Bitcoin (CRYPTO: BTC) may be approaching a critical phase in its market cycle after a 52% correction from its October 2025 peak, aligning with a key moving average signal seen in late February.

• Why is BTC dropping today?

Transition From Bear To Bull Markets

In a March 30 post on X, crypto analyst Ali Martinez pointed to the three-day chart, where the crossover of the 50-day and 200-day simple moving averages has historically marked the transition from bear to bull markets.

In previous cycles, including 2014, 2018 and 2022, this signal occurred after Bitcoin had declined between 50% and 72%.

Following the crossover, markets typically experienced a final capitulation phase within 23 to 33…

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The Meme Coin Collapse

CryptoQuant data shows meme coin dominance within the altcoin market fell from 0.042 in mid-February to 0.034 in March. .

Solana (CRYPTO: SOL), which served as the primary hub for memecoin speculation, has seen on-chain engagement collapse. 

The number of daily decentralized exchange traders on Solana has hit record lows, according to analyst Shah.

“Participation is at all time lows, just a few thousand people are still active, so good coins that once had 100M–1B potential are stuck trading between 500k-20M,” Shah wrote. Moreover X user @capexbt described the chain as a “ghost town.”

The Failed Breakout

Dogecoin has erased nearly 80% from its October 2025…

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The Wartime Outperformance

“As the Iran war enters its 5th week, ETH and crypto outperformed the broader market with ETH outperforming equities by 1,160 basis points,” Lee said. 

“This is a marked contrast to Gold (a traditional store of value), which has underperformed by more than 750 basis points,” he added.

He noted that the inverse correlation between crypto and equities and oil has reached its highest level in the past year. 

Rising oil prices create a headwind for both equities and crypto until markets become comfortable with oil’s future trajectory. 

Lee expects the crypto winter will likely end when the upside risk to oil prices peaks.

The 5% Target

Bitmine now owns 3.92%…

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Ripple CEO Brad Garlinghouse said the crypto industry cannot afford another “Gary Gensler moment,” criticizing what he described as a “war on crypto” under the Biden administration.

Ripple Remains Strong

In a March 27 interview with FOX Business, Garlinghouse said crypto markets faced headwinds over the past year and entered 2026 on a flat note as U.S. regulatory direction remains uncertain. He said clearer and more consistent rules are needed and pointed to recent regulatory progress as a positive step.

Garlinghouse said Ripple is continuing to grow despite market volatility, driven by acquisitions and expansion into areas such as treasury management and prime brokerage.

He said these…

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Grayscale says crypto treasury firms are likely to remain a permanent fixture of the investing landscape as they diversify into new business lines.

DATs Stabilized Through Strategic Approaches

In a post on March 26, Grayscale head of research Zach Pandl noted that DATs surged last year as strong valuations enabled aggressive token accumulation and inspired similar firms.

However, by late 2025, momentum weakened as many shares traded below their underlying crypto values, raising questions about sustainability and even prompting concerns that some firms could be excluded from benchmark indices.

More recently, DATs have regained stability by improving capital structures, generating yield…

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The Hypothetical That Wasn’t So Hypothetical

A month later, he followed up with a disclaimer that he was about to tell a “completely made up, hypothetical story” where any resemblance to real exchanges was “entirely coincidental.”

In his hypothetical, an unnamed exchange refuses to list XRP even though doing so would clearly benefit their business. 

Instead, they approach Ripple, demanding millions of dollars as a listing fee. Ripple refuses, and months go by at a deadlock. 

The exchange even privately admits that they would have listed XRP long ago if Ripple simply didn’t exist as a company.

Eventually, a deal gets struck. Ripple pays. XRP gets listed. Almost immediately, XRP…

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