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Strategy Adds 130 BTC, Remains Shy of 500K Bitcoin Milestone

Okoya David
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Strategy Adds 130 BTC, Remains Shy of 500K Bitcoin Milestone

The world’s largest corporate holder of Bitcoin, Strategy, formerly MicroStrategy, has unveiled yet another purchase of the digital asset.

On Monday, March 17, Strategy disclosed that between March 10 and March 16, it had purchased 130 BTC worth $10.7 million at an average price of $82,981 per Bitcoin, including fees and expenses.

The latest purchase brings the firm’s total Bitcoin holdings to 499,226 BTC, acquired for $33.1 billion at an average price of $66,360 per Bitcoin. The firm remains shy of the 500,000 BTC milestone, which many anticipated it would hit this week. Still, the firm’s already outsized Bitcoin holdings account for nearly 2.4% of the total 21 million Bitcoin supply.

https://x.com/saylor/status/1901606324447646170?t=H3nqqI0vvlfGzYdkxVpVNw&s=19

Strategy funded its most recent Bitcoin purchase by selling 123,000 shares of its preferred stock offering, STRK. The sale is part of the firm’s plan to raise $21 billion to buy Bitcoin by selling 8% of its preferred stock announced on March 10. Following last week’s sale, the firm still has $20.99 billion worth of STRK available for sale.

Overall, the firm intends to purchase $42 billion worth of the leading digital asset between now and 2027.

Strategy Chairman Michael Saylor has suggested that the U.S. government adopt a similar Bitcoin accumulation strategy, arguing that it would allow it to clear its debt and generate capital.

Strategy’s continued Bitcoin purchases come despite recent uncertainty that has left the market risk-off. The asset has dropped nearly 24% from January 2025 all-time highs of $109,600 to trade around $83,300 at the time of writing.

London Fund Manager Explains Why XRP Price Isn’t Rising Despite Adoption from Banks

Abdulkarim Abdulwahab
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London Fund Manager Explains Why XRP Price Isn’t Rising Despite Adoption from Banks

The XRP price action has continued to puzzle investors, with many questioning why it hasn’t surged despite growing institutional use.

Notably, XRP is trading at $2.33, down 2.54% over the past day and 20% in the last eight weeks.

Why XRP Price Isn’t “Moving”

DigitalG, a former City of London fund manager, took to X to address the concerns emanating from this downtrend. He suggested that the answer to XRP’s price performance lies in Ripple’s two-ledger system. This refers to the company’s simultaneous use of the public XRP Ledger (XRPL) and a private version used by banks.

According to DigitalG, financial institutions may be acquiring large volumes of XRP through the private ledger. This ledger caters to Central Bank Digital Currencies (CBDCs) services and institutional payments.

Unlike the public XRPL, this private ledger operates with restricted access, controlled visibility, and centralized governance, potentially keeping transactions off the open market.

DigitalG claims that this distinction could be masking the true value of XRP, as institutional demands do not reflect in public exchange prices. “Some regulators could suggest it is fraudulent to conceal the true price of an asset,” he warned.

Meanwhile, a community member challenged this view, arguing that XRP’s price isn’t particularly impressive because so many retail investors hold it. According to him, XRP “was never really designed for small investors to hold.” This commentator suggested that institutions would first try to price out retail investors before sending XRP’s price soaring.

In response, DigitalG asked the commentator to imagine selling an asset for $2.30 when its true value was actually $15,840—yet that value was concealed from the general public.

Ripple’s Private Ledger and XRPL “to Merge” and Boost XRP Price

Meanwhile, in his commentary, DigitalG speculated that the private ledger Ripple controls and the public XRP Ledger will merge on July 14, which, in his view, could drive a significant market shift for XRP.

However, this bold claim has raised eyebrows among community members, particularly as it carries a specific date for implementation. Meanwhile, DigitalG failed to provide a reliable source to back the claim.

When pressed for the source, DigitalG cited a reference that suggests the Fedwire Funds Services will implement ISO 20022 on the said date. How this specifically relates to Ripple and the XRP Ledger remains unclear, and community members have noted this misalignment.

