The bill proposes exempting dollar-pegged stablecoins from gains or losses if 
the tokens remain tightly pegged to the underlying fiat currency.

US lawmakers publish crypto tax proposal without Bitcoin tax exemption

The crypto market is consolidating. Bitcoin and Ethereum have traded within 
the same range for more than 50 days. And in the third week of March, the 
derivatives market made its first significant statement about what comes next. 
Related Reading: Unknown Wallet Buys $107 Million In Ethereum – Purchase 
Pattern Points To Bitmine A CryptoQuant analysis tracking perpetual futures 
activity has identified a meaningful acceleration in open interest: on March 
16, combined Bitcoin and Ethereum OI climbed to approximately $30 billion — 
the highest reading since late January, and a level that was not reached 
gradually but in a single week of concentrated positioning. Bitcoin OI reached 
$23 billion. Ethereum approached $16 billion. Both moved in the same 
direction, at the same time, during the same price rally. That synchronicity 
matters. When open interest builds across two major assets simultaneously 
during a relief rally, it does not reflect organic spot demand — it reflects 
traders opening leveraged positions in anticipation of a directional move. The 
capital is not buying Bitcoin and Ethereum. It is betting on them. Fifty days 
of consolidation have a way of building pressure. The $30 billion in open 
interest now sitting in perpetual futures is the market&#8217;s way of declaring 
that the range will not last forever — and that when it breaks, the move will 
be amplified. When Crypto Leverage Moves, It Goes to Binance First. The 
CryptoQuant report is precise about where the $30 billion in open interest is 
actually sitting. Binance absorbed the largest share of the inflow by a 
significant margin: BTC open interest on the exchange rose by $829 million, 
while ETH open interest climbed by approximately $1.6 billion — a combined 
$2.4 billion in new leveraged exposure flowing into a single venue during a 
single week. Bybit and Gate.io recorded meaningful gains as well, but the 
heatmap data leaves no ambiguity about the hierarchy. That concentration is 
not coincidental. It is structural. During periods of strong price momentum, 
capital does not distribute evenly across the derivatives landscape — it 
gravitates toward the deepest, most liquid venues where large positions can be 
opened and closed without slippage. Binance is that venue. It has been for 
every significant derivatives expansion in recent memory, and the March rally 
was no exception. What the concentration reveals is as important as the size. 
When $2.4 billion in new open interest flows into a single exchange in one 
week, the resulting positions are tightly clustered. Clustered positions 
create clustered liquidation levels. And clustered liquidation levels mean 
that when the market moves against those positions, it does not move 
gradually. The leverage is on Binance. The range is still intact. Those two 
facts belong in the same sentence. Related Reading: $2.3 Billion Ethereum Has 
Left OKX And Binance This Quarter: The Sell-Side Supply Is Thinning The Entire 
Market Has Given Back a Year of Gains The total crypto market cap stands at 
$2.31 trillion, down 0.21% on the week — a marginal move on a candle that 
opened at $2.32 trillion, reached $2.44 trillion, and has since retreated. 
That weekly high rejection at $2.44 trillion is the operative fact. The market 
attempted to reclaim lost ground and was turned back. The macro context is 
what makes the current level sobering. Total market cap peaked near $4.1 
trillion in late 2025 — the highest level in crypto&#8217;s history — and has 
retraced approximately 44% from that peak, erasing the entirety of the 2025 
bull run and returning to levels last traded in early 2024. This is not a 
correction within a bull market. It is a full cycle rollover. Related Reading: 
The Bitcoin Coinbase Discount Is Back: History Says That Is Worth Watching The 
weekly moving average configuration confirms the structural damage. Price has 
broken decisively below the 50-week MA, which has now turned lower from the 
$3.5 trillion region. The 100-week MA, the green line ascending through 
approximately $2.9 trillion, provided no meaningful support — price sliced 
through it and has not reclaimed it since. The 200-week MA continues its long- 
term ascent near $2.1 trillion and represents the last major structural 
support visible on this timeframe. The current level of $2.31 trillion is 
trading in the gap between the 200-week MA below and the 100-week MA above. 
That gap is the battleground. Reclaiming $2.9 trillion is the minimum 
requirement for any credible structural recovery argument. Until then, the 
chart describes a market in retreat, not consolidation. Featured image from 
ChatGPT, chart from TradingView.com

Crypto Market Open Interest Hits $30 Billion, Highest Since January: Leverage Returns To The Market

Judge blocks Trump administration from enforcing Anthropic blacklist, handing 
Claude maker an early win in its fight with the Pentagon.
The post Anthropic wins early court fight over Pentagon blacklist and Trump 
ban appeared first on Crypto Briefing.

Anthropic wins early court fight over Pentagon blacklist and Trump ban

The altcoin market suffered a sharp sell-off on Friday, with total 
capitalization dropping below $1 trillion for the first time in weeks. ETH and 
SOL Spearhead the Retreat The altcoin market endured a brutal session on 
Friday, March 27, as investors aggressively unwound positions in a frantic 
flight to liquidity. The safe haven narrative, which […]

Altcoins Tumble as Total Market Capitalization Falls Below $1 Trillion Mark

Bitcoin is heading into the weekend with broken near-term structure, elevated 
macro pressure, and a political catalyst that now sits close to the center of 
the market’s risk map. The technical setup has deteriorated in steps over the 
past two weeks. The macro backdrop has stayed tight as Treasury yields press 
higher and Middle East […]
The post Bitcoin price is heading for weekend collapse to $61k &#8211; will a social 
media post from Trump save it? appeared first on CryptoSlate.

Cryptocurrency price in USD