Coinsori

Bitcoin (BTC) traded at $66,450 on Thursday, a 47% drawdown from its all-time high of $126,000 reached in October 2025. As a result, many BTC holders are sitting on significant unrealized losses, underscoring the risks still facing Bitcoin investors at current levels.

Key takeaways:

Bitcoin’s 47% drawdown from its $126,000 all-time high has left holders with nearly $600 billion in unrealized losses.

Apparent demand and buying from US investors remain in deep contraction, suggesting broader market distribution.

44% of Bitcoin circulating supply now in the red

BTCUSD
trades 24% below its yearly open of $87,500 after it closed 2025 in the red. The prolonged weakness has pushed a significant portion of its supply underwater.

As Bitcoin trades at $66,450 on Thursday, roughly 8.8 million BTC are held at a loss, representing $598.7 billion in unrealized losses, or more than 44% of the circulating supply, according to data from Glassnode.

The magnitude of this figure implies a “structural resemblance to conditions observed in Q2 2022,” Glassnode said in its latest Week On-chain newsletter.

Glassnode explained that the 2022 bear market provides a precedent when roughly 3 million BTC needed to be redistributed before the market could recover.

“Historically, resolving a supply overhang of this scale has required a meaningful redistribution of coins from loss-realizing holders to new buyers at lower prices.”

This mounting paper loss has eroded conviction, prompting long-term holders (LTH) to capitulate by selling below their cost basis.

LTH realized loss, a metric that measures the aggregate dollar value of Bitcoin sold at a loss by investors who have held BTC for more than 155 days, has risen to $200 million, “confirming active capitulation,” Glassnode said, adding:

“A meaningful cooldown toward levels below $25M per day would represent a more compelling signal of exhaustion in selling pressure, and a prerequisite for the base formation that historically precedes a sustainable bull market transition.”

BTC’s spot price is also below the average cost basis of US spot Bitcoin ETF holders, currently at $83,408, suggesting that these investors are increasingly under strain.

The risk-off sentiment is also seen in global Bitcoin investment products, which recorded more than $194 million in net outflows during the week ending March 27.

Bitcoin apparent demand contraction persists

Bitcoin’s apparent demand has stayed negative since mid-December 2025, as traders and investors continue to be risk-off amid BTC’s price weakness.

Capriole Investment’s Bitcoin Apparent Demand metric shows that the demand for Bitcoin is at -1,623 BTC on Thursday, and that sellers are in control.

The continued contraction in total apparent demand indicates persistent “selling from retail,” CryptoQuant said in its latest Weekly Crypto report, adding:

“The sustained demand contraction, now persisting since late November 2025, confirms that the broader market remains in distribution.”
Meanwhile, Bitcoin’s Coinbase Premium Index, which measures the difference in pricing between the
BTCUSD
pair on Coinbase and Binance, also remains in negative territory.

“The persistent negative premium indicates that US investors have not yet re-entered the market at scale,” CryptoQuant said, adding:

“This is consistent with the demand contraction seen across on-chain metrics.”

As Cointelegraph reported, Bitcoin price risks new lows in the short term amid a strengthening US dollar.
source: https://www.tradingview.com/news/cointelegraph:645529424094b:0-bitcoin-holders-face-600b-in-unrealized-losses-as-btc-price-slips-to-66k/

Crypto.com announced the launch of the BTC App Campaign. According to the post, the top 2,000 users ranked by net BTC purchases and deposits will receive $10 in BTC. The campaign runs through April 16 and is subject to jurisdictional restrictions.

Refer to the official tweet by CRO:
CRO Info

Cronos is an open source decentralized blockchain developed by Crypto.com, a payment, trading and financial services company.

It aims to massively scale the Web3 user community by providing builders with the ability to instantly port apps and crypto assets from other chains with low cost, high throughput, and fast finality. Cronos utilizes Ethereum Virtual Machine (EVM) technology, which allows it to be compatible with existing decentralized applications (dApps) built on Ethereum.

CRO is a native platform token that can be used to conduct transactions and interact with decentralized applications (dApps).
source: https://www.tradingview.com/news/coindar:3c1389558094b:0-crypto-com-launches-btc-app-campaign-through-april-16/

Bitcoin tumbled Thursday after US President Donald Trump indicated he would intensify strikes against Iran in the coming weeks, denting optimism about a quick end to the war and sending risk assets lower.

Cryptocurrencies fell across the board. Bitcoin dropped as much as 3.6% to $65,709 in New York trading. Ether fell as much as 5.7% and Solana dropped by a similar magnitude.

Trump pledged in a speech Wednesday to continue the war on Iran, rattling energy markets as there’s little sign the Strait of Hormuz will reopen soon. Stocks and bonds tumbled Thursday on expectations oil prices will stay higher for longer as US benchmark WTI crude oil surged 11% to more than $111 a barrel.

“Trump’s latest comments on the war with Iran triggered a sharp sell-off amid a lack of de-escalation signs,” said Alex Kuptsikevich, chief market analyst at FxPro, adding that Bitcoin’s price is consolidating at a range between $66,000 and $69,000.

“Bitcoin is largely following stocks’ direction, though in the past few weeks it has showed reduced sensitivity to both good and bad news,” said Caroline Mauron, co-founder of Orbit Markets.

Bitcoin had been weathering the war better than many assets. It ended March up 2% from the previous month, snapping a five-month losing streak. Gold, normally a safe-haven asset, ended March down more than 11% as concerns about energy-fueled inflation grew.

Still, demand for Bitcoin has remained weak. Despite March’s gain, the token is down 45% from a peak of $126,000 that it hit in October. Apparent demand, which measures the extent to which demand compares with new Bitcoin being mined, was negative by about 63,000 tokens as of late last month, according to a report Wednesday from CryptoQuant.

A lack of conviction among large Bitcoin holders, known as whales, has been one challenge. Those holders have turned into net sellers, according to CryptoQuant, offloading significant amounts of the token over the past year.

“Onchain data confirms what price action has been telegraphing: there’s zero conviction,” said Jasper De Maere, a trader at Wintermute.

Net flows to US-listed spot Bitcoin exchange-traded funds turned negative on Wednesday, with investors pulling $174 million from the funds. March has seen about $1.1 billion in net inflows into the ETFs — a stabilization after four straight months on net outflows — but those allocations have proven sensitive to macro shifts.
source: https://www.tradingview.com/news/moneycontrol:39f7c4ef8094b:0-bitcoin-plunges-with-stocks-as-donald-trump-signals-harder-iran-strikes/

Bitcoin (BTC) gained a $10,000 price warning as stocks took a fresh hit over oil-supply fears at Thursday’s Wall Street open.

