Market Signal Briefing

Over the past seven days, the stablecoin economy padded its coffers with another $2.983 billion, gliding past the $315 billion threshold this week. Among the ten largest fiat-pegged tokens by market capitalization, Circle's Treasury-fund stablecoin USYC posted the biggest weekly gain, climbing 13.9% over the same stretch.

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What happened: Tether froze 12.3 million USDT on Tronas reported by Ecoinimist, on June 15, 2025, Tether froze 12,369,162 USDT, about 12.3 million USDT, on a single Tron address at 9:15 UTC. The report added that no public statement identified the requester or the wallet owner.

according to XT Research, the tether usdt freeze on Tron was executed at the token-contract level, targeting a specific address rather than the network itself. This is an issuer-controlled measure distinct from any protocol halt.

Why it was frozen: AML and OFAC compliance contextAt a policy level, such actions typically align with anti–money laundering and U.S. sanctions screening. As reported by TechRadar Pro, Tether has framed recent freezes as part of broader cooperation with law enforcement and regulatory compliance.

Debate continues over transparency and due process in cross-border freezes. Observers note that centralized control enables rapid enforcement, while documentation and notice standards can vary across jurisdictions.

Based on data from Tronscan, a contract-level freeze renders tagged USDT non-transferable until reversed by the issuer. Users with exposure to the affected address face settlement and operational risks until status is clarified.

On-chain verification is possible by reviewing the USDT token contract’s recent freeze or blacklist events and correlating the impacted address’s activity history. Event logs and transaction traces provide an auditable trail.

T3 FCU, TRM Labs, TRON: enforcement and user safeguardsAs reported by World Stock market, Tether, TRM Labs, and TRON launched the T3 Financial Crime Unit (T3 FCU) in August 2024 to detect, investigate, and interdict illicit stablecoin flows. The collaboration emphasizes proactive monitoring and address-level enforcement.

The initiative’s deterrence aim has been publicly emphasized. “Radical measures will force attackers to think twice before using blockchains, such as TRON, for illegal operations,” said Chris Janczewski, TRM Labs.

How address-level freezes work and where to check activityAs reported by Forklog, Tether retains administrative control over the USDT token contract, which enables blacklisting specific addresses across supported networks. When applied, transfers from the flagged address are blocked at the contract level.

Users can review contract events and the relevant address history on the Tron block explorer. Event logs labeled freeze/blacklist provide the most direct confirmation of enforcement actions.

Practical steps to reduce exposure to freeze riskUse on-chain explorers to review counterparties before transacting and monitor ongoing address risk. Keep high-risk flows segregated from operational wallets. Maintain clear records to evidence source of funds if inquiries arise.

FAQ about Tether USDT freeze on TronWhich wallet was affected and how can I verify the freeze on-chain (e.g., Tronscan)?Find the address in the USDT contract’s recent freeze/blacklist events on Tron’s explorer. Use transaction and event logs to confirm the action.

As reported by BTCC, Riverstone’s lawsuit contests Tether’s freeze authority and due process. Contract-level admin rights enable freezes; appeals depend on issuer and legal orders.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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The math behind Strategy’s path to 1 million bitcoin by the end of 2026The largest publicly traded corporate holder of bitcoin would need to buy roughly 6,158 BTC per week, about $523 million, to reach the milestone by Dec. 31. Mar 14, 2026, 2:00 p.m.

What to know: Despite the bear market in bitcoin and crash in its stock price, Strategy (MSTR) has continued to add to its holdings, often at a furious pace.Led by Executive Chairman Michael Saylor, the company held 738,731 BTC as of last Monday .It would need to acquire an additional 261,269 BTC, about $22.2 billion worth at an average price of $85,000, to reach 1 million coins this year.It's not out of the realm of possibility that Strategy (MSTR) could be the owner of 1 million bitcoin — or nearly 5% of the 21 million bitcoin that will ever be created — by the end of 2022.

The company currently holds 738,731 BTC, meaning it would need to acquire another 261,269 BTC to reach the milestone. With roughly 297 days, about 42 weeks, remaining in 2026, that implies an average purchase pace of around 6,158 BTC per week.

Assuming an average bitcoin price of $85,000, Strategy would need to deploy roughly $523 million per week, or about $22.2 billion in total, to reach the 1 million BTC mark by year's end.

Led by Executive Chairman Michael Saylor, the company's recent purchases suggest that pace may be achievable. Just last week, Strategy added 17,994 bitcoin. This week's acquisitions (likely to be disclosed on Monday) are likely to also be deep into the thousands. The company's STRC preferred stock issuance alone from Monday to Thursday suggested as much as 11,000 BTC purchases. And this doesn't account for common stock issuance, which may have facilitated thousands more in bitcoin buys.

Longer-term, since launching its bitcoin treasury strategy in August 2020, Strategy has purchased an average of about 10,700 BTC per month, equivalent to roughly 128,000 BTC per year.

So far in 2026, the company has already acquired about 64,948 BTC, putting it well ahead of its historical annual average pace of accumulation.

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Bitcoin holds $71,000 despite Trump warning of strikes on Iran's oil-rich Kharg Island

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The largest cryptocurrency is up 4.2% on the week despite Friday's reversal, with attention now turning to the Fed meeting on March 17-18 and whether oil above $100 forces a shift in rate expectations.

What to know:

Bitcoin has held above its prewar level and trades around $71,000, showing resilience despite intensified conflict in the Middle East and U.S. strikes on Iran’s Kharg Island.Crypto markets have broadly risen over the past week, with major tokens like ether, dogecoin, solana and BNB all posting gains even as bitcoin repeatedly fails to break through the $73,000 to $74,000 resistance range.Traders are increasingly treating war-related headlines as temporary shocks, but rising oil prices, record energy supply disruptions and next week’s Federal Reserve meeting pose renewed risks to risk assets, including cryptocurrencies.Top Stories

Geopolitical tensions surged after late February strikes escalated conflict around Iran and the Strait of Hormuz.

This chokepoint carries over 20% of global oil flows, amplifying supply fears. Brent crude reacted sharply, rising from $70 per barrel pre-war to intraday highs near $120. Prices later stabilized around $103.29, still marking an 11% weekly gain amid disruption concerns.

Source: CME Meanwhile, WTI Futures closed at $99.31 on CME, advancing 3.74% daily, yet traditional trading hours limited continuous price discovery. Markets paused over weekends, leaving gaps during sudden geopolitical developments.

