Preface
Bitcoin and Ethereum have seen declines of 0.54% and 2.64% respectively in the past 24 hours, with current prices at $87,195 and $2,019. The ETH/BTC exchange rate stands at 0.023. The Fear & Greed Index for the cryptocurrency market is at 40, indicating fear.

Market Trending

Yesterday, tariffs once again became a significant factor in the market. Bitcoin consolidated between $85,861 and $88,274, while Ethereum fell to the $2,000 resistance level, with altcoins generally experiencing slight declines.

President Trump’s tariff announcement impacted the financial markets, causing all major U.S. stock indices to close in the red. Bitcoin traded within a narrow range for most of the day, briefly slipping to $85,861. Ethereum mirrored this decline, retreating slightly to the $2,000 resistance level. Despite the short-term price drop for Bitcoin, on-chain data shows that large Bitcoin holders continue to accumulate. Since March 11, whale addresses have increased by over 129,000 BTC, with buying momentum accelerating over the past two days. The trading behavior of cryptocurrency whales often signals short-term market trends, which can attract the attention of smaller investors.

Additionally, Gamestop Corp. (NYSE: GME) announced on March 26 that it plans to raise $1.3 billion through a private placement of convertible senior notes, using the net proceeds for general corporate purposes, including acquiring Bitcoin in a manner consistent with Gamestop’s investment policy. The day before, the company shifted its investment policy to allow for investments in certain cryptocurrency assets, including Bitcoin and dollar-pegged stablecoins. Gamestop’s move echoes Michael Saylor’s blueprint for Bitcoin, with Saylor stating that Gamestop’s Bitcoin initiative is “a step in the right direction.”

In the altcoin sector, the AI segment has seen significant declines, with FARTCOIN, KAITO, AI16Z, and ARC dropping over 10%. The meme segment has seen slight recoveries, with DOGE, SHIB, and PEPE experiencing minor increases. In the DeFi sector, mainstream tokens like UNI, AAVE, and JUP have seen declines of around 5%, while HYPE has dropped over 10% due to liquidation issues.

The trajectory of Bitcoin remains uncertain. The support from spot Bitcoin ETFs and corporate interest continues to provide bullish momentum for Bitcoin, but inflation and tariff policies persistently dampen investor enthusiasm. President Trump’s dual role as a supporter of both cryptocurrency and tariffs further complicates the situation, and the cryptocurrency market requires clearer signals for a potential rebound.

Spot Bitcoin ETF Flows

The U.S. spot Bitcoin ETF saw a net inflow of $90.05 million yesterday, with IBIT experiencing a net inflow of $108.37 million, while BITB had a net outflow of $18.32 million.

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Daily Spotlight

Today’s spotlight is MKR, which has seen a 24-hour increase of 11.55%.

MakerDAO (MKR) operates on the Ethereum blockchain and is centered around the Maker protocol, also known as the Multi-Collateral Dai (MCD) system. This allows users to generate DAI, a soft-pegged stablecoin, using assets approved by Maker Governance as collateral. MKR serves as the utility token for the MakerDAO platform, supporting the DAI stablecoin. Its main functions include lending, storage, governance, and development. MakerDAO is one of the first decentralized autonomous organizations (DAOs) to implement active proposal smart contracts, allowing participants to control the MakerDAO platform through MKR tokens.

MKR has seen a 24-hour increase of 11.55%, currently priced at $1,475.90.

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The Word on the Street

Trump orders a large-scale digital transformation of U.S. bank accounts.

On March 25, President Donald Trump signed an executive order at the White House directing the government to transition to digital payments, aiming to nearly eliminate all paper-based payments by the end of the fiscal year 2025. The order addresses inefficiencies in the current system, highlighting rising costs, fraud, and delivery delays associated with physical checks and money orders.

“Historically, the likelihood of Treasury checks being reported lost or stolen, returned, or altered is 16 times that of electronic funds transfers (EFT),” the order states. In the fiscal year 2024, processing physical records cost taxpayers over $657 million. The order mandates that by September 30, 2025, the federal government will stop issuing all payments via paper checks, including intergovernmental payments, benefits, vendor payments, and tax refunds. The order further specifies that “all executing departments and agencies must transition to modern electronic funds transfer (EFT) methods, such as direct deposit, debit/credit card payments, digital wallets, and real-time transfers.” Agencies are required to register beneficiaries for digital systems and reduce reliance on Treasury lockbox services.

Project Funding

Particle Network announces the upcoming PARTI airdrop.

Particle Network has announced that the PARTI airdrop is about to begin, with an initial circulation of 233 million tokens, accounting for 9% of the total token supply. The total supply of PARTI is 1 billion tokens, which will be gradually released to support account abstraction, network decentralization, and community growth. Token distribution includes: 40% for community growth, 24.39% for private placement, 12.11% for team and advisors, 6% for HODL airdrop, 5% for liquidity, 5% for IDO, 5% for strategic reserves, 1.5% for KOL round, and 1% for wallet airdrop.

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