Category: Cryptocurrency News

Bitcoin (BTC) failed to sustain levels above $85,000 on March 14, despite a 1.9% gain in the S&P 500 index. More importantly, it has been over a week since Bitcoin last traded at $90,000, prompting traders to question whether the bull market is truly over and how long selling pressure will persist. Bitcoin basis rate rebounds from bearish levelsFrom a derivatives perspective, Bitcoin metrics have shown resilience despite a 30% drop from its all-time high of $109,354 on Jan. 20. The Bitcoin basis rate, which measures the premium of monthly contracts over spot markets, has recovered to healthy levels after briefly signaling bearish sentiment on March 13.Bitcoin 2-month futures contracts annualized premium. Source: Laevitas.chTraders typically demand a 5% to 10% annualized premium to compensate for longer settlement periods. A basis rate below this threshold signals weak demand from leveraged buyers. While the current 5% rate is lower than the 8% recorded two weeks ago, it remains within neutral territory.Central banks will eventually boost BTC priceBitcoin price action has closely tracked the S&P 500, suggesting that factors driving investor risk aversion may not be directly tied to the top cryptocurrency. However, this also challenges the idea of Bitcoin as a non-correlated asset, as its price behavior has aligned more closely with traditional markets, at least in the short term.S&P 500 futures (left) vs. Bitcoin/USD. Source: TradingView / CointelegraphIf Bitcoin’s price remains heavily dependent on the stock market, which is under pressure due to fears of an economic recession, investors are likely to keep reducing exposure to risk-on assets and shift toward short-term bonds for safety. However, central banks are expected to implement stimulus measures to avoid a recession, and scarce assets like Bitcoin are likely to outperform as a result. According to the CME FedWatch tool, the markets are pricing less than 40% odds for interest rates in the US below 3.75% from the current 4.25% baseline ahead of the July 30 FOMC meeting.Nevertheless, Bitcoin should reclaim the $90,000 level as soon as the S&P 500 pares some of its recent 10% losses. But in a worst-case scenario, panic selling of risk-on assets could continue.Under such conditions, BTC would likely keep underperforming over the next few months, especially if spot Bitcoin exchange-traded funds (ETFs) continue to experience significant and sustained net outflows.Bitcoin derivatives show no signs of stressProfessional traders are not actively using Bitcoin options for hedging presently, as shown by the 25% delta skew metric. This implies that few market participants expect the BTC price to retest the $76,900 level anytime soon.Bitcoin 1-month options 25% delta skew (put-call). Source: Laevitas.chBullish sentiment typically leads to put (sell) options trading at a 6% or higher discount. In contrast, bearish periods cause the indicator to rise to a 6% premium, as seen briefly on March 10 and March 12. However, the 25% delta skew has recently stayed within the neutral range, reflecting a healthy derivatives market.To better gauge trader sentiment, examining BTC margin markets is important. Unlike derivatives contracts, which are always balanced between longs (buyers) and shorts (sellers), margin markets let traders borrow stablecoins to buy spot Bitcoin. Similarly, bearish traders can borrow BTC to open short positions, betting on a price drop.Bitcoin margin long-to-short ratio at OKX. Source: OKXThe Bitcoin long-to-short margin ratio at OKX shows longs outweighing shorts by 18 times. Historically, excessive confidence has pushed this ratio above 40 times, while levels below five times favoring longs are seen as bearish. The current ratio mirrors sentiment on Jan. 30, when Bitcoin traded above $100,000.There are no signs of stress or bearishness in Bitcoin derivatives and margin markets, which is reassuring, especially after over $920 million in leveraged long futures contracts were liquidated in the seven days ending March 13. Therefore, as recession risks ease, Bitcoin price is likely to reclaim the $90,000 level in the coming weeks, given the resilience in investor sentiment.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.

