Turkey is advancing its cryptocurrency regulations with new rules for crypto asset service providers (CASPs).

On March 13, Turkey’s Capital Markets Board (CMB) published two regulatory documents regarding the licensing and operations of CASPs, including crypto exchanges, custodians and wallet service providers.

The framework grants the CMB full oversight of crypto platforms, ensuring compliance with national and international standards.

An excerpt from the title page of the CASP regulation document by the CMB. Source: Official Gazette

It also sets standards and requirements for establishing and providing crypto asset services in Turkey, covering establishment capital, history of executives, shareholder rules and others.

Minimum capital requirements for CASPs

Under the framework, the minimum capital requirement for exchanges is $4.1 million, while custodians are required to have at least $13.7 million, international attorney Burcak Ünsal told Cointelegraph.

“Fixed assets, receivables, available for sale financial assets are excluded from the minimum capital requirement,” he noted.

Additionally, CASPs will be required to invest in compliance infrastructure and establish dedicated risk management teams to identify and manage a range of risks. The providers must also establish a price monitoring system to alert suspicious trading activity.

Turkish CASPs must adhere to stringent reporting requirements, providing the CMB with timely information about their operations.

The new framework also further strengthens Turkey’s crypto Anti-Money Laundering (AML) standards, requiring CASPs to record significant data sets of transaction information, including canceled and unexecuted transactions.

An excerpt from CMB’s CASP regulation document (translated by Google). Source: Official Gazette

Turkey previously introduced crypto AML regulations in December 2024, requiring users to share identifying information with CASPs for transactions of more than 15,000 Turkish liras ($409).

Derivative crypto transactions are prohibited

According to Ünsal, the CMB’s framework also prohibits derivative transactions with crypto.

On the other hand, exchanges are entitled to launch initial coin offerings provided that they review the relevant smart contracts and ensure listing criteria.

“The crypto regulations are mute about how security tokens are defined. However, the issuance of security tokens is not prohibited,” the attorney noted. “Buying goods and services with crypto in Turkiye remains prohibited due to Central Bank regulations,” he added.

According to the lawyer, the regulations have different grace periods to enter into force, with most of them entering into force on June 30, 2025, and by the end of the year at the latest.

According to the document, Turkey’s new crypto regulations align with global standards and follow regulatory approaches set by Europe’s Markets in Crypto-Assets Regulation (MiCA) and the US Securities and Exchange Commission.

Magazine: How crypto laws are changing across the world in 2025

Turkey is advancing its cryptocurrency regulations with new rules for crypto asset service providers (CASPs).

On March 13, the Capital Markets Board (CMB) of Turkey published two regulatory documents related to the licensing and operations of CASPs, including crypto exchanges, custodians and wallet service providers.

The framework grants the CMB full oversight of crypto platforms, ensuring compliance with national and international standards.

An excerpt from the title page of the CASP regulation document by the CMB. Source: Official Gazette

It also sets standards and requirements for establishing and providing crypto asset services in Turkey, such as establishment capital, history of executives, shareholder rules and others.

Stricter requirements for CASPs

Under the framework, CASPs will be required to invest in compliance infrastructure and establish dedicated risk management teams to identify and manage a range of risks. The providers will also have to establish a price monitoring system to alert suspicious trading activity.

Turkish CASPs will also have to adhere to stringent reporting requirements, providing the CMB with timely information about their operations.

Additionally, the new framework further strengthens Turkey’s crypto Anti-Money Laundering (AML) standards, requesting CASPs to record significant data sets of transaction information, including canceled and unexecuted transactions.

An excerpt from CMB’s CASP regulation document (translated by Google). Source: Official Gazette

Turkey previously introduced crypto AML regulations in December 2024, requiring users to share identifying information with CASPs for transactions of more than 15,000 Turkish liras ($409).

According to the document, Turkey’s new crypto regulations align with global standards and follow regulatory approaches set by Europe’s Markets in Crypto-Assets Regulation (MiCA) and the US Securities and Exchange Commission.