During the 8–9 March escalation, NYMEX WTI closed on the 13th of March, at $89.04 before halting. However, Hyperliquid’s [HYPE]  24/7 WTI perpetuals continued trading and surged toward $115.

Volumes also expanded sharply, reaching $1.2 billion daily, highlighting rising demand for uninterrupted hedging as decentralized markets adapt faster to global shocks.

Perps challenge traditional benchmarks In 2026, decentralized perpetual markets began reshaping how macro risk signals emerge during geopolitical shocks. Platforms like Hyperliquid now operate as 24/7 price discovery venues when legacy exchanges close. During the February U.S.–Iran escalation, oil and gold perpetuals reacted immediately while COMEX and NYMEX remained shut.

This constant activity allows on-chain markets to reflect risk shifts earlier than traditional futures. Yet a liquidity gap still separates decentralized venues from institutional benchmarks. Hyperliquid’s silver market holds about $230,000 in depth, while COMEX maintains nearly $13 million.

Liquidity gaps still limit institutional adoption Structural friction continues shaping the evolution of on-chain perpetual markets despite rapid growth in trading activity. According to a CoinGecko report, Hyperliquid processed $1.59 trillion in six months, placing it among the top ten derivatives venues globally.

A large share of activity now comes from automation. Roughly 60% of volume flows through programmatic strategies, gradually tightening spreads across major assets. For instance, Bitcoin [BTC] spreads narrowed to nearly $1.00, occasionally outperforming centralized exchanges.

Still, liquidity depth remains uneven across markets. Commodity contracts such as CL-USDC oil perps face higher slippage, reflecting thinner order books than legacy futures venues. Even so, decentralized perpetuals increasingly operate as a 24/7 macro risk pulse alongside established financial benchmarks.

Final Summary Hyperliquid [HYPE] 24/7 oil perpetuals reaching $115 during the February-March escalation showed how around-the-clock trading fills price discovery gaps when legacy markets pause. Hyperliquid continuous derivatives activity highlights growing demand for always-on hedging, as geopolitical shocks increasingly unfold outside traditional trading hours.

In brief The Bitcoin network mined its 20 millionth coin this week, leaving just 1 million remaining—a supply that could take 115 years to fully unlock. Analysts expect many publicly traded Bitcoin miners to exit the business entirely by 2027 and 2028, liquidating Bitcoin holdings to fund pivots into AI and high-performance computing. Despite dwindling block rewards, one analyst argues the impact on Bitcoin's price may be limited—miners now hold just 0.5% of circulating supply, compared to Strategy's holdings of seven times that amount. The Bitcoin network saw its 20 millionth BTC mined this week, leaving just 1 million coins left to be paid as rewards to miners.

The milestone has crypto industry observers taking stock of the rapidly changing Bitcoin mining industry, and weighing the economics of a shifting landscape against expectations of Bitcoin’s performance as an investment.

Mining companies help secure the Bitcoin network and verify transactions, expending large amounts of energy in a race to solve cryptographic puzzles in exchange for transaction fees and newly created Bitcoin as rewards. It’s taken miners 16 years to mine the 20 millionth coin from Bitcoin’s inception, but it could take roughly 115 years to unlock the remaining supply, according to Wolfie Zhao, the head of research at TheEnergyMag.

That doesn’t necessarily mean the Bitcoin mining industry will look the way it does for the next century. John Todaro, a managing director and senior research analyst at Needham & Company, expects many publicly traded miners to exit Bitcoin mining in 2027 and 2028.

“​​We believe a large portion of the public Bitcoin miners will sell down nearly all of their Bitcoin holdings before year-end 2026 as they embark on [capital expenditure] spend related to AI workloads,” he wrote in a recent note shared with Decrypt. In other words, Bitcoin mining companies are pivoting to AI.

All the publicly traded Bitcoin miners the firm covers have allocated a portion of their compute power to high-performance computing, or HPC, and AI. It’s a shift that’s been going on for years.

And it’s easy to see why, he added.

“Stubbornly low hash price combined with the upcoming 2028 halving presents a concerning environment for Bitcoin mining operations,” he told Decrypt. “Many operators are at or near breakeven costs today, while NOI margins in HPC are north of 80%.”

NOI refers to net operating income, which measures revenue minus operating expenses, excluding financing costs and taxes. So it stands to reason that mining firms are adjusting their revenue split to favor better margins.

Ross Gan, the chief communications officer at Bitdeer, told Decrypt the firm has Bitcoin’s technological infrastructure in its DNA.

Bitdeer, the Singapore-based miner led by Bitmain co-founder Jihan Wu, illustrates the fork in the road facing the industry. Wu helped industrialize Bitcoin mining in the first place—Bitmain, which he co-founded in 2013, once controlled roughly three-quarters of the global market for Bitcoin mining chips. Now Bitdeer is converting several of its facilities into AI data centers while simultaneously developing its own next-generation mining hardware.

“The miners that endure will be the ones that control more of the stack themselves. We demonstrate how that matters by designing and deploying our own high-efficiency ASICs and securing long-term energy capacity worldwide,” Gan said. “Vertical integration has proven to be one of the clearest markers of long-term survivability.”

He added that up until recently, Bitcoin has been treated as a key monetization engine that was complemented by AI infrastructure to keep long-term revenues stable.

“That duality may no longer be a nice-to-have in the future,” Gan said.

HIVE Digital Technologies, formerly HIVE Blockchain, was founded in 2017 and went public later that year on the Toronto Stock Exchange. The company began investing in high performance computing, or HPC, infrastructure much earlier than many of its competitors. So early, in fact, that it was still generating revenue from Ethereum mining when Executive Chairman Frank Holmes mentioned it on an earnings call.

“The Ethereum mining margins that we experienced during the quarter enabled us to continue the upgrade of our data center assets in Sweden and Iceland and also diversify our business by starting to invest in HPC assets,” he said in November 2021.

It wasn’t until a year later that Ethereum developers executed the merge, changing the network from a proof-of-work to proof-of-stake consensus mechanism and rendering Ethereum mining obsolete.

The Canadian company has built its business around finding creative ways to source power from hydro-electric and otherwise stranded energy, Holmes told Decrypt.

“Bitcoin miners have led the world in sourcing stranded and surplus energy and in building Tier I power infrastructure at scale,” he said. “There is enormous energy abundance in the world, especially in hydro-rich regions like South America and Canada, but the winners will be operators that can secure it at low cost, structure around it intelligently, and turn that energy into durable computing infrastructure.”

