Solana DEX Volumes Fall to September 2024 Lows – SOL Tests $80 Support Amid Fee Decline

Key Takeaways

SOL Price Correction Follows Rejection at $93

Solana’s native token SOL experienced an 11% correction after failing to break above the $93 level last Wednesday. Following the rejection, the token underperformed the broader cryptocurrency market over the past week and repeatedly tested support near $80.

Market data shows that traders are closely monitoring this price zone. Concerns about a potential move toward $75 have increased as network activity metrics weakened in parallel with the price decline. The correction comes at a time when overall crypto market capitalization has also fluctuated, adding to short term volatility in major assets.

For users active in crypto markets, including those using SOL for decentralized applications or as a transactional asset, price stability around key support levels often plays a role in liquidity decisions and platform usage.

DEX Volumes Drop to Multi-Month Lows

A central factor behind the recent pressure on SOL is declining activity on Solana-based decentralized exchanges. According to DefiLlama data cited in the report, Solana DEX volumes fell to $55.5 billion in March. This represents the lowest level recorded since September 2024.

Although Solana continues to lead in absolute DEX volume compared to Ethereum’s mainnet alone, activity has slowed significantly over the past two months. The drop in trading volumes has directly affected network fee generation, which depends heavily on decentralized trading activity.

Ethereum’s DEX volumes reached $41 billion in March, reflecting a 23% decline compared to two months earlier. However, when Ethereum layer-2 networks such as Base, Arbitrum, Polygon, and Optimism are aggregated, Ethereum’s overall DEX market share increased to 42% in March from 33% in January.

This shift indicates that trading activity within the Ethereum ecosystem is increasingly migrating to layer-2 solutions. For Solana, the gradual erosion of dominance in decentralized trading has coincided with weaker token price performance.

Network Fees Fall 42% Since January

The decline in decentralized exchange activity has translated into lower fee revenue for the Solana network. Monthly network fees dropped to $18.5 million in March, marking a 42% decrease from January’s $30 million.

Despite this decline, Solana generated 80% more network fees than Ethereum over the past 30 days. The difference is attributed to Ethereum’s incentive structure for layer-2 rollups, which use temporary data blobs to reduce transaction costs.

Total value locked on Solana stood at $6.3 billion, compared to Ethereum’s $54.1 billion. While the gap in locked capital remains substantial, Solana’s ability to generate higher network fees during the same period highlights structural differences in how each ecosystem captures value.

For market participants, fee generation is often viewed as an indicator of network usage and economic activity. Changes in this metric can influence how investors assess protocol sustainability and token demand.

Solana Leads in High-Revenue DApps

Even as DEX volumes declined, Solana recorded the highest number of decentralized applications generating at least $1 million in revenue over the past 30 days. Thirteen Solana-based DApps reached that threshold.

By comparison, Ethereum had 11 DApps generating $1 million or more in the same period. BNB Chain and Base each recorded four DApps above the $1 million mark.

The presence of high revenue applications is significant because protocol revenues tend to attract developer and investor attention. Applications such as Pump, Helium Network, and ORE Protocol contributed to Solana’s revenue figures.

This concentration of revenue-generating projects indicates continued economic activity within the ecosystem, even as trading volumes on decentralized exchanges have moderated. For users evaluating blockchain networks for development, trading, or payment use cases, the distribution of DApp revenue provides an additional metric beyond price performance alone.

Competitive Pressure From Ethereum Layer-2 Networks

The growth of Ethereum’s layer-2 ecosystem represents a competitive dynamic for Solana. As aggregated DEX market share within Ethereum and its scaling solutions rose to 42% in March, Solana’s relative dominance narrowed.

Layer-2 rollups aim to lower transaction costs and improve scalability by processing activity off the Ethereum mainnet while still relying on its security framework. The report attributes part of Ethereum’s changing fee structure to incentives related to these rollups.

For traders and liquidity providers, the availability of multiple scaling environments can influence where capital is deployed. The redistribution of DEX market share suggests that trading activity is becoming more fragmented across networks.

Our Assessment

Solana’s recent 11% price correction occurred alongside declining decentralized exchange volumes and a 42% drop in monthly network fees since January. DEX activity fell to its lowest level since September 2024, while Ethereum layer-2 networks increased their aggregated market share.

At the same time, Solana recorded 13 DApps generating more than $1 million in 30-day revenue, the highest count among compared networks. Despite lower trading volumes, the ecosystem continues to host revenue-producing applications and generated more network fees than Ethereum over the past 30 days.

