2026 — the asset is currently trading less like a macro hedge and more like a high-beta tech proxy, a dynamic that leaves it exposed to any further deterioration in equity markets.

Despite the fear reading, there are structural factors that have prevented a more severe breakdown. Open interest data tracked by CoinGlass shows that during yesterday’s dip to $68,750, shorts were actively adding positions — forming what the firm described as a “clean short position buildup.” The price has since rebounded, though OI has not increased meaningfully, suggesting range-bound rather than trending conditions. The lack of new long entry confirms that conviction on the buy side remains cautious, but the shorts have also not fully pressed their advantage.

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On the supply side, the picture is more constructive. Miner selling pressure — a persistent headwind throughout the first quarter — is showing signs of fading, with net miner outflows down 82% from their February peak. A significant difficulty adjustment tonight, expected to drop ~7.5%, will further ease cost pressure on the mining industry and reduce near-term forced selling from that cohort.

For now, Bitcoin finds itself in a holding pattern: above the critical $66,827 level where over $1.87 billion in leveraged longs sit exposed, but well below the $73,757 resistance that would trigger a short squeeze. With macro uncertainty elevated, geopolitical tensions unresolved, and sentiment firmly in fear, the burden of proof lies with the bulls to demonstrate fresh conviction before the market can credibly call the bottom in.

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Kaspa price eyes over 50% rebound after confirming falling wedge pattern

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Kaspa price eyes over 50% rebound after confirming falling wedge pattern - 1

Kaspa price shot up to a seven-week high of $0.041 on Thursday before settling at $0.037 at press time. It has now confirmed a breakout from a multi-year falling wedge pattern, which could spur more gains ahead.

Summary

  • Kaspa surged to a seven-week high near $0.041 and confirmed a breakout from a multi-year falling wedge, signaling potential for further upside.
  • Technical indicators, including Supertrend and Aroon, point to a strengthening bullish trend, with resistance at $0.038 and a potential move toward $0.056.
  • Exchange outflows of $1.8 million suggest rising investor accumulation and reduced sell-side liquidity, supporting the bullish outlook.

According to data from crypto.news, Kaspa (KAS) rallied to a seven-week high of $0.037 on March 19. Trading at $0.037 at press time, the token is up nearly 42% from its year-to-date low.

Technicals suggest that the token could still jump at least another 50% before hitting exhaustion.

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On the daily chart, Kaspa price has broken out of a multi-year falling wedge pattern formed of two descending and converging trendlines. Typically, when an asset breaks out from the upper side of the pattern, it sees strong upside over the following days.

Kaspa price eyes over 50% rebound after confirming falling wedge pattern - 1
Kaspa price

In Kaspa’s case, the upside scenario is further reinforced by bullish signals from technical indicators. The Supertrend, a tool used to measure market trend direction and volatility, flashed a green signal as the price moved above the key overhead trendline. 

Additionally, the Aroon indicator shows the Aroon Up at 92.86% while the Aroon Down was at 14.29%, suggesting that a powerful new uptrend is currently in control.

For now, the immediate resistance for Kaspa lies at $0.038, the 23.6% Fibonacci retracement level drawn from the May 12 high of $0.13 last year to the Oct. 10 low of $0.0090.

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A decisive breakout from here with strong volume can push its price to $0.056, which aligns with the next Fibonacci retracement level and lies nearly 51% above the current price.

The bullish outlook for Kaspa could gain further support from rising exchange outflows, as investors have begun moving their holdings off exchanges. Per data from CoinGlass, nearly $1.8 million worth of Kaspa has left exchanges recently.

Such a sudden spike in outflows means that investors are likely withdrawing Kaspa to self-custody wallets, potentially due to expectations of significant future price appreciation. This often leads other market participants to follow suit and further reduces the available sell-side liquidity.

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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World Liberty Financial Launches Toolkit to Let AI Agents Spend USD1

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World Liberty Financial Launches Toolkit to Let AI Agents Spend USD1

The Trump-backed DeFi project’s new AgentPay SDK gives AI agents self-custodial wallets and policy-enforced spending on EVM chains.

World Liberty Financial (WLFI) on Thursday released the AgentPay SDK, an open-source toolkit that enables AI agents to autonomously hold, send, and receive funds across Ethereum-compatible blockchains.

Transactions are settled in USD1, WLFI’s dollar-pegged stablecoin, which currently has roughly $4.4 billion in circulation, according to DefiLlama.

How It Works

AgentPay’s architecture spans four layers: a command-line interface, a local signing daemon, a policy engine, and a skill pack for integration with agent hosts. According to WLFI’s documentation, private keys are generated and stored on the operator’s machine, and all transaction signing occurs locally — the SDK sends no data to WLFI or any third party.

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When a transaction exceeds preset thresholds, the SDK pauses it and requires human approval before proceeding. If a wallet lacks sufficient funds, the system halts the operation and returns an error including the wallet address, chain ID, and a QR code for replenishment.

The kit plugs directly into coding-agent hosts, such as Claude Code, Codex, and OpenClaw, according to the project’s documentation. It also includes a built-in Bitrefill integration that allows agents to purchase gift cards and mobile top-ups with USD1.

This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.

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Investors sue Gemini over IPO misstatements and Gemini 2.0 strategy switch

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Investors sue Gemini over IPO misstatements and Gemini 2.0 strategy switch

Investors sue Gemini, alleging its IPO hid plans to abandon core crypto trading for a prediction market pivot, after shares crashed and layoffs followed.

Cryptocurrency exchange Gemini and its co-founders Tyler and Cameron Winklevoss are facing a securities class action lawsuit filed in the U.S. District Court for the Southern District of New York, alleging the company misled investors during its initial public offering and concealed a major strategic overhaul from the public.