Even as analysts, like Todaro, predict that some Bitcoin mining firms will begin winding down by the end of 2027, Holmes sees the squeeze ahead of the next halving event—forecast for mid-2028—as a challenge to get even more efficient.

“Block rewards will decrease, but that does not mean the industry will disappear. It means the bar rises,” he added. “The miners that survive will be the ones with the best power, the best sites, and the most flexibility.”

But what happens to the price of Bitcoin when block rewards get all the way to zero? Investors have known that Bitcoin has a finite supply since its inception, so theoretically it’s priced in.

The most apt comparison comes from the Bitcoin whitepaper itself: “The steady addition of a [constant amount] of new coins is analogous to gold miners expending resources to add gold to circulation,” pseudonymous BTC creator Satoshi Nakamoto wrote in 2008. The comparison has been adopted widely by Bitcoin fans, including BlackRock CEO Larry Fink, Strategy founder Michael Saylor, and even Federal Reserve Chairman Jerome Powell.

The global gold supply hasn’t been exhausted yet, so investors can’t skip ahead a few chapters for a preview of what BTC might do in 115 years. But Todaro pointed out that the very gradual reduction in block rewards should dampen effects on Bitcoin’s price.

He expects the majority of selling pressure to come from newly produced BTC, not long-time HODLers. And even if Bitcoin miners liquidate their holdings as they exit the business, they’re not the whales they used to be.

“Bitcoin miners do not hold as much Bitcoin on their balance sheets on a relative basis as they historically have,” he said. “They hold ~0.5% of the circulating supply, while Strategy alone holds 7x more BTC than all the miners combined.”

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Pi Coin has delivered a painful surprise, dropping sharply despite widespread expectations of a Pi Day-driven rally. The 23% decline over 24 hours caught many investors off guard, reversing the optimism that had built steadily throughout the week.

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A fresh technical signal on the XRP chart is drawing attention from traders, after analysts identified a new green candlestick pattern that could signal the start of a larger bullish phase.

According to market analyst CW, the candlestick formation recently appeared on higher-timeframe charts, suggesting momentum may be shifting after a prolonged consolidation period.

The analyst noted that once supporting sub-indicators confirm a bullish signal, XRP could enter what they describe as a “Phase 4 rally,” historically the stage where price acceleration becomes more pronounced.

Based on previous market cycles and Fibonacci extension analysis, the projected upside target is around $21.5, which corresponds to the 6.618 Fibonacci level.

That said, traders say XRP’s current market structure resembles a volatility squeeze, where price compresses within a narrow range before a sharp breakout. Such conditions often precede large directional moves as accumulated market pressure eventually resolves.

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On-chain data also suggests heightened activity from large holders.

According to data from CryptoQuant, whale-sized XRP transactions have surged across major exchanges in recent months. Binance alone reportedly recorded roughly 450 million XRP in large transfers over the past 10 days, signaling increased activity among high-value wallets.

Market data compiled by CoinMarketCap shows XRP trading near $1.41, up roughly 3% over the past 24 hours and slightly outperforming the broader crypto market. Part of the interest has been driven by the collaboration between Ripple and Mastercard to expand the use of blockchain technology for cross-border payments.

Technically, XRP is consolidating around the $1.38 to $1.41 range, where indicators such as Bollinger Bands are tightening, suggesting volatility is tightening.

If the asset maintains support near the $1.39–$1.40 breakout zone, traders expect a short-term move toward $1.44–$1.50. A failure to hold that level, however, could trigger a pullback toward the $1.34–$1.37 region before any broader rally develops.

Circle’s USDC stablecoin has overtaken Tether’s USDT in transaction volume for the first time since 2019, according to a research note from Japanese investment bank Mizuho.

The report shows that adjusted USDC transaction volume since the start of the year has reached approximately $2.2 trillion, compared with around $1.3 trillion for USDT.

This shift means USDC now represents roughly 64% of combined adjusted transaction volume between the two stablecoins, reversing a long-standing trend in which USDT consistently dominated market usage between 2019 and 2025.

The data highlights a notable change in stablecoin activity, suggesting that USDC may be gaining momentum in everyday transaction flows across crypto markets and digital payments.

Why Transaction Volume Matters More Than Market CapMizuho analysts argue that transaction activity is a more meaningful indicator of stablecoin influence than market capitalization.

While market cap reflects how much value is held in a stablecoin, transaction volume reveals how frequently the asset is actually used across exchanges, trading platforms, and payment infrastructure.

Total Stablecoins Market Cap. Source: defillama.comThe stablecoin that becomes the most widely used in daily transactions is likely to emerge as the dominant settlement layer in the digital asset ecosystem.

From this perspective, the shift in transaction leadership toward USDC could signal a deeper change in how institutions and market participants are choosing stablecoins for transfers and settlement.

However, the broader stablecoin landscape still shows a different picture when capitalization is considered. USDT maintains a clear lead with an estimated $184 billion market value, while USDC’s capitalization is around $79 billion.

Regulatory Uncertainty Still Shapes the Stablecoin MarketWhile market data points to changing usage patterns, the regulatory framework for stablecoins in the United States remains uncertain.

The CLARITY Act, which passed the U.S. House of Representatives, is currently stalled in the Senate due to disagreements over stablecoin yields, ethics rules, and the treatment of tokenized securities.

Senate Majority Leader John Thune has indicated that the chamber may prioritize other legislation before digital asset market rules, making near-term progress on stablecoin regulation unlikely.

Regulation could play a significant role in shaping the future balance between major stablecoin issuers. Circle is a U.S.-based company, while Tether operates from the British Virgin Islands, creating different regulatory dynamics for the two firms.

Adjusted Volume Shows Real Stablecoin DemandAnother important element highlighted by Mizuho is the concept of adjusted transaction volume.

This metric removes internal transfers and automated transactions, offering a clearer picture of genuine market demand rather than raw on-chain activity.

Because of this adjustment, analysts consider the metric a more reliable measure of real economic usage.

Whether USDC’s lead represents a lasting structural shift or a temporary change in market flows will likely become clearer over the coming quarters as transaction data continues to evolve.

The world’s largest asset manager, BlackRock, says investor demand for cryptocurrency exchange-traded funds (ETFs) remains overwhelmingly focused on Bitcoin and Ethereum, even as new crypto investment products enter the market.

Speaking about the firm’s digital asset strategy, BlackRock’s head of digital assets, Robert Mitchnick, said most clients show meaningful interest only in the two largest cryptocurrencies. He noted that while there are “pockets of interest” in other tokens, investor allocations continue to concentrate on Bitcoin and Ethereum.

