BTC is preparing to close March with a net loss, extending its losing streak. Historically, BTC has never been in the red for three consecutive months at the start of a new year.
BTC extended its losing streak, poised to close a six-month losing streak. After an eventual net loss in March, BTC may go through the first six-month streak in the red since 2018. BTC is down 24.42% in Q1, still within the usual range for a mature market.
Back in 2018, BTC had its first dramatic crash of over 36% at the end of the year, extending the six-month streak between August 2018 and January 2019.
On the last day of March, BTC traded at $66,784.54, remaining within the range from last week. Over the past month, BTC briefly reclaimed the $75,000 range before crashing again, with no hope of recovering above $80,000 in the short term.
Why is BTC extending its slide?
BTC has usually been defiant, finding a period of hype to stage a recovery. The March performance was seen as breaking the losing streak that started in October 2025.
The first quarter came with much more complex geopolitical conditions. The US war against Iran and the stalemate in the Strait of Hormuz elevated oil prices and tested other assets.
BTC recovered only after signs of an eventual resolution. The price sank as the Iran situation proved more complicated than expected, suggesting a longer military engagement.
The crypto fear and greed index also signaled extreme fear for an entire month, a sentiment not seen since the 2022 bear market. The period coincided with one of the most volatile months for oil prices.
BTC has only a 1.09% net loss in March, but its price has shown that it is extremely fragile and reactive to bad news. At the same time, the asset still sees significant ETF inflows and continued purchases from Strategy.
Is BTC preparing for a long bear market?
The current BTC price levels signal BTC may be oversold, with the potential for a rebound. BTC is still in an accumulation zone, with some signs that whales have slowed down their selling.
BTC is historically oversold, but an immediate rebounce is less likely, as traders remain extremely fearful. | Source: Bitbo
A recovery or rally, however, is not immediately probable given the panic among derivative traders. BTC is still seen as an investment with a high potential upside, betting on an overall market recovery. The coin is not behaving as a store of value, but rather as a speculative tool that captures higher upside when market conditions are right.
BTC is down by more than 41% from its October peak, still a relatively small drawdown compared to the more volatile market in 2018-2019.
BTC had strong downside protection in the options market at $66,000 and even $60,000. The current losing streak has led to predictions of an ongoing drawdown in April.
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American Bitcoin Corp now holds 7,000 BTC following its latest addition
The BTC mining firm with Trump family ties, American Bitcoin Corp, is maintaining its significant Bitcoin stockpile despite many companies selling their holdings.
The firm is climbing up the BTC reserve poll, as Metaplanet also received a $255 million cash injection that the company plans to use to substantially expand its Bitcoin holdings.
American Bitcoin and Metaplanet are primed to climb up the rankings as others slow down. | Source: BitcoinTreasuries.net
Expansion plans for American Bitcoin and Metaplanet reserves
American Bitcoin Corp (ABTC) currently holds a balance of 7,000 BTC, valued at approximately $464.14 million. Details about the firm’s cost basis and profit/loss figures are not released publicly.
American Bitcoin has an enterprise value of $922 million, significantly higher than its Bitcoin holdings of $464 million. This indicates that investors are considering the company’s potential for future Bitcoin accumulation and its ability to compete in the market.
The firm’s basic market capitalization sits at $748 million, giving it a basic Market-Net-Asset-Value (mNAV) ratio of 1.61. This means that American Bitcoin Corp’s stock is trading at a 61% premium over the value of its Bitcoin holdings.
On the other hand, Metaplanet Inc., often called “Asia’s MicroStrategy,” has reportedly received the $255 million payment from its previously announced global institutional investor raise, and the company intends to use the money to purchase Bitcoin, despite being down about 38.46% on its current holdings.
At current prices, Metaplanet will be able to acquire over 3,800 BTC with the capital, making it the third-largest publicly traded corporate holder of Bitcoin. Metaplanet’s current holdings stand at 35,102 BTC, valued at $2.33 billion, with an average purchase price of $107,716 per BTC. The firm’s diluted market cap is $3 billion, with a diluted mNAV of 1.15.
Is Bitcoin losing institutional ground to AI?
While Metaplanet and American Bitcoin Corp. continue to accumulate Bitcoin, other firms, particularly miners, have been selling portions of their reserves to either fund infrastructure or support their entry into other business ventures, like artificial intelligence and high-performance computing.
Core Scientific, for example, sold approximately 1,900 Bitcoins for $175 million in January 2026 and has plans to liquidate most of its remaining holdings from its peak of 9,618 BTC. The company is now focusing on AI infrastructure, and has signed a $10.2 billion, 12-year contract with CoreWeave.