Key points:

$10,000 BTC prices may return as the market struggles to hold ground, says new analysis.

Bitcoin and US stocks take a further beating as markets discount the odds of the Strait of Hormuz returning to “normal.”

Oil spikes to $114 per barrel in a volatile Wall Street open.

BTC price “may be reverting” to $10,000

Data from TradingView tracked BTC price action as it dipped below $66,000 to reach week-to-date lows.

Bitcoin continued to field warnings from market participants over short-term and long-term price performance.

In his latest analysis, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, even saw $10,000 coming back into play for
BTCUSD
.

“Before the biggest money pump in history in 2020-21, Bitcoin hovered around $10,000, and it may be reverting,” he wrote in a summary on X.

McGlone argued that $10,000 had particular importance as the point at which Bitcoin futures markets first began trading almost a decade ago.

Data from CoinGlass meanwhile put 24-hour crypto liquidations at over $400 million on Thursday.

Oil surges over supply woes as Bitcoin falls

US equities came under considerable pressure at the open, with the Nasdaq Composite Index down by more than 2% at the time of writing.

Gold found cause for a modest rebound after its own comedown earlier, with oil supplies through the Strait of Hormuz in the spotlight. WTI crude spiked to $114 per barrel as the US session began.

Reacting, trading resource The Kobeissi Letter said that US inflation could hit 3.6% if prices sustained for two months.

“This would put US inflation at its highest level since September 2023,” it wrote on X.

Prediction platform Kalshi showed declining odds of oil traffic reverting to “normal” levels this year.

The volatility came as markets returned following an address to the nation by US President Donald Trump. As Cointelegraph reported, markets were disappointed by the event as Trump avoided key deescalation promises.

Kobeissi founder Adam Kobeissi called the address the “most puzzling part of the Iran War yet.”

“It began with Iran's President stating they have "no enmity" towards Americans and ended with President Trump escalating the Iran War, the exact opposite of what we have seen over the last 2 weeks from both sides,” he told X followers.

“It simply does not add up.”
source: https://www.tradingview.com/news/cointelegraph:7be996b3b094b:0-bitcoin-hits-weekly-low-on-oil-fears-as-analyst-teases-10k-btc-price-target/

Elastos announced that KuCoin’s cloud mining platform KuMining now supports ELA rewards through merged mining with BTC. According to the post, the new pool route expands support for Elastos merged mining and strengthens backing for ELA network security. Users can now mine BTC on KuMining and receive ELA rewards.

Refer to the official tweet by ELA:
ELA Info

Elastos is a project aiming to create a secure and decentralized internet platform. This platform allows developers to create applications that don’t interact directly with the internet but instead run through the Elastos Runtime.

Key features and objectives of the Elastos project include:

1. Decentralization: Elastos aims to deliver a decentralized internet, where applications and services aren’t controlled by centralized entities.

2. Security: the platform is designed so that applications cannot directly access the internet. This structure helps mitigate a significant portion of cyber attacks and breaches.

3. Smart Contracts: Elastos provides an environment for the development of smart contracts, which can be utilized to craft decentralized applications (DApps).

4. Proprietary OS: Elastos has developed its operating system, which can run on various devices, thus providing a secure environment for applications and data.

5. Blockchain Integration: the primary Elastos blockchain provides the main security and identification features, while side chains can be created for each application or service, ensuring scalability.

ELA is the native token of the project, used for transactions within the network and also for rewarding participants who support the network.
source: https://www.tradingview.com/news/coindar:139ae70ce094b:0-elastos-adds-ela-rewards-to-kumining-btc-mining/

Bitcoin (BTC) demand remains weak even as some institutional buying continues, according to onchain analytics firm CryptoQuant.

The firm said bitcoin spot demand is still in "deep contraction," with 30-day apparent demand growth at around -63,000 BTC as of late March, indicating that selling pressure in the market is still stronger than buying.

Bitcoin purchases by exchange-traded funds and Michael Saylor’s Strategy have increased, yet that has not been enough to ease pressure. ETF 30-day purchases rose sharply last month, reaching around 50,000 BTC, the highest since October 2025, while Strategy's 30-day accumulation has remained elevated at around 44,000 BTC, CryptoQuant noted.

"Despite this institutional acceleration, total apparent demand continues to contract, indicating that selling from retail and other market participants is more than offsetting incremental institutional buying," the firm said. "The sustained demand contraction, now persisting since late November 2025, confirms that the broader market remains in distribution."

Large bitcoin holders or "whales" with 1,000 to 10,000 BTC have turned "net distributors," CryptoQuant said, meaning they are reducing their holdings overall. Their holdings have dropped sharply over the past year to -188,000 bitcoin, the firm noted. After buying more than 200,000 bitcoin in 2024, whales started reducing holdings from mid-2025, with a faster pace in late 2025 and early 2026, CryptoQuant said.

"The 365-day SMA [simple moving average] remains in a declining trend, confirming that this distribution is structural rather than temporary," CryptoQuant said. "Historically, sustained negative whale accumulation has coincided with periods of prolonged price weakness, and the current reading suggests selling remains a significant structural headwind."

Meanwhile, mid-sized bitcoin holders or "dolphins" with 100 to 1,000 BTC are still accumulating on a yearly basis, but at a much slower pace, according to CryptoQuant.

These holders have reduced their accumulation pace since November 2025, with the one-year change in holdings falling from a cycle peak of almost 1 million bitcoin in October 2025 to 429,000 bitcoin currently, a decline of more than 60%, CryptoQuant noted.

Demand from U.S. investors has also weakened in recent weeks. The Coinbase premium, which tracks U.S. buying interest, has stayed mostly negative even as bitcoin prices dropped into the $65,000 to $70,000 range. This shows U.S. investors "have not yet re-entered the market at scale, consistent with the demand contraction seen across onchain metrics," CryptoQuant said.

Overall, despite weak demand, CryptoQuant said a short-term price bounce is still possible if macro conditions improve, particularly if the U.S.-Iran conflict de-escalates. Bitcoin could then rise toward the $71,500 to $81,200 range, the firm said, noting these levels are key resistance zones in a bear market.

"A de-escalation of geopolitical tensions could serve as a near-term positive catalyst, potentially triggering a relief rally toward the $71,500 lower Band. If buying momentum builds, the next key resistance is the Trader Realized Price at ~$81,200, a level that capped the January 2026 bear market rally," CryptoQuant said.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
source: https://www.tradingview.com/news/the_block:49019a595094b:0-cryptoquant-says-bitcoin-demand-remains-in-deep-contraction-but-price-could-bounce-to-71-500-81-200/

Bitcoin’s recent price structure has not been easy to sit through. The price action has spent months moving sideways to lower, printing a series of bearish monthly closes since October that have placed the crypto sentiment in fear. That kind of slow pressure tends to feel worse than sharp sell-offs.