Mitchnick described Bitcoin as an emerging “digital gold” and monetary alternative, while Ethereum is increasingly viewed as a technology-focused investment tied to blockchain innovation and decentralized applications.

Nonetheless, he claimed the firm still sees selective interest in other digital assets and will continue to review them as their ecosystems mature, gain liquidity, and expand into real-world applications.

He emphasized that the firm applies a very “discerning approach” when deciding which assets to include in an iShares ETF.

BlackRock launched a new Ether ETF, ETHB, this Thursday When asked what the future might hold for crypto ETFs, including the potential for sophisticated structures like staking or conventional fund structures to bring in new investors, Mitchnick said both are likely.

He said that in his firm’s case, he expects the new Ether ETF, iShares Staked Ethereum Trust (ETHB), to appeal to some investors, and the earlier-established IBIT, with a more conventional structure, to remain a preferred option for investors.

He added, “Will we see some more exotic structures coming into the space? I think no question. Some of those will be interesting. Some of them will resonate with investors.” He maintained, however, that his firm will proceed carefully before deciding how else to expand and what to incorporate.

BlackRock just launched the Ether ETF, ETHB, this Thursday. The fund has pulled in over $43 million in net inflows. Moreover, according to Bloomberg Intelligence analyst James Seyffart, the fund generated nearly $16 million in trading volume since its debut with $100 million in assets under management. 

He commented, “The vast majority of the trading is done, and we are at $15.5 million in trading volume for the BlackRock staked Ethereum ETF — ETHB. Very, very solid for a day 1 ETF launch.”

The new ETF offers staking, introducing an income element that portfolio managers view as a meaningful incentive and a potential driver for faster adoption compared to Bitcoin products.  It still provides users with a traditional brokerage account

Mitchnick says BTC ETF investors have maintained a steady accumulation approach In his interview with CNBC, Mitchnick also noted that over 90% of Bitcoin ETF investors have consistently been accumulating the token. He stated that most retail investors think long-term and thus often purchase holdings when asset prices fall.

On the other hand, he pointed out that short-term trading is largely limited to the roughly 10% of demand represented by hedge funds. 

He also asserted that even with Bitcoin’s price drop, IBIT still ranked fourth globally for ETF inflows in 2025, pulling in about $26 billion.

He remarked, “There’s clearly been a lot of selling pressure elsewhere in the Bitcoin ecosystem, on crypto exchanges, on these offshore levered perps platforms. But the ETF investor base has taken a much steadier, longer-term fundamental view of things.”

Meanwhile, the asset manager is still planning to introduce a Bitcoin Premium Income ETF that uses covered call strategies on Bitcoin futures to provide yield. The steady payouts, however, might come at the expense of potential gains in IBIT, which tracks Bitcoin’s market price.

Ethereum is showing two very different signals at once, which puts the next move in sharper focus. One chart shows near term weakness after a rejection at resistance, while the other points to a larger structure that could still support a major breakout later.

Ethereum Faces Rejection Near Resistance as Chart Points to Possible PullbackEthereum faced a sharp rejection after moving into a resistance area marked near $2,098 on the hourly chart shared by Always win. The setup shows price failing to hold above that level after a brief push higher, which may signal short term weakness.

Ethereum Resistance Rejection Setup. Source: AlwaysWin

The chart marks the rejected zone as a key resistance line that price has tested again after a steady recovery. After reaching that area, Ethereum pulled back quickly, suggesting sellers remain active there. The analyst’s projected path now points to a possible decline toward the lower support region near $1,883 before any stronger rebound attempt.

This structure reflects a common market pattern in which price meets resistance, retreats to test support, and then tries to rebuild momentum. In this case, the support zone near $1,883 stands out as the main downside level on the chart. If Ethereum drops toward that area, traders will likely watch whether buyers step in and defend it.

At the same time, the projection also shows a possible recovery after that pullback. If support holds, the chart suggests Ethereum could rebound and move back into the higher range, with a possible path toward the $2,240 area.

For now, the focus remains on the resistance zone near $2,098 and the lower support area near $1,883. The reaction between those two levels may determine whether Ethereum extends the rejection or stabilizes for another upward attempt.

Ethereum Chart Shows Key Resistance Test as Analysts Map Potential Breakout PathMeanwhile, Ethereum is approaching a long-standing resistance structure that has shaped several market cycles, according to chart analysis shared by DonWedge. The chart outlines a broad consolidation range that has formed between rising support and a horizontal resistance zone.

Ethereum Multi-Year Resistance Structure. Source: DonWedge

The structure highlights an ascending support line that has gradually lifted the market through multiple pullbacks. At the same time, a major resistance line above has repeatedly capped upward attempts. This combination creates a tightening range where price compresses between higher lows and a stable ceiling.

Within this structure, the chart marks several historical reactions where Ethereum moved toward the upper boundary but later retraced toward the rising support line. These repeated tests form a pattern that technical analysts often associate with accumulation phases during longer market cycles.

The projected path on the chart suggests another test of the resistance zone may occur after a pullback toward the ascending support region. From there, the projection outlines a potential breakout scenario where price clears the upper boundary of the range.

If that resistance level breaks decisively, the chart points to a longer expansion phase that could carry Ethereum toward higher historical levels. The projection highlights a possible move toward the $8,014 region as part of that broader structure.

For now, the focus remains on how Ethereum behaves between the rising support trend line and the horizontal resistance zone. A sustained move above the upper boundary would signal a structural shift away from the multi-year consolidation pattern.

Don Nesbitt covers the energy trade and the AI trade. “AI is still going to be a major influence on markets,” he says, especially around productivity.

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in DVY over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

After finishing the past two years with an average annual gain of nearly 23%, the financials sector has struggled this year. With a year-to-date loss of around 9%, the cohort ranks last among the S&P 500’s 11 sectors. 

But zooming out, the companies that call the sector home have proven to be key components of buy-and-hold investors’ portfolios. 

With high-quality growth stocks increasingly difficult to identify in the market, two legacy companies operating in the global payment processing and digital payment markets continue to produce profit margins that qualify them as forever stocks.

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Why Digital Payment and Payment Processors Make for Good Forever Stocks These companies have historically enjoyed higher profit margins than other industries afford due to their high-volume demand, ease of automation, and technology-driven business models that translate into low marginal costs per transaction. 

