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Bitcoin is struggling below $70,000. The market is uncertain. And the players with the most to lose have quietly stopped selling.

Top analyst Darkfost has published an assessment that reframes the current consolidation in a way the price chart alone does not permit. Bitcoin is holding a range between $62,000 and $75,000 — a level that represents approximately 47% of the all-time high reached in October. That number deserves to sit with the reader for a moment. Nearly half the value created at the cycle peak has been erased. The market that produced that peak is not the market that exists today.

And yet, Darkfost identifies a behavioral shift that cuts directly against the bearish price narrative. Whale selling activity on Binance has been declining clearly and consistently. The large players — the ones whose selling pressure helped drive the correction from the October highs — appear to be stepping back. The distribution phase that defined the first quarter of 2026 is showing signs of exhaustion.

That does not make $70,000 a floor. It does not guarantee a recovery. What it means is that the overhead selling pressure that has capped every rally attempt is quietly losing its fuel — and that changes the market’s sensitivity to any new wave of demand.

The Selling Had a Peak. That Peak Has Passed.

Darkfost’s data places the whale behavior in a precise historical context. As Bitcoin approached the $60,000 level, large holders on Binance became acutely active — the kind of activity that signals distribution rather than accumulation.

The peak arrived on February 4th: more than 11,800 BTC sent to Binance in a single day, the highest single-session whale deposit recorded in the period under review. That number did not arrive in isolation. It was the culmination of an escalating trend that pushed the 30-day moving average of daily BTC inflows from approximately 1,000 BTC to nearly 4,000 BTC by the end of February — a fourfold increase in selling infrastructure in less than a month.

What has happened since is the development the report identifies as significant. Whale deposits have declined sharply. The 30-day moving average now sits at approximately 1,600 BTC per day — still above the pre-February baseline, but less than half the peak reading. The pipeline of large-holder selling that defined February has contracted considerably.

Darkfost’s interpretation is measured and should remain so. A decline in whale deposits is not a bullish signal. It is the removal of a bearish one. Large players appear to have shifted to a wait-and-see posture — neither aggressively distributing nor aggressively accumulating. In an uncertain market, that stillness is itself information.

The pressure from above is easing. The support from below has not yet appeared to replace it.

Bitcoin Holds $66K as Downtrend Structure Remains Intact

Bitcoin is trading around the $66,000–$67,000 range, stabilizing after a sharp breakdown that defined February’s price action. The chart shows a clear transition from distribution near the $90,000–$100,000 region into a strong impulsive move lower, followed by a period of consolidation between roughly $63,000 and $70,000.

Despite this stabilization, the broader structure remains bearish. BTC continues to trade below the 50-day and 100-day moving averages, both trending downward and acting as dynamic resistance. Each recent attempt to push higher has been rejected near the $70,000–$72,000 zone, reinforcing this level as a key ceiling in the current range.

Volume dynamics support this interpretation. The largest spike occurred during the capitulation phase in February, indicating forced selling or liquidations. Since then, volume has normalized, suggesting the market is in a reaccumulation or pause phase, but without clear bullish confirmation.

Importantly, price is now compressing toward the lower half of the range. Repeated tests of the $65,000–$66,000 area suggest demand is present, but not strong enough to drive expansion.

A break above $72,000 would shift short-term momentum, while losing $63,000 could trigger another leg down, potentially targeting lower liquidity zones.

Featured image from ChatGPT, chart from TradingView.com 

Top Senate Democrats have questioned the Securities and Exchange Commission (SEC) over its recent enforcement actions against President Donald Trump-linked crypto businesses and the sudden departure of the federal agency’s enforcement chief.

SEC Scrutinized Over Crypto Enforcement Actions

On Monday, US Senator Richard Blumenthal, Ranking Member of the Senate Permanent Subcommittee on Investigations, sent a letter to the SEC’s Chairman, Paul Atkins, requesting answers about the Commission’s alleged preferential treatment of crypto businesses and entities linked to President Trump against the advice of senior staff.