The data shows a divergence between short term trading activity and application level revenue within the Solana ecosystem, while competitive pressure from Ethereum’s layer-2 networks continues to reshape decentralized exchange market share.

Bitcoin Struggles Near $68,000 as Broader Market Weakness Weighs on Crypto Prices

Key Takeaways

Macro Indicators Show Mixed Signals Across Equity and Currency Markets

Bitcoin and several major altcoins declined as US markets opened on Monday, reflecting trader concerns linked to oil prices, employment data and geopolitical developments involving the United States and the Israel-Iran conflict.

The S&P 500 Index reversed from its 20-day exponential moving average at 6,620, indicating that sellers remain active at higher levels. Analysts cited 6,147 as a level that could attract buying interest. A failure to hold that area could expose the index to 5,943. Conversely, a break above the 20-day EMA would signal easing downside pressure and could open a move toward the 50-day simple moving average at 6,803.

The US Dollar Index showed relative strength. It rebounded from its 20-day EMA at 99.40 and approached overhead resistance at 100.54. Sustained trading above 100.54 would place 102 and 103.54 in focus, while a rejection at resistance combined with a drop below the 20-day EMA could shift attention to the 50-day SMA at 98.25.

For crypto market participants, these cross-asset movements remain relevant. Equity weakness and a firming US dollar have historically coincided with more cautious positioning in risk-sensitive assets, including digital tokens.

Bitcoin Faces Resistance After Brief Move Above $68,000

Bitcoin closed below the support line of an ascending triangle pattern on Sunday but quickly moved back above that level. Buyers attempted to push the price through nearby moving averages, suggesting efforts to invalidate the earlier breakdown.

If Bitcoin sustains momentum above the moving averages, analysts point to a potential advance toward the $74,508 to $76,000 zone. However, failure to hold above $65,000 would increase the likelihood of a decline toward the $62,500 to $60,000 support area.

March could mark a sixth consecutive month of losses for Bitcoin if the asset closes lower, a sequence not seen since the 2018 bear market. According to analyst Willy Woo, several on-chain models indicate a potential bottom between $46,000 and $54,000.

Research from Ecoinometrics models the recovery timeline from Bitcoin’s October 2025 all-time high of $126,000. If the $60,000 low holds, a full recovery could take roughly 300 days from the peak, with about 175 days already elapsed. A deeper decline into the $40,000 to $45,000 range would likely extend recovery into the second quarter of 2027, as each additional 10 percent drawdown adds approximately 80 days to the modeled recovery period.

Ether and BNB Attempt Stabilization Below Key Moving Averages

Ether closed below its 50-day SMA at $2,040 but found support at $1,916. Buyers are attempting to reclaim the moving averages. A sustained move above them would increase the probability of a rise toward $2,400, with $2,600 as the next potential level if resistance is cleared.

If Ether falls below $1,916, analysts identify $1,750 as the next support zone.

BNB continues to trade below its moving averages. Sellers have not yet managed to push the token down to the $570 support level. A recovery above the moving averages would keep BNB within a $570 to $687 range, while a close above $687 would signal renewed upside momentum. A rejection at resistance would increase the risk of a drop back toward $570.

XRP, Solana, Dogecoin and Cardano Remain Range-Bound or Under Pressure

XRP remains below its moving averages, with both indicators sloping downward and the relative strength index in negative territory. Support at $1.27 is under observation. A break below that level would expose $1.11, while a recovery above the moving averages could allow a move toward $1.61.

Solana trades within a $76 to $95 range. A breakout above $95 would open the path toward $117. A close below $76 would shift focus to the February 6 low at $67.

Dogecoin has held above $0.09 but struggled to mount a sustained rebound. Continued selling near the moving averages raises the risk of a decline toward $0.08 if $0.09 fails. A move above the moving averages would allow $0.11 and $0.12 to come into view.

Cardano closed below $0.25, signaling continued seller control. If $0.25 turns into resistance, the February 6 low at $0.22 becomes the next reference level. A push above the moving averages would be required to shift the short-term trend structure.

Hyperliquid Tests Short-Term Support at 20-Day EMA

Hyperliquid trades near its 20-day EMA at $37.86. A drop below $36.77 would suggest weakening buyer interest and could lead to a test of the 50-day SMA at $33.73. On the upside, resistance levels stand at $41.59 and $44. A break above $44 would signal a potential continuation toward $50.