Magazine: How crypto laws are changing across the world in 2025

Turkey is advancing its cryptocurrency regulations with new rules for crypto asset service providers (CASPs).

On March 13, the Capital Markets Board (CMB) of Turkey published two regulatory documents related to the licensing and operations of CASPs, including crypto exchanges, custodians and wallet service providers.

The framework grants the CMB full oversight of crypto platforms, ensuring compliance with national and international standards.

An excerpt from the title page of the CASP regulation document by the CMB. Source: Official Gazette

It also sets standards and requirements for establishing and providing crypto asset services in Turkey, such as establishment capital, history of executives, shareholder rules and others.

Stricter requirements for CASPs

Under the framework, CASPs will be required to invest in compliance infrastructure and establish dedicated risk management teams to identify and manage a range of risks. The providers will also have to establish a price monitoring system to alert suspicious trading activity.

Turkish CASPs will also have to adhere to stringent reporting requirements, providing the CMB with timely information about their operations.

Additionally, the new framework further strengthens Turkey’s crypto Anti-Money Laundering (AML) standards, requesting CASPs to record significant data sets of transaction information, including canceled and unexecuted transactions.

An excerpt from CMB’s CASP regulation document (translated by Google). Source: Official Gazette

Turkey previously introduced crypto AML regulations in December 2024, requiring users to share identifying information with CASPs for transactions of more than 15,000 Turkish liras ($409).

According to the document, Turkey’s new crypto regulations align with global standards and follow regulatory approaches set by Europe’s Markets in Crypto-Assets Regulation (MiCA) and the US Securities and Exchange Commission.

Magazine: How crypto laws are changing across the world in 2025

Bybit CEO Ben Zhou commented on a recent $4 million loss suffered by decentralized exchange (DEX) Hyperliquid due to an Ether whale’s high-leverage trade, noting that centralized exchanges (CEXs) face similar challenges.

On March 12, a crypto investor walked away with $1.8 million and forced the Hyperliquidity Pool (HLP) to bear a $4 million loss after a trade that used leverage on the Hyperliquid decentralized exchange (DEX). 

The trader used about 50x leverage to turn $10 million into a $270 million Ether (ETH) long position. However, the trader couldn’t exit without tanking their own position. Instead, they withdrew collateral, offloading assets without triggering a self-inflicted price drop, leaving Hyperliquid to cover the losses.

Smart contract auditor Three Sigma said the trade was a “brutal game of liquidity mechanics,” not a bug or an exploit. Hyperliquid also clarified that this was not a protocol exploit or a hack. 

Source: Hyperliquid

Hyperliquid lowers leverage trading for BTC and ETH

In response to the trade, Hyperliquid lowered its Bitcoin (BTC) leverage to 40x and its ETH leverage allowance to 25x. This increases the maintenance margin requirements for larger positions on the DEX. “This will provide a better buffer for backstop liquidations of larger positions,” Hyperliquid stated. 

In an X post, the Bybit CEO commented on the trade, saying that CEXs are also subjected to the same situation. Zhou said their liquidation engine takes over whale positions when they get liquidated. While lowering the leverage may be an effective solution, Zhou said this could be bad for business: 

“I see that HP has already lowered their overall leverage; that’s one way to do it and probably the most effective one, however, this will hurt business as users would want higher leverage.”

Zhou suggested a more dynamic risk limit mechanism that reduces the overall leverage as the position grows. The executive said that in a centralized platform, the whale would go down to a leverage of 1.5x with the huge amount of open positions. Despite this, the executive recognized that users could still use multiple accounts to achieve the same results.

The Bybit CEO added that even the lowered leverage capabilities could still be “abused” unless the DEX implements risk management measures such as surveillance and monitoring to spot “market manipulators” on the same level as a CEX. 

Related: Crypto trader gets sandwich attacked in stablecoin swap, loses $215K

Hyperliquid sees $166 million net outflow

Following the liquidation event of the ETH whale and the losses the HLP Vault suffered, the protocol experienced a massive outflow of its assets under management. Dune Analytics data shows that Hyperliquid had a net outflow of $166 million on March 12, the same day as the trade. 

Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why

Bybit CEO Ben Zhou commented on a recent $4 million loss suffered by decentralized exchange (DEX) Hyperliquid due to an Ether whale’s high-leverage trade, noting that centralized exchanges (CEXs) face similar challenges.

On March 12, a crypto investor walked away with $1.8 million and forced the Hyperliquidity Pool (HLP) to bear a $4 million loss after a trade that used leverage on the Hyperliquid decentralized exchange (DEX). 

The trader used about 50x leverage to turn $10 million into a $270 million Ether (ETH) long position. However, the trader couldn’t exit without tanking their own position. Instead, they withdrew collateral, offloading assets without triggering a self-inflicted price drop, leaving Hyperliquid to cover the losses.

Smart contract auditor Three Sigma said the trade was a “brutal game of liquidity mechanics,” not a bug or an exploit. Hyperliquid also clarified that this was not a protocol exploit or a hack. 

Source: Hyperliquid

Hyperliquid lowers leverage trading for BTC and ETH

In response to the trade, Hyperliquid lowered its Bitcoin (BTC) leverage to 40x and its ETH leverage allowance to 25x. This increases the maintenance margin requirements for larger positions on the DEX. “This will provide a better buffer for backstop liquidations of larger positions,” Hyperliquid stated. 

In an X post, the Bybit CEO commented on the trade, saying that CEXs are also subjected to the same situation. Zhou said their liquidation engine takes over whale positions when they get liquidated. While lowering the leverage may be an effective solution, Zhou said this could be bad for business: 

“I see that HP has already lowered their overall leverage; that’s one way to do it and probably the most effective one, however, this will hurt business as users would want higher leverage.”

Zhou suggested a more dynamic risk limit mechanism that reduces the overall leverage as the position grows. The executive said that in a centralized platform, the whale would go down to a leverage of 1.5x with the huge amount of open positions. Despite this, the executive recognized that users could still use multiple accounts to achieve the same results.

The Bybit CEO added that even the lowered leverage capabilities could still be “abused” unless the DEX implements risk management measures such as surveillance and monitoring to spot “market manipulators” on the same level as a CEX. 

Related: Crypto trader gets sandwich attacked in stablecoin swap, loses $215K

Hyperliquid sees $166M net outflow

Following the liquidation event of the ETH whale and the losses the HLP Vault suffered, the protocol experienced a massive outflow of its assets under management. Dune Analytics data shows that Hyperliquid had a net outflow of $166 million on March 12, the same day as the trade. 

Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why

European consumers have shown minimal interest in adopting a central bank digital currency (CBDC), raising concerns for the European Central Bank (ECB) as it prepares for a potential rollout of the digital euro.

An ECB working paper on “Consumer attitudes towards a central bank digital currency,” which surveyed about 19,000 respondents across 11 euro-area countries, highlighted significant communication challenges that are discouraging European households from adopting the digital euro. 

When asked to hypothetically allocate 10,000 euros (roughly $10,800) across various assets, Europeans allocated only a small portion to the digital euro, having little impact on traditional liquid assets like cash, current accounts or savings accounts.

Reasons for not adopting a digital euro for retail payments. Source: European Central Bank

According to the March 12 ECB working paper, Europeans have a strong preference for existing payment methods and see no real benefit in a new type of payment system amid myriads of offline and online alternatives:

“This finding also suggests that convincing some users of the value added of a CBDC might pose a challenge for policymakers, and more research will certainly be needed in this area.”

The study suggested that while a digital euro could be introduced with minimal disruption to financial stability, its adoption faces significant hurdles due to consumer habits. 

Additionally, it stressed the importance of targeted communication to address persistent consumer reluctance toward a digital euro.