The letter follows recent reports that the Division of Enforcement Director, Margaret Ryan, left the agency after allegedly facing pressure from Trump officials to drop fraud charges against Tron’s founder, Justin Sun.

Blumenthal expressed concerns about Ryan’s sudden departure, as reports suggest that senior leadership may have intervened to prevent the division from investigating individuals close to President Trump.

The Senator highlighted that earlier this month, the agency dismissed fraud charges against Sun and several of his companies in a settlement that involved a $10 million civil penalty. He pointed out that “Sun has sought to curry favor with President Trump by buying into Trump family cryptocurrency ventures,” particularly the TRUMP memecoin and World Liberty Financial’s WLFI token.

“This is a clear example of how President Trump’s blatant crypto corruption creates back doors for his family’s business partners, creating a pay-to-play enforcement regime that turns a blind eye to grave threats to national security and consumer protection,” Blumenthal affirmed.

He requested that the SEC provide the records and communications related to enforcement decisions involving crypto firms, including companies linked to Justin Sun and Binance’s co-founder Changpeng Zhao.

Senator Blumenthal also asked for all records and communications between the Office of the Chairman and any member of the Trump or Witkoff families regarding WLFI or TRUMP, and a list of any other enforcement cases where the Director of the Division of Enforcement’s recommendations were overruled by Atkin’s Office or other SEC senior leaders.

Senators Question SEC Enforcement Chief’s Departure

Crypto-skeptic democratic Senator and Ranking Member of the Senate Banking Committee, Elizabeth Warren, also pressed the SEC’s Chairman on Monday, with a letter seeking answers about the sudden departure of the agency’s top enforcement official.

Warren also cited a recent Reuters report claiming that Ryan had clashed with agency leaders over the direction of its enforcement program, particularly the cases linked to President Trump and his family.

The SEC’s enforcement director resigned on March 16 after only six months on the job. According to people familiar with the matter, Ryan allegedly “wanted to be more aggressive in pursuing charges for fraud and other misconduct, including in cases that touched the president’s circle, but faced resistance from SEC chair Paul Atkins and other top Republican political appointees.”

In the letter, Warren noted Ryan’s unusually short term at the agency, calling it “deeply troubling” after the reported circumstances of her departure and the lack of a reason or successor.

“Typically, ‘S.E.C. enforcement chiefs serve for years.’ But on March 16, 2026, approximately six months into her tenure as Director, the Commission announced Judge Ryan’s resignation from the agency. The press release announcing her departure did not include a reason or name a successor. But news reports suggest that Judge Ryan may have been stymied in her efforts to enforce the law,” stated Warren.

Ultimately, the crypto-skeptic lawmaker expressed her concerns that the change in leadership under the Trump administration would hinder the Division of Enforcement’s ability to fulfill its mission.

Following new Google research highlighting an accelerating quantum-computing threat to crypto, former Binance CEO Changpeng Zhao (CZ) weighed in with a pragmatic — if brisk — prescription: upgrade cryptography. 

In a social media post on X  (previously Twitter), the founder of the crypto exchange sought to ease concerns while acknowledging the technical and governance challenges ahead.

A Complex Task For The Crypto Industry 

Google’s whitepaper, published March 30, warned that the cryptographic foundations of most major digital assets are more vulnerable to quantum attacks than previously believed, noting that 6.9 million Bitcoin (BTC) are potentially at risk today, including about 1.7 million coins thought to belong to Satoshi Nakamoto.

CZ responded to the report with a straightforward message: “All crypto has to do is upgrade to Quantum‑Resistant (Post‑Quantum) Algorithms. So, no need to panic.” He balanced that reassurance with realism, warning that implementing post‑quantum cryptography across decentralized networks is difficult. 

Coordination problems, disputes over which algorithms to adopt, and the inevitable forks that may follow are likely. Some projects may never migrate, and CZ suggested that failing or dormant projects might be better off disappearing than becoming easier targets.

