Schlagwort: crypto business

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ZEC dips 3.5% despite broader crypto market’s recovery

Key takeaways

  • ZCash is one of the worst performers among the top 30 cryptocurrencies by market cap, down 3.5% in the last 24 hours.
  • The coin could rally higher in the near term amid demand for privacy-focused cryptocurrencies. 

ZEC slips as broader market recovers

ZEC, the native coin of the Zcash ecosystem, is down by 3.5% in the last 24 hours, making it one of the worst performers among the top 30 cryptocurrencies by market cap.

It is trading at $241 per coin, down from the $257 recorded on Tuesday. The bearish performance comes amid a decline in Zcash’s derivatives data.

According to CoinGlass, ZEC’s futures’ Open Interest (OI) reads $438 million, down from the $473 million recorded on Tuesday, reflecting the decreased notional value of open contracts.
Typically, an OI decline during a dip in spot price reaffirms the bearish narrative as traders anticipate further recovery.

Technical outlook: Will Zcash price recover above $250 soon?

The ZEC/USD 4-hour chart is bullish but inefficient as Zcash’s price faced rejection above the $250 psychological level. 

It is currently trading below its 50-day EMA of $248c, suggesting that the bulls failed to take advantage of the recent rally. 

Despite that, the near-term bias is cautiously bullish as ZEC holds above the recent lows, while remaining capped beneath the long-standing descending resistance line.

If the bulls regain control and ZEC’s daily candle closes above $250, it would confirm the upside breakout and open the path toward the 200-day EMA at $274, followed by the 23.6% Fibonacci retracement level at $362. 

The Moving Average Convergence Divergence (MACD) line has turned higher above the signal line and moved back into positive territory on the 4-hour chart, suggesting strengthening upside pressure. 

ZEC/USD 4H Chart

The Relative Strength Index (RSI) at 61 reinforces the recovery of bullish momentum without signaling overbought conditions.

On the downside, if the rejection candle holds, ZEC could drop towards the 38.2% Fibonacci retracement level at $231, followed by the rising trendline near the $200 psychological support level.

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SOL price stalls below key resistance even as Solana’s fundamentals surge

  • Solana (SOL) price consolidates near $80 support amid strong fundamentals.
  • Institutional staking and brokerage access boost Solana adoption.
  • Key resistance at $87.65, and a breakout could target $97–$107.

Solana’s native token, SOL, has been showing signs of consolidation as it struggles to break through key resistance levels.

Despite a slight bounce today, the price remains confined below the $88 range.

At the same time, traders should closely monitor the altcoin which is currently hovering near the critical support at around $80, which has acted as a short-term floor for buyers.

On the surface, Solana’s technical structure appears cautious, with short-term momentum indicators showing weak buying pressure, but underneath this, Solana’s ecosystem is growing at a remarkable pace.

Solana’s fundamental strength fuels long-term confidence

One of the most compelling aspects of Solana’s recent performance is the surge in institutional and real-world adoption.

The network now hosts more than $2 billion in tokenized real-world assets according to rwa.xyz.

This milestone underscores Solana’s role not just as a blockchain for decentralized applications, but as a platform capable of handling complex financial instruments.

Institutional interest has also taken a significant step forward.

Staking products offering competitive yields have been launched, allowing both retail and institutional investors to earn returns on their SOL holdings.

These developments provide additional utility and financial incentives for participants, reinforcing Solana’s position as more than a speculative asset.

Adding to this, several traditional brokerage platforms including Galaxy now offer custody and trading services for SOL.

This integration reduces barriers for institutional investors and opens the door for mainstream adoption.

With access to regulated platforms, capital inflows could increase steadily, strengthening the network’s financial layer and liquidity.

On-chain activity remains robust as well, and the blockchain continues to see high transaction throughput, and its dominance in tokenized equity markets demonstrates that adoption is moving beyond hype-driven speculation.

Taken together, these factors highlight a token with real-world utility and strong growth potential.

Technical resistance holds back SOL’s price

Short-term market sentiment remains cautious, with recent outflows from Solana-focused ETFs reflecting institutional hesitancy despite the network’s improvements.

While the fundamentals are building, the price is still confined by technical hurdles.

SOL has found immediate resistance near $87.65, with historical data suggesting further caps at $97.56 and $106.95.

Solana price chart

On the downside, the support zone at $75.85–$80.00 is critical for near-term stability.

A daily close below these zones could trigger a sharper decline toward $63.72, which has historically acted as a longer-term support.

Solana price outlook

Overall, Solana (SOL) is at a pivotal point where its fundamentals are strong, but the market has yet to fully recognize them.

Price action will likely depend on whether buyers defend support and whether institutional capital begins flowing into the network.