According to a crypto analyst, instead of treating the recent stretch as a warning sign of more declines to come, history shows that the Bitcoin price is much closer to a turning point than most participants realize.

The 2018 Parallel: Six Red Candles, Then A 4x Move

“With the ongoing panic, buying makes more sense here,” the analyst wrote, adding that Bitcoin could reach another all-time high following this move. The chart evidence they cite stretches back to late 2018 to early 2019, the only other time Bitcoin printed six straight red monthly candles.

This period between 2018 and 2019 is one of the most instructive chapters in Bitcoin’s price history, and what happened next reshaped the entire cycle.

From August 2018 through January 2019, Bitcoin closed six consecutive red monthly candles in a descent that took the price from about $7,700 all the way down to approximately $3,500. Sentiment had fully deteriorated, retail participants had largely capitulated, and to the average observer, the price action looked broken.

However, that was not the case. Those six months actually forced out weaker hands, absorbed persistent sell pressure, and quietly built the base for what came next. By May 2019, Bitcoin had surged to nearly $10,500, more than a 3x gain from its cycle lows. By June, it was pressing $13,000, representing more than a 4x return from the lows of that six-candle decline.

Bitcoin Price Chart. Source: @ourcryptotalk On X

A Familiar Pattern In A Very Different Market

Bitcoin’s current price action, while not identical, shares some of those characteristics. The current price play out looks much like that 2018/2019 sequence in structure, but the context is also more constructive.

Bitcoin’s consecutive red monthly candles since October 2025 brought the price from a peak above $126,000 down to lows below $70,000, which is a controlled pullback of over 45% from the high. Painful by conventional standards, but measured in the context of Bitcoin’s historical drawdowns.

As noted by the analyst, the candles are red, but they’re not impulsive. There’s no panic structure, just steady selling pressure that’s been absorbed over time. However, while retail sentiment has deteriorated across the multi-month decline, institutional buyers have been moving in the opposite direction. Strategy, the world’s largest corporate Bitcoin holder, has accumulated over 122,000 BTC during this period.

Bitcoin Price Chart. Source: @ourcryptotalk On X

If the 2019 recovery template applies at any comparable scale, a 3x to 4x move from recent lows would place Bitcoin somewhere between $180,000 and $250,000 in the months ahead. Even a more conservative 2x recovery from the $67,000 range would put the Bitcoin price trading at new all-time highs above $130,000 in the coming months.
source: https://www.tradingview.com/news/newsbtc:1ed5619af094b:0-analyst-says-bitcoin-closing-6-red-monthly-candles-isn-t-bearish-what-to-expect/

Bitcoin (BTC) has held in a tight range below $70,000, with analysts pointing to a market still searching for conviction as onchain positioning quietly shifts heading into the Easter period.

According to The Block’s BTC price page, bitcoin is currently trading for around $65,973, down 3.7% over the past 24 hours, having oscillated between $60,000 and $70,000 in recent weeks, while ether (ETH) has been pinned near $2,000.

Onchain picture

Spot demand is beginning to absorb selling pressure but not yet strong enough to drive a sustained move higher, Glassnode wrote in a weekly market review. The analysts said the current setup reflects a market in transition.

A large share of supply remains underwater, with an estimated 8 million to 9 million BTC held above current prices. The current market scene has created a persistent overhead barrier that continues to cap rallies, according to the analysts.

At the same time, long-term holders have been realizing losses at elevated levels, suggesting the redistribution phase is still playing out.

Derivatives markets tell a more nuanced story. Funding rates stayed negative for most of the first quarter and remain below zero. In other words, traders are paying a premium to hold short positions even as prices stabilize.

Analysts at Bitfinex said that the imbalance could become self-reinforcing.

"Traders are willing to pay a premium to maintain downside exposure," the firm noted. The Bitfinex analysts added that the extended short bias could trigger a squeeze if upward momentum materializes.

Flows and options

Bitcoin is caught between stabilizing spot flows and cautious leverage.

Exchange-traded funds recorded a late-quarter rebound, with two consecutive days of net inflows at the end of March, though flows appeared to be driven in part by rebalancing rather than renewed conviction.

More recent data shows U.S.-based bitcoin funds have resumed outflows, including $174 million pulled on April 1.

Demand in options markets has also retreated as implied volatility compressed and skew tilted modestly toward downside protection. That’s usually a sign that investors are hedging risk rather than positioning for a breakout.

Macro impact

The broader macro backdrop has added another layer of restraint.

Analysts at Bitunix said markets have entered what they described as a "supply chain destruction" phase, as disruptions to both energy and industrial metals production begin feeding through to inflation.

Against that backdrop, bitcoin has continued to act as what one analyst described as a residual risk barometer, with liquidity clustered between $69,000 and $70,100 on the upside and around $65,500 as a key downside test level.

Recent coverage has highlighted a similar tone across markets. Traders have entered the typically quieter Easter period with what K33 called "aggressive caution," while bitcoin has already posted its worst first quarter since 2018.

A longer-term lens offers a different read. In a recent podcast interview, Pantera Capital founder Dan Morehead said bitcoin could take another six to eight months to bottom. He also argued the asset has already reached "escape velocity," with institutional participation still near zero. In this view, this leaves the next leg driven by broader adoption rather than short-term flows.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
source: https://www.tradingview.com/news/the_block:3838b7ebe094b:0-bitcoin-falls-below-66k-as-crowded-shorts-hint-at-upside-risk-ahead-of-easter-holiday-analysts/

Bitcoin on Thursday slipped to $66,000, erasing all the gains registered after Tuesday’s news of easing in the war. BTC price today dropped 3.24% over 24 hours, with negative volume. This came after President Donald Trump’s shift in stance towards Iran to end the war. Major Altcoins like Ethereum, XRP, Solana, BNB, and Dogecoin experience Extended losses.

While Bitcoin reacts to every escalating headline of war, Cryptocurrencies like STO, NOM, and ONT outperform the top altcoins in daily gains. These sharp gains are supported by organic catalysts and may continue gains, with respect to technicals and sentiment.

Bitcoin Analysis

BTC/USDT 1-Day Chart reveals how bitcoin failed to break above the $71,985, a 61.8% Fibonacci retracement, and declined to near $65,0303. There is another hard ceiling for Bitcoin at $69,200 that has been a resistance in multiple sessions. Since a rising channel breakout happened near $67,200, Bitcoin is trading below the SMA 100 value.

