'Bitcoin Macro Index' bear signal puts $110K BTC price return in doubt March 28, 2025, 4:15 am
Bitcoin (BTC) risks falling into a fresh bear market as a large collection of BTC price metrics has produced a “bearish divergence.”In a social media discussion on March 27, Bitcoin commentators flagged troubling signals from the Capriole Investments’ Bitcoin Macro Index. Bitcoin Macro Index slump “not great,” says creatorAs BTC/USD struggles to return to the area around all-time highs, onchain metrics are beginning to lose their bull market edge. The Bitcoin Macro Index, created by Capriole in 2022, uses machine learning to analyze data from a large number of metrics that founder Charles Edwards says “give a strong indication of Bitcoin’s relative value throughout historic cycles.” “The model only looks at onchain and macro-market data. Uniquely, price data and technical analysis is not considered as an input in this model,” he explained in an introduction to the tool at the time. Since late 2023, the metric has been printing lower highs while price prints higher highs, creating a “bearish divergence.” While common to previous bull markets, a potential implication is that BTC/USD has already put in a long-term peak. “Not great,” Edwards reacted while reposting a print of the Index uploaded to X by another user. “But... when Bitcoin Macro Index turns positive, I won't be fighting it.”Capriole Bitcoin Macro Index. Source: @A_Trade_Academy/X BTC price metrics struggle to recoverVarious analytics sources have concluded that Bitcoin is suffering from macro turbulence this year. Related: Bitcoin price prediction markets bet BTC won’t go higher than $138K in 2025 In one of its “Quicktake” blog posts this week, onchain analytics platform CryptoQuant referenced four onchain metrics currently in a state of flux. “All of these metrics suggest that Bitcoin is experiencing significant turbulence in the short to mid-term,” contributor Burak Kesmeci said. “However, none of them indicate tha
Here’s what happened in crypto today March 28, 2025, 2:48 am
Today in crypto, the Securities and Exchange Commission officially shut down its investigation into Crypto.com. Additionally, SEC nominee Paul Atkins faced a Senate confirmation hearing, while a new survey showed that fewer than 1 in 5 European banks currently offer crypto services — despite rising investor demand.Crypto.com probe by the SEC has officially closed, says CEOThe US Securities and Exchange Commission has officially closed its investigation into Crypto.com, with no action taken against the crypto exchange, according to the firm’s CEO, Kris Marszalek. ”They used every tool available to attempt to stifle us, restricting access to banking, auditors, investors, and beyond. It was a calculated attempt to put an end to the industry,” Marszalek said in a March 27 X post. Source: Kris Marszalek The SEC also dismissed its civil enforcement action against crypto trading firm Cumberland DRW with prejudice on March 27. Prospective SEC chair pressed on sale of FTX-tied firmLawmakers in the US Senate Banking Committee questioned prospective Securities and Exchange Commission (SEC) member Paul Atkins on his ties to the crypto industry and how he might regulate digital assets if confirmed. Questioning Atkins at his nomination hearing on March 27, Massachusetts Senator Elizabeth Warren, the committee’s ranking member, said the former SEC commissioner had had “staggeringly bad judgment” in his role leading up to the 2008 financial crisis — Atkins served at the agency from 2002 to 2008. Sen. Warren also asked Atkins to disclose the buyers of his consulting firm Patomak Global Partners — which advised crypto exchange FTX before its collapse in 2022 — for transparency about potential conflicts of interest with the digital asset industry. “Your clients pay you north of $1,200 an hour for advice on how to influence regulators like the SEC, and if you’re confirmed, you will be in a prime spot to deliver for all those clients who’ve been pay
Coffeezilla shouldn’t duck Logan Paul suit over CryptoZoo claims: Judge March 28, 2025, 2:19 am
Influencer Logan Paul should be allowed to continue a lawsuit accusing the YouTuber known as “Coffeezilla” of making defamatory remarks about Paul’s failed CryptoZoo project, a Texas magistrate judge said.In a March 26 report filed in a San Antonio federal court, Magistrate Judge Henry Bemporad recommended that federal Judge Orlando Garcia, overseeing the case, deny Stephen Findeisen’s bid to toss Paul’s lawsuit, as Findeisen presented his claims more akin to facts than “mere opinion.” “At the pleading stage, Plaintiff [Paul] has sufficiently alleged that the statements at issue in this case are reasonably capable of defamatory meaning and are not unactionable opinions,” Bemporad wrote. “The Court should reject Defendants’ contention that context renders Findeisen’s statements nondefamatory,” he added. Paul sued Findeisen in June, claiming one of Findeisen’s X posts and two YouTube videos about his CryptoZoo non-fungible token (NFT) project were malicious and caused reputational damage. CryptoZoo was pinned as a blockchain game where players buy NFT “eggs” that would hatch into animals that could be bred to create unique animals to earn tokens depending on their rarity. The game is yet to materialize. An example of a CryptoZoo NFT animal that combines a shark and an elephant. Source: CryptoZoo Paul claimed Findeisen called him “a serial scammer” and that CryptoZoo was a “scam” and a “massive con,” which Paul denied. Findeisen asked the court for an early judgment last month, claiming his statements were made to be taken as opinions and his videos had disclaimers in the description section saying as such. But Bemporad found that “Findeisen’s three statements meet the legal definition of defamatory” and noted that the disclaimers “are not particularly prominent” and are “visible only when the section is expanded.” “Even if the discl
Market is underestimating how quickly Bitcoin will hit new ATH: Analyst March 28, 2025, 2:10 am
Bitcoin will break past its $109,000 all-time high sooner than expected despite recent volatile US macroeconomic conditions, according to a crypto analyst. “The market may be underestimating how quickly Bitcoin could surge – potentially hitting new all-time highs before Q2 is out,” Real Vision chief crypto analyst Jamie Coutts told Cointelegraph. He said this forecast stands regardless of whether or not there is more clarity on US President Donald Trump’s tariffs and potential recession concerns. Trump’s tariffs blamed for Bitcoin’s recent downtrendBitcoin (BTC) fell below $100,000 on Feb. 2, with many market participants blaming the downturn on Trump’s newly imposed tariffs and uncertainty over US interest rates. Coutts based his rosy rebound prediction on easing financial conditions, a weakening US dollar and the People’s Bank of China ramping up liquidity since early 2025. “Financial conditions have eased dramatically this month, highlighted by the US dollar’s third-largest three-day decline since 2015 and significant drops in rates and Treasury bond volatility,” he said. “Liquidity remains central to investing in all asset classes,” he added. Bitcoin is down 3.16% over the past 30 days. Source: CoinMarketCap At the time of publication, Bitcoin is trading at $85,880, down 3.16% over the past month, as per CoinMarketCap data. Coutts referred to his March 7 X post, where he said that based on the US Dollar Index (DXY) recent moves through a “historical lens,” it makes it hard to be “anything but bullish” about Bitcoin. Based on historical DXY performance, Coutts said that by June 1, Bitcoin's 90-day forecast ranges from a worst-case price of $102,000 to a best-case scenario of $123,000. Source: Jamie Coutts The upper target would represent a 13% gain over its current all-time high of $109,000, which it reached on Jan. 20. BlackRock’s head of digital assets, Robbie Mitchnick, recently
South Carolina dismisses its staking lawsuit against Coinbase, joining Vermont March 28, 2025, 1:12 am
South Carolina has become the latest US state to dismiss its lawsuit against crypto exchange Coinbase over its staking services, which had accused the crypto exchange of offering unregistered securities.The lawsuit was officially dismissed in a joint stipulation between the crypto exchange and the South Carolina Attorney General’s securities division on March 27. “South Carolina just joined Vermont to dismiss its unfounded staking lawsuit against Coinbase,” the firm’s chief legal officer, Paul Grewal, said in a March 27 X post. “This is not just a victory for us, but for American consumers and we hope it's a sign of things to come in the few states left that restrict staking.”South Carolina Attorney General and Coinbase’s joint stipulation. Source: South Carolina Attorney General South Carolina and Vermont were two of 10 US states that took legal action against Coinbase's staking services on June 6, 2023 — the same day that the federal securities regulator filed its lawsuit against the crypto exchange. The Securities and Exchange Commission officially dismissed that lawsuit on Feb. 27, 2025. The other eight US states that filed enforcement action similar to South Carolina were Alabama, California, Illinois, Kentucky, Maryland, New Jersey, Washington and Wisconsin. Grewal said he hoped to see other states follow suit and that South Carolina residents lost an estimated $2 million in staking rewards as a result of the lawsuit. “The 52 million Americans who own crypto deserve commonsense consumer protections and clear rules,” he said. “We applaud South Carolina for standing up for justice and hope the remaining states with bans on staking will take notice.” South Carolina introduces Bitcoin reserve billMeanwhile, a state lawmaker has just introduced the “Strategic Digital Assets Reserve Act of South Carolina” on March 27, which could see the state treasurer allocate up to 10% of certain state funds to cryptocurrencies such as Bi
Darkweb actors claim to have over 100K of Gemini, Binance user info March 28, 2025, 12:29 am
