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After its not-so-impressive failure to keep the $70,000 crown, Bitcoin is now limping at a modest $67,700. What followed? A delightful flurry of short-term volatility, because, you know, when Bitcoin sneezes, the market catches a cold. Traders, as always, had their reactions ready, and the loss of that psychological support turned the market into an unpredictable circus.
Ross Edwards, Ripple’s prophet of profit, recently declared XRP’s destiny stretches far beyond its original sin of moving money across borders. Centralized exchanges? Child’s play. Now, the company’s “aggressively pushing” liquidity onto the XRP Ledger, as though it’s the last train to Moscow and the only ticket is a blockchain.
The Weekly Close: A Moment of Pious Reflection
Recent Bitcoin price swings have drawn attention to money moving through the market. Geopolitical tensions caused a quick drop that pushed Bitcoin close to $63,000. Buyers soon stepped in, helping the price recover above $70,000 within a few days. At the same time, blockchain data showed a large amount of Bitcoin leaving exchanges, pointing to strong activity from major investors.
Oh, and the macro charts? They are positively stomach-churning. Ethereum, the once grand champion of altcoins, has barely managed to drag itself over the $2,000 threshold, as if crawling past its 2021 peak in some sort of wounded triumph. Yet here it stands, more than 60% away from its all-time high, teetering on the edge of a precipice. How delightful!
Take the recent Middle East tango-traditional markets were out cold, but crypto? Oh, it was doing the cha-cha with volatility! Bitcoin funding rates went negative faster than a Brooks comedy at a serious film festival. Meanwhile, derivatives were the real stars, with Perpetual Futures volume hitting $92 trillion in 2025. Spot trading? Pfft, that’s so last century!
Strategy (Nasdaq: MSTR), the company with the largest corporate stash of bitcoin, casually tweeted on X (because, of course, that’s where all major financial revelations happen) on March 6 that some of the planet’s heftiest asset managers are holding its stock. That’s right, the kind of investors who could probably buy a small country without blinking.
I recently discussed the inherent issues with traditional finance on The Crypto Beat. I explained that established institutions, like Morgan Stanley with its combined trading and custody services, are fundamentally conflicted. Unlike crypto-native companies, these traditional firms have built-in conflicts of interest that aren’t easily resolved – it’s not just a matter of compliance, but a core problem with how they operate.
In a post that surely sent hearts aflutter, Luke proclaimed this to be a textbook bull flag after an 8-month consolidation. A pole height measured move points to $11, while the 1.618 Fib extension whispers of $11.20. Oh, the precision! But let’s not forget, a 700% rally from the current price is like expecting a snail to win a sprint. Possible? Perhaps. Probable? Well, that’s a different kettle of fish.
A New York federal judge has allowed a large group of investors to move forward together with their lawsuit against Tether and Bitfinex. Judge Katherine Polk Failla’s decision means these investors won’t have to file separate lawsuits; they can proceed as a class action.