Summary
gm, Bitcoin's price witnessed a notable drop below $80,000 due to macroeconomic concerns and trade policies introduced by President Trump, later stabilizing around $82,000. The rest of the cryptocurrency market also experienced downturns, with Ethereum and other major altcoins facing significant losses. Further stirring the market, Mt. Gox transferred $930 million in Bitcoin, igniting fears of potential market sell-offs. In a positive development for the crypto regulatory landscape, the U.S. House of Representatives voted to reject an IRS regulation that treats DeFi protocols as brokers, indicating a shift towards more favorable crypto regulations. Meanwhile, Coinbase is set to make a comeback in the Indian market, having secured the necessary regulatory nods, underlining continued institutional interest in cryptocurrencies. Elsewhere, Paraguay is moving towards cryptocurrency integration, with legislative approval pending to finalize regulations and taxation frameworks, alongside agreements to enhance monitoring of unlicensed crypto activities.

News Headlines
📉 Ethereum Price Struggles Amid ETF Outflows and Macroeconomic Concerns

  • Ether has fallen over 53% since December, struggling to overcome a near three-month downtrend due to macroeconomic concerns and ongoing selling pressure from US Ether ETFs.
  • Ether ETFs have experienced four consecutive weeks of net negative outflows, totaling over $119 million, influencing market sentiment and limiting price recovery.

💼 Cantor Fitzgerald Launches $2B Bitcoin Financing Business

  • Cantor Fitzgerald has announced a new bitcoin financing business with an initial financing of $2 billion.
  • The firm has partnered with Copper and Anchorage Digital to manage collateral and custody for this initiative.

🏦 Deutsche Boerse to Launch Bitcoin, Ether Institutional Custody

  • Deutsche Boerse's trading unit, Clearstream, will introduce cryptocurrency custody and settlement services for institutional clients in April 2025.
  • The services will initially focus on Bitcoin and Ether offerings, responding to rising demand for regulated digital asset infrastructure.

🧙‍♂️ Taproot Wizards to Launch Bitcoin Ordinals Collection

  • The Taproot Wizards Ordinals collection, consisting of 2,121 Wizard NFTs, is set to go on sale on March 25.
  • The sale will occur in two phases, with an allowlist offering NFTs for 0.2 BTC (approximately $16,340) and a subsequent Dutch auction.

🔄 Starknet to Settle Transactions on Both Bitcoin and Ethereum

  • Starknet, an Ethereum layer 2, plans to settle transactions on both Bitcoin and Ethereum to integrate these major blockchains.
  • The initiative aims to scale transactions from 13 per second to thousands, enhancing user experience through reduced blocks and gas fees.

Market Metrics

Fundraising & VC
1. Canaan (Post IPO, $100M) - Cryptocurrency mining hardware
2. Voltix (Undisclosed, $10M) - Decentralized computing platform
3. Rakurai (Seed, $3M) - High yield Solana staking platform
4. Arda (Pre Seed, $3M) - Real estate-focused operating system 
5. Sogni.ai (Pre Seed, $2M) - Decentralized AI platform

On-chain Data
1. Aptos (APT) token unlocked today ($57.64M, 1.92%)
2. Sei Network (SEI) token unlock in 3 days ($40.11M, 4.72%)
3. Arbitrum (ARB) token unlock in 4 days ($30.84M, 2.1%)
4. ApeCoin (APE) token unlock in 5 days ($7.74M, 1.95%)
5. Neon (neon) token unlock in 5 days ($6.64M, 22.51%)

Regulatory
🏛️ US House Votes to Overturn IRS DeFi Broker Rule

  • The U.S. House of Representatives voted to dismantle an IRS regulation classifying DeFi protocols as brokers.
  • Critics argued the rule would impose burdensome reporting requirements on DeFi developers and operators.

💼 SEC Delays Decision on XRP, Solana, Litecoin, Dogecoin ETFs

  • The SEC has postponed decisions on various crypto ETFs, including those for XRP, Solana, Litecoin, and Dogecoin.
  • The regulator stated it needs "a longer period" to evaluate the proposed rule changes for these ETFs.

⚖️ Senator Lummis Reintroduces BITCOIN Act for US Reserve

  • Senator Cynthia Lummis reintroduced the BITCOIN Act, allowing the US government to hold over 1 million Bitcoin.
  • The act directs the acquisition of 200,000 Bitcoin annually for five years using Federal Reserve and Treasury funds.

🌐 EU Watchdogs Scrutinize OKX Over Laundered Funds

  • EU regulators are investigating OKX regarding its potential involvement in laundering $100 million from the Bybit hack.
  • The inquiry focuses on OKX's decentralized finance platform and wallet service compliance with EU's MiCA framework.

🚨 California Shuts Down 26 Crypto Scam Sites

  • California authorities have shut down 26 fraudulent crypto websites linked to $4.6 million in consumer losses.
  • The state's "Crypto Scam Tracker" processed over 2,600 complaints involving various scam types in 2024.

Technical Analysis
Bitcoin - Bitcoin shows weak development in a falling trend channel in the short term. Falling trends indicate that the currency experiences negative development and falling buy interest among investors. The currency has support at points 80000 and resistance at points 92600. 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, but the negative development may result in corrections up in the short term. 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 shows that volume is higher on days with falling prices than days with rising prices. This indicates decreasing optimism among investors. The currency is overall assessed as technically negative for the short term.

Governance & Code
🌿 MetisDAO | Ecosystem Proposal: Invnex (Active Vote)
- This proposal aims to onboard Invnex, an RWA platform, into the Metis ecosystem.

🏆 Rarible DAO | RARI DAO Delegate Incentive Program
- This proposal requests $126,000 annually to establish the RARI DAO Delegate Incentive Program. 

🐒 ApeCoin DAO | ApeCoin Brazil: Expanding the Jungle
- This proposal requests $244,000 to fund ApeCoin Brazil: Expanding the Jungle, a year-long initiative aimed at driving ApeCoin adoption through in-person events, community engagement, and brand exposure in key Brazilian cities.