Category: Cryptocurrency News

submitted by /u/Livid_Yam [link] [comments]

Ethereum’s native token, Ether (ETH), witnessed its lowest weekly close since November 2023, highlighting just how much the top altcoin has struggled over the past few months. Ethereum 1-day chart. Source: Cointelegraph/TradingViewIn the past 83 days, it declined by 51%, translating to an average daily loss of approximately 0.61%. If the losses are compounded daily, the rate increases to about 0.84%.Ethereum exchange outflows hit 27-month highAccording to IntoTheBlock, a crypto analytics platform, Ethereum witnessed significant outflows worth $1.8 billion over the past week. It was the highest weekly outflow since December 2022, and in an X post, the platform added, “Despite ongoing pessimism around Ether prices, this trend suggests many holders see current levels as a strategic buying opportunity.”Ethereum net flows on aggregated exchanges. Source: X.comFellow onchain data provider CryptoQuant paints a similar picture. The 30-day simple-moving average of Ethereum netflows dropped to roughly 30,000 ETH last week, which was last recorded toward the end of December 2022.Exchange exchange total netflows. Source: CryptoQuantLikewise, Ethereum’s MVRV (market value to realized value) ratio dropped to 0.8 for the first time since Oct. 18, 2023, as observed in the chart.Related: Crypto ETPs see 4th straight week of outflows, totaling $876M — CoinSharesThe MVRV ratio is a metric that calculates ETH’s market price to the average price at which all ETH in circulation was last moved. Ethereum MVRV ratio. Source: CryptoQuantAn MVRV ratio below 1 indicates undervaluation, signaling a potential buying opportunity. For context, when the MVRV ratio dropped to 0.8 on Oct. 18, 2023, Ether registered a local bottom near $1,600, followed by a bullish reversal and the beginning of the 2024 bull run.Is the Ethereum bottom in?Ether price is currently consolidating near its psychological level at $2,000, following a steady correction since the beginning of 2025. With respect to this intraday price action, Mikybull, a technical analyst, points out that Ethereum is “showing a bullish reversal” with a diamond price pattern. Ethereum 4-hour analysis by Mikybull. Source: X.comA diamond pattern after a downtrend suggests a potential bullish reversal. Based on this pattern’s measured target, Ether could rebound about 20% to $2,600 from its current price. Ethereum weekly chart. Source: Cointelegraph/TradingViewOn the flip side, Ether’s weekly chart closed below the 200-day EMA level for the first time since October 2023. Since 2020, ETH price has remained under this indicator for less than 15% of the time. Previously, Ether rebounded in the following week every time it dropped below this trendline in 2023. Related: Bitcoin ‘Monte Carlo’ model forecasts $713K peak in 6 monthsHowever, a prolonged period under this line may extend ETH’s bottom price target. Thus, it will be critical for Ethereum to bounce back above this EMA trendline to confirm the bottom over the next few days or weeks. 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.

Coinbase's rollup Base is pushing hard to improve the Ethereum ecosystem: see their post Building for the long-term: making Base faster, simpler, and more powerful. They're moving to faster block times (200 ms) and adding sub-accounts which can have different permissions (e.g. not having to approve small transactions every time) and layer 3s for individual…
Read more