He also flagged practical risks that accompany any large‑scale cryptographic overhaul. New code can introduce vulnerabilities in the short term, and users who hold their own keys will need to migrate funds to upgraded wallets.

CZ raised an additional point about Satoshi’s coins. If those long‑dormant addresses move, it would strongly suggest that their owner is active; if they remain untouched for long enough, he proposed locking or effectively burning them to prevent them from becoming targets for attackers who might break old cryptography. 

New Steps Against Quantum Threats

The industry has already begun to move. Ethereum (ETH), which has publicly acknowledged the quantum risk, unveiled a new resource hub dedicated to post‑quantum security on March 25. 

Its co‑founder, Vitalik Buterin, previously emphasized the need for changes in how Ethereum stores data and signs transactions to remain secure against future quantum advances. 

On the Bitcoin side, BTQ Technologies released Bitcoin Quantum testnet v0.3.0 on March 20, implementing the first working version of Bitcoin Improvement Proposal 360 (BIP‑360), a practical experiment in quantum‑resilient signatures.

In short, the path forward is clear in principle: adopt quantum‑resistant algorithms and migrate wallets and smart contracts to new signature schemes. In practice, the process will be messy, contested, and technically challenging. 

Yet, CZ’s bottom line was optimistic: “Fundamentally: It’s always easier to encrypt than decrypt. More computing power is always good. Crypto will stay, post quantum,” the former Binance CEO said to conclude his social media post.  

At the time of writing, Bitcoin was trading at around $66,833. According to CoinGecko data, this represents a 1% loss in the last 24 hours and a nearly 5% loss over the past week. 

Featured image from CNBC, chart from TradingView.com 

On-chain data shows the Bitcoin short-term holders are massively in loss, with just 3.2% of their supply sitting on some unrealized profit.

Vast Majority Of Bitcoin STH Supply Is In The Red

As pointed out by CryptoQuant community analyst Maartunn in an X post, the Bitcoin short-term holders as a whole are currently facing an underwater situation. The “short-term holders” (STHs) here refer to BTC investors who purchased their coins within the past 155 days.

Statistically, the longer an investor holds onto their coins, the less likely they become to move or sell them in the future. Since the STHs have a relatively short holding time, they may be considered to consist of the weak side of the market. The diamond hands are represented by the “long-term holders” (LTHs), who have been holding since longer than 155 days.

As the below chart shows, the Bitcoin STHs currently hold a total of 5,198,409 BTC in their balance.

It’s also visible in the graph that in terms of the trend, the STH supply has been sliding down recently, meaning that coins have been maturing into the LTH cohort. In other words, HODLing sentiment has been rising among holders alongside the market downturn.

While the STH supply has declined, its loss concentration has been maintained at high levels, as the Supply in Loss metric shows.

The Supply in Loss measures, as its name suggests, the percentage of the BTC supply that’s being held at some net unrealized loss right now. The indicator determines this by going through the on-chain history of each coin to find its last transaction price/cost basis.

Coins with an acquisition value higher than the latest spot price are put in the loss category. Another indicator called the Supply in Profit tracks the coins of the opposite type: those with a cost basis lower than BTC’s current value.The bearish market action in recent months has resulted in the Supply in Loss shooting up for the STHs, with its value today hitting the 96.8% level. At the same time, the  Supply in Profit has naturally plummeted, shrinking down to just 3.2%.

In some other news, a very old LTH has shifted their coins during the past day, as Maartunn has highlighted in another X post.

These tokens were held for more than ten years before being involved in this transaction, suggesting that either some lost coins have been rediscovered or a very resolute investor has decided to break their silence.

BTC Price

At the time of writing, Bitcoin is floating around $66,600, down over 6% in the last seven days.

Ethereum is testing $2,000. The market is uncertain. And a few hours ago, one institution decided that uncertainty was the right time to commit another $340 million.

