Geopolitical Strain Weights on Crypto

Leading cryptocurrencies fell Wednesday evening after President Donald Trump stated the U.S. military campaign against Iran will continue. Trump noted the campaign persists until objectives are “fully achieved.”

Massive Treasury Exposure

The volatility directly impacts Bitmine’s significant balance sheet. As of March 29, Bitmine held 4,732,082 ETH tokens. This represents 3.92% of the total Ethereum circulating supply.

Chairman Tom Lee recently called crypto a “good wartime store of value” despite the current market retracement.

Staking Revenue and Targets

Bitmine is pursuing its “Alchemy of 5%” goal to acquire 5% of all ETH. The company has…

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The 11% Yield Strategy

During a recent episode of the All Things Markets podcast, Scaramucci and Galaxy Digital Inc. (NASDAQ:GLXY) CEO Mike Novogratz analyzed MSTR’s strategy of offering a yield-bearing security.

Scaramucci noted that investors putting money into Michael Saylor’s company, earlier known as MicroStrategy, can receive four quarterly dividend payments equivalent to roughly an 11.5% yield.

While emphasizing the attractiveness of the trade, Scaramucci made sure to clarify his firm’s exact position to listeners. “I’m a huge fan of his and obviously SkyBridge owns a lot of Bitcoin. We don’t own any of that security, but I just wanted to disclose that to people,”…

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A leading analyst on Wednesday flagged “major” volatility for Dogecoin (CRYPTO: DOGE) as the meme heavyweight battled geopolitical jitters like the broader cryptocurrency market.

Which Way Is DOGE Headed?

Ali Martinez took to X, highlighting a Bollinger Bands squeeze roughly between $0.874 and $0.101. They read it as a sign of an incoming “major price move.”

The Bollinger Band Squeeze occurs when the volatility drops, causing the space between the bands to tighten. When the price closes outside of bands, traders consider it a potential new breakout. This strategy is used to identify the start of new trends following periods of consolidation.

Key Technical Indicators Turn Bearish

The…

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Artemis-themed cryptocurrencies spiked on Wednesday after NASA’s historic mission launched four astronauts on a 10-day lunar orbit.

Coins To The Moon?

Another token with a similar name jumped 11%, with a higher fully diluted valuation at $28,600.

Proceed With Caution

Neither coin is verified on CoinMarketCap and traded with low liquidity on decentralized exchanges. Nor do they have any connection to the moon mission in question.

Benzinga Note: Investing in coins, especially those with thin liquidity and low volume, is highly speculative and involves significant risk. Always do your own research.

Historic NASA Mission

The spike comes after NASA launched Artemis II from Kennedy Space Center,…

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Leading cryptocurrencies fell alongside stock futures on Wednesday evening after President Donald Trump said the U.S. will continue its military campaign against Iran until the objectives are “fully achieved.”

Crypto Market Retraces

Bitcoin slid below $67,000 late evening, while Ethereum pulled back below $2,100. Other major cryptocurrencies were also sent lower.

Nearly $350 million in crypto positions were liquidated in the past 24 hours, with bullish long traders bearing the brunt of the losses.

Open interest in Bitcoin futures fell 2.29% in the last 24 hours, although retail and whale Binance traders were still net long on the leading cryptocurrency.

“Extreme Fear” persisted in the…

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EDX Markets, a crypto exchange backed by Citadel Securities and Fidelity Digital Assets, has filed with the Office of the Comptroller of the Currency (OCC) for a national trust bank charter.

The OCC has not indicated a timeline for a decision on the application; however, if it is approved, EDX’s custody, management, and trading operations would fall under direct banking supervision.

Securing a trust bank charter would provide EDX with the regulatory framework needed to serve institutional investors, who have identified custody risks and regulatory uncertainty as obstacles to adopting crypto.

Other crypto firms have recently secured approvals from the OCC for a national trust bank charter.

In…

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Bitcoin is holding near the $68,000 level as geopolitical tensions ease and regulatory clarity improves, helping stabilize the broader crypto market.

Notable Statistics:

Coinglass data shows 114,174 traders were liquidated in the past 24 hours for $256.84 million.       

SoSoValue data shows net inflows of $117.6 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net inflows of $31.2 million.

In the past 24 hours, top gainers include Stable, Algorand and Sei.

Notable Developments:

Trader Notes: Trader Gordon Gekko said Bitcoin’s bottom may already be in place, though he warned of a potential final dip similar to November 2022 before a stronger upward reversal.

Benzinga