European lawmakers have remained silent on the United States’ Strategic Bitcoin Reserve order, a landmark policy shift favoring early adopters of Bitcoin due to its economic model.US President Donald Trump’s March 7 executive order outlined a plan to create a Bitcoin reserve using cryptocurrency seized in criminal cases rather than purchasing Bitcoin (BTC) on the market.Despite the significance of this move, European policymakers have yet to make any major public statements regarding Bitcoin reserves, raising questions about their stance on integrating BTC into national reserves.This may signal a lack of European Bitcoin reserve-related efforts due to the lengthy process of adding new national reserve assets, according to Anastasija Plotnikova, co-founder and CEO of blockchain regulatory firm Fideum. She said:“Usually there is a very clear legislative or executive process in adding different assets to the national treasuries, and in many cases, it is not an active voter or central bank support to push this through.”“[The] ECB [European Central Bank] historically and currently is very critical of BTC as a reserve asset, so it effectively closes the doors to all EU member states,” Plotnikova added.Meanwhile, European lawmakers are preparing to launch the digital euro, a central bank digital currency (CBDC).Related: US Bitcoin reserve marks ‘real step’ toward global financial integrationDigital euro push presents payment infrastructure concernsEuropean lawmakers’ silence on Trump’s Bitcoin reserve order is likely due to its focus on the digital euro, according to James Wo, the founder and CEO of venture capital firm DFG.“This stems from the ECB’s firm stance against holding Bitcoin in its reserves, as reiterated by ECB President Christine Lagarde,” Wo told Cointelegraph, adding:“This highlights the EU’s greater emphasis on the digital euro, though the recent outage in the ECB’s Target 2 (T2) payment system, which caused significant transaction delays, raised concerns about its ability to oversee a digital currency when it struggles with daily operations.”Related: Bitcoin reserve backlash signals unrealistic industry expectationsEuropean lawmakers push ahead with digital euro launch for October 2025Despite skepticism, ECB President Christine Lagarde is pushing ahead with the digital euro’s rollout, expected in October 2025. Lagarde has emphasized that the CBDC will coexist with cash and offer privacy protections to address concerns about government overreach.“The European Union is looking to launch the digital euro, our central bank digital currency, by October this year,” Lagarde said during a press conference, adding:“We are working to ensure that the digital euro coexists with cash, addressing privacy concerns by making it pseudonymous and cash-like in nature.”Source: CointelegraphThe United States and the European Union are taking opposite approaches to digital assets. While the EU is working to integrate a centralized digital currency, Trump has taken a firm stance against CBDCs.While CBDCs have been praised for their potential to increase financial inclusion, critics have raised concerns about their surveillance capabilities and the potential for government overreach.In July 2023, Brazil’s central bank published the source code for its CBDC pilot, and it took just four days for people to notice the surveillance and control mechanisms embedded within its code, allowing the central bank to freeze or reduce user funds within CBDC wallets.Magazine: SCB tips $500K BTC, SEC delays Ether ETF options, and more: Hodler’s Digest, Feb. 23 – Mar. 1