In the short term, traders should closely watch the near-term support zone between $80 and $77.32, since holding this level is crucial to prevent further selling pressure.

In case of a rebound, the immediate resistance is at $87.65, which if cleared could open the door to a rally towards higher targets at $97.56 and $106.95.

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XRP, SOL and ADA price outlook as BTC struggles ahead of key macro events

  • XRP, Solana, and Cardano prices hover near $1.30, $80, and $0.24, respectively.
  • Currently, BTC trades around $66,430 after retreating from highs of $68,000.
  • Analysts say the week is heavy on macroeconomic data releases, and that’s likely to impact volatility.

XRP, Solana, and Cardano prices hover at critical support levels amid a potentially volatile week for cryptocurrencies, with Bitcoin poised just above $66,000 as traders brace for a fresh wave of macroeconomic data.

While geopolitical risk from the Iran war continues to roil markets, investors weighing the next moves might also want to pay attention to key macroeconomic events this week.

QCP Group has noted, via a post on X, that these data releases will likely shape the next leg of the Bitcoin price.

On Monday, analysts at Greeks.live opined that, in addition to macroeconomic factors, volatility could also hinge on announcements from US President Donald Trump.

Bitcoin led altcoins briefly higher after Trump announced that the US was looking to end its military operation in Iran.

Key macro events to watch this week

This week’s macro calendar is packed, with analysts at QCP Capital highlighting several data releases as potential volatility triggers across traditional markets and cryptocurrencies.

For investors, the key focus is how incoming data shapes expectations for US growth, inflation, and the interest-rate path—factors that continue to drive risk assets, including Bitcoin.

On March 31, attention turns to US Consumer Confidence, JOLTS Job Openings, and the Chicago PMI.

QCP identifies JOLTS as a key volatility catalyst, as signs of labour market cooling or tightness directly influence Federal Reserve expectations and the dollar, with spillover effects on crypto flows.

Tokens such as XRP, Solana, and Cardano are likely to track Bitcoin’s direction.

On April 1, the S&P Global US Manufacturing PMI and ISM Manufacturing PMI will be released, with the ISM reading seen as particularly important.

A weaker print could strengthen expectations for rate cuts and support crypto, while stronger data may reinforce a “higher for longer” rate outlook and weigh on digital assets.

A similar dynamic applies to jobless claims data, another closely watched indicator.

A sharp rise could signal labour market weakness and potentially support Bitcoin as markets adjust expectations for monetary easing.

The week culminates on April 3 with the release of US Non-Farm Payrolls (NFP).

QCP flags this as a primary macro event that could revive inflation concerns and strengthen the dollar.

Historically, a stronger greenback has pressured Bitcoin, while softer payrolls tend to support the broader digital asset market through expectations of looser policy.

XRP, SOL, and ADA price outlook

From a technical perspective, Bitcoin enters this data-heavy period with a constructive but fragile setup on the daily chart.

Traders are balancing macroeconomic risks with geopolitical tensions, particularly around the Iran conflict and disruptions linked to the Strait of Hormuz.

The result is a market caught between competing drivers of volatility, with implications across risk assets.

Bitcoin’s sensitivity to incoming data could drive broader moves in altcoins.

XRP is holding near $1.30 support but may slip toward $1.20 if BTC weakens following non-farm payrolls data.

On the upside, softer inflation readings could support a move toward $1.50.

Solana (SOL), trading near $80, is testing key moving averages and could face downside risk toward $70.

A stronger bullish push, however, may open the path toward $100.

Meanwhile, Cardano (ADA) has declined to around $0.24, with potential for further downside toward $0.22.

A renewed influx of buyers could instead see the token attempt a move back toward the $0.30 resistance level.

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Bitcoin stalls near $66K: is a bigger drop coming this week?

  • Bitcoin price tests $65,000 support amid oversold conditions and weak momentum.
  • Rising US real yields and oil prices weigh on short-term buying pressure.
  • Traders should watch the $68,400 resistance and $65,100 support for the next moves.

Bitcoin (BTC) is showing signs of short-term fatigue as it navigates a tricky market environment.

After failing to break above resistance near $68,400, BTC has retreated toward critical support between $65,600 and $65,100.

The cryptocurrency is now hovering in a delicate range, where technical oversold signals clash with potent macroeconomic pressures.

Technical analysis

The seven-day RSI currently sits at 32.37, suggesting that Bitcoin is nearly oversold.

Bitcoin price chart

This level often indicates a potential bounce, but the market has yet to show sustained buying strength. Short-term momentum is fragile, with price action struggling to maintain levels above $66,000.

Even though buyers have defended the $65,600 band so far, a break below $65,100 could signal a deeper correction.