The lawsuit, which targets Gemini Space Station, Inc. along with several senior executives, claims the exchange made materially misleading statements in its IPO documents when it went public on September 12, 2025. According to plaintiffs, Gemini failed to disclose that it was planning to fundamentally transform its business — abandoning its core cryptocurrency trading platform in favor of a prediction market-centered model it has since dubbed “Gemini 2.0.”

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The fallout since the IPO has been severe. Gemini’s stock, which priced at $28 per share at launch, has since collapsed to $6.30 — a loss of roughly 77.5% — inflicting significant damage on retail and institutional investors who bought in at the offering. The decline has been compounded by a series of damaging developments that critics argue should have been disclosed to investors ahead of the listing.

In February 2026, just months after going public, Gemini announced a sweeping 25% reduction in its workforce. Around the same time, the exchange confirmed it was pulling out of several key international markets, exiting operations in the United Kingdom, the European Union, and Australia. The company has also seen significant leadership turnover, with its Chief Financial Officer Dan Chen, Chief Operating Officer Marshall Beard, and Chief Legal Officer Tyler Meade all departing in recent months.

The lawsuit argues that these events were not isolated incidents but rather the predictable consequence of a strategic direction the company had already decided upon before its IPO — one it chose not to share with investors.

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The Winklevoss brothers, who founded Gemini in 2014 and have long positioned the exchange as a compliance-first, institutionally focused platform, have not yet issued a public response to the litigation. The suit names other unnamed executives alongside the founders.

The case arrives at a delicate moment for crypto exchanges more broadly. With regulatory scrutiny intensifying across the U.S. and global markets, the pressure on publicly listed crypto firms to meet the same disclosure standards as traditional financial institutions has never been higher. For Gemini, which built much of its brand identity around regulatory cooperation and trustworthiness, the allegations of investor deception carry particular reputational weight.

The outcome of the lawsuit could have broader implications for how crypto companies structure and disclose their business strategies ahead of public offerings — and may prompt closer regulatory examination of IPO documents across the industry.

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Bitcoin whale dormant since 2012 moves $147 million in BTC

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A bitcoin whale wallet dormant since 2012 has moved 2,100 BTC worth $147 million after 13.7 years, stoking debate over lost coins, whale psychology, and market risk.

Summary

  • A wallet inactive since 2012 moved 2,100 BTC on March 20, 2026, now worth about $147 million versus just $13,685 when last touched.
  • The move, flagged by Whale Alert, comes as over $1.87 billion in leveraged bitcoin longs sit near liquidation if price slips below $66,827.
  • Analysts say such awakenings highlight both psychological overhang from early whales and how much BTC supply is locked in long-dormant or lost wallets.

A Bitcoin (BTC) address that had sat completely untouched for nearly 14 years was activated on March 20, 2026, sending shockwaves through the on-chain analytics community. The wallet, which had been dormant since 2012, held 2,100 BTC — worth approximately $147 million at current prices. When the coins were last moved, they were valued at just $13,685 in total.

The movement was flagged by Whale Alert, a blockchain tracking service that monitors large and unusual cryptocurrency transfers. The activation of wallets this old is an exceptionally rare event and typically draws intense scrutiny from analysts, traders, and the broader crypto community — both for what it signals about early adopter behavior and for the potential market impact of such a large, sudden transfer.

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The 2,100 BTC tranche represents a staggering return. At the 2012 price implied by the $13,685 valuation, Bitcoin was trading at roughly $6.50 per coin. With BTC now hovering around $69,700, the holder is sitting on a return of more than 10,000x — one of the most extraordinary wealth preservation stories the asset class has produced.

The identity of the wallet’s owner remains unknown, as is standard with pseudonymous Bitcoin addresses. Speculation has already begun as to whether the coins belong to a long-forgotten early miner, a pioneer investor from Bitcoin’s earliest days, or potentially a wallet connected to a now-dormant project or exchange from that era. Some analysts have also raised the question of whether the movement could be linked to estate activity, with heirs or executors accessing wallets belonging to early adopters who have since passed away.

What makes the timing notable is the current market context. Bitcoin has been navigating a period of uncertain momentum, with CoinGlass data flagging over $1.87 billion in leveraged long positions at risk of liquidation if the price falls below $66,827. The sudden reactivation of a wallet of this size naturally raises concerns about potential selling pressure — though a single transfer does not necessarily indicate an intent to sell, as coins may simply be moving to a new custody arrangement or cold storage solution.

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Historically, the reactivation of very old Bitcoin wallets has served as a psychological trigger for the market, prompting debate about the long-term conviction of early holders and the nature of Bitcoin’s supply dynamics. With roughly 4 million BTC estimated to be permanently lost and millions more held by long-term holders who have never sold, movements like this are a reminder that Bitcoin’s available supply is far more constrained than its total circulating figure suggests.

Whether these coins ultimately hit the open market or simply settle into new cold storage, the awakening of a 13.7-year dormant whale is a stark illustration of just how long Bitcoin’s history now runs — and how much early wealth remains locked in its blockchain.

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Ledger Hires Ex-Circle Executive as CFO, Opens NYC Office Amid US Expansion

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Ledger Wallet Adds OKX DEX for On-Device DeFi Swaps

Crypto hardware provider Ledger has appointed former Circle executive John Andrews as chief financial officer and opened a New York office as part of its US expansion. Andrews previously led capital markets and investor relations at Circle.

According to Friday’s announcement, the New York office is part of a multi-million-dollar investment in Ledger’s US operations and will create dozens of roles across enterprise and marketing teams. It will serve as a hub for the company’s institutional business, including its Ledger Enterprise platform, which provides custody and governance tools for digital assets.