Dogecoin Well Poised for a 281% Surge to $0.6542: Analyst

Elendu Benedict
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Dogecoin Well Poised for a 281% Surge to $0.6542: Analyst

Dogecoin has held crucial support, and analysis suggests the meme coin could be well on its way to a strong rebound near its all-time high.

After months of steep price retracements, the prominent meme coin has found solace at a major support area. Before now, Dogecoin had faced intense downside pressure, correcting 64% from its three-year peak of $0.4846 in December.

However, the asset has recently shown momentum, bouncing 17% from a low of $0.1432 last week to close at $0.1677. Interestingly, the rebound saw DOGE form a dragonfly doji candlestick, fueling optimism of further upsides.

Dogecoin Showing Bullish Signs

Amid the recovery effort, an analysis from Rose Premium suggests Dogecoin looks primed for a dazzling uptrend to higher prices. In a TradingView idea, the market watcher identified the building bullish momentum on the asset’s price chart.

The commentary highlighted that Dogecoin shows signs of a possible breakout from a multi-month falling wedge. The bullish structure started developing after the meme coin’s surge to $0.4846 in December, with DOGE’s recent defense of the $0.14750 support spurring an uptrend toward the tip of the channel.

While Rose Premium stressed the importance of holding the support line, the analyst emphasized that continuing the bullish momentum could spur a meteoric surge to $0.6542. The commentary marked the price mark, 281% away from Dogecoin’s current price at the final target, with take profit (TP) points 1 and 2 at $0.4638 and $0.5534, respectively.

Dogecoin to $06542 per Rose Premium
Dogecoin 1W Chart | Rose Premium

Analysis Confirms Bullish Momentum

Meanwhile, another analyst confirmed that Dogecoin has reached and held a crucial support area. Market commentator Mayambours’ TradingView chart exposition shows that the doggy-themed token trades at the bottom of a parallel channel on the weekly timeframe.

With the support disrupting downward pressure, she noted that Dogecoin could resume an uptrend. While the analysis did not mention a specific price target, it suggests a push to higher prices for quarterly investments.

Moreover, Dogecoin has broken out from a resistance trendline as predicted by analyst Trader Tardigrade, and it could be all up from here for the token. In the meantime, DOGE trades at $0.1718, up 2.44% in the past 24 hours.

Dormant Whales and Miners Cash Out Bitcoin: Is $75K Next?

Albert Brown
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Dormant Whales and Miners Cash Out Bitcoin: Is $75K Next?

Hovering near $83K, Bitcoin signals a potential downswing as whales and miners cash out. Will BTC price test $75K?

Fluctuating near $83,000, Bitcoin is at a crucial crossroads. Following a 2.12% pullback on Sunday, Bitcoin posted an intraday gain of 0.83% to start the week.

However, the intraday recovery comes as a potential retest of a broken trendline. Will this lead to a post-retest reversal in Bitcoin towards the $75,000 mark?

Dormant Whale Books $85M Profit in Bitcoin 

As Bitcoin hangs in the balance, a crypto whale has booked profits after nearly 1.5 years of dormancy. According to SpotOnChain, the crypto whale has marked a profit of $85.7 million after depositing 300 BTC on FalconX. The deposit is worth nearly $25.1 million.

The whale had purchased 1,500 BTC from Cumberland on August 18, 2023, at an average cost of $26,353. This was worth nearly $39.5 million then. 

Now, the entity has taken a shift in its trading strategy, transferring massive amounts of BTC. The whale moved to cash out $25.1 million in Bitcoin as it trades near $83K.

Following the transfer to the exchange, the whale moved 1,050 BTC worth $87.2 million to two new wallets. Finally, the 150 BTC remains in the original wallet worth $12.5 million. 

Analyst Spots $27M Cash Out Move by BTC Miners

Along with the crypto whale, Ali Martinez highlights the massive spree of profit booking in Bitcoin miners. According to the analyst, BTC miners have cashed over $27 million in profit. 

This is based on data from CryptoQuant, highlighting early miners realized profit in USD. The indicator highlights a significant spike this month.

Will Bitcoin ETFs Mark Another Week of Outflow?

As Bitcoin stands on thin ice, institutional support continues to decline. In a weekly time frame, the U.S. spot Bitcoin ETFs recorded five consecutive weeks of outflow. 

