BTC Crashes to $66K, ETH Dips Below $2K as Middle East War Drags On: Weekly Recap

Cryptocurrency Market Overview Weekly Mar 27. Source: QuantifyCrypto

Market Cap: $2.360T | 24H Vol: $112B | BTC Dominance: 56%

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BTC: $66,400 (-5.4%) | ETH: $1,975 (-7%) | XRP: $1.33 (-7.8%)

This Week‘s Crypto Headlines You Can’t Miss

Fannie Mae Shockwave: Crypto-Backed Mortgages Coming to the US. One of the most significant news developments this week came from the behemoth in US mortgages, Better Home & Finance. A report from WSJ indicated that the company has partnered with Coinbase to allow home buyers to pledge BTC and USDC when getting a mortgage backed by Fannie Mae.

NYSE Parent Invests Another $600 Million in Polymarket as Prediction Market Volume Soars. The giant behind the New York Stock Exchange continues with its massive crypto-related investments, this time allocating another $600 million in Polymarket. Its total investment in the crypto-based prediction market has grown to $2 billion.

Analyst: Bitcoin Could Bottom at $46K as ‘Electric Cost’ Falls. Bitcoin has not bottomed out yet – this is what a popular analyst, Ted Pillows, asserted this week. By comparing the assets estimated “electric cost,” he determined that BTC might fall below $50,000 and down to $45,000 this cycle.

Gold Fails Safe Haven Test as Prices Plunge Amid War and Uncertainty. Although BTC has retraced in the past few days, its still slightly in the green since the war against Iran began. The same cannot be said about gold, whose price has plunged quite significantly since its all-time high in late January.

Post-Hack Pressure Pushes Balancer Labs to Wind Down Operations, Restructure Protocol. The popular DeFi protocol Balancer was hacked a few years back, and even though the entity behind it tried to restructure its operations, it announced earlier this week that it will be scaling down.

Saylor‘s Strategy Buys Over 1,000 BTC as Unrealized Losses Mount Up. After a few consecutive multi-billion-dollar BTC purchases, Saylor’s Strategy announced a more modest one this week. It spent $76.6 million to acquire an additional 1,031 BTC, and its total stash has grown to over 762,000 units.

Charts

This week, we have a chart analysis of Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid – click here for the complete price analysis.

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