Cango recently sold 4,451 Bitcoins, about 60% of its reserves, for $305 million. The company hired a former Zoom executive as its AI chief technology officer and began deploying GPU computing nodes across its mining sites.
Bitfarms, now rebranding to Keel Infrastructure, saw its reserves drop from a peak of 3,301 BTC to 1,827 BTC. The company’s chief executive made it official, stating that the company is “no longer a bitcoin company.”
Hut 8 announced that Bitcoin is no longer a long-term focus, and its holdings of roughly 13,696 BTC are set to be gradually reduced. The company has since signed a $7 billion, 15-year lease with Fluidstack for 245 megawatts of AI infrastructure in Louisiana.
Analysts project that at this rate, AI could contribute up to 70% of revenue for some mining firms by late 2026.
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Why did the OpenEden team choose not to sell tokens?
Pushing aside the 97% drop from its token’s peak, OpenEden announced that all team and advisor tokens would remain locked for an additional nine months, so that no team or advisor tokens will hit the market until at least January 2027.
The announcement came in a statement released via OpenEden’s X account, in which the team outlined the projects they are committing to, summarized what the protocol has built over the past year, and declared that they believe the most important phase of OpenEden’s growth still lies ahead.
EDEN continues to trade within its current range, in keeping with the token’s muted performance since launch.
OpenEden’s token price remains muted despite the renewed commitment by its team. Source: CoinMarketCap
Why did the OpenEden team choose not to sell tokens?
According to the X statement, the extension seems to be voluntary. Under the revised vesting schedule, no team or advisor can begin vesting until January 2027, which is a nine-month addition to what was already a long wait.
The project described the move as a “collective decision” reflecting commitment to “scaling from a position of strength and long-term alignment.”
However, in a practical sense, the extension removes one of the most persistent issues affecting token prices in early-stage projects, which is the fear that insiders would sell their assets the moment they are allowed to.
Pushing the vesting date to January 2027 suggests that OpenEden’s team has no intention of selling anywhere near the current value, and that they expect the token to be worth more nine months from now.
As such, it’s a gamble: the move could either be a vote of confidence or a sunk-cost commitment, depending on how the token moves.
How did the token fall so low?
EDEN is currently trading at around $0.029, which is a decline of around 97% from its all-time high. However, the token did not collapse because of poor management or because OpenEden could not complete its goals.
Success in the real-world asset (RWA) sector comes in the form of high TVLs and institutional partners, not specifically via price increases.
This means that while big banks or hedge funds might use a protocol for its efficiency and security (in turn boosting its TVL and reputation), the actual profit gained often stays within the project itself instead of flowing to the token.
Essentially, protocols like OpenEden may be useful, while their tokens are seen as a separate, volatile asset that its institutional partners may not be willing to hold.
OpenEden promises future growth
Despite the pricing issues, the portfolio that OpenEden has built since last year cannot be dismissed. Its TBILL Fund (a tokenized US Treasury bill product) received an AA+ rating from S&P Global in October 2025, making it one of few tokenized fund projects to receive an investment-grade rating from a major agency.
OpenEden holds over $100M across its products. Source: RWA.xyz
Additionally, BNY, the world’s largest custodian bank handling over $52 trillion in assets, was appointed as the manager and primary custodian of the fund’s underlying assets.
USDO, which operates as OpenEden’s regulated yield-bearing stablecoin, also expanded across various centralized exchanges, brokers, and DeFi markets. On top of that, PRISM, now described as the market’s first regulated tokenized multi-strategy portfolio with no direct competitor in the RWA sector, was launched.
The project also closed a strategic investment round backed by Ripple, Lightspeed Faction, and Falcon X, combining both crypto and traditional investors in a round that reflects the positioning that OpenEden is trying to take up at the intersection of DeFi and traditional finance.
Nonetheless, the extension of its token vesting period on top of naming BNY as a custodian and the S&P Global ratings on its core product removes a layer of uncertainty for existing EDEN holders.
But whether “the most important phase of OpenEden’s growth lies ahead” like OpenEden believes is true or not, can only be proven in the coming nine months.
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Google Says Breaking Bitcoin May Need 80% Fewer Qubits Than Expected and Bitcoin’s Own Upgrade Ma...