Our Assessment

The latest price action shows Bitcoin attempting to stabilize above $68,000 while facing resistance near $69,000 and the moving averages. Equity weakness in the S&P 500 and strength in the US Dollar Index provide a broader market backdrop that coincides with continued selling pressure across major altcoins. Several large-cap tokens remain below key technical levels, indicating that buyers have yet to regain consistent control. For crypto market participants, these levels define the short-term structure across both Bitcoin and leading alternative assets.

American Bitcoin Surpasses 7,000 BTC in Corporate Reserves – Treasury Expansion Continues After Nasdaq Listing

Key Takeaways

Bitcoin Treasury Exceeds 7,000 BTC

American Bitcoin Corp. has expanded its corporate Bitcoin holdings to more than 7,000 BTC, according to company reporting cited on March 30, 2026. The increase continues the firm’s treasury growth following its Nasdaq listing in September 2025.

The company stated that its total Bitcoin reserves have nearly tripled since launch. It also reported that “satoshis per share” have more than doubled over the same period, indicating that the amount of Bitcoin backing each share has increased as holdings expanded.

With the latest update, ABTC ranks 16th among publicly traded companies holding Bitcoin on their balance sheets, based on data from bitcointreasuries.net. This places the company among a group of firms that use Bitcoin as a treasury reserve asset rather than limiting exposure to operational needs.

Mining Expansion Drives Treasury Growth

ABTC attributes much of its treasury expansion to an aggressive build-out of its mining operations. During the current month, the company purchased more than 11,000 ASIC mining machines to increase its hashrate capacity.

Management outlined plans to scale the fleet to approximately 89,000 rigs, targeting around 28 EH/s in computing power. The strategy centers on self-mining Bitcoin at lower operational costs rather than relying primarily on open market purchases.

The company reported a mining margin of 53 percent, indicating that its mining operations remain profitable despite price volatility. At the end of last year, ABTC held 5,401 BTC. Since then, it has increased reserves above 6,000 BTC through a combination of mining output and acquisitions. Roughly one-third of its Bitcoin holdings came from mining activities, with the remainder acquired on the open market.

For users following the Bitcoin mining sector, these figures highlight the scale at which publicly traded firms continue to invest in infrastructure. Mining capacity, measured in rigs and exahashes per second, directly influences the amount of Bitcoin a company can generate internally.

Fourth Quarter Results Reflect Bitcoin Price Decline

The company’s recent financial results show the impact of Bitcoin market volatility on its balance sheet. In the fourth quarter, a 23 percent decline in Bitcoin’s price led to a $227 million non-cash mark-to-market loss. ABTC also reported a net loss of $59 million for the period.

Quarterly revenue reached $78.3 million, slightly below estimates but higher than the $64.2 million reported in the same quarter a year earlier. For the full year, revenue totaled $185.2 million.

Mark-to-market accounting requires companies holding digital assets to adjust the value of those holdings in line with market prices. When prices fall, firms record unrealized losses even if they do not sell the underlying assets. For investors and market participants, this accounting approach can significantly affect reported earnings during periods of price volatility.

Stock Performance and Liquidity Position

Since its Nasdaq debut in September 2025, ABTC shares have declined by more than 90 percent from peak levels. At the time of writing, the stock traded near $0.90 per share.

The company operates in a competitive environment that includes other publicly traded mining firms. According to the report, peers such as MARA and Riot are diversifying into artificial intelligence infrastructure. Hut 8, which supports American Bitcoin, has expanded credit facilities to $400 million and secured a $200 million revolving line from Two Prime, strengthening available liquidity.

These financing arrangements underline the capital-intensive nature of large-scale mining operations. Access to credit can influence a company’s ability to expand infrastructure, manage operational costs, and withstand price swings in Bitcoin.

Public Policy Commentary from Co-Founder

ABTC co-founder Eric Trump stated earlier this month on X that major U.S. banks, including JPMorgan Chase, Bank of America, and Wells Fargo, are lobbying in Washington to restrict higher-yield crypto and stablecoin products. He referenced legislative efforts such as the CLARITY Act as part of this process.

The statement reflects ongoing debates in the United States about the regulatory framework for digital assets and stablecoins. While the company itself is focused on mining and treasury accumulation, regulatory developments may affect broader market conditions in which Bitcoin-related businesses operate.

Our Assessment

American Bitcoin Corp. has expanded its Bitcoin treasury beyond 7,000 BTC and increased mining capacity through substantial hardware purchases. At the same time, recent financial results show the effects of Bitcoin price volatility on reported earnings, and the company’s share price has declined significantly since its Nasdaq listing. The combination of treasury growth, infrastructure expansion, and market-driven financial fluctuations defines the company’s current position within the publicly traded Bitcoin mining sector.