Bitcoin ETFs
Bitcoin ETFs

In February, U.S. spot BTC ETFs recorded an outflow of $3.56 billion. The current outflow in March has risen to $1.67 billion. Since February 6, the U.S. spot Bitcoin ETFs have recorded just four days of inflows. 

As rising outflows in U.S. spot Bitcoin ETFs continue, the possibility of another negative weekly performance increases. This could influence the subsequent downfall in Bitcoin prices.

Bitcoin Price Analysis Warns Post-Retest Reversal

In the daily chart, the BTC price trend showcases a lower price rejection that is gradually gaining momentum. The recovery in Bitcoin is sustaining above the 61.80% Fibonacci level at $81,855. 

BITSTAMP:BTCUSD Chart Image by Trojan69420

Based on the Bollinger Bands, the recovery in Bitcoin has bounced off from the lower band to the 20-day SMA, acting as the midline. Furthermore, the positive crossover in the MACD and signal lines support the possibility of a bullish comeback.

However, the recovery run is a potential retest of the broken support trendline. This warns of a potential downfall to the 50% Fibonacci level at $75,533.

On a bullish front, analyst Ali Martinez highlights the possibility of a breakout move in Bitcoin. Highlighting an ascending triangle pattern, the analyst anticipates a price surge of nearly 8%. Based on the Fibonacci levels, this could reach the 78.60% Fibonacci level near $91,780. 

Cardano Struggles at $0.70 as Whales Dump: Will ADA Dip to $0.50?

Albert Brown
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Cardano Struggles at $0.70 as Whales Dump: Will ADA Dip to $0.50?

Cardano floating above $0.70 could retest $0.53 as whales dump ADA amid price uncertainty. 

As Bitcoin fluctuates near $83,000, Cardano struggles to hold the fort at $0.70. Witnessing the sideways shift over the weekend, the short-term dominance at the $0.70 psychological mark leads to a consolidation range. 

However, the recent surge in whale activity raises concerns of a potential downturn. Will this lead to an ADA price drop to $0.53?

Cardano Price Consolidation Warns Sharp Move Ahead

On the daily chart, Cardano’s price trend shows a consolidation range between the 38.20% and 50% Fibonacci levels, which are at $0.6673 and $0.7746, respectively.

COINBASE:ADAUSD Chart Image by Trojan69420

Currently, Cardano is trading at $0.7219, with an intraday recovery of 2.44%. This counters the evening star pattern formed by a 5.61% drop on Sunday.

As the sideways trend continues, technical indicators remain neutral. The Bollinger Bands are moving sideways, while the MACD and signal lines are near the zero line. However, the negative alignment of the average lines warns of a potential bearish outcome.

Cardano Whales Exit Amid Uncertainty

Amid the uncertain Cardano price trend, ADA whales are cashing out. According to crypto analyst Ali Martinez, the past week has seen a major shift in Cardano whale holder value. 

Based on the data from Santiment, the analyst highlights whales selling 100 million ADA tokens in the past week. This has reduced the holding value of addresses with 1 million to 10 million ADA tokens to 5.89 billion.

Image
Santiment chart

ADA Price Targets 

As the exit of whales signals a potential breakdown of the consolidation range, the Fibonacci levels point to a price target at the 23.60% level. This crucial Fibonacci level aligns with the long-term support trendline and is slightly above the $0.50 psychological mark.

On a bullish note, a potential recovery above the 50% Fibonacci level at $0.7746 would mark a significant buying opportunity, potentially pushing the price towards the $1.00 psychological level.

Top Asset Manager 21Shares to Liquidate Bitcoin and Ethereum Futures ETFs: Here’s Why

Albert Brown
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Top Asset Manager 21Shares to Liquidate Bitcoin and Ethereum Futures ETFs: Here’s Why

Prominent asset manager 21Shares has announced the liquidation of two crypto futures ETFs focused on Bitcoin and Ethereum.

Per a recent press release, the move aligns with the firm’s ongoing efforts to adapt to market conditions. Additionally, the firm wants to address client needs and respond to changes in the digital asset landscape. The affected ETFs include:

  • ARK 21Shares Active On-Chain Bitcoin Strategy ETF
  • ARK 21Shares Active Bitcoin Ethereum Strategy ETF.