Bitcoin (BTC) failed to sustain levels above $85,000 on March 14, despite a 1.9% gain in the S&P 500 index. More importantly, it has been over a week since Bitcoin last traded at $90,000, prompting traders to question whether the bull market is truly over and how long selling pressure will persist. Bitcoin basis rate rebounds from bearish levelsFrom a derivatives perspective, Bitcoin metrics have shown resilience despite a 30% drop from its all-time high of $109,354 on Jan. 20. The Bitcoin basis rate, which measures the premium of monthly contracts over spot markets, has recovered to healthy levels after briefly signaling bearish sentiment on March 13.Bitcoin 2-month futures contracts annualized premium. Source: Laevitas.chTraders typically demand a 5% to 10% annualized premium to compensate for longer settlement periods. A basis rate below this threshold signals weak demand from leveraged buyers. While the current 5% rate is lower than the 8% recorded two weeks ago, it remains within neutral territory.Central banks will eventually boost BTC priceBitcoin price action has closely tracked the S&P 500, suggesting that factors driving investor risk aversion may not be directly tied to the top cryptocurrency. However, this also challenges the idea of Bitcoin as a non-correlated asset, as its price behavior has aligned more closely with traditional markets, at least in the short term.S&P 500 futures (left) vs. Bitcoin/USD. Source: TradingView / CointelegraphIf Bitcoin’s price remains heavily dependent on the stock market, which is under pressure due to fears of an economic recession, investors are likely to keep reducing exposure to risk-on assets and shift toward short-term bonds for safety. However, central banks are expected to implement stimulus measures to avoid a recession, and scarce assets like Bitcoin are likely to outperform as a result. According to the CME FedWatch tool, the markets are pricing less than 40% odds for interest rates in the US below 3.75% from the current 4.25% baseline ahead of the July 30 FOMC meeting.Nevertheless, Bitcoin should reclaim the $90,000 level as soon as the S&P 500 pares some of its recent 10% losses. But in a worst-case scenario, panic selling of risk-on assets could continue.Under such conditions, BTC would likely keep underperforming over the next few months, especially if spot Bitcoin exchange-traded funds (ETFs) continue to experience significant and sustained net outflows.Bitcoin derivatives show no signs of stressProfessional traders are not actively using Bitcoin options for hedging presently, as shown by the 25% delta skew metric. This implies that few market participants expect the BTC price to retest the $76,900 level anytime soon.Bitcoin 1-month options 25% delta skew (put-call). Source: Laevitas.chBullish sentiment typically leads to put (sell) options trading at a 6% or higher discount. In contrast, bearish periods cause the indicator to rise to a 6% premium, as seen briefly on March 10 and March 12. However, the 25% delta skew has recently stayed within the neutral range, reflecting a healthy derivatives market.To better gauge trader sentiment, examining BTC margin markets is important. Unlike derivatives contracts, which are always balanced between longs (buyers) and shorts (sellers), margin markets let traders borrow stablecoins to buy spot Bitcoin. Similarly, bearish traders can borrow BTC to open short positions, betting on a price drop.Bitcoin margin long-to-short ratio at OKX. Source: OKXThe Bitcoin long-to-short margin ratio at OKX shows longs outweighing shorts by 18 times. Historically, excessive confidence has pushed this ratio above 40 times, while levels below five times favoring longs are seen as bearish. The current ratio mirrors sentiment on Jan. 30, when Bitcoin traded above $100,000.There are no signs of stress or bearishness in Bitcoin derivatives and margin markets, which is reassuring, especially after over $920 million in leveraged long futures contracts were liquidated in the seven days ending March 13. Therefore, as recession risks ease, Bitcoin price is likely to reclaim the $90,000 level in the coming weeks, given the resilience in investor sentiment.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.