A more significant decline can be seen if the Bitcoin price plunges below $65000, where the support is at $64,200. Perhaps, if the War news escalates on the other side, we can see a good close above $68,000.

STO registers a big Red Candle, recovering again

StakeStone is a newly launched ETH, BTC staking platform with its governance token STO that surged nearly 300% in the last 24 hours, before falling 60% from its daily high.

STO/USDT coin, today surged from $0.254 to a new high of $1.74 and is now trading at $0.8404, but is still up 226% in 24h. Volume is up by 684%.

With ADX at 80, the price shows bullish momentum continuation, with the MACD line nearing the signal line, which shows the growth trend may slow down, but not with corrections.

If Social media sentiment remains bullish for STO, the price seems to be forming higher highs and lows, and the target is near $1.2.

Nomina, NOM Performs Even after Scrutiny

Formerly known as OMNI, backed by the Coinbase Nomina coin, on Thursday spiked massively, NOM is now up by 65% and trading at $0.01031. Despite facing failure alarms from Korean exchanges and delisting news of NOM Coin by the Bithumb exchange, the coin is up nearly 400% in a week.

NOM/USD 1hr Chart shows weakening momentum, smaller Candles that show lower trade volume. The accumulation and distribution indicator turned negative, RSI down from 85 to 75, and is going flat.

Per the indicator, NOM may trade neutral between $0.010 to $0.012 as the liquidity strike is over. If the trend fails to hold, we can support is near $0.00569.

Ontology
ONTUSD
Breakout of Channel

Ontology, ONT at press time is $0.1164, in the last 24 hours has sugred 11.17% and 112% in one week. This surge started after its partnership with European officials to build the eIDAS 2.0 framework, identity wallets for 450 million citizens by the end of 2026.

Whale Activity and high-volume trading on Korean markets further promoted the rally.

ONT/USDT 4h chart looks promising, the price has made a successful breakout from the upward channel. The Ichimoku Cloud momentum indicator shows price moving above the clouds, and the MACD signal is still bullish.

If price holds above the channel, ONT can be seen trading above 0.12. In contrast, trend reversal, the support is at $0.104.
source: https://www.tradingview.com/news/coinpedia:7cf1d9f4e094b:0-trump-s-extremely-hard-hits-hard-on-bitcoin-but-some-altcoins-make-it-through/

The latest U.S. manufacturing data is influencing expectations around the timing of the next crypto market cycle.

The Institute for Supply Management (ISM) Manufacturing PMI rose to 52.7, its highest level since 2022. The index has now stayed above 50 for three straight months, indicating expansion after nearly three years of contraction, the longest stretch in more than a century of ISM records.

ISM Expansion Aligns With Past Crypto Rallies

The shift into expansion territory is drawing attention due to its historical alignment with crypto market cycles. The previous crypto bull run coincided with similar macroeconomic recoveries in 2013, 2017, and 2021.

These periods followed rising manufacturing activity and improving liquidity conditions, which supported risk assets across markets.

The recent expansion follows about 36 months of contraction in U.S. manufacturing. This period coincided with tighter financial conditions and weaker performance in many digital assets, particularly altcoins.

Despite this environment, Bitcoin crossed the $100,000 mark, indicating sustained demand even during unfavorable macro conditions.

Raoul Pal Links Crypto to Business Cycle

Macro investor Raoul Pal tied crypto performance directly to broader economic cycles.

“It is always the business cycle… Bitcoin is basically following the ISM.”

He said the current cycle may differ from the traditional four-year structure linked to Bitcoin halving events.

“This one is a five-year cycle… and it tells us the ISM should peak by 2026.”

Two Scenarios for the Next Crypto Bull Run

Market expectations are currently shaped by two primary frameworks.

Traditional cycle model:

Bitcoin halving events remain central to this view. After the April 2020 halving, Bitcoin rallied within about 200 days and reached peak levels in 2021. A similar pattern followed the April 2024 halving, with a consolidation phase before new highs in 2025. Based on this trend, the next major peak later in the cycle, potentially extending into 2026 or beyond.

Macro-driven model:

The return of PMI above 50 points indicates improving economic conditions. Expansion in manufacturing activity has historically aligned with increased liquidity, which supports risk assets, including cryptocurrencies. Under this view, the current cycle could progress faster than traditional timelines.

A survey by Coinbase stated:

“74 percent of institutional investors expect crypto prices to rise within the next 12 months, while 73 percent plan to increase exposure to digital assets in 2026.”

Liquidity and External Risks Remain Factors

The shift into expansion may indicate improving liquidity conditions, particularly if it leads to lower interest rates. In previous cycles, easing financial conditions supported broader participation in crypto markets.

At the same time, external factors continue to influence the outlook. Geopolitical developments and regulatory timelines in the United States remain relevant to market conditions.
source: https://www.tradingview.com/news/coinpedia:03801d35d094b:0-when-will-the-next-crypto-bull-run-begin-key-timelines-to-watch/

Tokenized Brent oil futures on Hyperliquid generated about $46.6 million in liquidations in 24 hours, making oil the third‑most liquidated asset after ether at $104.5 million, and Bitcoin at $98.3 million.

Hyperliquid’s Oil Perps Dethrone Bitcoin

The single largest liquidation across all assets in the past 24 hours was not Bitcoin or Ethereum, but a $17.17 million Brent oil position on Hyperliquid, according to Binance Square. This marks the second time in under a month that oil has produced the biggest individual wipeout on a crypto venue.

The report also claims that there is a total of $403 million dollars in liquidations across 137,031 traders, with longs taking roughly $234.6 million in losses versus $168.7 million for shorts, following CoinGlass data.

The cascade followed President Trump’s national address vowing to hit Iran “extremely hard”, which reversed the trader’s expectations of a de‑escalation and sent Brent crude above $106 after a 5% intraday jump.

Therefore, the classic cross-asset macro trade that many traders had blew up because the correlations flipped unexpectedly at the worst possible moment. Traders longing crypto and shorting oil were hit on both sides when oil spiked and risk assets sold off, turning hedges into amplifiers of loss. Tokenized Commodities Take Over The Crypto Market

The BRENTOIL‑USDC perp on Hyperliquid traded around $107.19, with $977 million in 24‑hour volume and $515 million in open interest, a figure larger than many mid‑cap tokens’ market caps. As of right now, things have changed a little bit. BRENTOIL is trading for around $109 in the leading perp DEX, with $736 million in 24-hour volume and almost $540 million in open interest. The 24-hour change rate is of 7%.