Notably, the liquidation process will occur at the end of March 2025, with final trading occurring on March 27, 2025. Meanwhile, shareholders will have the opportunity to sell their holdings in the two funds before the close of trading on March 27, 2025. Those who opt to sell before this date may incur standard brokerage fees. 

Moreover, any remaining shares on the liquidation date, March 28, 2025, will be converted into liquidating distributions. The value of these distributions will reflect each shareholder’s proportionate interest in the ETF at that time. The firm has advised investors to prepare for these changes in advance to minimize potential disruptions.

Tax Considerations for Shareholders

Investors who receive liquidating distributions may face tax implications depending on their individual circumstances. Specifically, the liquidation process could result in either a capital gain or loss based on the net asset value of the shares at the time of distribution.

As a result, 21Shares encouraged shareholders to consult with tax professionals to determine their tax liabilities. 

Strategic Direction and Market Adaptation

The liquidation reflects an effort to streamline offerings in response to evolving market conditions. 21Shares continues to assess its product suite to align with broader industry trends and client demand.

While these two ETFs will be removed from 21Shares’ portfolio, the firm remains to advance crypto investment solutions within regulated frameworks. 

Investors affected by this transition are advised to stay informed about alternative options available in the market. The company has stated that these changes are part of a broader strategic effort to refine its digital asset investment offerings.

Lara Trump Champions Bitcoin on Fox Show as President Pursues Crypto Reserve

Okoya David
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Lara Trump Champions Bitcoin on Fox Show as President Pursues Crypto Reserve

Lara Trump dedicates her highly rated Fox weekend show My View to Bitcoin and cryptocurrencies.

As President Donald Trump’s administration pursues plans to establish a strategic Bitcoin reserve, one influential member of the Trump family appears to be wetting the ground.

On Saturday, March 15, Lara Trump, the president’s daughter-in-law, dedicated her highly rated Fox weekend show My View to Bitcoin and crypto. She interviewed proponents like Strategy Chairman Michael Saylor and Kevin O’Leary in what appeared to be a concerted effort to convince viewers of the asset’s value and the need for the U.S. to hold a crypto reserve.

During separate interviews, Saylor and O’Leary hailed Bitcoin as digital gold and the ideal currency for the digital age. To crypto skeptics, O’Leary asserted that “the cowboy era” of crypto was dead.

“The crypto cowboys are in jail or out of business. So now we’re in a new phase,” O’Leary said.

He explained that Trump has put forward a new tone and will provide regulations to allow crypto to integrate with the financial institutions of America.

“It’s going to become a payment system, an investment vehicle. It will become part of all of the sectors of our economy. We have 11 sectors. Eventually, I believe crypto will be the 12th,” O’Leary enthused.

Banks and Insurance Firm Will Adopt Bitcoin

Meanwhile, Saylor argued that Bitcoin will become more accessible in the future, with small businesses able to leverage it to store value and raise capital.

“They’re going to let you hold your Bitcoin on your iPhone and Android phone. It will find its way into Microsoft, Amazon, Google, and Apple software. Banks are going to embrace Bitcoin and give you a loan against it. Insurance companies will start to support Bitcoin,” he asserted.

The Strategy executive further cited Trump’s Bitcoin reserve plans and broader crypto regulation posture as the answer to how the U.S. can lead in crypto.

Offering an overview of these interactions, Lara Trump told her millions of viewers that America thrived when it embraced new ideas and technologies and fought to drive them. She added that if crypto fits the bill, the U.S. must embrace it with everything it has.

Stiff Resistance

Lara Trump’s recent Bitcoin education media blitz comes as Trump’s push for a strategic Bitcoin reserve. Meanwhile, the move faces fierce resistance despite plans to ensure it will come at no cost to taxpayers.

In a March 13 letter, the House Committee on Oversight and Government Reform urged Treasury Secretary Scott Bessent to cease all efforts to create a strategic crypto reserve. The committee argued that the reserve offered no benefits to Americans “but would significantly enrich the President and his donors.”