The industry is also poised for strong growth. According to industry analytics firm Grand View Research, the global payment processing solutions market, valued at nearly $48 billion in 2022, is projected to undergo a compound annual growth rate (CAGR) of 14.5% through 2030, reaching nearly $140 billion by the start of the next decade. Grand View also forecasts that the digital payment market, valued at more than $114 billion in 2024, will undergo a CAGR of 21.4% through 2030, reaching more than $361 billion.

While that degree of growth coupled with attractive gross margins could suggest the space is crowded, two of the biggest names in the industry continue to operate in a veritable duopoly, controlling over 90% of credit card and digital payments processed outside of China. With roots dating back to the mid-1900s, these companies control the digital payment and payment processing infrastructure, allowing them to dictate fees, limit competition, and maintain strikingly strong margins.

Despite companies including Block NYSE: XYZ, with its peer-to-peer payment service Cash App, and PayPal NASDAQ: PYPL, with its popular platform Venmo, looking to serve as disruptors, when it comes to forever stocks, none fit the bill better than the following two. 

Mastercard: The $450 Billion Market Cap Company Focusing on Tech Integration Since Michael Miebach took the reins at Mastercard NYSE: MA in 2021, the company’s management has maintained a focus on expanding its tech platforms, supporting cross-border commerce, and developing services that help clients reduce fraud, streamline payment flows and leverage payments data for insights. 

In doing so, Mastercard achieved record revenue and net income (a.k.a. profit) in 2025. Revenue of nearly $33 billion denoted a year-over-year (YOY) increase of more than 16%, while net income of nearly $15 billion was also good for a more than 16% YOY increase.

Overall MarketRank™99th Percentile

Analyst RatingBuy

Upside/Downside34.7% Upside

Short Interest LevelHealthy

Dividend StrengthStrong

News Sentiment1.17 Insider TradingN/A

Proj. Earnings Growth16.97%

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That profitability was driven, in large part, by a 100% gross margin throughout 2025, made possible by tech integrations and a minimal cost of goods sold, resulting in the company’s quarterly gross profit consistently matching its quarterly net revenue.

For investors, that has translated into rewarding earnings per share. The last time Mastercard missed on earnings was Q3 2020 following the onset of the COVID-19 pandemic. Since then, the company has strung together 21 consecutive quarterly earnings beats. 

Most recently, the company reported Q4 2025 EPS of $4.76, marking a nearly 25% year-over-year (YOY) increase over the same quarter a year prior. Mastercard's earnings are expected to grow nearly 17% in the year ahead, from $15.91 to $18.61 per share.

At the same time, the company has been embracing trends in the broader fintech industry. Mastercard has recently shifted from a traditional payment network to an AI-driven, software-focused enterprise that focuses on enhanced security, simplified B2B transactions with virtual cards, and agentic AI tools. 

Icing the cake, Mastercard pays a dividend that while not known for its substantial yield (currently 0.69%) has increased for 13 consecutive years. The payment processing firm maintains a sustainable dividend payout ratio of 21.07%, and its annualized five-year dividend growth rate stands at 13.70%. 

Visa: Evolving and Adapting Since 1958 Visa NYSE: V features a network-based model that enables partnering banks and other financial institutions to issue branded payment products while Visa focuses on infrastructure, standards, and technology integration. 

Like Mastercard, the company is rapidly integrating fintech, focusing on AI-driven solutions and blockchain-based settlement, with the goal of transitioning from its traditional card-based transactions to more flexible, digital-first experiences by 2026.

Overall MarketRank™97th Percentile

Analyst RatingBuy

Upside/Downside27.8% Upside

Short Interest LevelHealthy

Dividend StrengthStrong

News Sentiment1.27 Insider TradingSelling Shares

Proj. Earnings Growth12.65%

See Full Analysis

That resulted in Visa also reporting record revenue and net income in 2025, with the former coming in at $40 billion—good for an 11% YOY increase—and the latter registering nearly $20 billion.

While Mastercard’s run of earnings beats is impressive, Visa has not missed on earnings once in the past 10 years. During that stretch, the company has met analyst expectations twice while beating EPS expectations 38 times. 

Much of that can be attributed to the company’s nearly 83% gross profit margin in 2025, which falls in line with its 10-year average.

Like its counterpart, Visa also pays a modest dividend that currently yields 0.87%. And like Mastercard, its dividend payout ratio is a healthy 25.14% while its annualized five-year dividend growth rate stands at 14.48%. The company has increased its payout for 17 consecutive years.  

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Micron Technology (MU +5.08%) and Palantir Technologies (PLTR 1.65%) are two of the hottest artificial intelligence (AI) stocks. Both companies generate phenomenal revenue and earnings growth as demand for their products soars, thanks to developments in AI. And the market hasn't let that go unnoticed.

Despite the pullback in software stocks in 2026, Palantir's share price is up more than 96% over the past year and 1,990% in the last three years. And Micron shares have continued to climb in 2026, and the stock is now up 349% in the past year. The market now values Palantir at $367 billion and Micron at $452 billion as of this writing, making them two of the biggest companies in the world.

But another AI stock may be underappreciated by the market right now. And despite its market cap closer to $320 billion, I predict it'll be worth more than both Micron and Palantir by next year.

Image source: Getty Images.

These AI darlings are expensive There's no denying that both Micron and Palantir are producing excellent financial results right now. The biggest issue facing both companies is valuation.

At first blush, Micron's forward P/E ratio of 11.1 might seem like an incredible bargain. After all, the memory chipmaker is set to see earnings per share quadruple in its current fiscal year. Analysts expect even more growth next year.

But it's important to understand what's driving Micron's results. The sudden spike in earnings stems from growing demand for high-bandwidth memory (HBM) chips. As demand grows, Micron and the other memory chipmakers have reallocated capacity to meet it, but they've been slow to build new capacity.

As a result, prices for memory chips have spiked, increasing profits and margins. Price hikes might also artificially inflate demand from buyers front-running additional price increases, further exacerbating the near-term imbalance. Micron's management expects the supply constraints to remain through 2027.

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However, as more capacity comes online and the supply-demand equilibrium normalizes, prices will return to normal levels. With the additional expenses of its new capacity, operating expenses will remain high. Margins will compress, and earnings will decline. This is the cyclical nature of the semiconductor business, but it's especially pronounced in the commodity-like memory chip business.

Micron's P/E ratio has dropped into the low single digits at the peak of its earnings cycles. Based on historical data, investors expect the current earnings cycle to last well past 2028, even though management suggests supply will return to balance with demand by the end of next year.

Meanwhile, Palantir's forward P/E ratio of 118 and price-to-sales ratio of 90 are tough to swallow. Even though the company produced revenue growth of 70% last quarter and 56% for the full year, with improving operating margins, that valuation implies the incredible earnings growth will continue for years to come.