Resistance remains firmly in place at $68,400, and attempts to push past it have been met with immediate selling. Traders should closely watch the $68,000–$68,500 zone, as it represents the ceiling for any short-term recovery attempts.

In this range-bound setup, the market is consolidating rather than trending decisively.

The macro headwinds shaping Bitcoin price movements

Bitcoin’s short-term struggles are compounded by external pressures.

Rising real yields, especially on 10-year TIPS in the United States, have increased the appeal of government bonds over risk assets like BTC.

As a result, investors seeking yield are diverting capital toward these safer instruments, leaving Bitcoin with weaker demand.

At the same time, WTI crude oil prices have surged past $103 per barrel and Brent crude oil prices have hit $114, adding another layer of market uncertainty.

Energy-driven inflationary concerns make the broader financial environment more cautious, further dampening appetite for speculative assets.

Adding to the pressure, a $2.2 billion payout by the FTX Recovery Trust to FTX creditors is scheduled for March 31, 2026.

Recipients may choose to liquidate portions of their holdings, which could add temporary selling pressure and keep BTC range-bound.

Even large buyers, often referred to as whales, are active but appear to be accumulating cautiously below $70,000.

This cautious accumulation suggests that institutional players are positioning for the long term but are unwilling to push aggressively at current levels.

What traders should expect this week?

Short-term momentum is still weak, so any bounce is likely to be contained unless macro conditions improve.

Overall, Bitcoin is at a crossroads, balancing oversold technical conditions against persistent bear pressures from rates, oil prices, and potential selling catalysts.

Traders should monitor the $65,100 level closely, as a decisive hold here would support consolidation between $65,100 and $68,000.

A break below this band could open the door to a further decline toward $63,000 or lower.

On the upside, sustained moves above $68,400–$68,500 would be required to challenge resistance near $70,000.

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Bitmine hits 4.73M ETH with biggest 2026 buy amid outflows

  • Bitmine has increased its Ethereum (ETH) holdings to over 4.73 million.
  • The company is adding to its ETH treasury strategy despite market struggles.
  • Ethereum price holds near $2,000.

Bitmine Immersion Technologies, led by Tom Lee, has accelerated its Ethereum acquisitions, marking its largest purchase of 2026 so far.

According to a company update, Bitmine’s total Ethereum holdings have risen to more than 4.73 million ETH, while its combined crypto and cash reserves now exceed $10.7 billion.

The firm has also expanded its staking activity, even as Ethereum trades near the $2,000 level amid broader weakness in the crypto market.

The downturn has prompted notable capital outflows from ETH-focused investment products.

Largest weekly purchase lifts holdings

In a Monday update, Bitmine said it executed its biggest weekly Ethereum purchase of the year, acquiring 71,179 ETH.

The transaction lifted its total ETH treasury to 4.73 million tokens, representing about 3.92% of Ethereum’s total supply.

The latest purchase significantly exceeds the firm’s recent weekly average of 45,000–50,000 ETH, underscoring a more aggressive accumulation strategy.

This contrasts with broader market behavior, where many digital asset treasuries have either paused purchases or liquidated holdings amid declining prices.

Crypto outperforms despite macro headwinds

Ongoing macroeconomic and geopolitical pressures have weighed on risk assets.

Commenting on the trend, Bitmine chairman Thomas Lee said:

“As the Iran war enters its fifth week, ETH and crypto have outperformed the broader market, with ETH outperforming equities by 1,160 basis points. This stands in contrast to gold, which has underperformed by more than 750 basis points. Crypto is demonstrating its potential as a wartime store of value.”

Bitmine remains one of the few large corporate buyers maintaining a consistent accumulation strategy despite market headwinds.

In contrast, Michael Saylor’s Strategy—the world’s largest corporate holder of Bitcoin—recently paused its 13-week buying streak.

Ethereum holds above $2,000 despite outflows

Ethereum has remained resilient around the $2,000 level and is up nearly 10% over the past month, although upside momentum remains limited.

The asset has held near this range despite persistent exchange outflows and cautious institutional sentiment.

Data from CoinShares showed that ETH investment products recorded $222 million in net outflows last week.

Bitcoin products also saw outflows of more than $194 million, contributing to a broader $414 million withdrawal across crypto investment vehicles.

Long-term conviction persists

Despite these outflows, Bitmine’s continued accumulation highlights strong long-term conviction among select institutional players.

The Ethereum Foundation also signaled a similar stance, staking more than $46 million worth of ETH on Monday.

Looking ahead, Ethereum prices could benefit from underlying resilience and potentially move higher in the coming weeks or months.

However, a break below the $2,000 level remains a risk if negative sentiment intensifies.

 

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