Aave Launches on OKX X Layer – DeFi Lending Protocol Expands to 21st Blockchain

Key Takeaways

Aave Goes Live on OKX’s X Layer

Aave, the largest decentralized lending protocol by total value locked, is now available on X Layer, an Ethereum layer-2 blockchain launched by crypto trading platform OKX. The integration enables users of OKX Wallet and X Layer to access Aave’s lending and borrowing services directly on the network.

With this move, X Layer becomes the 21st blockchain to support Aave. The protocol reports $23.5 billion in total value locked, reflecting the amount of crypto assets deposited into its smart contracts. Users can deposit assets to earn interest or borrow against collateral posted on the platform.

For X Layer, the integration represents a notable addition to its decentralized finance ecosystem. The network currently holds $25 million in total value locked, significantly smaller than Aave’s footprint across all supported chains.

What the Integration Means for X Layer Users

The addition of Aave allows users on X Layer to lend, borrow, and earn yield without bridging assets to another blockchain. In practice, this reduces the need for cross-chain transfers when accessing DeFi lending services.

According to an OKX spokesperson, the integration expands the functionality of the network’s DeFi ecosystem and is intended to serve the full range of customers active on X Layer. For users already operating within OKX’s wallet environment, the availability of Aave may streamline access to decentralized lending tools.

X Layer launched in May 2024 in what Cointelegraph described as a highly crowded Ethereum layer-2 market. Like many competing layer-2 solutions, X Layer focuses on scalability. The network advertises average transaction costs of $0.0005 and block times of approximately one second.

In addition to Aave, other decentralized finance protocols available on X Layer include Uniswap for decentralized token swaps, Chainlink for oracle services, and Stargate for cross-chain money transfers. The addition of a major lending protocol complements these existing services by adding borrowing and yield generation to the network’s offering.

Aave’s Position in the DeFi Lending Market

The launch on X Layer follows a milestone for Aave. In late February, the protocol surpassed $1 trillion in cumulative lending volume, marking what Cointelegraph described as an industry first. Cumulative lending volume refers to the total value of loans processed through the platform since its inception.

Aave currently holds $23.5 billion in total value locked. The platform reports over $40.4 billion in net deposits, compared to $10 billion for its closest competitor, Morpho. Based on the figures cited, Aave’s total value locked is more than three times that of Morpho in the decentralized lending market.

Revenue data over the past 30 days also indicates a gap between the two platforms. Aave has taken in more than $6.2 million in revenue during that period, which is more than five times the amount reported for Morpho.

Aave is integrated across more than 20 blockchains, including Ethereum, Arbitrum, and Base. The addition of X Layer further extends its cross-chain presence and increases the number of environments where users can access its lending and borrowing functionality.

Context for Crypto and iGaming Users

For crypto users who interact with betting platforms, sportsbooks, or online casinos that support digital assets, developments in decentralized finance can affect liquidity conditions and yield opportunities. Lending protocols such as Aave allow users to earn interest on idle crypto holdings or access liquidity without selling their assets.

Layer-2 networks aim to offer lower transaction fees and faster processing times compared to base-layer blockchains. X Layer advertises transaction costs of $0.0005 on average and one-second block times. For users moving funds between wallets, exchanges, or DeFi applications, these parameters can influence cost calculations and transaction efficiency.

Because Aave is now accessible directly on X Layer, users operating within the OKX ecosystem can manage lending positions without transferring assets to another supported chain. This may simplify portfolio management for those already active on the network.

Our Assessment

The launch of Aave on OKX’s X Layer adds one of the largest decentralized lending protocols to a relatively small layer-2 network with $25 million in total value locked. For Aave, the move expands its presence to a 21st blockchain following a milestone of $1 trillion in cumulative lending volume and $23.5 billion in total value locked. For X Layer, the integration introduces established lending and borrowing infrastructure to its existing DeFi stack, which already includes decentralized exchange, oracle, and cross-chain transfer services. The development reflects continued cross-chain expansion within the decentralized finance sector based on the figures provided.

Walmart-Backed OnePay Expands Crypto Listings – Fintech App Targets New-to-Crypto Users With Broader Token Selection

Key Takeaways

OnePay Broadens Its Crypto Offering Beyond Bitcoin and Ethereum

OnePay, a fintech company majority-owned by Walmart, has expanded its cryptocurrency offering by listing more than a dozen additional digital assets. The move comes just months after the company launched its crypto platform in January with support for Bitcoin and Ethereum.

