Plus: Is stablecoin regulation a win or a trap?
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We're kicking off today's squeeze with something extra juicy: BitDegree's $30K Season 7 Airdrop is live!
Earn Bits by simply answering questions and completing micro tasks - they'll decide your $$ share of the prize pool when the Season ends on April 30.
Oh, and to make it even sweeter, Uphold's adding an extra 1,000 USDC to the mix - but only until March 24.
No time to waste! Soo... you in or what? 😏
GM. Some days, the market’s a fruit basket; today, it’s a fruit fight. We’ve dodged the bruises to bring you the tastiest pieces.
⚖️ The GENIUS Act.
🍋 News drops: US lawmaker who isn't feeling the strategic crypto reserve, UK crime officer who committed crime + more
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🍍 Market flavor today
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| Crypto Market Cap: $2.75T 3.17% (24H) | ||||
| Name | Price | 24H | 7D | |
|---|---|---|---|---|
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Bitcoin BTC | $84,135.28 | 3.97% | -5.02% |
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Ethereum ETH | $1,908.93 | 1.86% | -13.48% |
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XRP XRP | $2.34 | 2.21% | -4.43% |
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BNB BNB | $581.25 | -0.11% | -3.70% |
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Solana SOL | $131.04 | 5.37% | -10.02% |
| Prices as of 11:00 AM EST. Click here to see live data. |
Fear is back on the menu, y'all.
But Trader Jelle’s got his eyes on the Pi Cycle Top indicator (a tool that has a scary good track record of predicting Bitcoin’s peaks) - and it’s not even close to flashing a warning yet.
Translation: BTC still has plenty of room to grow.
Before that happens, tho', it's gonna need to break through big fat resistance levels at $84K and $90K. And even before reaching those, BTC first has to reclaim $83.7K (its 200-day moving average).
Without that, any breakout’s gonna be wobbly at best.
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There’s one thing working in Bitcoin's favor: the market might finally be done panicking.
Bitwise’s André Dragosch thinks we've hit peak US economic uncertainty - so bad news just isn't freaking people out as hard anymore cuz they got used to it.
Translation: the worst has prolly already been priced in, and that's usually a bottom signal.
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Investor Lark Davis thinks Bitcoin could rally in late April or early May - if the right conditions fall into place:
M2 increases = more money in circulation = extra cash that could find its way into crypto;
Inflation cools down, interest rates drop;
New crypto ETFs launch;
Global tensions ease (the Russia-Ukraine war and trade disputes).
But it’s far from guaranteed. If macro issues don't get resolved, Bitcoin doesn’t react as expected to money supply changes, or a recession kicks in - investors may hesitate to take on risk.
So yeah, the short-term is uncertain. Long-term, tho'? Bitcoin is growing:
Deutsche Bank says a US Strategic Bitcoin Reserve could set a global trend - and in that case, VanEck predicts Bitcoin could hit seven figures;
Russia’s using it for trade deals with China & India;
Public companies are increasingly investing in BTC:
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Basically, BTC’s still got some homework to do before it graduates, but the big picture is bullish 🎓
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🥝 Memecoin harvest
Your uncle, who called crypto stupid internet money, is sweating after seeing these gains... (Except when it comes to memecoins - yeah, he might’ve been right. But who cares) 👀
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Check out these memecoins and plenty more here.
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🧠 How genius is it?
After last week’s White House Crypto Summit, one thing is clear: the US government sees stablecoins as their secret sauce for keeping the dollar king of the world 👑
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And this time, it wasn't an all bark, no bite type of thing.
Case in point: the GENIUS Act passed the Senate Banking Committee with an 18-6 bipartisan vote.
Yes, it still has to pass through Congress and get signed into law. But it's closer than ever.
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If the GENIUS Act becomes law, it’ll finally set some clear rules for how stablecoin issuers operate:
Smaller issuers (under $10B market cap) will be regulated at the state level, while the big dawgs over $10B (Tether and Circle) will be handled by the FED & OCC;
Issuers will have to be 100% transparent about their reserves and report their liquidity every month;
Maintain a strict 1:1 backing with US dollars or other super liquid assets;
Fulfill redemptions on demand (aka, give you your money back when you ask). If they don’t, the Fed & OCC can shut them down or fine them;
AML and KYC rules are in full force.
This could be a big W for the industry. More clarity = more trust = more adoption 🚀
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But not everyone’s excited. SmarDex founder Jean Rausis says this bill isn’t just about better regulation - it’s about control.
His take: the US realized that stablecoins are basically a demand machine for the dollar. So, instead of fighting them, the government now wants to own them.
Why's that a problem? Cuz once stablecoin issuers start following strict government rules, regulators gain the power to freeze transactions whenever they want - basically turning them into a CBDC in disguise.
And what happens to issuers that don’t play by the rules? Well… just look at Tether in the EU. Non-compliance = getting crushed.
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He’s got a point - centralized stablecoins do hand regulators a ton of power.
But whether that’s good or bad depends on how you look at it.
Some argue that clear rules help stablecoins integrate into TradFi, which could be a net positive;
Others see it as a threat to financial privacy.
Crypto is maturing, so the real battle is no longer about whether regulation is coming - but about how much freedom will be left once it inevitably does.
I guess we'll find out soon enough.
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Now you're in the know. But think about your friends - they probably have no idea. I wonder who could fix that... 😃🫵 Spread the word and be the hero you know you are! |
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🍋 News drops
😡 Michigan Rep. Gerald E. Connolly wants the US Treasury to ditch the idea of a strategic crypto reserve. He called it useless for the American people and just a money printer for the president and his donors.
🚮 Vermont dropped its case against Coinbase’s staking services. The SEC has dropped theirs + new federal rules are on the way, so the state was like, why fight a battle that’s already over?
⚖️ The guy behind AML Bitcoin was found guilty of wire fraud and money laundering. He raised $2M through an ICO, never launched the coin, and blew the money on houses and luxury cars.
👮♂️ Paul Chowles, a UK crime officer, is accused of stealing 50 Bitcoin during an investigation. Kinda like a firefighter starting fires.
🐛 Ethereum devs are launching a third testnet, Hoodi, after the first two testnets tripped over some bugs. The Pectra upgrade is now delayed until at least late April.
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🍌 Juicy memes
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