BlackRock just deposited an additional $4,248 BTC ($281 million) and $5,734 ETH ($11 million) into Coinbase Prime's account.

Bitcoin is experiencing the most significant decline in volatility in its history.

Analyst: The Bitcoin/NASDAQ ratio is crucial. Historically, Bitcoin has always held at the 12-month exponential moving average (EMA) on this relative strength chart. A break below this level would be a structural sign of weakness.

MacroMicro: In the fourth quarter of 2025, hedge funds aggressively scaled back their investments in Bitcoin ETFs, reducing total holdings by 28% compared to Q3 levels. This pullback was triggered by the October peak above $126,000, which prompted a systematic de-risking, according to CF Benchmarks.

Today, Bitcoin is trading around $66,000, down nearly 50% from its previous high, amid uncertainty surrounding new tariffs.

This represents a mechanical retreat: yields on basis trades have collapsed from double digits to approximately 4%, as arbitrage has crowded out other instruments. This has diminished the carry effect that had previously supported positions.

The Crypto Fear & Greed Index has dropped to a record low of 5 out of 100 — an “extreme fear” level, even lower than after the Terra collapse in 2022.

The 20 millionth coin has been mined on the Bitcoin network, leaving only 1 million BTC until the maximum supply limit of 21 million.

At the current issuance schedule, the last BTC is expected to be mined around the year 2140.

The average cost of mining 1 BTC as of mid-March is estimated at around $88,000, while the price of the leading cryptocurrency is about $69,000 — meaning miners are losing roughly $19,000 on each coin on average.

Analyst: The shift in sentiment coincides with Bitcoin returning to its short-term holder cost basis level, which stands at $81,000 and continues to decline.

Cryptocurrency trading volume exceeded $20 trillion in the first quarter

The total trading volume on the crypto market in the first quarter of 2026 reached $20.57 trillion, according to a report from Coinglass. Of that amount, $18.63 trillion came from derivatives and $1.94 trillion from spot trading.

Binance remains the market leader with a 34.9% share of the derivatives segment and assets totaling $152.9 billion. It is followed in this segment by OKX, Bybit, Gate, and Bitget. Hyperliquid exchange entered the top ten.

Overall, trading activity on crypto exchanges has declined, with the majority of volume concentrated in derivatives and on the largest platforms.

Justin Sun announced the launch of an AI system for investigating crypto-related crimes — it analyzes large volumes of data and helps identify suspects more quickly.

According to him, cases worth over $1 billion have already passed through the system, and about $100 million will be allocated as rewards for useful information and assistance in investigations.