According to statements from Ron Rojany, OnePay’s general manager for Core App and Crypto, the latest additions include SUI, Polygon and Arbitrum. These listings follow another recent batch of 10 tokens, among them Solana, Cardano, Bitcoin Cash and PAX Gold.

The expansion significantly increases the number of digital assets available within the OnePay app. While the company has not disclosed specific user numbers or trading volumes, it describes engagement as strong, particularly among customers who are new to cryptocurrency and seeking an integrated entry point.

Selection Criteria Focus on Demand, Liquidity and Regulatory Clarity

OnePay states that it applies defined criteria when deciding which tokens to list. According to Rojany, the company prioritizes assets that meet what he describes as a high bar in four areas: customer demand, liquidity, regulatory clarity and long-term utility.

This approach suggests that the company aims to balance user interest with operational and compliance considerations. Rather than adding newly launched or trending assets, OnePay says it is curating a set of tokens that align with how its customers use and manage their money.

The emphasis on regulatory clarity is notable in the context of US digital asset oversight. While OnePay did not provide details on its compliance framework, its stated focus indicates that legal considerations play a role in listing decisions.

Superapp Strategy Integrates Banking, Payments and Crypto

OnePay positions itself as a US-based superapp, modeled in concept on China’s WeChat. The company aims to combine multiple financial services within a single mobile platform.

Beyond crypto trading, the app offers traditional financial products, including high-yield savings accounts, debit and credit cards, loans and wireless plans. It also provides a digital wallet that customers can use for payments at Walmart stores and through Walmart’s online platform.

Walmart’s US operations reported net sales of 462.4 billion dollars in fiscal 2025, according to the company’s most recent annual report. The retail scale of Walmart’s operations provides distribution potential for financial services integrated into the broader shopping ecosystem.

By adding crypto functionality to an existing financial app, OnePay is not launching a standalone exchange. Instead, it embeds digital asset access within a broader banking and payments environment.

Growing Interest in Multi-Service Financial Platforms

OnePay is not the only company pursuing a multi-service financial model that includes digital assets. In September, Coinbase CEO Brian Armstrong outlined plans to develop a crypto-focused superapp offering services such as credit cards, payments and Bitcoin rewards.

Similarly, Japan’s Startale Group announced earlier this month that it would use funds from a 50 million dollar Series A round to build a superapp integrating payments, asset management and onchain services into one platform.

Regulatory developments in the United States may also influence this trend. US Securities and Exchange Commission Chairman Paul Atkins expressed support in September for platforms operating under a unified regulatory framework that could allow trading, lending and staking of digital assets within a single structure. In July, he directed Commission staff to develop further guidance and proposals to advance what he described as a superapp vision.

While OnePay has not publicly detailed how its crypto services align with potential future regulatory frameworks, the broader policy discussion indicates that integrated digital asset platforms are under active consideration by regulators.

Relevance for Users Evaluating Crypto-Enabled Financial Apps

For users comparing crypto-enabled financial services, OnePay’s expansion increases the range of assets accessible within a single retail-linked application. The inclusion of networks such as Polygon, Arbitrum and Solana introduces exposure to multiple blockchain ecosystems beyond Bitcoin and Ethereum.

The addition of assets like PAX Gold also extends the offering to tokenized products linked to physical commodities. At the same time, the company emphasizes that it is curating its listings rather than aiming for maximum token count.

Because OnePay integrates crypto into a broader payments and banking environment, users access digital assets alongside traditional financial tools. This structure differs from platforms focused exclusively on trading and may appeal to individuals seeking consolidated account management.

Our Assessment

OnePay has expanded its crypto platform from an initial Bitcoin and Ethereum offering to include more than a dozen additional tokens, citing demand, liquidity, regulatory clarity and long-term utility as selection criteria. The move forms part of a broader strategy to position the app as a US superapp combining banking, payments and digital assets. Within a competitive environment where other firms are also developing integrated financial platforms, OnePay’s expansion increases the scope of crypto assets available to its customer base while maintaining a stated focus on curated listings.

Bitcoin Drops Below $66,000 Support – Major Altcoins Test Key Levels as ETF Outflows Rise

Key Takeaways

Bitcoin Breaks Below $66,000 as Selling Pressure Intensifies

Bitcoin traded under renewed pressure on March 27, falling below the $66,000 support level. The move increases the likelihood of a further decline toward the $62,500 to $60,000 range, which has acted as a broader support zone in recent weeks.