Bitcoin Whale Who Opened $420M Short Position Sets Take Profit at $58K: Do They Know Something?

Elendu Benedict
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Bitcoin Whale Who Opened $420M Short Position Sets Take Profit at $58K: Do They Know Something?

The notorious whale who has made staggering returns by trading Bitcoin on Hyperliquid has survived a bull consortium to liquidate his $420 million position.

A whale wallet has recently been trending for its risky but highly rewarding trades. The user has made over $16 million in one month by trading Bitcoin, Ethereum, and Hype with insane leverages on Hyperliquid.

Meanwhile, on Saturday, the whale opened a new Bitcoin short position worth a staggering $332 million. Notably, this trade came despite the pioneering cryptocurrency’s recent bounce towards its 200-moving average above $84,000.

With Hyperliquid reducing its leverage limit from 50x to 40x due to a recent occurrence, the user used the highest leverage, opening the Bitcoin short position at an entry price of $84,040 and an initial liquidation price of $85,300. He placed his take profits at $69,414 and $58,664, raising questions within the crypto community.

Bull Consortium Hunts Whale’s Liquidation

Meanwhile, the current short position aggrieved a faction of whales, who formed an alliance to hunt the user’s liquidation price. Led by self-acclaimed “liquidity providor,” CBB, the band swung into action, driving Bitcoin’s price to $84,690 in a few hours through eight-figure purchases.

Max Brown, a prominent influencer, revealed purchasing $500,000 worth of Bitcoin (6.07 BTC) in a team effort to push prices to the whale’s liquidation.

Seeing the ploy, the whale took to adding margin to his open Bitcoin short position to avoid liquidation. Data shows that the user deposited 5 million USDC from Arbitrum to increase his liquidation price.

Whale Adding Liquidity

Nonetheless, the alliance failed to hunt down the 40x short position, as the asset has since dropped to $83,602, leaving the whale in profit. Interestingly, he has closed parts of the trade in profit through the TWAP strategy and currently holds $420 million with a PnL of $2.3 million.

Whales Current Portfolio
Whales Current Portfolio

The motivation behind its take-profit targets remains unclear, as BTC would need to drop by a massive 17% to hit the first target of $69,414 and by a substantial 30% to reach $58,664. Last month, market participants on prediction market Kalshi projected that BTC could drop to $58K this year.

Whale On MELANIA Long

While the whale is bearish on Bitcoin, it is surprisingly bullish on MELANIA, a meme coin tied to Melania Trump, the first lady of the United States. The address has a running 5x long position on the meme coin worth $387,536 at the time of writing.

Data indicates he opened the position at an entry price of $0.6913 with an undetermined liquidation price. Meanwhile, the whale is nursing a mild gain from the position, with MELANIA trading at $0.6944 at the time of writing.

Will Ethereum Price Test $1,700 as Whales Turn Bearish?

Albert Brown
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Will Ethereum Price Test $1,700 as Whales Turn Bearish?

Ethereum is facing increasing bearish pressure, signaling a potential momentum shift amid rising whale activity. Will this lead to a new downswing in ETH prices?

Struggling near the $1,900 mark, Ethereum begins a new week below $2,000 first since November 13, 2023. Amid the uncertain market trend, ETH price action has created a consolidation range.

With growing tension within the range and increasing whale movements, Ethereum is on the verge of a sharp move. Will this be a breakout run to $2,200, or will it retest $1,700?

Institutions Pulling Out of Ethereum ETFs

Over the last week, the weekly outflow from U.S. Ethereum spot ETFs was $143.13 million. This marks its third consecutive net weekly outflow. 

On March 14, the daily outflow was at $35.30 million. Since February 20, the U.S. Ethereum spot ETFs have recorded a single day of inflow on March 4. 

Ethereum ETFs
Ethereum ETFs

In the month of March, the outflows reached $262.96 million. Amid the rising outflows, the massive decline in institutional support warns of a potential breakdown in ETH price.

Declining Whale Holdings

As U.S. Ethereum spot ETFs record massive outflows, whales are also offloading ETH tokens. Crypto analyst Ali Martinez has highlighted a massive outflow of 130,000 ETH in the past week by crypto whales. 