Darkweb threat actors claim to have hundreds of thousands of user records — including names, passwords and location data — of Gemini and Binance users, putting the apparent lists up for sale on the internet. The Dark Web Informer, a Darkweb cyber news site, said in a March 27 blog post that the latest sale is from a threat actor operating under the handle AKM69, who purportedly has an extensive list of private user information from users of crypto exchange Gemini. “The database for sale reportedly includes 100,000 records, each containing full names, emails, phone numbers, and location data of individuals from the United States and a few entries from Singapore and the UK,” the Dark Web Informer said. Source: Dark Web Informer “The threat actor categorized the listing as part of a broader campaign of selling consumer data for crypto-related marketing, fraud, or recovery targeting.” Gemini didn’t immediately respond to Cointelegraph’s request for comment. A day earlier, Dark Web Informer said another user, kiki88888, was offering to sell Binance emails and passwords, with the compromised data reportedly containing 132,744 lines of information. Source: Dark Web Informer Binance says leaked info came through phishing, not data leakSpeaking to Cointelegraph, Binance said the information on the dark web is not the result of a data leak from the exchange. Instead, it was a hacker who collected data by compromising browser sessions on infected computers using malware. In a follow-up post, the Dark Web Informer also alluded to the data theft being a result of user’s tech being comprised rather than a leak from Binance, saying, “Some of you really need to stop clicking random stuff.” Source: Dark Web Informer In a similar situation last September, a hacker under the handle FireBear claimed to have a database with 12.8 million records stolen from Binance, with data including last names, first names, email addresses, phone numbers, bir
GameStop stocks hit restrictions on NYSE after short volume rockets 234% March 28, 2025, 12:06 am
The New York Stock Exchange (NYSE) has imposed a Short Sale Restriction (SSR) on GameStop after volume spiked to levels reminiscent of GameStop’s famous 2021 short squeeze.GameStop (GME) short sales volume — the total number of shares sold short within a specific time frame — rose 234% over 24 hours, reaching 30.85 million shares sold on March 27, according to TradingView data. The SSR kicks in when a stock drops over 10% from the previous day’s closing price. GameStop’s stock fell 22% over the trading day, wiping out its 12% gain from the Bitcoin announcement and then some, according to Google Finance data. At the time of publication, GME was trading at $22.09. GameStop shorts volume near 2021 short squeeze levelsThe rule is applied for the rest of the trading day and the following trading day. Malone Wealth president and CEO Kevin Malone said in a March 27 X post that “GameStop traded 50x more shares today than last Thursday. Not statistically possible without naked short-selling.” GameStop’s short sale volume reached 30.88 million on March 27. Source: TradingView The number is close to the levels reached in January 2021 when GameStop stocks famously went meteoric after a “short squeeze” of the stock, causing significant losses for hedge funds and other short sellers while some retail traders made significant returns. The highest point reached during that month was 33.26 million shares on Jan. 19. GameStop Bitcoin buy is “dot-comish”GameStop did not specify how much Bitcoin it plans to purchase, but after the markets closed on March 26, the firm announced a $1.3 billion convertible notes offering. However, some analysts and commentators have questioned GameStop’s plan to start purchasing Bitcoin. Speaking to Yahoo Finance on March 27, Tastylive founder and CEO Tom Sosnoff said that GameStop's decision to buy Bitcoin feels “a little dot-comish” to him. Source: Hans Akamatsu “It feels a little like, oh, I’m
EU watchdog wants insurers’ crypto holdings 100% covered, citing volatility March 27, 2025, 11:07 pm
The European Union’s insurance authority has proposed a blanket rule that would mandate insurance firms to maintain capital equal to the value of their crypto holdings as part of a measure to mitigate risks for policyholders.The new proposal — made by the European Insurance and Occupational Pensions Authority in a Technical Advice report to the European Commission on March 27 — would set a far stricter standard than other asset classes, such as stocks and real estate, which don’t even need to be half-backed. “EIOPA considers a 100% haircut in the standard formula prudent and appropriate for these assets in view of their inherent risks and high volatility,” it said in a separate statement. Such a measure would fill a regulatory gap between the Capital Requirements Regulation and Markets in Crypto-Assets Regulation (MiCA), EIOPA said, noting that the European Union’s regulatory framework for insurers currently lacks specific provisions on crypto