Hyperliquid’s on‑chain commodity markets now act as a 24/7 outlet for trading oil, gold and other macro assets with crypto‑style leverage, and they’re soaking up a disproportionate amount of geopolitical shock. Since the conflict began, tokenized oil has ranked among the five most‑liquidated instruments on the platform at least three times. Takeaways For Traders

Positioning across Bitcoin, Ethereum and Real World Assets (RWAs) can no longer be siloed. When a shock hits one leg (like oil), it can trigger margin calls that force liquidations across the entire account, including BTC and ETH, even if those positions looked unrelated on paper. Correlation trades (long BTC, short oil) can unwind violently around event risk.

Taking this into consideration, it would be sensible for traders to commit to disciplined sizing and wider collateral buffers. Awareness of geopolitical calendars is now just as critical as chart levels when trading Bitcoin in a tokenized‑commodity world.

Cover image from Perplexity, BTCUSD chart from Tradingview.
source: https://www.tradingview.com/news/newsbtc:d16d412ac094b:0-bitcoin-liquidations-dethroned-a-tokenized-bet-just-posted-crypto-s-biggest-loss/

Genius Group (GNS) sold its entire Bitcoin
BTCUSD
treasury of 84.15 BTC on April 1, 2026, fully repaying $8.5 million in debt and leaving the company with zero BTC on its balance sheet.

The Singapore-based AI-powered education company adopted its Bitcoin-first strategy on November 12, 2024, just days after the US presidential election, committing to hold 90% or more of its reserves in BTC.

Genius Group Moves From 440 BTC to Zero

The exit marks the end of a 16-month run as one of the earliest post-election corporate BTC treasury adopters.

Genius Group’s BTC accumulation peaked at approximately 440 BTC by early 2025. Based on current rankings, this would place the firm among the top 70 public companies holding BTC.

The company tied its treasury strategy directly to its identity as an AI-powered education group. They framed BTC as its primary reserve asset alongside workforce training and experiential learning programs.

The unraveling began when a US court order blocked the company from raising capital or issuing new shares.

That legal constraint removed the company’s ability to fund operations without tapping its BTC holdings. Sales proceeded in stages rather than in a single transaction.

By February 6, 2026, Genius Group held exactly 84.15 BTC after selling approximately 96 BTC between late December 2025 and early February 2026.

The partial sales reduced a BTC-backed loan from roughly $8.5 million to around $3.3 million before the final liquidation cleared the balance entirely.

Debt Pressure Forces the Exit

The final BTC sale occurred during Q1 2026 and was completed before March 31. The company announced zero holdings on April 1 alongside its Q1 results, confirming the full debt repayment.

The exit came at a loss. Genius Group’s average BTC cost basis sat near $102,000 per coin from earlier accumulation. Meanwhile, prices during the Q1 sale period ran softer, around $66,500.

Despite the treasury wipeout, the company’s core operations showed growth. Q1 2026 operational revenue reached $3.3 million, up 171% from $1.2 million in Q1 2025.

Gross profit grew 228% to $2.0 million, and gross margin improved to 62% from 52% a year earlier. Adjusted EBITDA from operations turned positive at $600,000, compared to negative $400,000 in Q1 2025.

CEO Roger Hamilton attributed the operational improvement to a strategic focus on higher-margin education programs across Genius School, Genius Academy, and Genius Resorts.

“Our first quarter marks a significant milestone for Genius Group. It shows that our focus on three revenue drivers – Genius School, Genius Academy, and Genius Resorts – is paying off, with our operational revenue getting close to tripling year-on-year,” read an excerpt in the announcement, citing founder and CEO Roger

A Pause, Not an Exit

Genius Group framed the BTC liquidation as a temporary measure rather than a permanent reversal of strategy.

The company stated it will recommence building its Bitcoin treasury when it believes market conditions are more favorable.

Hamilton has accumulated 5.5 million company shares since 2024, a signal management cited as a sign of confidence in the company’s longer-term direction.

The company also pointed to continued expansion of its Genius City project in Bali, a combined education and residential hub, as part of its broader Southeast Asia growth plan.

Whether the company can rebuild a BTC treasury position without the fundraising constraints that forced the selldown will depend on the resolution of its ongoing legal proceedings and BTC price conditions at the time of any renewed accumulation.
source: https://www.tradingview.com/news/beincrypto:723589e05094b:0-bitcoin-believers-who-lasted-16-months-just-sold-every-coin-to-survive/

price dropped to approximately $66,500, shedding nearly 6% in hours, after President Trump’s April 1st address signaled harder military strikes against Iran in the coming weeks, shattering the fragile optimism that had briefly lifted risk assets.

The S&P 500 followed into the red, with MSCI’s Asia Pacific index reversing a prior session’s rebound to fall 1.7%. Brent crude jumped more than 5% to above $106 a barrel as traders priced in prolonged Strait of Hormuz disruption. This market fallout is precisely the macro fog that keeps risk assets pinned.

remarks reversed sentiment that had built earlier this week when he indicated a willingness to end the conflict before reopening the Strait of Hormuz, a critical global trade waterway.

The April 1st address walked that back entirely, using language that pointed toward escalation rather than negotiation. Investors received no timeline for resolution – only the prospect of intensified operations.

SUMMARY OF PRESIDENT TRUMP'S ADDRESS TO THE NATION:1. The Iran War will last another "two to three weeks"2. The US will strike Iranian power plants if no deal is reached3. Core strategic objectives are "close to completion" in Iran4. The US "will bring Iran back to the…— The Kobeissi Letter (@KobeissiLetter)

Bitcoin’s digital gold narrative took another hit. With the 30-day rolling BTC-to-S&P 500 correlation spiking to 0.75 – its highest in months – institutional desks are treating Bitcoin as a high-beta tech proxy, not a geopolitical hedge. The safe-haven narrative is cracking.Bitcoin Price Prediction: Hold $65,000 Support or Another Leg Down?

BTC is sitting at $66,500, stuck in a pattern of lower highs since the March peak at $76,000, with each recovery attempt getting weaker and selling pressure capping every bounce before it gets going.

The $64,000 to $65,000 floor is the level that matters most right now, it has held on multiple tests but a clean break below it opens the path straight back to $60,000 where the February wick bottomed out.Source: BTCUSD /

On the upside, $68,000 and then $70,000 are the levels that need to flip for any real recovery narrative to rebuild, and neither looks easy given how heavy every bounce has been recently.

Until one of those scenarios plays out, this is a chart in damage control mode.

The broader bearish trend in BTC’s recent price history makes this inflection point more consequential than it might otherwise appear.