Buyers were unable to sustain momentum above $72,000 earlier in the week. After failing to hold that level, the price slipped below the support line of an ascending triangle pattern. A confirmed close beneath that line would invalidate the bullish structure and could accelerate downside movement.

At the same time, geopolitical uncertainty related to the United States and the Israel-Iran conflict has been cited as a factor limiting upside attempts. In parallel, US spot Bitcoin exchange-traded funds saw $171 million in outflows on Thursday. According to Farside Investors data referenced in the source material, this marked the largest daily redemption since $348 million exited on March 3.

Despite the short-term weakness, buyers have defended the $60,000 level since Feb. 6. A break above $72,000 would reopen the path toward $74,508. If that resistance is cleared, the next level highlighted on the chart is $84,000.

On-Chain Data Shows Profit Contraction While Large Holders Accumulate

On-chain metrics point to a significant slowdown in realized profits. Glassnode reported that Bitcoin’s entity-adjusted realized profit has contracted from $3 billion per day in July 2025 to $0.1 billion currently. According to the firm, such compression historically aligns with later stages of bear market conditions.

At the same time, Santiment data shows that wallets holding between 10 and 10,000 BTC increased their combined holdings by 0.45% over the past month. This accumulation by large holders occurred while prices faced selling pressure.

For market participants, the combination of ETF outflows, weakening price structures, and continued whale accumulation presents mixed signals. Short-term flows point to distribution, while longer-term holders appear to be increasing exposure.

Ether Falls Below $2,111 Breakout Level

Ether dropped back below its recent breakout level of $2,111 and continued lower, slipping under the 50-day simple moving average at $2,044. The next support level on the chart stands at $1,900.

If selling pressure persists, the $1,750 level represents a more substantial support area. On the upside, a decisive move above $2,200 would negate the immediate bearish structure and strengthen the case for a move beyond $2,400.

For users who rely on ETH for transactions across decentralized applications or gaming platforms, these levels define the current trading range and potential volatility zones.

BNB, XRP and SOL Trade Within Defined Ranges

BNB has moved between $570 and $687 for several weeks. Minor support lies at $607, with stronger demand near $570. A breakdown below $570 could expose the $500 level, while a close above $687 would shift focus toward $790.

XRP reversed lower from its moving averages and may test support at $1.32 and $1.27. A break below $1.27 would open the way toward the support line of its broader structure. Conversely, a close above the moving averages would bring $1.61 back into focus as resistance.

Solana failed to hold above the $95 resistance and dropped below its 50-day simple moving average at $86. The asset continues to trade within a $76 to $95 range. A break above $95 could lead to $117, while a close below $76 may expose $67.

These defined ranges are relevant for traders monitoring short-term price stability and liquidity conditions.

Dogecoin, Cardano and Bitcoin Cash Test Critical Support

Dogecoin briefly moved above its moving averages but failed to sustain gains and fell below the $0.09 support. If the price remains under this level, $0.06 becomes the next downside reference. A recovery above the moving averages would bring $0.10 and $0.12 into view.

Cardano turned lower after failing to hold above its 50-day simple moving average at $0.27. Strong support is identified at $0.25. A break below that level could extend losses toward $0.22. A close back above the moving averages would shift the structure toward recovery.

Bitcoin Cash declined below its 20-day exponential moving average at $468 and may test $443 support. A breakdown below $443 would complete a bearish head-and-shoulders pattern, with $375 as the next level on the chart. If $443 holds, the asset could consolidate between that level and the 50-day simple moving average at $491.

Chainlink and Hyperliquid Face Pattern Break Risks

Chainlink reversed from $9.50 and dropped below the support line of an ascending channel. A confirmed close outside the channel could lead to $8.05 and potentially $7.15. If buyers regain control and push the price above $9.50, the upper boundary of the channel becomes relevant again.

Hyperliquid declined from $41.59 and is approaching a support zone between the 20-day exponential moving average at $37.64 and the breakout level at $36.77. Holding above $36.77 would keep the bullish structure intact, with $43.77 as the next resistance and $50 as a higher target. A break below $36.77 would expose the 50-day simple moving average at $33.34.

Our Assessment

Bitcoin’s move below $66,000, combined with notable ETF outflows, marks a shift in short-term momentum across the crypto market. Several major altcoins have broken below immediate support levels or are testing the lower boundaries of established ranges. At the same time, on-chain data shows reduced realized profits and continued accumulation by large Bitcoin holders. The market structure across leading assets currently centers on clearly defined support and resistance levels that will determine whether consolidation continues or downside pressure intensifies.

