Summary
gm, Bitcoin dropped below $80,000 and is experiencing its worst weekly candle ever. This downturn has been attributed to various factors, including President Trump's acknowledgment of potential short-term economic pain from his policies and increased recession fears, with JPMorgan raising its recession risk estimate to 40%. The broader market has followed suit, with major altcoins like Ethereum and Dogecoin seeing double-digit percentage losses. Despite the bearish sentiment, some positive developments include BBVA receiving approval to offer Bitcoin and Ether trading in Spain, and the Singapore Exchange planning to launch Bitcoin perpetual futures in the second half of 2025, signaling continued institutional interest in the crypto space.

News Headlines
💼 Strategy to Raise $21B for Bitcoin Purchases

  • Michael Saylor's Strategy aims to raise up to $21 billion through a new "ATM Program" to purchase more Bitcoin.
  • The company plans to issue and sell shares of its 8% Series A perpetual strike preferred stock for Bitcoin acquisitions.

📊 Crypto ETPs See 4th Straight Week of Outflows

  • Cryptocurrency exchange-traded products experienced $876 million in outflows during the last trading week.
  • Total outflows have reached $4.75 billion in the past four weeks, significantly affecting year-to-date inflows.

🌐 Web3 Thrives in India Despite Regulatory Challenges

  • India's share of global Web3 developers has risen from 5% to 12% in the past decade.
  • Investment in the Indian Web3 sector increased by 224% in 2024.

📉 Bitcoin Slides to $80K as Market Fears Recession

  • Bitcoin has dropped over 3%, raising concerns about a potential crash towards $75,000.
  • Traders are closely monitoring exchange order books, where significant liquidation levels are stacked.

💼 Coinbase to Launch 24/7 BTC, ETH Futures in US

  • Coinbase plans to offer 24/7 trading for Bitcoin and Ether futures to US residents.
  • The exchange will also introduce perpetual futures trading, allowing for indefinite contract durations.

Market Metrics

Fundraising & VC
1. Lagom Chain (Undisclosed, $200K) - EVM-compatible Layer 1 blockchain
2. Balmy (Strategic, Undisclosed) - Decentralized banking platform
3. YieldNest (Strategic, Undisclosed) - ETH restaking yield optimizer powered by EigenLayer

On-chain Data
1. Aptos (APT) token unlock in 1 day ($60.65M, 1.92%)
2. Sei Network (SEI) token unlock in 4 days ($40.99M, 4.72%)
3. Arbitrum (ARB) token unlock in 5 days ($30.51M, 2.1%)
4. ApeCoin (APE) token unlock in 6 days ($7.39M, 1.95%)

Regulatory
🏛️ US Stablecoin Bill Advances in Senate

  • The Senate Banking Committee will vote on the updated GENIUS Act, a framework for regulating stablecoins, on March 13.
  • The bill now includes enhanced consumer protections and favors US-issued stablecoins over foreign ones.

🏦 SEC Considers Abandoning Crypto Exchange Registration Rule

  • Acting SEC chairman Mark Uyeda is considering dropping a proposed rule that would require crypto firms to register as exchanges.
  • This shift indicates a potentially more lenient approach towards crypto regulation under new SEC leadership.

🚨 California Regulator Warns of New Crypto and AI Scams

  • The California Department of Financial Protection and Innovation reported a rise in complaints about seven new types of crypto and AI scams in 2024.
  • Scams include fake Bitcoin mining schemes, fraudulent crypto gaming schemes, and deceptive job offers requiring crypto transfers.

💼 Texas Senate Passes Bitcoin Reserve Bill

  • The Texas Senate passed a bill aimed at adding Bitcoin to the state's balance sheet as a strategic reserve.
  • If signed into law, Texas would become the first US state to establish a digital asset reserve.

🌐 EU Officials Concerned About Trump's Crypto Push

  • European finance officials warn that Trump's support for cryptocurrencies could undermine Europe's monetary sovereignty and financial stability.
  • There's a push to expedite the digital euro's development to safeguard Europe's strategic autonomy.

Technical Analysis
Bitcoin - Investors have accepted lower prices over time to get out of Bitcoin and the currency is in a falling trend channel in the short term. This signals increasing pessimism among investors and indicates further decline for Bitcoin. There is no support in the price chart and further decline is indicated. In case of a positive reaction, the currency has resistance at 92300 points. The currency is assessed as technically negative for the short term.

Ethereum - Ethereum has broken the falling trend channel down in the short term. This signals an even stronger falling rate. There is no support in the price chart and further decline is indicated. In case of a positive reaction, the currency has resistance at 2750 points. Negative volume balance indicates that sellers are aggressive while buyers are passive, and weakens the currency. The currency is overall assessed as technically negative for the short term.

Governance & Code
⚡ dYdX DAO | Set `next_block_delay` to 400ms (227) (Active Vote)
- This proposal aims to adjust the next_block_delay parameter to 400ms.

🦄 Uniswap DAO | Treasury Delegation Round 2 (Preliminary Discussion)
- This proposal suggests allocating 10 million, 15 million, or 20 million UNI, distributed across two cohorts of delegates, with elections held two months before their delegation periods expire.

💧 Lido DAO | Re-endorsement of wstETH on Starknet (Preliminary Discussion)
- The Starknet Foundation has proposed that the Lido DAO re-endorse the wstETH bridge endpoints as canonical following a completed migration from the legacy wstETH to the new wstETH.