Analysts currently expect earnings per share growth to exceed 40% in both 2027 and 2028. But even with those lofty expectations, the stock trades for 60 times 2028 earnings forecasts. At its current valuation, a minor disappointment could send shares lower.

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As such, investors shouldn't expect the recent returns they've seen in Micron and Palantir stock to continue, given their current valuations. I predict both will trade around a $400 billion market cap by the end of 2027, if not lower. 

The AI stock that will overtake Micron and Palantir Meanwhile, another AI stock could see its valuation climb well past $400 billion by next year.

Despite a sharp sell-off in shares over the last couple of months, investors may have an incredible opportunity to buy shares of an AI cloud computing giant at an exceptional value. Alibaba (BABA +0.75%) may face competitive pressure and geopolitical risks, but its current valuation more than accounts for them. At a market cap of about $320 billion, it has significant upside from here.

Alibaba has seen its earnings drop significantly as it invests across both its retail operations and its cloud computing business. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) decreased 78% year over year in its second quarter, which ended in September.

On the retail side, revenue grew a respectable 16% last quarter. However, earnings were pressured by its push into "quick commerce," i.e., delivering items within an hour of a customer's order. The business requires significant scale to operate profitably, and Alibaba is spending heavily to promote it to customers and bring additional vendors and brands on board.

Unit economics improved last quarter, and management says they have continued improving since September. As quick commerce becomes margin-neutral, Alibaba should see a sharp recovery in its retail profits.

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Meanwhile, the opportunity in cloud computing remains massive. Revenue accelerated to 34% for the cloud division last quarter, driven by growing adoption of Alibaba's AI products. AI services are growing particularly quickly, up triple digits.

To support that growth, however, Alibaba is investing heavily in AI development and training to keep attracting more customers with its Qwen models. It's also spending heavily on infrastructure to support the growing demand.

Shares of Alibaba trade for just 21 times forward earnings expectations, which is a very attractive valuation for a company expected to grow earnings per share at a solid double-digit pace over the next two years after recovering from its current investment cycle. That price more than accounts for the risk of investing in China, and I expect the multiple to expand over the next couple years, pushing Alibaba's market cap above $400 billion by next year.

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SummaryAmazon is best valued as an AI infrastructure provider, with AWS and advertising as key growth and margin drivers.Despite heavy CapEx and near-term FCF pressure, AMZN's aggressive investments are fueling long-term revenue and profit expansion, especially in cloud and AI.AWS posted 24% YoY Q4’25 growth, a 39% operating margin, and a $244B backlog, positioning it as AMZN’s future profit engine.I rate AMZN a Strong BUY, citing attractive valuation, robust growth catalysts, and a favorable risk-reward profile despite intense competition. Gilnature/iStock via Getty Images

Investment Thesis Amazon Inc. (NASDAQ: AMZN) stock is down roughly 18% from its all-time high, primarily due to investors’ concerns about the company’s high CapEx.

While AMZN is well-known for its e-commerce business and most

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Tesla CEO ​Elon Musk ‌said on Saturday ​that the ​Terafab project will ⁠launch ​in seven ​days.

Northstar Gold Corp. (CSE:NSG) CEO Brian Fowler talked with Proactive about new drill results from the company’s Cam Copper Mine, located on the Miller Copper Gold Property near Kirkland Lake, Ontario.

Fowler discussed the outcome of a recently completed seven-hole, 1,200-metre drill program designed as an infill campaign to test the down-plunge extension of the project’s Number Two Zone.

The program returned several encouraging intercepts, including 3% copper, nearly six grams per tonne gold, 23 grams per tonne silver and 0.5% molybdenum over three metres.

Fowler noted that these results came from drilling at depth, approximately 50 metres below a previous high-grade intercept, and point to stronger mineralization deeper in the system.

The company is now working on a geological model that will be provided to Micon International Limited, which will prepare a resource estimate and NI 43-101 technical report.

These results will also feed into analysis by Novamera, supporting Northstar Gold Corp’s surgical mining initiative at Cam Copper.

Proactive: Welcome back inside our Proactive newsroom. Joining me now is Brian Fowler, CEO of Northstar Gold Corp. Brian, it’s great to see you again. How are you?

Brian Fowler: I'm well thanks. Hope you're good too.

Doing very well. You and I spoke back in December when you were beginning a seven-hole drill program, essentially a definition drilling campaign. You’ve now received the results. I imagine you’re pleased with what you're seeing at the Cam Copper Mine.

Absolutely. In late December we completed a seven-hole, 1,200-metre drill program. It was an infill program testing the down-plunge extension of our Number Two Zone at the Cam Copper Mine on the Miller Copper Gold Property, about 18 kilometres southeast of Kirkland Lake. This morning we announced the drill results, and we’re very pleased with some of the high-grade intercepts encountered at depth.

That includes about 3% copper, almost six grams gold, 23 grams per tonne silver and half a percent molybdenum over three metres. That’s pretty astounding and highly unexpected, but we’ll take it.

What stands out most to you — the copper numbers, the gold numbers, or the combination?

It’s really the combination. The drilling indicates mineralogy that’s higher temperature than what we previously intercepted. Prior to this, our best intercept was 14.8% copper over 2.5 metres. This new hole was about 50 metres below that.

It indicates we’re clearly on a very fertile structure in this VMS system. The down plunge is showing excellent continuity and is actually getting larger at depth. We think we may just be tapping the core of something big.

What happens next with these results?

We’ll complete our geological model and provide that to Micon International Limited, our consortium partner in the surgical mining initiative. Micon will prepare a resource estimate and NI 43-101 technical report.

That will allow Novamera to apply its analysis and develop economic projections. It also supports our efforts to obtain a mining permit and potentially begin a surgical mining program at Cam Copper as early as next year.

Are you considering additional drilling in the Number Two Zone?

Absolutely. The system remains wide open. While we’re focused on advancing the surgical mining initiative, this intercept shows mineralization improving with depth. It suggests the potential for something larger that could eventually support more conventional underground mining.

Quotes have been lightly edited for style and clarity

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The author expresses only personal opinions and does not provide financial advice. The content is for informational purposes only and should not be considered as investment recommendations. The author assumes no responsibility for any investment decisions made based on this article. Always conduct your own research or consult with a financial advisor before making any investment choices. The author makes no guarantees regarding the data, and the user agrees that the author shall not be held liable for the user's use of the data.