Today in crypto, Telegram founder Pavel Durov left France and relocated to Dubai following approval from a French court. David Sacks and his venture capital firm sold over $200 million in crypto and crypto-related stocks before working for the White House. Meanwhile, Argentina has introduced new rules for crypto firms. Telegram founder Pavel Durov given permission to leave FrancePavel Durov, founder of the popular messaging app Telegram, has left France and relocated to Dubai following approval from a French court. On March 13, Durov reportedly received permission from the French court to depart the country, allowing him to travel to Dubai — a city known for its business-friendly environment and lack of extradition agreements with many nations — according to a Barron’s report citing unknown sources.Citing unnamed sources, AFP reported that “He (Durov) departed France this morning,” adding that he left with the authorities’ approval. Another source stated that he had been granted permission to leave France for “several weeks.”Sacks and his VC firm sold over $200M in crypto and stocks before WH roleDavid Sacks and his venture capital firm sold over $200 million in crypto and crypto-related stocks before he commenced his role as the White House AI and crypto czar, a White House memorandum disclosed.“You and Craft Ventures have divested over $200 million of positions related to the digital asset industry, of which $85 million is directly attributable to you,” said the memorandum dated March 5.The memorandum said “significant steps” were taken to reduce potential conflicts of interest before Sacks began his tenure as the White House AI and crypto czar — in which a major part of his role is to help create a legal framework for the crypto industry.Sacks offloaded all the “liquid cryptocurrency” in his portfolio, as well as Craft Ventures’ portfolio — the investment firm he co-founded in 2017 — including holdings in Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), before US President Donald Trump’s inauguration on Jan. 20.Argentina finalizes rules for virtual asset providersArgentina’s securities regulator has finalized rules for virtual asset service providers (VASPs), which cover general codes of conduct and custody requirements for cryptocurrency exchanges and other platforms facilitating digital asset transactions. The regulations were published on March 13 by the National Securities Commission, also known as CNV, under General Resolution No. 1058. According to a translated version of the announcement, the regulations impose “obligations regarding registration, cybersecurity, asset custody, money laundering prevention, and risk disclosure” on VASPs operating in the country.The stated goal of the rules is to guarantee “transparency, stability, and user protection in the crypto ecosystem,” the announcement said.Argentine tax lawyer Diego Fraga said the final guidelines include mandatory separation of company and client funds, annual audits and monthly reporting with the CNV. Source: Diego FragaSince 2024, VASPs operating in Argentina have been required to register with the registry of virtual asset service providers, also known as PSAV. According to the new rules, registrations may be revoked for noncompliance, and any company operating without registration may be blocked by court order.

Pavel Durov, founder of the popular messaging app Telegram, has left France and relocated to Dubai following approval from a French court. On March 13, Durov reportedly received permission from the French court to depart the country, allowing him to travel to Dubai — a city known for its business-friendly environment and lack of extradition agreements with many nations — according to a Barron’s report citing unknown sources.The exact terms of the court’s decision remain unclear, but Durov’s relocation has reignited debates about jurisdiction, privacy, and the responsibilities of tech leaders in combating illegal activities on their platforms.Citing unnamed sources, AFP reported that “He (Durov) departed France this morning,” adding that he left with the authorities’ approval. Another source stated that he had been granted permission to leave France for “several weeks.”The Telegram founder’s legal issues began on Aug. 24, when he was temporarily arrested at Le Bourget airport in Paris.French prosecutors accused Durov of running a platform that allegedly enables illegal activities, according to charges announced on Aug. 28, 2024.Daily price chart of Toncoin. Source: TradingViewThe crypto market reacted positively to the news of Durov departing from France. Toncoin (TON), the native cryptocurrency of The Open Network (TON), spiked over 18% in market price, according to data from Cointelegraph Markets Pro and TradingView. First report on Durov’s case in France since late 2024The unconfirmed reports suggest that Durov has either settled his case in France or received permission to leave the country while the court case is ongoing.Durov did not confirm his departure on social media by publishing time, while the French government officials are yet to issue a public statement, should the news be the case.As previously reported, Durov was abruptly arrested by French authorities at Le