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Iran completes pre-pilot phase of central bank digital currency

The Central Bank of Iran progresses with CBDC development in anticipation of the Bank of Russia’s governor Elvira Nabiullina’s visit.

BTC price ‘in the chop zone’ — 5 things to know in Bitcoin this week

Bitcoin (BTC) starts a new week with consolidation in the air amid some of the least volatile conditions ever.

Despite losing 5% in an hour last week, Bitcoin’s subsequent lack of volatility is on every trader’s mind.

The question is whether that will change in the coming days.

There are plenty of potential catalysts, from macroeconomic data to exchange setups and more, but which will win out — and in which direction it will send BTC price — remains to be seen.

Behind the scenes, it remains business as usual for Bitcoin network fundamentals, with miners preserving their newfound buoyancy and ready for new all-time highs in difficulty.

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Pakistan banks agree on blockchain-based KYC system development

The blockchain-based national eKYC banking platform is aimed at strengthening anti-money laundering (AML) capabilities while countering terror financing.

Crypto funding seen shifting from CeFi to DeFi after major collapses: CoinGecko

"NFTfi,” on-chain derivative platforms, decentralized stablecoins and Ethereum L2s are four investment opportunities being looked at closely by one crypto investment firm.

Internal documents reveal Australia's potential timeline for crypto legislation: Report

Internal documents from the Australian Treasury Department have revealed crypto legislation in the country could be a year away at the very least.

Snoop Dogg revealed as co-founder of Web3-powered livestream platform

Snoop Dogg has had a considerable presence in the Web3 creator movement since NFTs first gained popularity in 2021.

EOS, STX, IMX and MKR show bullish signs as Bitcoin searches for direction

The United States equities markets made a strong recovery this week but Bitcoin (BTC) failed to follow suit. This means that cryptocurrency investors stayed away and could be worried by the ongoing problems at Silvergate bank. These fears could be what is behind the total crypto market capitalization dropping to nearly $1 trillion.

The behavior analytics platform Santiment said in a report on March 5 that there was a “huge spike of bearish sentiment,” according to their bullish versus bearish word comparison Social Trends chart. However, the firm added that the “kind of overwhelmingly bearish sentiment can lead to a nice bounce to silence the critics.”

Crypto market data daily view. Source: Coin360

Another short-term positive for the crypto markets is the weakness in the U.S. Dollar Index (DXY), which fell by 0.70 in the past 7 days. This suggests that crypto markets may attempt a recovery over the next few days. As long as Bitcoin remains above $20,000, select altcoins may outperform the broader markets.

Let’s study the charts of Bitcoin and the four altcoins that are showing promise in the near term.


Bitcoin plummeted below the $22,800 support on March 3. Buyers tried to push the price back above the breakdown level on March 5 but the long wick on the candlestick suggests that bears are trying to flip $22,800 into resistance.

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Russia-Ukraine war: How both sides of the conflict have used crypto to win

While tens of millions worth of crypto were donated to Ukraine in the last year, pro-Kremlin groups have also leveraged digital currencies to buy military supplies and spread propaganda.

Can blockchain help combat climate change?

Blockchain’s transparency and traceability can aid sustainability and reduce carbon emissions for climate change.

Bitcoin price faces ‘last stand’ as weekly close threatens $22K retest

Bitcoin (BTC) stayed near key support on March 5 as the weekly candle close brought fresh fears of a breakdown.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Analyst warns over fate of $20,000

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it continued to move in a tight range over the weekend.

The pair had remained practically stationary since its abrupt fall on March 3, triggered by a margin call amid uncertainty over  Silvergate Bank.

While avoiding further losses, analysis warned that Bitcoin could still easily fall much lower if a nearby support level failed to hold.

Monitoring resource Material Indicators explained that BTC price action had “lost key technical support” and that $22,000 — the sight of a recent resistance/support (R/S) flip — was now all that remained for bulls to hold onto.

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Fears over Silvergate, $8B hole at FTX, senators seek Binance’s numbers: Hodler’s Digest, Feb. 26 – March 4

Delay in Silvergate’s financials sparks fears over bankruptcy, FTX reports $8.6B deficit and Binance’s balance sheet sought by U.S. senators.

Fears over Silvergate, $8B hole at FTX, senators seek Binance’s numbers: Hodler’s Digest, Feb. 26 – March 4

Top Stories This Week

Silvergate stock plunges after delayed filing raises doubts over future

Silvergate made headlines this week after postponing the filing of its annual 10-K financial report, raising fears of an upcoming bankruptcy filing. The collapse of the cryptocurrency bank could prove costly for the rest of the industry. Within 24 hours after the announcement, Coinbase, Circle, Bitstamp, Galaxy Digital and Paxos confirmed that they will scale back their individual partnerships with Silvergate in some capacity. MicroStrategy and Tether joined a number of firms publicly denying any meaningful exposure to the bank. On March 2, Silvergate’s stock plummeted by over 50% on the NYSE.