Cardano (ADA) has faced massive volatility and extreme price swings, with panic spreading across the crypto market as altcoins continue to struggle. Over the past few days, ADA has dropped more than 28% since last Thursday, adding to the growing negative sentiment surrounding altcoins. As uncertainty grips the market, investors are closely watching whether Cardano can stabilize or if further downside is ahead. Related Reading: Ethereum Breaks Out Of Descending Triangle Pattern – Fakeout Or Recovery Rally? Despite the bearish sentiment, key insights suggest that Cardano could be preparing for a recovery rally. Top analyst Ali Martinez shared a technical analysis on X, revealing that ADA’s key support zone lies between $0.80 and $0.66. Holding above this level has been crucial for setting up a market rebound. If ADA can maintain support within this range, it could set the stage for a strong recovery, potentially leading to a renewed push toward higher resistance levels. With fragile market conditions, the coming days will be critical for Cardano’s next move. Traders are watching whether ADA can hold key levels or if continued selling pressure will drive prices lower. A successful defense of support could mark the beginning of a recovery, but failure to hold may signal further downside risk. Cardano Remains Stable: What To Expect? Cardano has been overperforming compared to the broader market over the past week, showing resilience amid ongoing selling pressure. While many altcoins have suffered significant declines, ADA has remained relatively stable, holding key support levels. However, price action is still confined to a range that first began forming in November 2024, preventing a clear breakout in either direction. Related Reading: Cardano Bulls Eye $10 Target – Analyst Reveals Key Levels To Break If bulls can defend the current levels, ADA could soon attempt a push above multi-year highs, potentially leading to a strong recovery rally. Despite its recent stability, analysts remain cautious, noting that prices remain low, and sentiment suggests that many investors are still fearful. The next few weeks will be crucial in determining whether Cardano can sustain its momentum or if further downside is ahead. Martinez’s technical analysis highlights that, when looking at the bigger picture, Cardano’s key support zone lies between $0.80 and $0.66. He noted that holding above this critical range would be essential in determining ADA’s next major move. If ADA remains within this zone and starts to gain momentum, it could set the stage for a significant breakout, fueling a move toward higher resistance levels. With market conditions still uncertain, traders are closely watching whether ADA can maintain its strength or if selling pressure will intensify. If bulls hold key support levels, Cardano could be one of the first altcoins to break out once market conditions stabilize. However, falling below the $0.66 mark would indicate further downside risk, potentially delaying any near-term recovery. ADA Price Action Details Cardano (ADA) is currently trading at $0.74, holding slightly above the 200-day Exponential Moving Average (EMA). This level has become a key support zone, and bulls must defend it to maintain a chance for recovery. If ADA holds above this mark and reclaims the $0.82 level in the coming days, it could signal renewed bullish momentum and set the stage for a push toward the $1 mark. This psychological resistance has historically played a crucial role in ADA’s price action, and flipping it into support would confirm a strong recovery trend. However, failing to hold current levels could expose ADA to massive selling pressure, increasing the risk of further downside moves. A break below the 200-day EMA would likely send ADA into lower demand zones around $0.60, reinforcing bearish sentiment. Related Reading: 330,000 Ethereum Withdrawn From Exchanges In 72 Hours – Supply Squeeze Incoming? With Cardano at a pivotal moment, traders are watching closely to see whether bulls can sustain the current support or if another wave of selling will push prices lower. The next few trading sessions will be critical in determining ADA’s short-term direction and whether it can stage a meaningful recovery. Featured image from Dall-E, chart from TradingView

The cryptocurrency fell to a monthly low after markets were left unimpressed by Friday’s highly anticipated White House Crypto Summit. White House Crypto Summit Fails to Trigger Bitcoin Bull Run The Trump administration’s lackluster White House Crypto Summit was largely ceremonial in nature and appears to have contributed to a precipitous drop in the price […]

submitted by /u/goldyluckinblokchain [link] [comments]

Michael Saylor’s Strategy, the world’s largest public corporate Bitcoin holder, is looking to raise up to $21 billion in fresh capital to purchase more BTC.On March 10, Strategy officially announced that it entered into a new sales agreement that would allow the firm to issue and sell shares of its 8% Series A perpetual strike preferred stock to raise funds for general corporate purposes, including potential Bitcoin (BTC) acquisitions.As part of the agreement deal, dubbed the “ATM Program,” Strategy expects to make sales “in a disciplined manner over an extended period,” taking into account the trading price and volumes of the perpetual strike preferred stock at the time of sale.“Strategy intends to use the net proceeds from the ATM Program for general corporate purposes, including the acquisition of Bitcoin and for working capital,” the firm said in the filing with the Securities and Exchange Commission (SEC).The announcement comes amid Strategy holding 499,096 BTC ($41.2 billion), which it acquired for an aggregate amount of $33.1 billion at an average price of $66,423 per BTC.The company previously disclosed plans to issue and sell shares of its class A common stock to raise up to $21 billion in equity and $21 billion in fixed-income securities over the next three years in order to accumulate more Bitcoin under its “21/21 plan.”This is a developing story, and further information will be added as it becomes available.Magazine: Crypto has 4 years to grow so big ‘no one can shut it down’: Kain Warwick, Infinex

https://www.coindesk.com/markets/2025/03/10/ether-s-20-plunge-shatters-bull-market-trendline-created-after-2022-terra-crash submitted by /u/goshzilla666 [link] [comments]