Google’s quantum computing division just released a research paper that puts Bitcoin’s very own existence into question. The research from the Quantum AI team says that cracking Bitcoin’s elliptic curve cryptography could require less than 500,000 physical qubits. For context, this is roughly 80% less than earlier estimates which were in the millions. The same study also mentions that a sufficiently advanced quantum computer could intercept a live Bitcoin transaction in about nine minutes, which is faster than the network’s average confirmation time of around 10 minutes, succeeding about 41% of the time. At the same time, Google has already indicated that it will complete migration of its own authentication infra to post-quantum cryptography by 2029. This just shows that the company building the hardware recognizes the threat and the urgency needed to act.
Source: Google Quantum AI
There are roughly one-third of all BTC in circulation today, or 6.9 million BTC, worth around $456 billion that sit in wallets where the public keys are visible on-chain. Part of the reason for that is Bitcoin’s own Taproot upgrade, a protocol improvement that was supposed to enhance privacy but inadvertently defaulted to exposing public keys. Here’s what the research actually says, what Taproot changed, and where Bitcoin’s quantum preparedness actually stands right now.
Google Lowered the Qubit Estimate by 80%: Here’s What That Means
The quantum threat for Bitcoin has been a narrative for years now. However, this week, researchers from Google quantum AI division released a paper that narrowed the timeline even further. As reported in SpendNode and Crypto Briefing, the study found that breaking Bitcoin’s ECDSA cryptography may require only 500,000 physical qubits, which is far less than previous estimates that ranged into the millions. Approximately 1,200 to 1,450 high-quality logical qubits could be enough for an attack. The paper also mentions that a powerful enough quantum computer could intercept a live Bitcoin transaction within roughly nine minutes and redirect transactions faster than the network can confirm transactions around 41% of the time.
It’s important to note that a huge caveat still exists. No quantum computer in 2026 is anywhere close to executing this. Projections for a cryptographically relevant quantum computer vary from being 10 to 15 years away with more conservative outlooks pointing 20 or even 40 years. That, however, is actually besides the point. The resource estimate just dropped by 80% and that means what was seen as a multi-generational threat becomes a problem that we could realistically see within this decade. The shift isn’t that the threat has arrived, it’s that the assumptions underpinning Bitcoin’s security runway just got a lot less comfortable.
One Third of All Bitcoin Is Already Exposed and Taproot Made It Worse
Data from SpendNode states that roughly 6.9 million BTC, around one-third of all Bitcoins in circulation, sit in wallets where public keys are visible on-chain. At the time of writing, this is around $456 billion worth of Bitcoin that is essentially exposed to a potential quantum attack. The vulnerability comes from how Bitcoin addresses work: when a transaction is sent, the sender’s public key is briefly revealed on-chain. In theory, a sufficiently powerful quantum computer could use that public key to reverse-engineer the corresponding private key and redirect funds before the network finalises anything. That mechanism is the core of what Google’s paper is describing.
The number of wallets under threat is large and Bitcoin’s own Taproot upgrade that went live in November 2021, actually inadvertently widened this number. The upgrade was designed to improve privacy and efficiency which it delivered on. However, Taproot, by design, makes public keys visible for Taproot-type transactions. This means, every wallet that has ever sent BTC using a Taproot address has their public keys visible on-chain. That said, wallets that have only received transactions and never sent are safer since the public keys stay hidden behind a hash. There are no quantum computers that can act on this vulnerability at this stage. However, the concern is that the gap between “doesn’t exist” and “does exist” just got measurably narrower.
Google Says 2029: Bitcoin Has No Plan
On March 25, Google set a hard deadline of 2029 for its own authentication services to migrate to post-quantum cryptography. According to DL News, the company moved from demonstrating below-threshold error correction to setting a firm corporate migration deadline in just 16 months. That signal in itself is very hard to push aside. The organisation actually building the hardware is telling its own engineers to be ready in three years. Bitcoin’s position looks considerably different — no coordinated plan, no funding structure, no agreed timeline. The only formal step on record is BIP 360, a proposal for a quantum-resistant address format recently merged into Bitcoin’s improvement repository per Decrypt. It’s a starting point for a conversation, not a deployment.
The deeper issue is structural. Bitcoin’s last major cryptographic upgrade, Taproot, took years of community debate before finally activating in November 2021 — and that was a far less contentious change than a full post-quantum migration would be. Bitcoin’s decentralised, consensus-driven governance has historically been one of its genuine strengths — it has kept bad ideas out just as effectively as it has slowed good ones down. That trade-off works well when threats are abstract and timelines are long. It works less well when the company building the relevant hardware has just put a date on it. Three years is not a lot of runway for a network that takes years just to agree on the shape of a proposal and as Benzinga noted, the timeline just set by google puts Bitcoin developers “on the hot seat”.