Bourget airport in Paris in August 2024.France’s Prosecutor’s Office, or Parquet de Paris, promptly issued a statement on preliminary charges to Durov on Aug. 28, accusing the Telegram founder of facilitating a platform that enables illicit transactions.The prosecutors claimed that Durov was facing up to 10 years of prison time in addition to a 500,000 euros ($550,000) fine.Durov was released from French custody on Aug. 28 after posting a $6 million bail. However, French authorities required him to remain in the country and mandated his court appearance only upon the completion of the investigation.Vinnik’s release came just a month agoDurov, now 40, is a citizen of Russia who also holds French and United Arab Emirates passports.Shortly after his arrest in France, the Russian government publicly expressed the willingness to provide assistance in his case, highlighting the complexity of the matter due to Durov being not only a Russian citizen but also a French citizen.Durov’s departure from France marks another important event in the timeline of Russian programmers’ releases by governments worldwide.Alexander Vinnik exits from the plane in Moscow. Source: The Moscow TimesAlexander Vinnik, operator of the now-defunct cryptocurrency exchange BTC-e, finally returned to Russia just a month ago following long-running disputes over his custody and indictment since his arrest in 2017.According to a Wall Street Journal report, Vinnik’s prison release from the United States came as part of a US-Russia prisoner swap amid the countries seeking to mend diplomatic ties following Donald Trump’s presidential return in January.Additional reporting by Helen Partz.

Pavel Durov, founder of the popular messaging app Telegram, has left France and relocated to Dubai following approval from a French court. On March 13, Durov reportedly received permission from the French court to depart the country, allowing him to travel to Dubai — a city known for its business-friendly environment and lack of extradition agreements with many nations — according to a Barron’s report citing unknown sources.The exact terms of the court’s decision remain unclear, but Durov’s relocation has reignited debates about jurisdiction, privacy, and the responsibilities of tech leaders in combating illegal activities on their platforms.Citing unnamed sources, AFP reported that “He (Durov) departed France this morning,” adding that he left with the authorities’ approval. Another source stated that he had been granted permission to leave France for “several weeks.”The Telegram founder’s legal issues began on Aug. 24, when he was temporarily arrested at Le Bourget airport in Paris.French prosecutors accused Durov of running a platform that allegedly enables illegal activities, according to charges announced on Aug. 28, 2024.Daily price chart of Toncoin. Source: TradingViewThe crypto market reacted positively to the news of Durov departing from France. Toncoin (TON), the native cryptocurrency of The Open Network (TON), spiked over 18% in market price, according to data from Cointelegraph Markets Pro and TradingView. First report on Durov’s case in France since late 2024The unconfirmed reports suggest that Durov has either settled his case in France or received permission to leave the country while the court case is ongoing.Durov did not confirm his departure on social media by publishing time, while the French government officials are yet to issue a public statement, should the news be the case.As previously reported, Durov was abruptly arrested by French authorities at Le Bourget airport in Paris in August 2024.France’s Prosecutor’s Office, or Parquet de Paris, promptly issued a statement on preliminary charges to Durov on Aug. 28, accusing the Telegram founder of facilitating a platform that enables illicit transactions.The prosecutors claimed that Durov was facing up to 10 years of prison time in addition to a 500,000 euros ($550,000) fine.Durov was released from French custody on Aug. 28 after posting a $6 million bail. However, French authorities required him to remain in the country and mandated his court appearance only upon the completion of the investigation.Vinnik’s release came just a month agoDurov, now 40, is a citizen of Russia who also holds French and United Arab Emirates passports.Shortly after his arrest in France, the Russian government publicly expressed the willingness to provide assistance in his case, highlighting the complexity of the matter due to Durov being not only a Russian citizen but also a French citizen.Durov’s departure from France marks another important event in the timeline of Russian programmers’ releases by governments worldwide.Alexander Vinnik exits from the plane in Moscow. Source: The Moscow TimesAlexander Vinnik, operator of the now-defunct cryptocurrency exchange BTC-e, finally returned to Russia just a month ago following long-running disputes over his custody and indictment since his arrest in 2017.According to a Wall Street Journal report, Vinnik’s prison release from the United States came as part of a US-Russia prisoner swap amid the countries seeking to mend diplomatic ties following Donald Trump’s presidential return in January.Additional reporting by Helen Partz.

