Judge James E. Boasberg blocked these subpoenas, considering that a “mountain 
of evidence” suggests their true purpose is to “harass Powell to pressure him 
to lower rates.” Jeanine Pirro, U.S. Attorney for Washington, D.C., stressed 
that the DOJ will appeal the judge’s decision, escalating the legal battle. 
Judge Quashes Federal Reserve Subpoenas, DOJ Announces Appeal […]

‘Zero Evidence:’ Judge Quashes Federal Reserve Subpoenas, DOJ Announces Appeal

Spot Bitcoin ETFs recorded strong inflows on March 13, adding fresh momentum 
to institutional demand as market analysts pointed to key resistance and 
support levels for BTC price. Data shared by Farside Investors shows that U.S. 
spot Bitcoin ETFs attracted…

Spot Bitcoin ETFs amass $180M inflows, will BTC price see a boost?

On-chain analytics firm Glassnode has highlighted how Bitcoin has only seen a 
relatively thin accumulation band form during the recent consolidation range. 
Bitcoin STH CBD Shows Accumulation Remains Thin In a new post on X, Glassnode 
has talked about the latest trend in the Bitcoin Cost Basis Distribution (CBD) 
of the short-term holders. The CBD here refers to an indicator that tells us 
about the amount of supply that was purchased at the various price levels 
visited by BTC in its history. Related Reading: Bitcoin Returns Mirror 
Late-2022 Levels Seen Before 67% Rally: Santiment The CBD of the short-term 
holders (STHs) specifically tracks this for the supply that was purchased 
within the past 155 days. The short time frame means that supply clusters on 
the indicator always thin out over time, whether by coins from them being 
moved at other price levels (thus regaining their cost basis there) or by 
maturing into the long-term holder (LTH) cohort, beyond the 155-day cutoff. 
Now, here is the chart shared by Glassnode that shows how the Bitcoin STH CBD 
has changed over the past year: As displayed in the above graph, the Bitcoin 
STH CBD gained a large supply cluster at the price lows seen back in November, 
indicating that a notable amount of fresh accumulation took place in response 
to the market crash. This dense supply zone then acted as a support cushion 
for the asset, helping stabilize it into a phase of consolidation. Eventually, 
though, the cryptocurrency&#8217;s bearish momentum returned and its price plummeted 
deep under the cluster. This implies that all tokens part of it have gone 
underwater. Besides the strong supply zone at the range&#8217;s lower end, the 
consolidation phase from November-January also resulted in some higher levels 
being filled out with supply. This accumulation wasn&#8217;t quite as strong as at 
the lows, but it still nonetheless showed that coins were actively changing 
hands. Recently, Bitcoin has stabilized into another phase of sideways 
movement, but from the chart, it&#8217;s apparent that this time there has neither 
been a strong dip buying response, nor a buildup of a significant supply 
cluster as the consolidation has gone on. That said, buying hasn&#8217;t been 
completely absent, with some supply starting to find cost basis inside the 
zone. &#8220;An accumulation cluster is forming in the $62k–$72k range,&#8221; noted 
Glassnode. &#8220;However, its intensity is modest relative to prior phases that 
preceded sustained expansions.&#8221; Related Reading: Bitcoin Recovery Requires STH 
Profitability Above 50%: Glassnode It now remains to be seen how the supply 
range will develop in the near future. For now, the foundation provided by it 
remains thin for a mid-term breakout, according to the analytics firm. BTC 
Price At the time of writing, Bitcoin is trading around $71,100, up nearly 5% 
over the past week. Featured image from Dall-E, chart from TradingView.com

Bitcoin Foundation For A Mid-Term Breakout Remains Thin, Cost Basis Data Shows

USDC’s market cap is approaching a record $80 billion, with one analyst 
linking the surge to capital flight and turmoil in Dubai’s real estate market.

USDC market cap nears record $80B amid ‘capital flight’ in UAE: Analyst

BlackRock digital assets head Robert Mitchnick said Bitcoin and Ethereum 
remain the only two cryptocurrencies attracting meaningful investor demand. 
This comes as the asset manager evaluates future ETF products. Speaking on 
CNBC following the launch of BlackRock&#8217;s ETHB staked ether…

Cryptocurrency price in SAR