Spot Bitcoin ETFs Record $296 Million in Weekly Outflows – Four-Week Inflow Streak Comes to an End Amid Cautious Market Positioning

Key Takeaways

Bitcoin ETFs Reverse Course After Sustained Inflows

Spot Bitcoin exchange-traded funds recorded $296.18 million in net outflows for the week ending Friday, according to data from SoSoValue. The withdrawal breaks a four-week sequence of positive inflows that had brought more than $2.2 billion into the products.

During that earlier period, weekly inflows reached $787.31 million, $568.45 million and $767.33 million in early March. Momentum had already slowed in the week prior to the reversal, when net inflows declined to $95.18 million.

The latest shift was driven by consecutive daily outflows on Thursday and Friday, which together exceeded $396 million. Friday alone accounted for $225.48 million in redemptions. This marked the largest single day of withdrawals since March 3, when Bitcoin ETFs recorded $348 million in outflows.

For users monitoring capital flows as an indicator of institutional positioning, the move signals a pause in the recent allocation trend that had supported ETF asset growth throughout most of March.

Assets and Trading Volume Decline Alongside Outflows

Cumulative net inflows into spot Bitcoin ETFs now stand at $55.93 billion. However, total net assets have fallen to $84.77 billion, down from more than $90 billion a week earlier.

Trading activity also moderated. Weekly trading volume dropped to $14.26 billion, compared with $25.87 billion earlier in March. The reduction in turnover suggests lower short-term participation relative to earlier periods of stronger inflow momentum.

For market participants who use ETF volumes as a gauge of demand and liquidity conditions, the decline reflects a cooling phase after several weeks of elevated activity.

Macro Backdrop Described as Stable on the Surface

In a statement shared with Cointelegraph, a Bitunix analyst characterized the current macroeconomic environment as defined by “surface stability, internal imbalance.” According to the analyst, geopolitical risks remain unresolved even as policymakers maintain outward calm.

The analyst pointed to developments such as a US – EU trade agreement and delayed tensions in the Middle East as factors that have temporarily eased market stress. However, these measures were described as masking underlying risks that have not fully dissipated.

Within this environment, Bitcoin is said to be behaving less like a breakout asset and more like a reflection of broader liquidity conditions. The price has remained range bound between $65,000 and $72,000. The analyst noted signs of demand absorption but limited continuation of upward price attempts.

The assessment concluded that capital is not exiting the market entirely, but is also not taking clear directional risk. As a result, price action may remain volatile within established ranges until macro conditions align to support a clearer trend.

For readers evaluating crypto exposure through ETFs, these comments frame the recent outflows within a broader context of cautious positioning rather than abrupt capital flight.

Ether ETFs Extend Losses for Second Week

Spot Ether ETFs also experienced sustained withdrawals. For the week, net outflows reached $206.58 million, marking a second consecutive week of losses.

This development reverses a modest inflow streak observed earlier in March. Daily data indicates that funds recorded outflows on every trading day since March 18.

The largest single day of withdrawals occurred on Thursday, when $92.54 million exited the products. Friday followed with an additional $48.54 million in outflows.

The consistency of daily redemptions highlights a broader reduction in exposure to Ether-based exchange-traded products during the period under review.

Implications for Crypto Market Participants

ETF flow data provides insight into how capital moves within regulated crypto investment vehicles. For users of crypto platforms, sportsbooks and iGaming services who hold digital assets or track market liquidity, shifts in ETF flows can reflect changes in institutional sentiment and short-term demand conditions.

The combination of declining net assets, reduced trading volumes and weekly outflows in both Bitcoin and Ether ETFs indicates a period of repositioning. While cumulative inflows into Bitcoin ETFs remain substantial at $55.93 billion, the latest weekly data shows a pause in the recent accumulation trend.

Ether ETFs, meanwhile, have entered a second consecutive week of withdrawals, with daily outflows persisting across the entire trading week.

Our Assessment

Spot Bitcoin ETFs ended a four-week inflow streak with $296.18 million in weekly net outflows, accompanied by a decline in total net assets and trading volume. Spot Ether ETFs recorded $206.58 million in weekly outflows, extending losses for a second week. The data reflects a shift from sustained inflows earlier in March to a period of reduced risk exposure across major crypto exchange-traded products.