Post-treatment attention checks conducted on European respondents. Source: ECB

The ECB paper found that European consumers were receptive to video-based education and training and concluded that educating the masses with CBDC-related video information could help with the widespread adoption of the digital euro:

“We find evidence that consumers who are shown a short video providing concise and clear communication about the key features of the digital euro are substantially more likely to update their beliefs about this new form of payment, which, in turn, increases their immediate likelihood of adopting it compared to an untreated control group.”

Related: European lawmakers silent on US Bitcoin reserve amid digital euro push

The study’s release comes as US lawmakers intensify their opposition to CBDCs. Speaking at the House Financial Services Committee hearing on March 11, Representative Tom Emmer said Congress should “prioritize pro-stablecoin legislation alongside anti-CBDC legislation.”

Emmer speaks during the House Financial Services Committee Hearing on CBDCs. Source: emmer.house.gov

Emmer said, “CBDC technology is inherently un-American” and unelected officials should not be allowed to issue it. Emmer also reintroduced the CBDC Anti-Surveillance State Act, which would prevent future US administrations from launching CBDCs.

Meanwhile, Deutsche Börse CEO Stephan Leithner recently called for the establishment of a permanent digital euro, among other reforms, to strengthen the region’s financial autonomy.

Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why

Ether (ETH) fell 13% between March 8 and March 11 as investors moved to short-term fixed-income and cash positions, seeking safety amid a global tariff war and rising fears of an economic downturn.

ETH price needs 29% gains to reclaim $2.5K

Market concerns escalated after the United States responded to Canada’s electricity surcharge with retaliatory measures.

S&P 500 futures (left, magenta) vs. Ether/USD (blue). Source: TradingView/Cointelegraph

Typically, traders tend to overreact, increasing the likelihood that Ether will rebound faster than other assets once market sentiment improves. While some argue that risk assets are driven by inflation and economic growth data, others believe gains depend on stimulus measures and monetary expansion.

Regardless of the catalyst for the next bull run, Ether price must climb 29% from its current $1,940 level to reclaim $2,500. This move will likely require increased demand from leveraged buyers, whose activity is now at its lowest point in five months.

ETH 2-month futures annualized premium. Source: Laevitas.ch/Cointelegraph

Traders want higher prices to compensate for longer settlement periods, making a 5% to 10% annualized premium (basis rate) expected in neutral markets. When rates fall below this range—such as the current 4.5%—it signals weak bullish conviction.

Excessive optimism played a role in Ether’s recent correction, as $235 million in leveraged long positions were liquidated between March 10 and March 11.

The panic selling drove ETH to a low of $1,744, its lowest level since October 2023. However, several indicators suggest a potential recovery, as ETH derivatives and onchain metrics show resilience.

Ethereum L2 network grows

Ether is trading 60% below its $4,868 all-time high from November 2021. This decline is largely due to increased competition in the smart contract sector and waning demand for applications such as non-fungible tokens (NFTs), gaming, collectibles, metaverse projects, social networks, and Web3 infrastructure.

However, this perspective overlooks a key factor. In late 2021, the average transaction fee exceeded $50, while activity on Ethereum’s layer-2 ecosystem was 97% lower than it is today.

For context, a token swap on Ethereum’s base layer cost $1.70 on March 11 despite the number of daily average operations per second growing, highlighting notable progress in network efficiency.

Ethereum layer-2 daily average operations per second. Source: L2beat

Even if bots generate 80% of layer-2 transactions, the remaining 20% of activity on Base, Arbitrum, Optimism, ZKsync, and Blast is still roughly three times higher than Ethereum’s base layer. However, critics have a valid argument: despite the surge in network activity, validators are earning significantly less compared to late 2021.

Ethereum regains DEX top-spot, TVL grows

Ethereum has reinforced its position as the second-most popular option for institutional investors in traditional finance, supported by $8.9 billion in spot exchange-traded funds (ETFs).

Meanwhile, competitors such as Solana still await regulatory approval for similar ETF products. Even if they gain approval, they cannot match the first-mover advantage of the Grayscale Ethereum Trust, which began public trading on over-the-counter markets in June 2019.