What This Means for BTC Holders and What to Watch
The 2029 deadline is for Google, not Bitcoin. That said, the fact that the company building the hardware has set a date for its own systems to migrate says a lot about the timeline for potential quantum capabilities that could threaten Bitcoin’s cryptography. For now, wallets that have only received and never sent a transaction using Taproot are on the safe side. On the other hand, the most exposed Bitcoin is concentrated in wallets that have actively transacted using Taproot addresses.
When we come to the market side, this news has not moved price in any meaningful way just yet. Bitcoin is about to close Q1 at over -24%, making it the weakest first quarter since 2018. This decline, however, has had nothing to do with the quantum fear but is instead a result of the Iran conflict and the broader macro economic headwinds.
The timing of this news however is certainly not favourable for Bitcoin. If this narrative starts to pick up steam, it could rattle an already fragile market and cause a further decline in price. Whether proposals like BIP 360 evolve into actual activation discussions, and whether Google’s quantum milestones, especially progress toward the ~1,200 logical qubit threshold identified in its research, begin to materialize are what needs to be monitored at this stage. The threat isn’t immediate, but the timeline is no longer abstract and that’s the shift the market hasn’t priced in yet.
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Ethereum posts $12.51 million in weekly sales as NFT activity rebounds
Ethereum led a rebound in NFT activity this week with a 70% sales growth and $12.51 million in sales across all Ethereum-based collections.
Total Ethereum NFT volume, including wash trades, reached $13.17 million, up 84.68% from the prior week, with 5,449 buyers, a 1.66% increase.
As per CryptoSlam data, the total market sales volume reached $44.58 million, up 4.34%. NFT buyers also climbed 19.03% to 269,408, NFT sellers rose 12.06% to 315,062, and total transactions surged 163.63% to 2,098,514.
Ethereum leads NFT rebound with 70% sales growth
Ethereum reclaimed the top position among blockchains by sales volume with $12.51 million in weekly NFT sales, up 75.64% from the prior period. Its wash trading figure of $662,142 rose 6,482.50% week over week. The chain’s buyer count of 5,449 was up just 1.66%.
Bitcoin ranked second with $11.74 million in sales, though that figure was down 18.81% from the prior week. Its buyer count rose 42.88% to 12,682, and total volume, including wash trades, reached $11.77 million, down 18.77%.
Blockchains by NFT sales volume. Source: CryptoSlam
Polygon placed third with $6.85 million in sales, up 8.23%, though its total volume, including wash trades, reached $21.13 million on the back of $14.28 million in wash trading activity. Polygon attracted 17,220 buyers, up 193.26%, the largest percentage buyer gain of any top chain this week.
Base recorded $5.04 million in sales, up 2.11%, with 39,450 buyers, a 3.43% increase, and total volume including wash trades of $9.85 million. Immutable posted $2.20 million in sales, down 18.94%, with 5,734 buyers, up 29.49%.
Solana generated $1.74 million in sales, nearly flat at a 0.34% decline, with 103,579 buyers. BNB Chain shed 50.14% in sales to $1.50 million, though its buyer count of 21,839 rose 24.99%.
Courtyard tops collections as CryptoPunks posts recovery
Courtyard on Polygon retained the top collection ranking by sales volume with $6.03 million across 81,415 transactions, up 9.30% and 20.83% respectively. The collection drew 11,716 buyers, up 4.30%, and 2,562 sellers, down 35.95%.
$X@AI BRC-20 NFTs on Bitcoin placed second with $6.01 million in sales across just 9 transactions and 7 buyers, down 11.77% from the prior week. A Base chain address ranked third with $3.22 million across 30,899 transactions, up 0.19%, with 28 buyers and 438 sellers. Flying Tulip PUT on Ethereum placed fourth with $1.97 million in sales across 196 transactions and 9 buyers, down 51.79% from the prior week.
$QCLAW BRC-20 NFTs on Bitcoin ranked fifth with $1.65 million across 12 transactions and 6 buyers, down 36.73%. CryptoPunks on Ethereum ranked sixth with $1.15 million in sales, up 1,876.67% from the prior period, across 15 transactions, up 1,400%. The collection saw 11 buyers and 11 sellers, each rising 175% on the week.
Bitcoin Ordinals dominate top individual sales
The largest single sale of an NFT within the week was an $X@AI BRC-20 NFT, which was sold for 54.2999 BTC, seven days ago. The next largest sale was another $X@AI BRC-20 NFT, which was sold for 31.872 BTC, approximately one day ago.
CryptoPunks #4770 was the third-largest, with a sale of 117 ETH, three days ago. This sale was the most expensive sale involving an Ethereum-based NFT within the top five.