FTX presentation shows ‘massive shortfall’ in firm’s assets

Bankrupt cryptocurrency exchange FTX has revealed a “massive shortfall” in its digital asset and fiat currency holdings, with billions worth of customer funds missing from both the exchange and its United States-based arm, FTX US. In total, FTX recorded an $8.6 billion deficit across all wallets and accounts while FTX US recorded a deficit of $116 million. Among the week’s headlines, former FTX engineering director Nishad Singh pleaded guilty to charges of wire fraud along with wire and commodities fraud conspiracy. Singh’s plea follows a number of Sam Bankman-Fried’s close associates reportedly agreeing to cooperate with U.S. prosecutors in recent months.

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Bitcoin gets physical: Art or digital heresy?


From Director of the United States Mint to the Very First Bitcoin IRA Customer

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What is the time value of money (TVM)?

Understanding the time value of money is essential for making sound financial decisions and maximizing returns on investment.

Bitcoin price would retest $25K without Silvergate saga — analysis

Bitcoin (BTC) stayed lower into the weekend as ongoing problems at Silvergate bank pressured markets.

BTC/USD 1-day candle chart (Bitstamp). Source: TradingView

Bad news holds Bitcoin back

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD lingering at around $22,350 on March 4.

The pair had managed to avoid further losses after the initial shock around Silvergate wiped 5% off the spot price in minutes. 

With United States equities delivering a strong finish to the week, Bitcoin and altcoins were unable to capitalize on what traders argued would normally be an opportunity for gains.

“Most global equity indices have now printed higher lows,” popular commentator Tedtalksmacro wrote in part of an update overnight.

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Binance launches anti-scam campaign after Hong Kong pilot run

The new campaign features a withdrawal warning message that attempts to prevent users from sending their crypto to scammers.

Uniswap wants to launch mobile wallet but Apple won’t green-light it’s launch

Despite having its first build approved in October, Uniswap Labs is facing issues with Apple's App Store regarding its mobile wallet.

Total crypto market cap takes a hit amid Silvergate Bank crisis

Cryptocurrency markets experienced a relatively calm month in February as the total market capitalization gained 4% in the period. However, the fear of regulatory pressure appears to be having an impact on volatility in March.

Bulls will undoubtedly miss the technical pattern that has been guiding the total crypto market capitalization upward for the past 48 days. Unfortunately, not all trends last forever, and the 6.3% price correction on March 2 was enough to break below the ascending channel support level.

Total crypto market cap in USD, 12-hour. Source: TradingView

As displayed above, the ascending channel initiated in mid-January saw its $1.025-trillion market cap floor ruptured after Silvergate Bank, a major player in crypto on- and off-ramping, saw its stock plunge by 57.7% at the New York Stock Exchange on March 2. Silvergate announced “additional losses” and suboptimal capitalization, potentially triggering a bank run that could lead to the situation spiraling out of control.

Silvergate provides financial infrastructure services to some of the world’s largest cryptocurrency exchanges, institutional investors and mining companies. Consequently, clients were incentivized to seek alternative solutions or sell their positions to reduce exposure in the crypto sector.

On March 2, the bankrupt cryptocurrency exchange FTX revealed a “massive shortfall” in its digital asset and fiat currency holdings, contrary to the previous estimate that $5 billion could be recovered in cash and liquid crypto positions. On Feb. 28, former FTX engineering director Nishad Singh pleaded guilty to charges of wire fraud along with wire and commodities fraud conspiracy.

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Bitcoin price stumbles amid investors’ aversion to risk assets, but there is a silver lining

The U.S. stock market approaches a crucial turning point as uncertainty over inflation rises after hotter-than-expected economic data released in February. Despite mounting investor worries, the economy is showing signs of resilience that could protect against a significant downside move. 

The escalating risk-off sentiment in the market is also creating volatility for Bitcoin (BTC). The leading crypto asset, which has had a strong correlation with the U.S. stock market, moved oppositely to the stock market in February. The correction between BTC and Nasdaq turned negative for the first time in two years. However, with the crypto bulls pausing at the $25,200 level, the risks of a downturn alongside stocks are increasing.

While there’s certainly a reason to maintain caution until the release of new economic data and the United States Federal Reserve meeting in March, some indicators suggest that the worst could still be over in terms of new market lows.

Inflation remains sticky

The biggest worries of the current bear cycle, which began in 2022, have been decade-high inflation. In January, the Consumer Price Inflation (CPI) level came in hotter than expected, with a 0.2% increase versus the previous month.

There are some additional signs that inflation may remain sticky. The housing sector inflation, which commands more than 40% of the weightage in CPI calculation, has shown no sign of a downturn.

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Bitcoin price settles at $22.4K as daily RSI retraces 2023 bull run

Bitcoin (BTC) traded around $22,400 at the March 3 Wall Street open as analysts remained divided over the odds of a recovery.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Hopes for an inverse “Bart Simpson” on BTC

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading flat after an earlier flash crash saw $1,000 shaved off in minutes.

As Cointelegraph reported, concerns over the fate of Silvergate Bank exacerbated existing market cold feet to spark a margin call cascade to $22,000.

At the time of writing, only a modest comeback had taken place, while opinions diverged as to how short-term price action would play out. 

“Locked in some profit here on my short at $23,200 and moved my stop loss into profit so it’s risk free,” a risk-off Crypto Tony told Twitter followers.

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ConsenSys zkEVM set for public testnet to deliver secure settlements on Ethereum

ConsenSys will release its zkEVM rollup to its public testnet on March 28, paving the way for an eventual mainnet integration later in 2023.