Data from Arkham Intelligence has identified a transaction that stands in direct contrast to the current market mood: Bitmine staked an additional 167,578 ETH — approximately $340 million — within the last several hours. This was not a purchase. It was a commitment. Staking ETH means locking it, removing it from circulation, and declaring that it will not be sold. At $2,000, during a period when most market participants are questioning whether that level holds, Bitmine chose to deepen its position rather than reduce it.

The cumulative context makes the move even more consequential. It is a structural bet on Ethereum’s long-term value, built transaction by transaction, at prices the broader market has treated as a reason to hesitate.

Every ETH that Bitmine stakes is ETH that cannot be sold. At $2,000, with exchange supply already contracting, that distinction matters more than it would at any other point in the cycle.

One Institution Is Not Waiting for the Recovery. It Is Funding It

Bitmine’s latest transaction of 167,578 ETH brings its total staked position to 3,310,221 ETH, now valued at approximately $6.72 billion. That figure is not a portfolio allocation. It is an institutional declaration made across multiple transactions, at multiple price points, through one of the most difficult periods Ethereum has experienced in recent memory. Each stake was a choice. Together, they form an argument about where ETH goes from here.

The market Bitmine is betting on is fragile. Ethereum is navigating a delicate price level around $2,000 — a zone that has absorbed significant selling pressure and is now attempting to form the base of a recovery. The broader market is trying to stabilize after months of sustained downside, and every session at this level is a test of whether buyers have enough conviction to defend it against renewed pressure.

Bitmine has answered that question for itself. $6.72 billion in staked ETH is the most unambiguous expression of conviction available in this market. The only question left is whether the price eventually agrees.

Ethereum Tests Macro Support as Structure Weakens

Ethereum is trading near the $2,000–$2,100 region, a level that now acts as a critical macro support after the recent breakdown from the $3,000 range. The weekly chart shows a clear shift in structure, with ETH failing to hold above the 50-week and 100-week moving averages, both of which are beginning to flatten and turn into resistance.

The rejection from the $3,500–$4,000 region marked a decisive loss of bullish momentum, followed by a sharp move lower that tested the 200-week moving average, currently sitting below the $2,000 level. Price has since bounced slightly, but remains compressed just above this long-term trend indicator.

This positioning is important. Historically, the 200-week moving average has acted as a strong support during corrective phases. Holding above it would suggest that Ethereum is undergoing a deep retracement within a broader uptrend. Losing it, however, would signal a structural breakdown with potential for extended downside.

Volume spikes during the selloff point to capitulation or forced liquidations, while the recent stabilization indicates that selling pressure is being absorbed, but without clear bullish expansion.

Structurally, Ethereum is at an inflection point. A reclaim of $2,500 would shift momentum, while sustained weakness below $2,000 would expose lower liquidity zones.

Featured image from ChatGPT, chart from TradingView.com 

Daily transaction volumes for JPMorgan’s blockchain-based payment system are approaching $10 billion as the bank expands its reach into the industrial sector.

The financial giant is rebranding its suite of digital asset services under the name Kinexys, moving away from the previous Onyx label.

This shift comes as the bank integrates major global corporations into its private network to handle massive cross-border capital flows.

Among the latest to join is Mitsubishi Corporation, the Japanese conglomerate with vast interests in energy, mineral resources, and retail.

Instant Settlement Replaces Traditional Banking Delays

The partnership with Mitsubishi focuses on the mechanical reality of moving money between different countries and currencies.

Traditional banking systems often require several days to clear international transfers because they rely on a complex web of correspondent banks.

Reports indicate that Mitsubishi will use the Kinexys platform to reduce these settlement times to roughly two minutes. This allows the company to manage its liquidity in real-time rather than waiting for manual processing across different time zones.

Mitsubishi to adopt JPMorgan blockchain service for fund transfers https://t.co/JSpkFZx3Xb

— Nikkei Asia (@NikkeiAsia) March 30, 2026

The system operates 24 hours a day, providing a level of constant availability that standard wire services cannot match.