Bitcoin ended March up just 2%, snapping a five-month losing streak – but it remains down roughly 45% from its October peak above $126,000. Apparent demand was already negative by approximately 63,000 BTC as of late last month, per CryptoQuant.

“Stock and commodity markets continue to whipsaw according to Trump’s latest comments on geopolitical developments,” said Caroline Mauron, co-founder of .

“Bitcoin is largely following stocks’ direction, though in the past few weeks it has showed reduced sensitivity to both good and bad news.” That reduced sensitivity may be the one thin positive – but it hasn’t prevented a $6,500 drop in a single session.Tether Gold (XAUT)24h7d30d1yAll time

Notably, gold’s worst monthly performance in 17 years through March – down more than 11% – strips away the easy ‘rotate to safe havens’ narrative. Treasuries and cash are absorbing the flight-to-safety flow instead.

The surged as markets priced in persistent inflation driven by energy supply disruptions, creating a direct headwind for non-yielding assets like Bitcoin. Until the Iran situation resolves cleanly in either direction, Bitcoin is unlikely to decouple.
source: https://www.tradingview.com/news/cryptonews:5bb77386a094b:0-trump-just-signaled-military-escalation-against-iran-and-bitcoin-price-dropped-6-in-hours-is-60-000-next/

Bitcoin
BTCUSD
price slipped below $67,000 on April 2, falling roughly 2.8% in 24 hours and extending a year-to-date decline that now sits near 23%.

The drop aligns with a pattern forming across on-chain data, chart structure, and derivatives positioning. One cohort of buyers has been steadily exiting since January, and the technical picture now threatens a 14% correction if a key level fails.

The Buyers Who Bought the Dip Are Walking Away

BTC HODL waves, an on-chain metric that tracks the percentage of supply held by different age groups, show a dramatic exit from the 1-month to 3-month cohort. On January 14, this group controlled 14.67% of the total Bitcoin supply. By April 1, that figure had fallen to 8.19%, its lowest reading of the year.

The decline accelerated in two distinct waves. The first came post mid-February, when the cohort’s share dropped from 12.72% on February 15 to single digits by February 22. A second aggressive leg down arrived around March 22, when the reading slipped from 9.44% and continued falling without recovery.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

This group represents participants who accumulated during the Q1 drawdown, expecting a bounce. Their persistent selling over nearly three months signals that short-term conviction has evaporated. When recent buyers distribute at a loss rather than averaging down, it typically reflects capitulation rather than healthy rotation.

That behavioral shift is visible on the Bitcoin price chart as well. Since late February, the daily timeframe has been forming a head and shoulders pattern. The pattern validates the weakness that the HODL wave data already flagged.

However, whether the pattern triggers depends on how the derivatives market is positioned around the breakdown zone.

Leverage Leans the Wrong Way

Despite bearish signals from both on-chain behavior and chart structure, the BTC derivatives market has not adjusted defensively. Over the past seven days on the Binance BTC/USDT perpetual pair, cumulative long liquidation leverage totals $1.44 billion in active positions.

Short liquidation leverage sits at $1.03 billion. The roughly 40% skew toward longs means the market remains positioned for upside while the technical picture deteriorates.

The Binance BTC liquidation map sharpens the risk further. Of the $1.44 billion in total long exposure, approximately $1.13 billion clusters at a single level near $64,533. That concentration means nearly 80% of all long positions opened over the past week would be forcibly closed if price reaches that zone.

High-leverage positions using 25x and 50x multipliers dominate the cluster.

Even a modest push into that range could trigger cascading forced selling, turning a controlled decline into a liquidation-driven flush. The mismatch between bearish structure and bullish leverage is where the greatest Bitcoin price risk builds. The BTC price chart now becomes the final arbiter of whether that risk materializes.

Bitcoin Price Prediction and One Critical Line

The daily chart confirms the head and shoulders pattern with Fibonacci (Fib) levels mapping every critical zone. The Fib levels are drawn from the head of the pattern to the completed swing low.

Bitcoin currently trades near $66,425, having already lost the 0.236 Fib level at $67,510.

The measured move from the pattern projects a 14.16% decline, targeting approximately $60,024 on the way down. However, the path runs through $64,888, a level that is slightly above the neckline area for the pattern.

Losing $64,888 would place price directly into the $1.13 billion long liquidation cluster at $64,533 identified in the derivatives section. That overlap transforms the neckline break from a technical event into a leverage-driven cascade. From there the full 14% target, under $60,000 becomes realistic.

For the bearish thesis to fail, Bitcoin price needs a daily close above $69,132 to begin neutralizing the right shoulder. Strength only returns above $71,750, the 0.618 level, and a move past $75,997 would invalidate the head and shoulders entirely.

Head and shoulders patterns do not always resolve in the expected direction. A sudden demand surge or macro catalyst could reverse the structure before the neckline is tested. However, the convergence of capitulating short-term buyers, long-heavy leverage, and declining price structure lowers the probability of that outcome.

A daily close below $64,888 separates a measured pullback from a leveraged flush toward the $60,000 zone, while reclaiming $69,132 would be the first signal that sellers are running out of momentum.
source: https://www.tradingview.com/news/beincrypto:b10f3603c094b:0-one-selling-pattern-reveals-the-next-major-bitcoin-price-risk-of-2026/

Every time Trump makes a statement, Bitcoin moves thousands of dollars up or down. Crypto analyst Max Crypto is now openly calling it out, saying no chart, no indicator, and no strategy can protect traders when one man’s statement can wipe out your position in minutes.

To back his statement, the analyst highlighted a pattern between Trump’s remarks and Bitcoin’s price direction over the past few days.

Trump’s Comments Trigger Sharp Bitcoin Swings

According to Max Crypto, every single major price move in Bitcoin price over the past four days has lined up perfectly with a statement made by U.S. President Donald Trump about the ongoing US-Iran conflict.

The timeline shared by the analyst shows multiple market reactions.

On March 30, Trump posted on Truth Social saying the U.S. was in “serious discussions” with a new Iranian regime, and Bitcoin jumped, with short liquidations totaling about $340 milliom.

But within the same day, the mood flipped completely. Trump turned around and threatened to destroy Iran’s power plants and energy infrastructure, and Bitcoin shed roughly $2,000 just as fast as it had gained.

On March 31, Trump softened his tone again, hinting that the war could end soon. Bitcoin responded by climbing $2,000.

Then on April 1, Trump spoke about “serious discussions” happening with Iran, which pushed Bitcoin up 2.2% to nearly $68,000, while Ethereum surged 4.4% and Solana rose 3.4%.

