Plus: Will the US actually buy 1M BTC?
|
We’re kicking off today’s squeeze with something extra juicy:
BitDegree’s $30K Season 7 Airdrop
is live!
Earn Bits by simply answering questions and completing micro tasks – they’ll decide your $$ share of the prize pool when the Season ends on April 30.
Oh, and to make it even sweeter,
Uphold’s
adding an extra 1,000 USDC to the mix – but only until March 24.
No time to waste! Soo… you in or what? 😏
GM. It’s a fruity free-for-all in the market today, but don’t worry – we’re here to slice, dice, and serve up the juiciest bits with zero effort on your part.
📝 Sen. Cynthia Lummis reintroduces the BITCOIN Act.
🍋 News drops: EU is worried about Trump, crypto scammers are using new tactics + more
|
🍍 Market flavor today
I meannnn… technically, the chart isn’t all red… Ugh, who am I kidding? It’s still brutal 😣
And things don’t look any better behind the scenes – CryptoQuant says whales aren’t buying Bitcoin like they used to, and US Bitcoin ETFs had $740M in outflows this week alone.
To top it off, BTC demand fell by 103K coins, the fastest drop we’ve seen since mid-2024. Sure, a 22% dip isn’t that crazy for a bull market, but this one feels… heavier.
Glassnode analysts say Bitcoin’s in its post-all-time-high cooldown phase – basically, people who bought the top start bailing. And when BTC crashed to $78K, panic selling kicked in hard.
If this were December or January, the market would’ve seen this as the perfect buy the dip opportunity. But now, everyone’s hesitating.
And with no new buyers stepping in, the market could stay stuck in this correction phase for a while.
The hesitation comes down to tight liquidity, the Bybit hack, and economic uncertainty – especially Trump’s tariff drama.
Which, speaking of that last one… what if this is all part of the plan?
Bitcoin commentator Anthony Pompliano has this theory: Trump and Secretary of the Treasury Scott Bessent are intentionally tanking asset prices to pressure Fed Chair Jerome Powell into cutting interest rates.
Here’s the logic:
-
Make investors panic → they dump risk assets like stocks and crypto;
-
That money moves into safer assets like US government bonds;
-
Higher bond demand = higher bond prices = lower bond yields;
-
If bond yields fall enough, the Fed might decide to cut interest rates to match market conditions.
Why would they do this? Simple: the US government has about $7T in debt that needs refinancing soon.
With interest rates high, paying off and reissuing that debt would be crazy expensive. But if the Fed cuts rates, the government can borrow at a cheaper rate and save a ton of money.
|
And just to keep things extra interesting, February’s Consumer Price Index (CPI) report came in lower than expected:
-
Monthly CPI: +0.2% (vs. 0.3% expected);
-
Year-over-year CPI: +2.8% (vs. 2.9% expected);
-
Monthly core CPI (excludes food & energy): +0.2% (vs. 0.3% expected);
-
Year-over-year Core CPI: +3.1% (vs. 3.2% expected).
Translation: inflation is cooling down. That should be good news – the Fed doesn’t have to keep rates high.
Normally, a report like this would pump crypto – but this time, the market barely reacted. Investors are just too worried about everything else goin’ on.
So yeah… they say God gives his toughest battles to his strongest soldiers. But at this point, please, let someone else take a turn – the crypto community has been through enough already…
|
🥝 Memecoin harvest
Even your normie friend might ask if “it’s too late to buy” after seeing these charts:
Check out these memecoins and plenty more here.
|
Quick reminder: last week, Trump signed an executive order to establish a strategic Bitcoin reserve – which, by all accounts, is HISTORIC… and the market’s reaction was whatever tf we witnessed in the Market Flavor section of this newsletter.
Why? Long story short: the government didn’t really promise that they’d buy more BTC = no guaranteed pump.
(For the full breakdown, read this.)
But Senator Cynthia Lummis doesn’t wanna let that slide. She reintroduced the BITCOIN Act:
If this thing makes it through, here’s what it means:
-
Self-custody rights are protected;
-
The US Treasury is getting its own Bitcoin vaults;
-
The government commits to buying 1 million BTC – about 5% of the total supply – turning Bitcoin into the digital equivalent of America’s gold reserve;
-
This all gets funded by reallocating existing government money.
Lummis isn’t alone either – she’s got some new Republican co-signers, including Jim Justice, Tommy Tuberville, Roger Marshall, Marsha Blackburn, and Bernie Moreno.
Obviously, there’s still a long journey ahead – the bill has to survive Congress first. But it’s wild to think that something like that is even on the table.
|
Now you’re in the know. But think about your friends – they probably have no idea. I wonder who could fix that… 😃🫵 Spread the word and be the hero you know you are! |
|
🍋 News drops
🤨 Meteora co-founder Ben Chow’s X account called out DefiTuna’s founders for profiting from memecoins like MELANIA and MATES. Meteora’s official account claimed his account got hacked… and now both of these posts are gone because – plot twist – both accounts got hacked.
🕰 The SEC delayed its decision for XRP, Solana, Litecoin, and Dogecoin ETFs. But no need to worry – Bloomberg ETF analyst James Seyffart says it’s just business as usual.
⛏ A solo Bitcoin miner with a tiny 480 GH/s rig beat industrial giants with 230,000+ GH/s and won the full $263K reward. Absolute underdog flex.
🚨 Scammers got creative in 2024. California’s financial watchdog received 2,668 complaints and found seven new crypto and AI scam tactics.
😬 EU finance officials worry that Trump’s support for crypto will disrupt Europe’s financial stability. The ESM says the digital euro is no longer just an option – it’s essential for maintaining control.
|