Pavel Durov, founder of the popular messaging app Telegram, has left France and relocated to Dubai following approval from a French court. On March 13, Durov reportedly received permission from the French court to depart the country, allowing him to travel to Dubai — a city known for its business-friendly environment and lack of extradition agreements with many nations — according to a Barron’s report citing unknown sources.The exact terms of the court’s decision remain unclear, but Durov’s relocation has reignited debates about jurisdiction, privacy, and the responsibilities of tech leaders in combating illegal activities on their platforms.Citing unnamed sources, AFP reported that “He (Durov) departed France this morning,” adding that he left with the authorities’ approval. Another source stated that he had been granted permission to leave France for “several weeks.”The Telegram founder’s legal issues began on Aug. 24, when he was temporarily arrested at Le Bourget airport in Paris.French prosecutors accused Durov of running a platform that allegedly enables illegal activities, citing preliminary charges announced on Aug. 28, 2024.First report on Durov’s case in France since late 2024The unconfirmed reports suggest that Durov has either settled his case in France or received permission to leave the country while the court case is ongoing.Durov did not confirm his departure on social media by publishing time, while the French government officials are yet to issue a public statement, should the news be the case.As previously reported, Durov was abruptly arrested by French authorities at Le Bourget airport in Paris in August 2024.France’s Prosecutor’s Office, or Parquet de Paris, promptly issued a statement on preliminary charges to Durov on Aug. 28, accusing the Telegram founder of facilitating a platform that enables illicit transactions.The prosecutors claimed that Durov was facing up to 10 years of prison time in addition to a 500,000 euros ($550,000) fine.This is a developing story, and further information will be added as it becomes available.

Pavel Durov, founder of the popular messaging app Telegram, has left France and relocated to Dubai following approval from a French court. On March 13, Durov reportedly received permission from the French court to depart the country, allowing him to travel to Dubai — a city known for its business-friendly environment and lack of extradition agreements with many nations — according to a Barron’s report citing unknown sources.The exact terms of the court’s decision remain unclear, but Durov’s relocation has reignited debates about jurisdiction, privacy, and the responsibilities of tech leaders in combating illegal activities on their platforms.Citing unnamed sources, AFP reported that “He (Durov) departed France this morning,” adding that he left with the authorities’ approval. Another source stated that he had been granted permission to leave France for “several weeks.”The Telegram founder’s legal issues began on Aug. 24, when he was temporarily arrested at Le Bourget airport in Paris.French prosecutors accused Durov of running a platform that allegedly enables illegal activities, according to charges announced on Aug. 28, 2024.Daily price chart of Toncoin. Source: TradingViewThe crypto market reacted positively to the news of Durov departing from France. Toncoin (TON), the native cryptocurrency of The Open Network (TON), spiked over 18% in market price, according to data from Cointelegraph Markets Pro and TradingView. First report on Durov’s case in France since late 2024The unconfirmed reports suggest that Durov has either settled his case in France or received permission to leave the country while the court case is ongoing.Durov did not confirm his departure on social media by publishing time, while the French government officials are yet to issue a public statement, should the news be the case.As previously reported, Durov was abruptly arrested by French authorities at Le Bourget airport in Paris in August 2024.France’s Prosecutor’s Office, or Parquet de Paris, promptly issued a statement on preliminary charges to Durov on Aug. 28, accusing the Telegram founder of facilitating a platform that enables illicit transactions.The prosecutors claimed that Durov was facing up to 10 years of prison time in addition to a 500,000 euros ($550,000) fine.Durov was released from French custody on Aug. 28 after posting a $6 million bail. However, French authorities required him to remain in the country and mandated his court appearance only upon the completion of the investigation.Vinnik’s release came just a month agoDurov, now 40, is a citizen of Russia who also holds French and United Arab Emirates passports.Shortly after his arrest in France, the Russian government publicly expressed the willingness to provide assistance in his case, highlighting the complexity of the matter due to Durov being not only a Russian citizen but also a French citizen.Durov’s departure from France marks another important event in the timeline of Russian programmers’ releases by governments worldwide.Alexander Vinnik exits from the plane in Moscow. Source: The Moscow TimesAlexander Vinnik, operator of the now-defunct cryptocurrency exchange BTC-e, finally returned to Russia just a month ago following long-running disputes over his custody and indictment since his arrest in 2017.According to a Wall Street Journal report, Vinnik’s prison release from the United States came as part of a US-Russia prisoner swap amid the countries seeking to mend diplomatic ties following Donald Trump’s presidential return in January.Additional reporting by Helen Partz.

