Bitcoin’s Wild Ride: Panic, Pockets, and a Dash of Diplomacy!

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What to know:

By Omkar Godbole (All times ET unless indicated otherwise)

The stablecoin market, that old fox, has slinked back into view, with USDC leading the charge like a drunken general. Bitcoin, ever the dramatic, has mounted a rally so grand it makes a peacock’s tail seem modest.

The Iran war panic, once a tempest in a teacup, has now settled into a polite cough. President Trump, with the wisdom of a man who thinks diplomacy is a brand of cologne, declared the conflict may end soon. Result? Bitcoin, which clung to life like a beggar to charity, now dances past $70,000, up over 4%. The CoinDesk 20 Index, ether, solana, and XRP follow suit, while smaller coins like HYPE, ZEC, and RENDER perform a jittery waltz of 7% to 11%.

USDC, that second-string dollar-pegged cryptocurrency, marches toward a record $78.6 billion market cap, recovering from its January slump like a man who forgot he was broke. USDT, the stablecoin titan, nudges its supply to $184 billion, as if whispering, “I’m still here, don’t forget me.”

This surge in dollar-pegged coin supply suggests investors are hoarding cash like squirrels at a nut shortage, ready to pounce on the next crypto fad. ETF inflows, those golden goose eggs, only sweeten the pot.

Yet caution lingers! The Coinbase Premium Index, a barometer of U.S. investor enthusiasm, remains negative, as if the American public is too busy binge-watching Netflix to care. Historically, bull runs require premiums, not this anemic sigh.

In traditional markets, oil, that old glutton, has retreated below $100, a relief for risk assets everywhere. The dollar index and Treasury yields, after a brief tantrum, have returned to their nap. Stay alert! Or don’t-we won’t judge.

What to Watch

For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead”.

Token Events

For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead”.

Conferences

For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead”.

  • Day 2 of 5: Policy Week 2026 (Sydney, Australia)

Market Movements

  • BTC is up 2.56% from 4 p.m. ET Monday at $70,734.01 (24hrs: +4.60%)
  • ETH is up 1.68% at $2,061.24 (24hrs: +3.38%)
  • CoinDesk 20 is up 2.02% at 2,015.27 (24hrs: +4.08%)
  • Ether CESR Composite Staking Rate is up 17 bps at 2.81%
  • BTC funding rate is at 0.0024% (2.6105% annualized) on Binance

  • DXY is unchanged at 98.84
  • Gold futures are up 2.02% at $5,194.10
  • Silver futures are up 6.50% at $89.50
  • Nikkei 225 closed up 2.88% at 54,248.39
  • Hang Seng closed up 2.17% at 25,959.90
  • FTSE 100 is up 1.84% at 10,437.86
  • Euro Stoxx 50 is up 2.94% at 5,852.45
  • DJIA closed on Monday up 0.50% at 47,740.80
  • S&P 500 closed up 0.83% at 6,795.99
  • Nasdaq Composite closed up 1.38% at 22,695.95
  • S&P/TSX Composite closed up 0.32% at 33,189.30
  • S&P 40 Latin America closed up 1.61% at 3.532,70
  • U.S. 10-Year Treasury rate is unchanged at 4.14%
  • E-mini S&P 500 futures are unchanged at 6,823.00
  • E-mini Nasdaq-100 futures are unchanged at 25,100.25
  • E-mini Dow Jones Industrial Average futures are unchanged at 47,948.00

Bitcoin Stats

  • BTC Dominance: 59.53% (0.77%)
  • Ether-bitcoin ratio: 0.02905 (-0.27%)
  • Hashrate (seven-day moving average): 1,008 EH/s
  • Hashprice (spot): $31.06
  • Total fees: 2.52 BTC / $171,578
  • CME Futures Open Interest: 103,205 BTC
  • BTC priced in gold: 13.7 oz.
  • BTC vs gold market cap: 4.76%

Technical Analysis

  • The chart shows SOL‘s daily price action in candlestick format since August last year.
  • The token is again trapped in a back-and-forth trading range, this time between $75 and $90, mimicking the October and December-January pattern.
  • The next move depends on the direction in which the range is ultimately resolved. A bullish resolution could bring a quick-fire rally above $100, while a breakdown would suggest continuation of the broader bearish trend.

Crypto Equities

  • Coinbase Global (COIN): closed on Monday at $199.79 (+1.30%), +3.46% at $206.70 in pre-market
  • Circle Internet Group (CRCL): closed at $111.84 (+9.74%), +2.18% at $114.28
  • Galaxy Digital (GLXY): closed at $21.50 (+4.57%), +3.09% at $22.16
  • MARA Holdings (MARA): closed at $8.66 (+8.11%), +2.31% at $8.86
  • Riot Platforms (RIOT): closed at $14.70 (+3.78%), +2.52% at $15.07
  • Core Scientific (CORZ): closed at $15.16 (+2.02%), +1.45% at $15.38
  • CleanSpark (CLSK): closed at $9.61 (+4.34%), +2.29% at $9.83
  • Exodus Movement (EXOD): closed at $10.83 (-0.64%)
  • CoinShares Bitcoin Miners ETF (WGMI): closed at $37.33 (+3.49%)
  • Bullish (BLSH): closed at $36.06 (+3.15%), +1.14% at $36.47

Crypto Treasury Companies

  • Strategy (MSTR): closed at $138.95 (+4.06%), +3.25% at $143.46
  • Strive Asset Management (ASST): closed at $8.51 (-2.18%), +4.58% at $8.90
  • Sharplink (SBET): closed at $7.60 (+3.26%), +1.71% at $7.73
  • Upexi (UPXI): closed at $0.97 (+7.78%), +6.19% at $1.03
  • Lite Strategy (LITS): closed at $1.20 (+5.26%)

ETF Flows

Spot BTC ETFs

  • Daily net flows: $167.1 million
  • Cumulative net flows: $55.52 billion
  • Total BTC holdings ~ 1.28 million

Spot ETH ETFs

  • Daily net flows: -$51.3 million
  • Cumulative net flows: $11.61 billion
  • Total ETH holdings ~ 5.73 million

Read More

2026-03-10 14:44