Data shows that the platform has already handled more than $1 trillion in total volume since it began operations. By moving the “plumbing” of finance onto a shared digital ledger, the bank claims it can eliminate the friction that typically slows down corporate treasuries.

Mitsubishi intends to use the technology to streamline its global supply chain payments. This involves coordinating funds across dozens of subsidiaries and international partners.

Instead of keeping large amounts of cash sitting idle in various accounts to cover pending transfers, the company can deploy its capital more effectively.

Tokenized Assets Beyond Simple Cash Transfers

The expansion of the Kinexys brand signals a move into more complex financial products. While the initial focus was on moving US dollars and Euros, the bank is now introducing “Kinexys Digital Assets.”

This feature allows users to represent physical or financial assets as digital tokens on the blockchain. For a company like Mitsubishi, this could eventually mean tokenizing everything from cargo shipments to private credit agreements.

Reports note that this capability makes it easier to track ownership and trade assets without the heavy paperwork usually required in industrial commerce.

Going Blockchain

Officials said the platform is also adding a “Labs” feature to help clients build their own custom tools on top of the existing infrastructure. This is part of a broader push to make blockchain technology a standard part of the corporate back office.

Even though the technology is decentralized in its design, it remains under the strict control of the bank. This ensures that every participant is verified and every transaction meets international regulatory standards.

This ensures that every participant is verified and every transaction meets international regulatory standards. The goal is to provide the speed of a cryptocurrency network with the safety and oversight of a regulated multitrillion-dollar bank.

Featured image from The Equinix Blog, chart from TradingView

Cardano founder Charles Hoskinson has launched one of his most direct attacks yet on Ripple and its CEO Brad Garlinghouse, accusing the payments company of engineering the CLARITY Act to eliminate competition while shielding its own interests. 

The remarks were delivered during Hoskinson’s most recent weekly rollup on YouTube, where he laid out what he believes is a deeper issue surrounding the bill and how it could change competition across the crypto sector.

Hoskinson Accuses Ripple Of Playing Dirty

According to Charles Hoskinson, the CLARITY Act, in its current form, was crafted with Ripple’s fingerprints on it. He is of the notion that the bill’s structure would classify most digital assets as securities by default, forcing projects to fight their way out of that designation through a regulatory process he warned the SEC could easily weaponize. “They’re trying to pass a bill that hurts the entire ecosystem while they get protected,” he said.

As noted by Hoskinson, if the CLARITY Act is passed, projects would need to prove otherwise, effectively placing the burden of defense on developers and startups from the outset.

Open-source contributors could face legal risks even when they are not directly responsible for how their code is used. He pointed to the legal exposure faced by developers connected to Tornado Cash as an example of what could become standard practice if the CLARITY Act passes in its current form. 

He also flagged the removal of existing protections for DeFi developers as a provision that would send a chilling signal across the entire community of crypto developers. 

Cardano Founder Says XRP Community Is Incapable Of Critical Thinking

Hoskinson also reserved some of his remarks for members of the XRP community. He accused Ripple directly of conducting a sustained campaign of layer after layer of marketing and propaganda. Furthermore, years of social media consumption, cable news, and yellow journalism have left segments of the XRP community with an inability to think critically. 

Hoskinson has been building this argument over several months, and his recent statements tie into a broader pattern of criticism against Ripple and the CLARITY Act. 

Back in early March, he noted that the CLARITY Act’s structure effectively labels everything as a security first, creating a system where only a few projects will be spared. He suggested that XRP could be among the assets that receive more favorable treatment under the framework proposed by the CLARITY Act.

His criticism against Brad Garlinghouse has also been very persistent. A notable example is during a January 2026 livestream where he questioned why the Ripple CEO is supportive of advancing the bill despite its perceived flaws.

Polymarket odds of the CLARITY Act being signed into law in 2026 have now fallen to 51%, down from above 78% in early March, following Coinbase’s opposition to a stablecoin yield compromise and the departure of crypto czar David Sacks from his role.