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March 14, 2026 10:15 ET  | Source: Senseonics Holdings, Inc.

New data shows positive real-world impact of the world’s first and only one-year CGM, with a full year of strong patient adherence, glucometrics and hypoglycemic outcomes

Eversense 365 delivered comparable adherence and outcomes between the first and second six-month period, indicating high accuracy and performance from a single sensor across an entire year

GERMANTOWN, Md., March 14, 2026 (GLOBE NEWSWIRE) -- Senseonics, a medical technology company focused on the development, manufacturing and commercialization of long-term, implantable Continuous Glucose Monitoring (CGM) Systems for people with diabetes, today announces new data from a real-world evidence study which demonstrates the sustained performance and positive impact of Eversense 365 across the full one-year period. These findings were presented during an oral presentation entitled ‘Real-World Evaluation Of The Implantable One Year Eversense 365 CGM System’ at the 19th International Conference on Advanced Technologies & Treatments for Diabetes (ATTD), taking place on March 11-14 in Barcelona, Spain.

“The promise of a year-long CGM has now been demonstrated in the real world,” said Francine Kaufman, M.D., Chief Medical Officer at Senseonics. “Since Eversense 365 was launched in the US, we have consistently heard positive feedback about the system and its impact from both patients and their healthcare providers. Today, we have presented real-world evidence that further validates our belief in this technology and what we are hearing from the diabetes community. The data demonstrate that Eversense 365 can perform exceptionally well and consistently across its entire lifespan, with strong adherence supporting a full year of positive glycemic outcomes with just one sensor.”

Strong adherence and positive outcomes
The study evaluated the first 5,059 real-world Eversense 365 CGM sensors to be used by patients in the US, all with open-loop insulin regimens. The analysis revealed strong patient adherence, glucometrics and hypoglycemic outcomes, demonstrating how Eversense 365 can support effective management of diabetes over a full one-year period with just one implantable CGM sensor.

Patients using Eversense 365 had an average transmitter wear time of 93.8%, with comparable results for the first and second six-month periods, indicating a year of consistent and meaningful system use. This resulted in a mean Glucose Management Indicator (GMI) of 7.14% and a mean Time in Range (TIR) of 66%, demonstrating effective glycemic control. GMI is an established metric that provides an estimated A1C using only CGM data, with a lower value indicating better management and reduced health risks. GMI is often used alongside TIR to provide a more complete picture of glycemic control.

Furthermore, over 75% of users of the implanted, year-long CGM system achieved hypoglycemic targets, reinforcing that Eversense 365 is the most accurate CGM in low glucose ranges1,2,3, where errors can have the greatest impact on patient safety and treatment decisions. The real-world analysis also showed that glucometrics and hypoglycemic outcomes were comparable for both the first six months and second six months of wear

Specific age group benefits
Additionally, analysis by age revealed that Eversense 365 supported positive glucometrics and outcomes across all age groups. However, glycemic outcomes were seen to improve with increasing age, with the >65 year-old population achieving a mean GMI of 6.99% and a mean TIR of over 70%, with over 85% achieving hypoglycemic targets. The trend was also observed with adherence, with over 95% average wear time in those 65 years and older. This suggests that, whilst all age groups can benefit from Eversense 365, there may be particular benefits and positive outcomes in older populations.

Furthermore, the analysis suggested that Eversense 365 could bring specific benefits to young adults (aged 18-25), who typically have poorer glycemic control. Encouragingly, this age group had a mean GMI of 7.3% with a mean wear time over 90%, which again demonstrates strong adherence.

Encouraging early analysis of AID combination
Two weeks after the commercial launch of the twiist™ Automated Insulin Delivery (AID) system with Eversense 365, real-world data was also analyzed from the first ~120 people who had used the combined system for more than seven days. The glucose outcomes were extremely encouraging with a mean GMI of 6.79%, mean TIR of 77% and time in hypoglycemia of 2.7%, all meeting the international consensus targets. twiist is the first AID system to be compatible with Eversense 365 and, whilst still in the early stages, the initial data analysis suggests that this powerful combination is already having a positive clinical impact. Senseonics plans to present a longer-term real-world analysis later this year.

Brian Hansen, Chief Commercial Officer at Senseonics, added: “We are proud to present these data at ATTD, which is always a fantastic opportunity to connect with the diabetes ecosystem and discuss the latest developments in technology and care. The meeting is particularly timely for us this year following the recent CE mark approval and upcoming launch of Eversense 365 in select European markets. We are gaining momentum commercially in the US and look forward to bringing the benefits of this unique, implantable CGM to new patients and geographies.”

Eversense 365 is the world’s first and only one year CGM, which was approved by the United States Food and Drug Administration in September of 2024 and launched across the country in October of the same year. In January 2026, Eversense 365 received European CE Mark approval and Senseonics expects to launch Eversense 365 in Germany, Italy, Spain and Sweden in the coming months.

As the only implantable CGM available, Eversense 365 offers patients a truly differentiated CGM experience, providing one year of exceptionally accurate monitoring with minimal interruptions. Eversense 365’s unique approach allows people to overcome common frustrations and interruptions experienced with traditional, short-term CGMs, so that patients can focus on managing their diabetes and not their CGM.

1 Senseonics. (2026) Eversense 365 Continuous Glucose Monitoring System User Guide. LBL-7702-01-001
2 Abbott. (2024) Freestyle Libre 3 PLUS User Guide ART49385-001
3 Dexcom (2025) G7 15 Day User Guide AW00078-10 MT-00078-10

About Eversense

Eversense 365 is developed by Senseonics and, as the only implantable CGM available, offers patients a truly differentiated CGM experience, providing One Year of exceptionally accurate monitoring with minimal interruptions. It benefits endocrinologists and care teams by offering their patients confidence in decision making, long-term peace of mind and enhanced quality of life with just one CGM. The unique approach also allows people to overcome common frustrations and interruptions experienced with traditional, short-term CGMs, so that patients can focus on managing their diabetes and not their CGM.

The Eversense® Continuous Glucose Monitoring (CGM) Systems are indicated for continually measuring glucose levels for up to 365 days for Eversense® 365 and 180 days for Eversense® E3 in persons with diabetes age 18 and older. The systems are indicated for use to replace fingerstick blood glucose (BG) measurements for diabetes treatment decisions. Fingerstick BG measurements are still required for calibration primarily one time per week after day 14 for Eversense® 365 and one time per day after day 21 for Eversense® E3, and when symptoms do not match CGM information or when taking medications of the tetracycline class. The sensor insertion and removal procedures are performed by a health care provider. The Eversense CGM Systems are prescription devices; patients should talk to their health care provider to learn more. For important safety information, see https://www.eversensediabetes.com/safety-info/.