Moreover, Ethereum smart contract deposits, measured by total value locked (TVL), reached their highest level since July 2022 in ETH terms on March 11, marking a 10% increase over the past two weeks.

Related: The strategic crypto reserve will fuel ecosystem growth

Ethereum network TVL, ETH. Source: DefiLlama

At 24 million ETH, Ethereum’s TVL has been driven by the growth of liquid staking, lending, yield farming, and real-world asset tokenization. The network recently reclaimed its leading position in decentralized exchange volumes, reaching $20.5 billion over seven days and surpassing Solana’s $13.9 billion, according to DefiLlama data.

This provided a bullish outlook for ETH’s price, driven by layer-2 transactions nearing all-time highs, reclaiming of the top spot in DEX volume, and rising TVL deposits.

Ultimately, Ether’s trend reversal remains highly dependent on macroeconomic improvements, but once stabilized, ETH is well-positioned to regain $2,500 as a key support level in the coming weeks.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Key takeawaysBuying Bitcoin with a credit card offers nearly instant transactions and convenience, but it costs you higher fees and potential blocked transactions from card providers.Centralized exchanges like Coinbase and Kraken are the easiest reputable platforms on which to buy Bitcoin with credit cards.To protect yourself during transactions, only use trusted exchanges and use security protocols like 2FA.Credit card purchases can offer some extra protection against fraud compared to other payment methods, but purchase limits can be more restrictive

Looking for the quickest and easiest way to purchase Bitcoin? Buying Bitcoin with a credit card is almost instant on many platforms. Before you start your digital shopping spree, you should take a few minutes to learn how to buy Bitcoin (BTC) with a credit card in the most efficient way. 

However, if you’re not careful, you could end up damaging your credit score and even getting scammed out of your investments. 

Below, you will find a step-by-step process for purchasing Bitcoin on a reputable exchange, plus learn how to protect yourself from unnecessary financial distress along the way. 

Why use a credit card for Bitcoin purchases?

Buying Bitcoin via a credit card is almost instant on major exchanges. It can be performed easily on a mobile device or web, allowing buyers and traders to quickly take advantage of market moves.

Often, the cryptocurrency exchanges that accept credit cards are regulated and will use high levels of encryption. These exchanges will require Know Your Customer (KYC) and Anti-Money Laundering (AML) checks for security and compliance.  

Purchasing Bitcoin with a credit card is a beginner-friendly option for new cryptocurrency investors already familiar with using their credit cards for online transactions. There may be some protection from the credit card company if something goes awry.

Will buying Bitcoin with a credit card affect my credit score?

Every purchasing decision you make with your credit card will have an effect on your credit score, either positive or negative. Crypto is likely to do more harm than good to a credit score. Here’s why:

Particularly with large Bitcoin purchases, it will increase your credit utilization ratio. Banks don’t reflect kindly to high credit utilization above 50% of a credit limit.Traditional banks and card issuers classify crypto purchases as cash advances and risky transactions. Payment history still remains the key factor in your credit score. Credit issuers may well frown upon regular Bitcoin purchases.

Did you know? Over 85% of retailers across the world accept credit cards, while only 25% of online retailers accept crypto payments. Credit cards are still more widely accepted; however, crypto acceptance is growing quickly. 

Where to buy Bitcoin (BTC) with a credit card

You could buy Bitcoin with credit cards on centralized crypto exchanges (CEXs). Well-known global platforms like Coinbase, Kraken and Binance all enable their users to buy Bitcoin with a credit card. Adding to this, you can use instant buy features to purchase Bitcoin with a credit card without depositing fiat currency into your account first. 

However, the regional availability for CEXs varies from platform to platform. This is usually dependent on local regulations and compliance. So, before picking a platform, you should check if it operates in your location and with your card issuer.

What if a credit card transaction is declined?

Many traditional banks actively block crypto-related transactions, which means you might find your credit card declined when attempting to purchase Bitcoin or other cryptocurrencies. This is often due to the bank’s policy against facilitating cryptocurrency transactions. 