Then came April 2, and the rug pull nobody wanted. Trump’s primetime address promised to hit Iran “extremely hard” over the next two to three weeks, reversing the short-lived global market rally and sending Bitcoin down 3% to $66,309. Every major token in the top 10 fell with it.

“No Analysis Can Save You Right Now”

Crypto analyst Max Crypto says the market is now driven more by headlines than charts. He noted that indicators like support levels, RSI, or candlestick patterns are becoming less useful. One single Truth Social post can move Bitcoin by nearly $2,500 within minutes.

Traders on both sides are getting wiped out equally. Hawkish Trump comments liquidate longs, while peace hints crush shorts. There is no safe side of the trade right now.

Bitcoin has spent five weeks bouncing between roughly $60,000 and $73,000, while the Fear and Greed Index remains in extreme fear.

Until the geopolitical situation finds a real resolution, Bitcoin traders may have no choice but to watch Truth Social more closely than any price chart.
source: https://www.tradingview.com/news/coinpedia:d76e8d1c9094b:0-is-trump-manipulating-the-crypto-market/

Bitcoin had initially lost the $100,000 level back in November 2025, and since then, the cryptocurrency has continued to trend below this psychological level, showing very little chance of breaking above it soon. Nevertheless, bullish sentiment has not completely died among investors in the digital asset as analysts predict that the Bitcoin price will overtake $100,000. But the main point of contention has been the timing of when this move would happen.

Bitcoin Is Gearing Up For A Rise

According to crypto analyst Master Ananda, the Bitcoin price is currently gearing up for another major rally that could send the price above $100,000 again. The analysis focuses on the longer timeframe as the analyst says it’s time to actually zoom out.

The Bitcoin price had begun the week with a green streak after suffering days of consecutive downturns. This turn into the green territory has reignited positive sentiment toward the cryptocurrency, suggesting that the bearish trend could be coming to an end.

As the analyst explains, the Bitcoin price has been seeing steady upward growth, which suggests a move toward bullish bias. The price had also made two attempts to break out in the month of March. However, there has been a problem where the $74,500 level has served as a roadblock.

Nevertheless, this has not deterred bulls as the crypto analyst is predicting another attempt to break this resistance level. According to Master Ananda, the third time will be the charm, and the price will break higher. After this level, the resistance at $79,000 swims into view. But even at this level, the crypto analyst expected the Bitcoin price to beat.

This move will also be propelled by short liquidations and Fear of Missing Out (FOMO). The former will be a strong motivator since buys will have to be made to settle the liquidated short positions. As the buys become higher, so will the price.

The latter of the two bullish factors, FOMO, plays into the former, where the rising price will trigger more participation from investors. This is because as the price moves, there are more likely to be panic-buys as investors do not want to miss out on further movement. This contributes to the buying pressure, pushing the price up further.

As for the target of this move, the analyst expects the bitcoin price to actually cross $121,000 before peaking. The timeframe for this is set for sometime in May, according to the shared chart, which would make this move only two months in the marking.
source: https://www.tradingview.com/news/newsbtc:6ef4cf82a094b:0-analyst-predicts-bitcoin-price-is-headed-to-121-000-in-2-months-but-there-s-a-problem/

The crypto market is going down today as traders reacted to the rising geopolitical tensions in the Middle East and Exchange Traded Funds (ETF) outflows.

Bitcoin slumped to $66,400, while the market capitalization of all tokens slipped by 2.35% in the last 24 hours to $2.29 trillion.

Crypto market going down as geopolitical tensions rise

Bitcoin and most altcoins are dropping, with Ethena, Dash, Uniswap, Sei, Morpho, Flare, and Avalanche, which tumbled by over 6%.

The ongoing crypto market crash coincided with the performance of European and Asian equities. Data shows that the Euro Stoxx 50 dropped by 1.92%, while the German DAX fell by 1.80%.

Asian stocks also tumbled, with the Hang Seng Index falling by 0.80%.

The Nikkei 225 and Kospi indices fell by over 1%. This is happening in the Americas, where futures tied to the Dow Jones and Nasdaq 100 indices remained in the red.

Crude oil prices continued rising on Thursday, with Brent and the West Texas Intermediate (WTI) rising to over $108 and $107, respectively.

This surge is happening after President Donald Trump's speech, in which he reiterated that the war will continue for longer.

While Trump hinted that the war will end in the next two weeks, analysts believe that it will continue for longer than expected.

As a result, market participants have now embraced a risk-on sentiment, with the CNN Money Fear and Greed Index falling to 10.

The Crypto Fear and Greed Index also remains in the fear zone as investors anticipate that inflation will remain at an elevated level, pushing the Federal Reserve to maintain high interest rates.

The demand for Bitcoin and crypto ETFs has waned

The crypto market is falling as demand from investors continues to wane.

Data compiled by SoSoValue shows that spot Bitcoin ETFs shed over $173 million on Wednesday.

They shed over $296 million last week, bringing the cumulative total net inflows to over $55 billion.

Ethereum ETF outflows rose to $7.10 million on Wednesday after shedding $46 million last month.

These funds have lost assets in the last six consecutive months.

Similarly, spot XRP ETFs lost $1.2 million on Thursday after losing $31 million in assets in the last 30 days.

Other top altcoins like Solana, Polkadot, Litecoin, and Dogecoin have not had any substantial inflows in the past few months.

Crypto volume and futures open interest has tumbled

The crypto market is going down because of the ongoing weak demand in the spot and futures markets.

Data compiled by CoinGlass shows that the futures open interest dropped by 4.4% in the last 30 days to over $103.7 billion.

Bitcoin’s futures open interest has dropped to $46 billion from last year's high of $95 billion.

Crypto futures open interest | Source: CoinGlass

Ethereum’s futures open interest has dropped to $28.3 billion from last year's high of over $60 billion.

Other cryptocurrencies have seen weaker futures open interest in the past few months, a trend that accelerated after the large liquidation event in October.

Demand for the crypto market has also continued falling, moving to over $176 billion from last year's high of over $352 billion.
source: https://www.tradingview.com/news/invezz:619d3ca6f094b:0-here-s-why-the-crypto-market-is-going-down-today/

Metaplanet said it acquired 5,075 Bitcoin during the first quarter of 2026 for around $405 million or about $79,898 per coin, making the company the third-largest publicly-listed Bitcoin treasury, according to Bitcoin Treasuries data.

The Tokyo-listed company now holds a total of 40,177 Bitcoin (BTC) on its balance sheet, with an aggregate cost basis of roughly $4.18 billion and an average cost of $104,106 per coin, according to investor materials shared by chief executive Simon Gerovich.

Metaplanet also reported a year-to-date BTC Yield of 2.8% for 2026, a company metric that tracks growth in Bitcoin holdings on a per-share basis rather than income generated across the treasury.