About Senseonics
Senseonics Holdings, Inc. ("Senseonics") is a medical technology company focused on the development, manufacturing and commercialization of glucose monitoring products designed to transform lives in the global diabetes community with differentiated, long-term implantable glucose management technology. Senseonics' CGM system Eversense® 365 and Eversense® E3 include a small sensor inserted completely under the skin that communicates with a smart transmitter worn over the sensor. The glucose data are automatically sent every 5 minutes to a mobile app on the user's smartphone.

Senseonics Media Contact

Tim Stamper
FTI Consulting
[email protected] / [email protected]

Senseonics Investor Contact

Jeremy Feffer
LifeSci Advisors
[email protected]

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Bitcoin peaked at $126,230 on October 6. It has been falling for 159 days since. To most holders, that feels like an eternity. To anyone who has looked at the historical data, it barely registers.

CryptoQuant analyst Darkfost laid out the numbers. In the 2017 cycle, it took 1,180 days before Bitcoin reached a new all-time high. In 2021, it was 1,093 days. In 2025, that compressed to 849 days. The current correction sits at 159 days. By every prior measure, this is early.

The Cycle Is Getting Shorter, But 2025 Already Broke the RulesThe data shows a clear pattern: the time between Bitcoin all-time highs is shrinking with each cycle. But 2025 did something no previous cycle had done. It produced a new ATH before a halving, not after.

Darkfost attributes this directly to the launch of spot Bitcoin ETFs in January 2024. That single structural change pulled institutional capital into Bitcoin in a way that disrupted the halving-led cyclicality the market had relied on for over a decade.

His view on the halving itself is worth noting.

“I do not think the halving itself is the main driver behind the creation of a new ATH,” Darkfost wrote. “The end of bear market trends are usually already well advanced before the halving occurs.”

The halving still matters, he argues, but through its long-term effect of reducing miner sell pressure, not as the trigger most people treat it as.

Also Read: Bitcoin ETF Inflows Hit $767M in 5 Days: Why Isn’t the BTC Price Moving?

The Rule Change That Could Be Bigger Than the ETFWhile the cycle debate plays out on-chain, a regulatory shift is building in Washington that Coinbureau CEO Nic says deserves serious attention.

Under current Basel rules, Bitcoin carries a 1,250% risk weight – meaning banks must hold capital equivalent to their entire BTC exposure. As Nic put it, that makes it “almost impossible for banks to offer services around BTC.”

The Fed announced this week that a proposal is coming on how these Basel rules will be implemented in the US, opening a 90-day public comment window. The proposal is not specifically a Bitcoin rewrite – it covers broader capital standards for the largest banks. But the comment window creates a direct opening to challenge Bitcoin’s treatment.

“If Bitcoin’s treatment improves even slightly,” Nic wrote, “it could open the door for banks to finally integrate BTC into the financial system. That’s a huge potential liquidity unlock.”

Spot ETFs changed the cycle in 2024. If Basel changes, banks could be the next structural catalyst. At 159 days into this correction, that timing matters.

Bitcoin is currently trading at $70,689, down 2.37% on the day.

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Bitcoin [BTC] Supply on Exchanges has continued to fall lately, reinforcing a broader structural shift towards long-term holding.

In fact, according to Santiment, only about 5.8% of Bitcoin’s total supply remains on exchanges right now – The lowest level since November 2017 when BTC was valued at close to $16,400.

Source: Santiment/ X Earlier in the cycle, exchange balances exceeded 3 million BTC around 2018, reflecting higher trading liquidity and more frequent market rotation. As time progressed, however, reserves gradually trended south as investors increasingly moved coins into self-custody.

Meanwhile, Bitcoin advanced through multiple market cycles, including the rally that pushed prices towards $69,000 in 2021.

At the same time, exchange balances continued to fall, with the same currently sitting at 2.43 million BTC. Such a steady contraction is symbolic of a tightening liquid supply environment.

Source: CoinGlass In that context, fewer coins remain readily available for immediate selling. All while the migration towards cold storage signals stronger holder conviction and a market increasingly shaped by long-term accumulation dynamics.

Institutional capital deepens Bitcoin’s supply compression Bitcoin’s declining exchange supply has already signaled tightening liquidity. Institutional flows simply deepen that trend though. In fact, since January 2024, Spot Bitcoin ETFs have attracted approximately $56 billion in cumulative inflows, according to Farside data.

With Bitcoin trading near $71,000 at press time, even modest inflows remove hundreds of BTC from circulation. Daily demand often surpasses the fixed 450 BTC miner issuance, steadily tightening available supply.

According to CryptoQuant, ETF custodians now hold about 1.3 million BTC, roughly 6.7% of the circulating supply – Underscoring sustained institutional accumulation.

Source: CryptoQuant On-chain behavior seemed to be complementing this trend too.

Long-Term Holder supply stands near 14.43 million BTC, close to cycle highs, while dormant bands from six to twelve months have continued to expand. Such conviction historically compresses liquid inventory, creating scarcity conditions that often precede strong Bitcoin rallies.

Shrinking float raises Bitcoin’s price sensitivity Tightening exchange supply and steady ETF demand have already reduced available Bitcoin liquidity, and order-book dynamics now reflect that shift. Kaiko data revealed 1% market depth, with BTC hitting record highs across major venues. U.S exchanges such as Coinbase and Kraken dominate this liquidity expansion. Bid and ask liquidity within the 0.1–1% range has steadily increased too.

Even so, thinner spot supply raises price sensitivity as large buy orders now move markets more easily. Reduced exchange balances mean fewer coins absorb aggressive demand. At the same time, post-halving issuance remains capped near 450 BTC per day.

Also, according to CryptoQuant, the Miners’ Position Index had a reading of –0.93 at press time – Evidence of restrained selling pressure.

ETF inflows have continued to absorb both new issuance and circulating supply so far. In such a setting, compressed liquidity and steady institutional accumulation could gradually create conditions that historically precede accelerated Bitcoin price rallies.

Final Summary Bitcoin [BTC] exchange reserves falling to 2.43 million BTC while ETFs hold 1.3 million BTC highlights a tightening liquid supply that increasingly favors long-term accumulation dynamics. Bitcoin demand from Spot ETFs absorbing 450 BTC daily issuance alongside restrained miner selling raises price sensitivity, strengthening conditions for supply-driven rallies.