However, there is good news: Modern fintech banking alternatives, such as digital banks and crypto-friendly payment platforms, are increasingly supportive of cryptocurrency purchases, offering a smoother transaction experience.

Aside from bank restrictions, other reasons for declined crypto transactions can include fraud prevention measures, where the transaction is flagged as suspicious. Additionally, exceeding your credit card’s spending limit or encountering issues with your card’s authorization settings can also lead to a declined transaction.

Is there a limit to how much Bitcoin can be bought with a credit card?

The purchase limit for Bitcoin varies for each individual and is influenced by two main factors. First, the spending limit on your credit card, which is determined by your bank or card issuer. Second, the crypto exchange you’re using will impose its own purchase limits. 

For first-time buyers, these limits can be relatively low — often just a few hundred dollars. However, depending on the exchange and your account history, these limits can typically be increased to $5,000 or more per week if needed.

You should also be aware of the credit card Bitcoin purchase fees that can include: 

Exchange fees: Typically 3%–5% for credit card purchases (this is higher than other methods, which can be as low as 0.1%).Card issuer fees: Some treat crypto purchases as cash advances.Foreign transaction fees: It may apply to fiat foreign currency transactions. 

Did you know? 8%–10% of the adult global population is thought to own cryptocurrency of some form in 2025. A huge jump from 1%–2% in 2018, highlighting the increasing adoption rate.

How to buy Bitcoin on CEXs with a credit card

Buying Bitcoin with a credit card is one of the quickest and easiest ways to make a purchase. Once you have a verified exchange account, you can make the transaction almost instantly. 

Below is a step-by-step guide on how to buy Bitcoin with a Visa or Mastercard on Coinbase. Steps on other exchanges may vary, but the process is generally very similar. 

Step 1: Create a verified account

Follow the user-friendly sign-up process. Ensure to activate 2-factor authentication (2FA) to double-lock your account.  

During the sign-up process, you’ll need to verify your identity. Crypto regulations in many countries require exchanges to comply with KYC and AML regulations. To pass these checks, you must upload a valid government ID (passport, driving license or any other acceptable ID card).

Step 2: Link your credit card

Once your account is accessible, use the right-hand side panel to add your payment method. This will give you the option to link a credit card. Add your card details and click  “Add Card.”  

Step 3: Buy Bitcoin

Using the right-hand side panel instant buy feature, select Bitcoin and the amount you’d like to purchase. The exchange buy limit will also be shown next to your credit card payment method. This is usually limited to 10,000 British pounds daily on Coinbase. When ready, click “Buy Now.” Confirm the purchase on your banking app. Once approved, the Bitcoin will be added to your exchange account and fiat debited from your credit card. 

How to protect yourself from fraud when buying Bitcoin with a credit card

The irreversible nature of Bitcoin means security and fraud prevention should be at the top of your list. It is your responsibility to protect your financial information and crypto from being compromised. To stay safe when buying Bitcoin, you should:

Only use a reputable and regulated exchange with a strong security record.Use core security features, including unique passwords and 2FA.Watch out for phishing attempts. Double-check URLs, and don’t click email links or unsolicited messages.Consider moving Bitcoin into a self-custody hardware wallet to protect against exchange hacks and fraud. Is it safe to buy BTC with a credit card?

It is generally considered that buying Bitcoin with a credit card is one of the safest methods. This is because it helps to protect your wider financial information, such as direct access to bank accounts.  

You can also benefit from fraud prevention and spending limits that credit card companies offer. So, if your card details or accounts fall into the wrong hands, you will have higher levels of protection. Plus, there is even some recourse to reverse payments and have fraudulent payments struck off. 

While it does offer added protection and convenience, purchases will come at a higher cost. Credit card companies typically charge higher fees for crypto transactions, and you may face restrictions on the size of Bitcoin purchases. 