assets. Circle argued in January that a blanket 100% stress factor on crypto assets didn’t account for lower-risk stablecoins. Source: Circle EIOPA outlined four options for the European Commission to consider — one: make no changes; two: mandate an 80% “stress level” to crypto assets; and three: mandate a 100% stress level to crypto asset. The stress level percentages determine how much capital firms need to hold to stay solvent. The fourth option called on the European Commission to consider the risks of tokenized assets more broadly. EIOPA said option three would be the most appropriate option. “An 80% stress to the value of crypto-asset exposures does not appear sufficiently prudent,” whereas “a 100% stress is more appropriate and aligns with one of the approaches to the transitional treatment of crypto-assets under CRR,” EIOPA said. The 100% stress refers to the assumption that the crypto asset prices could fall by 100% and that diversification — spreading the risk across
France’s state bank earmarks $27M for crypto with ‘strong French footprint’ March 27, 2025, 10:42 pm
France’s state-owned bank says it will spend 25 million euros ($27 million) buying cryptocurrencies that support local crypto and blockchain projects.Bpifrance said in a March 27 press release that it would back newly formed projects “with a strong French footprint” where it will receive tokens in return for its investment and will look to fund decentralized finance (DeFi), staking, tokenization and artificial intelligence. It added that the plan, supported by the French Ministry of Economy and Finance, was to “promote emerging technologies and strengthen the French blockchain ecosystem.” The global blockchain ecosystem is “currently booming” but the number of French funds taking part is still very limited, it said. French digital and AI minister Clara Chappaz said public and private financing was “one of the keys to the sustainable positioning of our ecosystem on the international stage.” Bpifrance deputy CEO Arnaud Caudoux said that it was convinced of the growing importance that blockchain companies “will take on in the years to come and want to increase French competitiveness and presence in the digital assets field.” “The US is really accelerating its own crypto strategy, so this is all the more important,” Caudoux said at a press conference, as reported by Reuters. He added that Bpifrance had started to support crypto before the US started its own pro-crypto moves. Bpifrance’s headquarters in Paris. Source: Google The bank said it had backed the blockchain sector for a decade and had invested over 150 million euros ($162 million), notably helping to finance the crypto hardware wallet company Ledger in 2014. Bpifrance said it began testing limited investments through tokens in 2022, including a deal with the DeFi lending platform Morpho to buy its token — which has grown to be the 12th largest protocol by value at $3.24 billion, according to DefiLlama. Related: Bybit removed from French regulator’s blacklist, eye
‘Our GPUs are melting’ — OpenAI puts limiter in after Ghibli-tsunami March 27, 2025, 10:02 pm
ChatGPT creators OpenAI have introduced rate limits after a viral social media trend that saw nearly everything “Ghiblifyied” — turned into AI art in the style of the famous Japanese animation studio. OpenAI CEO Sam Altman was one of the first to take part in the trend, posting a portrait of himself generated by the model on March 25 but said in a subsequent post two days later that all image requests have started to tax the firm’s infrastructure. “It’s super fun seeing people love images in ChatGPT but our GPUs are melting. We are going to temporarily introduce some rate limits while we work on making it more efficient,” he said. Source: Sam Altman “Also, we are refusing some generations that should be allowed; we are fixing these as fast we can,” he added. OpenAI launched the upgraded image generation offering in ChatGPT-4o on March 25, resulting in users splashing images across social media in the art style of Studio Ghibli — known for its anime films Spirited Away and My Neighbor Totoro. Altman didn’t give a definitive timeline on how long the rate limits would last but said, “Hopefully, it won’t be long! ChatGPT free tier will get three generations per day soon.” Rate limits are generally applied to help OpenAI manage the aggregate load on its infrastructure, according to OpenAI. Related: Ghibli memecoins surge as internet flooded with Studio Ghibli-style AI images “If requests to the API increase dramatically, it could tax the servers and cause performance issues. By setting rate limits, OpenAI can help maintain a smooth and consistent experience for all users,” OpenAI says on its rate limit explanation page. Along with the legions of others getting in on the trend, X and Tesla CEO Elon Musk shared an image mimicking King Mufasa from Disney’s The Lion King holding up a Shiba Inu. White House AI and crypto czar David Sacks also joined in, using the Studio Ghibli-art style on an image of hims