The company separately announced first-quarter fiscal 2026 operating revenue of 2.97 billion Japanese yen (about $18.6 million) from its Bitcoin Income Generation business, which uses collateral-secured Bitcoin option strategies within a dedicated portfolio that is segregated from its long-term BTC stash.

That compares with full-year fiscal 2025 revenue of roughly $53.7 million from the same segment, taking trailing 12-month revenue to around $71.5 million, according to an April 2 filing.

The filings show Metaplanet is pursuing a two-track Bitcoin strategy by expanding its long-term treasury while using a ring-fenced options business to generate revenue that can later be recycled into additional Bitcoin purchases.

Capital strategy and market reaction

Capital from the income generation can be rolled into long-term Bitcoin holdings after option cycles conclude, allowing Metaplanet to convert derivatives revenue into additional BTC over time, the filing states.

The company left its consolidated revenue and operating profit forecast for the year ending Dec. 31, 2026, unchanged from guidance issued on Jan. 26, 2026. Metaplanet shares traded lower on Thursday, at $302 per share, down 1.95% from $308 at yesterday’s close, even after the announcement, according to data from Yahoo! Finance.

In the broader Bitcoin treasury space, fellow holding company Nakamoto disclosed Wednesday that it sold 284 BTC for $20 million in March and exited a large part of its Metaplanet stake at a loss in the first quarter, reflecting how listed Bitcoin vehicles remain highly sensitive to price swings and capital market conditions.
source: https://www.tradingview.com/news/cointelegraph:7abbe0490094b:0-metaplanet-buys-5-075-bitcoin-in-q1-to-become-3rd-largest-treasury/

While the entire crypto market sold off after Trump’s speech, Ethereum traders bore the sharpest end of the impact.

According to CryptoQuant analyst Darkfost, more than $1 billion in ETH sell volume flooded derivatives within a single hour of Trump’s remarks – $968 million of that on Binance alone, currently the largest derivatives exchange in the industry by volume.

At the time of writing, ETH is trading at $2,046, down 4.07% in the past 24 hours. Bitcoin is at $66,473, down 3.11%. Solana is down 5.62% over the same period.

What Trump Actually Said

Markets had spent two days rallying on expectations that Trump’s primetime address would signal a ceasefire or de-escalation in the US-Iran conflict. Instead, he told the nation the United States would hit Iran “extremely hard over the next two to three weeks” and send it into the stone ages, and offered no plan to reopen the Strait of Hormuz.

The reaction was immediate. The S&P 500 wiped $500 billion in market cap within minutes. Oil jumped. US Treasury bonds moved higher as investors rotated into safety.

Crypto followed, particularly in derivatives.

Why Ethereum Gets Hit Harder

ETH is not Bitcoin when geopolitical risk spikes.

Bitcoin carries a partial “digital gold” narrative that absorbs some safe-haven demand during crises. Ethereum does not have that same identity. It trades as a high-beta risk asset – closer to a leveraged tech stock than a store of value. When institutional desks rotate to safety, ETH is sold first and fastest.

The derivatives data confirm this. The concentration of leveraged long positions on Binance created exactly the conditions for a cascade. Once selling began, forced liquidations amplified the move, pushing ETH into a steeper correction than the broader market justified.

A Pattern That Keeps Repeating

Over the past five weeks, crypto has repeatedly followed the same sequence – hope, Trump headline, reversal. Each rally was built on de-escalation expectations. Each sell-off is triggered by escalation.

The CMC Fear and Greed Index currently sits at 27, in Fear territory. Last month it hit a yearly low of 15 – Extreme Fear – and has only partially recovered since.

As Darkfost noted, financial markets are now in a period of “extreme uncertainty and volatility, making price action increasingly erratic and unstable.”

Until the Strait of Hormuz reopens, that pattern is unlikely to change.
source: https://www.tradingview.com/news/coinpedia:3edcf8e6d094b:0-why-ethereum-took-a-bigger-hit-than-bitcoin-after-trump-s-iran-stone-ages-speech/

Metaplanet CEO Simon Gerovich said on Thursday the Tokyo-based firm acquired 5,075 bitcoin (BTC) during the first quarter of 2026 for around $405.5 million, bringing its total treasury to 40,177 BTC as of March 31.

The latest acquisition positions Metaplanet as the third-largest bitcoin holder among publicly traded companies globally, according to BitcoinTreasuries data. The firm now trails only Strategy, which holds 762,099 BTC, and Tether-backed Twenty One, with 43,514 BTC.

According to a company notice, the additional 5,075 BTC were purchased at an average price of approximately $79,898 per coin. This brings Metaplanet’s total investment in the world’s largest crypto by market cap to roughly $4.2 billion, with a cumulative average purchase price of $104,106 per bitcoin.

The firm noted that its "bitcoin income" business generated sales of 2,969 million yen ($18.6 million) in Q1, utilizing options strategies to lower its effective acquisition costs.

“Within this framework, the revenue generated by the income business will be used as part of our bitcoin acquisition funds, potentially contributing to a reduction in the effective acquisition cost of bitcoin acquired during the same period,” the notice said.

The company reported a "BTC Yield" of 2.8% for the three months ended March 31. That metric measures the percentage change in the ratio of total bitcoin holdings to fully diluted shares outstanding. "BTC Gain," which represents the increase in bitcoin holdings adjusted for dilution, came in at 876 for the quarter, down from 3,672 in the prior quarter, according to the notice.

Treasury expansion and diversification

The Q1 accumulation follows Metaplanet’s announcement last month of $531 million in additional funding capacity for its long-term plan to acquire 210,000 BTC. This expansion coincides with the firm’s broader push into the digital asset ecosystem, including the establishment of venture capital and asset management subsidiaries and recent strategic investments in the Japanese stablecoin JPYC.

For the 2025 fiscal year, Metaplanet reported a non-operating impairment loss of 104.6 billion yen, or about $680 million, linked to bitcoin price volatility. At the same time, the company raised its revenue outlook for the year to 8.58 billion yen from a prior projection of 6.8 billion yen, citing stronger-than-expected performance from its bitcoin income generation business.

Shares of Metaplanet (MTPLF) fell nearly 2% to 302 yen on Thursday, according to Google Finance data. Its U.S.-traded shares on the OTC Markets Group closed up about 0.5% on Wednesday at $1.89, according to The Block’s data.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
source: https://www.tradingview.com/news/the_block:268cbc82f094b:0-metaplanet-adds-5-075-bitcoin-bringing-total-holdings-to-40-177-btc-to-become-third-largest-among-public-companies/