Many exchanges impose lower purchase limits for credit card transactions, especially for first-time buyers, which could make it less appealing for larger investments. Despite these drawbacks, the extra protection and ease of use make it a convenient option for those new to the crypto space.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin must close the week above $89,000 to signal an end to the short-term downtrend, says a crypto analyst.

“The only way for Bitcoin to confirm that the bottom is actually in would be to close a weekly back above $89K,” crypto analyst Matthew Hyland said in a video posted to X on March 13.

Without $89,000 close, Bitcoin may head toward $69,000

Bitcoin (BTC) last traded at $89,000 on March 7, a level Hyland considers crucial since it was the support area where Bitcoin ultimately ended up “breaking down below.” After falling below $89,000, it dropped to $78,523 on March 11 before stabilizing in the low $80,000s.

With Bitcoin currently trading at $83,406, a move above $89,000 would liquidate approximately $1.60 billion in short positions, as per CoinGlass data.

Bitcoin is down 15.42% over the past month. Source: CoinMarketCap

If Bitcoin fails to close above it, Hyland warned the asset’s price could drop to between $74,000 to $69,000, a level Bitcoin hasn’t seen since November.

“It probably is likely at this point that going into the coming weeks or the coming months, Bitcoin will likely test this lower range at some point of support,” he said.

“If we do get a weekly close above this area, I think the low is in for Bitcoin, and we are not going down to this area,” he said. Hyland said that it typically leads to further upside when Bitcoin breaks above a resistance level.

Bitcoin demand in the US has declined

However, demand for Bitcoin in the US has been declining recently due to macroeconomic factors.

Bitcoin’s demand fell by 103,000 BTC last week compared to the previous week, “marking its fastest pace of contraction since July 2024,” according to CryptoQuant. 

Related: Bitcoin high-entry buyers are driving sell pressure, price may ‘floor’ at $70K

CryptoQuant said the recent decline in Bitcoin’s demand in the US was due to uncertainty around US inflation rates and US President Donald Trump’s imposed tariffs on Feb. 1. 

On March 7, Federal Reserve chair Jerome Powell reiterated that he was in no hurry to adjust interest rates.

Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin must close the week above $89,000 to signal an end to the short-term downtrend, says a crypto analyst.

“The only way for Bitcoin to confirm that the bottom is actually in would be to close a weekly back above $89K,” crypto analyst Matthew Hyland said in a video posted to X on March 13.

Without $89,000 close, Bitcoin may head toward $69,000

Bitcoin (BTC) last traded at $89,000 on March 7, a level Hyland considers crucial since it was the support area where Bitcoin ultimately ended up “breaking down below.” After falling below $89,000, it dropped to $78,523 on March 11 before stabilizing in the low $80,000s.

With Bitcoin currently trading at $83,406, a move above $89,000 would liquidate approximately $1.60 billion in short positions, as per CoinGlass data.

Bitcoin is down 15.42% over the past month. Source: CoinMarketCap

If Bitcoin fails to close above it, Hyland warned the asset’s price could drop to between $74,000 to $69,000, a level Bitcoin hasn’t seen since November.

“It probably is likely at this point that going into the coming weeks or the coming months, Bitcoin will likely test this lower range at some point of support,” he said.

“If we do get a weekly close above this area, I think the low is in for Bitcoin, and we are not going down to this area,” he said. Hyland said that it typically leads to further upside when Bitcoin breaks above a resistance level.

Bitcoin demand in the US has declined

However, demand for Bitcoin in the US has been declining recently due to macroeconomic factors.

Bitcoin’s demand fell by 103,000 BTC last week compared to the previous week, “marking its fastest pace of contraction since July 2024,” according to CryptoQuant. 

Related: Bitcoin high-entry buyers are driving sell pressure, price may ‘floor’ at $70K

CryptoQuant said the recent decline in Bitcoin’s demand in the US was due to uncertainty around US inflation rates and US President Donald Trump’s imposed tariffs on Feb. 1. 

On March 7, Federal Reserve chair Jerome Powell reiterated that he was in no hurry to adjust interest rates.

Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.