Pavel Durov, founder of the popular messaging app Telegram, has left France and relocated to Dubai following approval from a French court. On March 13, Durov reportedly received permission from the French court to depart the country, allowing him to travel to Dubai — a city known for its business-friendly environment and lack of extradition agreements with many nations — according to a Barron’s report citing unknown sources.The exact terms of the court’s decision remain unclear, but Durov’s relocation has reignited debates about jurisdiction, privacy, and the responsibilities of tech leaders in combating illegal activities on their platforms.Citing unnamed sources, AFP reported that “He (Durov) departed France this morning,” adding that he left with the authorities’ approval. Another source stated that he had been granted permission to leave France for “several weeks.”The Telegram founder’s legal issues began on Aug. 24, when he was temporarily arrested at Le Bourget airport in Paris.French prosecutors accused Durov of running a platform that allegedly enables illegal activities, according to charges announced on Aug. 28, 2024.Daily price chart of Toncoin. Source: TradingViewThe crypto market reacted positively to the news of Durov departing from France. Toncoin (TON), the native cryptocurrency of The Open Network (TON), spiked over 18% in market price, according to data from Cointelegraph Markets Pro and TradingView. First report on Durov’s case in France since late 2024The unconfirmed reports suggest that Durov has either settled his case in France or received permission to leave the country while the court case is ongoing.Durov did not confirm his departure on social media by publishing time, while the French government officials are yet to issue a public statement, should the news be the case.As previously reported, Durov was abruptly arrested by French authorities at Le Bourget airport in Paris in August 2024.France’s Prosecutor’s Office, or Parquet de Paris, promptly issued a statement on preliminary charges to Durov on Aug. 28, accusing the Telegram founder of facilitating a platform that enables illicit transactions.The prosecutors claimed that Durov was facing up to 10 years of prison time in addition to a 500,000 euros ($550,000) fine.Durov was released from French custody on Aug. 28 after posting a $6 million bail. However, French authorities required him to remain in the country and mandated his court appearance only upon the completion of the investigation.Vinnik’s release came just a month agoDurov, now 40, is a citizen of Russia who also holds French and United Arab Emirates passports.Shortly after his arrest in France, the Russian government publicly expressed the willingness to provide assistance in his case, highlighting the complexity of the matter due to Durov being not only a Russian citizen but also a French citizen.Durov’s departure from France marks another important event in the timeline of Russian programmers’ releases by governments worldwide.Alexander Vinnik exits from the plane in Moscow. Source: The Moscow TimesAlexander Vinnik, operator of the now-defunct cryptocurrency exchange BTC-e, finally returned to Russia just a month ago following long-running disputes over his custody and indictment since his arrest in 2017.According to a Wall Street Journal report, Vinnik’s prison release from the United States came as part of a US-Russia prisoner swap amid the countries seeking to mend diplomatic ties following Donald Trump’s presidential return in January.Additional reporting by Helen Partz.

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