SEC decisions scrutinized as senator seeks records on crypto enforcement rollbacks
U.S. securities regulators have been under more strain than ever from critics this time around on rollbacks of cryptocurrency regulation, and a key senator asks whether they have internal information on any new stock trading or SEC policy decisions.
Senator Richard Blumenthal, the top Democrat on the Senate investigations subcommittee, has written to SEC Chairman Paul Atkins to share records and exchanges related to the government’s high-profile digital asset cases, including the dismissal of its claims against Tron founder Justin Sun.
Blumenthal’s request comes weeks after the SEC’s interim head of enforcement, Judge Margaret Ryan, departed. Ryan commenced the job near the end of 2025 and left in March of this year.
According to reports, Ryan was seeking to delve more deeply into pursuing fraud charges involving those in President Donald Trump’s inner circle. However, people familiar with the matter say he faced a setback because Atkins and other top Republicans on the commission opposed it.
“Ms. Ryan’s abrupt departure from the agency raises questions in light of her short tenure and reports that senior leadership intervened to prohibit the Division of Enforcement from pursuing cases against certain cryptocurrency companies,” Blumenthal said in the letter.
SEC drops high-profile crypto cases amid allegations of political influence
According to reports, tensions have risen over Sun’s case. During the Biden administration, the SEC charged Sun and his three affiliated companies with conducting unregistered sales of TRX and BTT tokens. Charges that stood against him also included manipulating TRX prices through wash trading and paying celebrities, including actress Lindsay Lohan and influencer Jake Paul, to promote the tokens without proper disclosure.
Under the Trump administration, the SEC dropped several high-profile cases against major crypto firms, including Coinbase and Kraken, which had been accused of failing to register correctly. In May, the agency also dismissed charges against Binance after alleging the platform had misrepresented its trading controls.
Just this month, the watchdog has thrown out charges against Sun, the Tron Foundation, and BitTorrent (now Rainberry) and ordered the latter to pay a $10 million civil penalty to the agency. Sun has been a vocal supporter of Trump and has made huge investments in Trump-family-backed crypto ventures, including World Liberty Financial and Trump’s memecoin $TRUMP.
“This is a clear example of how President Trump’s blatant crypto corruption creates back doors for his family’s business partners, creating a pay-to-play enforcement regime that turns a blind eye to grave threats to national security and consumer protection,” Blumenthal said in the letter.
Moreover, according to Blumenthal’s letter, Ryan’s short tenure raises concerns that political actors (in particular, the White House) influenced the decision not to approve or decline certain cryptocurrency cases.
The senator is also looking for communications between senior SEC officials and industry leadership partners, including the developers who run World Liberty Financial, now a cryptocurrency company supported in part by President Trump supporters, said Blumenthal.
Critics say the SEC’s recent enforcement approach, which was so aggressive earlier, has brought dozens of crypto‑related enforcement decisions in a single year and has since transitioned to a more lenient or selective approach. Under former SEC Chair Gary Gensler, there were 46 crypto‑related enforcement efforts in 2023 alone, the best year on record for the agency.
Legal experts note the pivot has been noticeable: after a series of disputes with the biggest platforms, the SEC in 2025 dismissed or paused litigation against several crypto firms, particularly exchanges and trading platforms, amid a major regulatory focus.
Blumenthal probes SEC shift as lawmakers scrutinize crypto oversight
The tone has shifted sharply throughout Washington. Supporters of the newly adopted SEC structure say that explaining the rules could bring innovation and clarity, and that enforcement will be lower at firms that comply with disclosure and registration requirements. Opponents argue that weakening enforcement could put investors’ interests at risk and grant bad actors impunity.
Blumenthal’s inquiry probes into the reasons behind this shift. In his letter, he specifically asked for SEC communications regarding potential enforcement against crypto companies, including interactions with political appointees or outside actors.
He expressed deep concern and discomfort with the abrupt leadership change and enforcement decisions that impose strict limits on the agency’s ability to prosecute corporate crimes in the fast‑paced digital asset space.
Industry reactions are mixed. Crypto advocates are betting that we are taking a step forward rather than moving from legal war to a firm rule-making scheme, and that, through various initiatives, they will see how different tokens and business models apply to rules in U.S. securities law.
For now, Blumenthal asked Atkins to provide records and communications between the SEC’s enforcement division and its leadership by April 13th. He has also requested records between his office and any member of the Trump family.
And so lawmakers and regulators alike will be closely watching as this record request goes out, to see how the SEC will balance innovation with its basic function of protecting customers.
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