Morgan Stanley Files 0.14% Bitcoin ETF Fee – New Pricing Sets Lowest Cost Among U.S. Spot Products

Key Takeaways

Morgan Stanley Discloses 0.14% Annual Fee for Bitcoin Trust

Morgan Stanley is preparing to enter the U.S. spot bitcoin ETF market with a fee structure that positions its product as the lowest-cost option at launch. According to updated trust documents referenced by Bloomberg analyst Eric Balchunas, the upcoming Morgan Stanley Bitcoin Trust (MSBT) will charge an annual management fee of 0.14%.

This rate is 11 basis points below BlackRock’s iShares Bitcoin Trust (IBIT), which currently charges around 0.25%. Based on the disclosed figures, MSBT would become the cheapest spot bitcoin ETF available in the United States once it begins trading.

Fee levels are a key differentiator in the ETF market. Lower expense ratios directly reduce the cost of holding an investment product over time. In a segment where multiple funds offer similar exposure to the same underlying asset, pricing can influence asset flows.

Distribution Power Within Morgan Stanley’s Wealth Network

Morgan Stanley’s entry carries particular relevance because of its distribution capabilities. The bank oversees approximately $8 trillion in wealth management assets and works with thousands of financial advisors.

According to the information provided, fee sensitivity has been one factor limiting broader adoption of spot bitcoin ETFs within advisory channels. Advisors who allocate client capital often consider cost structures when selecting products. By offering a lower-cost in-house vehicle, Morgan Stanley could reduce internal barriers tied to recommending higher-fee third-party funds.

Phong Le, CEO of Strategy, described the ETF as a potential large-scale catalyst, estimating that even a 2% allocation across Morgan Stanley’s platform could translate into roughly $160 billion in demand. While this figure represents an estimate rather than a confirmed allocation, it illustrates how distribution scale can influence potential capital flows in the ETF market.

Regulatory Status and Listing Progress

The Morgan Stanley Bitcoin Trust has already received a listing notice from the New York Stock Exchange. A listing notice is generally viewed as a procedural step indicating that trading could begin once final regulatory clearance is granted.

If approved, MSBT would become the first spot bitcoin ETF issued directly by a major U.S. bank rather than by a traditional asset management firm. Existing spot bitcoin ETFs in the United States have been launched by asset managers since the category debuted in 2024.

The timing of the launch depends on the completion of remaining regulatory steps. No exact trading date has been confirmed in the provided information.

Fund Structure and Service Providers

Structurally, MSBT will follow the same model used by other U.S.-listed spot bitcoin ETFs. The trust will hold bitcoin directly rather than using derivatives or synthetic exposure.

Coinbase will serve as custodian and prime broker. In this role, Coinbase is responsible for safeguarding the bitcoin held by the trust and facilitating related transactions. BNY Mellon will provide fund administration, transfer agency services, and cash custody.

This structure mirrors the operational framework already established in the U.S. spot bitcoin ETF market, where third-party custodians and administrators handle asset security and fund operations.

Market Context: Spot Bitcoin ETFs Since 2024

Since their launch in 2024, U.S.-listed spot bitcoin ETFs have attracted more than $50 billion in inflows. These inflows have been driven largely by retail and self-directed investors, according to the information provided.

Adoption within wealth management platforms has been comparatively slower. Internal policies, cost considerations, and portfolio construction guidelines have influenced how quickly advisors integrate spot bitcoin ETFs into client portfolios.

At the time referenced in the source material, bitcoin was trading near $66,000. Market price levels can affect investor demand for exchange-traded products that provide direct exposure to the asset.

For international users evaluating crypto-related financial products, fee competition among U.S. spot bitcoin ETFs may signal further differentiation in a market where underlying exposure is largely standardized. Lower management fees reduce holding costs, which can be relevant when comparing long-term access routes to bitcoin through regulated investment vehicles.

Our Assessment

Morgan Stanley’s planned 0.14% fee for the Morgan Stanley Bitcoin Trust sets a new low-cost benchmark in the U.S. spot bitcoin ETF market based on the figures disclosed. The combination of a reduced expense ratio and access to Morgan Stanley’s $8 trillion wealth management network distinguishes the product from existing offerings. The fund has received a New York Stock Exchange listing notice and is awaiting final regulatory clearance, with Coinbase and BNY Mellon designated as key service providers. Since U.S. spot bitcoin ETFs have already attracted more than $50 billion in inflows since 2024, the entry of a major U.S. bank with a lower-cost structure represents a measurable development within this segment of the crypto investment market.