This is based on data from CryptoQuant, which highlights the Ethereum balance by holder value. Over the past week, the wallets holding 1K to 10K ETH balances have dropped from 12.87 million to 12.74 million.

More Whales Turn Bearish on Ethereum

Adding to the bearish sentiments, a crypto whale has resurfaced in the market after three years of dormancy to sell Ethereum. The whale wallet sold 1,014 ETH worth $1.92 million earlier today.

Amid the long holding duration, the whale managed to book a profit of just $126,000 despite recent price declines. The whale had acquired Ethereum at an average price of $1,771, with an unrealized profit of $2.3 million at the market peak.

Furthermore, a giant whale has opened up a short position in the ETH-BTC trading pair. The whale has withdrawn 3,644 cbBTC worth $304 million from Coinbase. 

Following the withdrawal, the whale deposited 3,034 cbBTC worth $253 million on Aave. Finally, the whale borrowed 79,638 ETH worth $152 million from Aave to deposit on Coinbase.

 

Ethereum in a Range Nears Key Resistance

As the bearish elements continue to resurface for Ethereum, the consolidation range in the 4-hour price chart remains intact. Currently, the short-term consolidation is approaching a resistance trendline in the center pivot level at $1,931. 

Ethereum Price Chart
Ethereum Price Chart

As the market sentiment remains bearish, the possibility of a breakout rally for Ethereum is quite limited. Furthermore, the resistance trendline has kept three bullish attempts in check, resulting in the downfall under the $2,000 mark. 

Currently, the $1,850 psychological mark acts as the crucial support level for the consolidation range. In case of a range breakdown, the crucial support for Ethereum is at $1,754.

On a bullish front, a breakout rally with the broad market recovery could challenge the 100-day EMA near the $2,083 mark.

Ripple Files Trademark for Crypto Custody as US Treasury Meets Industry Giants to Discuss Bitcoin Reserve Custody

Abdulkarim Abdulwahab
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0
Ripple Files Trademark for Crypto Custody as US Treasury Meets Industry Giants to Discuss Bitcoin Reserve Custody

Renowned crypto payment giant Ripple has filed for the “Ripple Custody” trademark with the USPTO, as listed in the Justia U.S. legal database.

Ripple submitted the application on February 25. XRP community figure, Crypto Eri, recently discovered the update, highlighting it in a post on X.

Details of Ripple Custody Trademark

Under this trademark, Ripple aims to offer downloadable software for the custody of crypto assets, virtual currency, and fiat currency. It also seeks to provide downloadable software for transmitting, storing, and managing these assets.

The filing also covers peer-to-peer network services for the electronic transmission of financial data related to custody and storage, as well as providing temporary, non-downloadable software for the custody, transmission, and storage of these currencies.

Moreover, this includes Software as a Service (SaaS) for managing and transferring cryptocurrency, fiat currency, and digital currency.

Image

Notably, this move comes several months after Ripple acquired the custody firm Metaco. Ripple is now progressing in its efforts to offer infrastructure services for institutions. 

XRP Army Reacts

This latest development by Ripple has sparked massive optimism among XRP community members.

X user Noah Christopher believes Ripple is making significant strides in expanding into crypto custody, storage, and payments. Christopher speculated that, with increasing regulations, a secure and compliant platform could be a game-changer. “Are they positioning for mainstream adoption?” he pondered.

Other community members have pointed out that including fiat currency makes it even more intriguing.

Meanwhile, X user BobbyB checked for further clues through Ripple’s Custody app, available on both Google Play and the Apple Store. He discovered that the app is an authenticator for signing transactions related to Ripple’s institutional crypto custody solution, not a wallet solution for end users.

Crucial Timing of Ripple Trademark Filing

Meanwhile, the timing of Ripple’s custody trademark filing is particularly notable. It comes at a time when the U.S. Treasury is discussing with leading crypto custody firms to determine how to manage the national Bitcoin reserve.

Treasury officials have reached out to Anchorage Digital and two other firms to explore ways to secure U.S. Bitcoin holdings and gather insights on best practices for managing large digital asset stockpiles.

At present, the Treasury favors third-party custody for immediate security. However, it plans to eventually transition to self-custody using cold storage and private keys.

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