Today’s edition of the weekly recap covers multiple announcements from the U.S. Securities and Exchange Commission (SEC), Circle&#8217;s initial public offering and the fallout of President Trump’s tariffs. SEC to revisit guidance on digital assets, security laws SEC says &#8216;covered…

SEC revisits crypto rules, tariffs cause market downturn, Circle IPO uncertain | Weekly Recap

The European Securities and Markets Authority is sounding a fresh caution at 
the potential risks crypto could pose to financial markets. ESMA, the European 
Union&#8217;s securities watchdog, has once again touched on the issue of crypto 
regulation, warning that crypto-related risks…

ESMA warns crypto could pose risks to financial stability

Ether (ETH), the native token of Ethereum, is showing signs of bullish 
exhaustion after a steep 65% decline over the past three months. The pace of 
the downtrend and the oversold conditions shown by various ETH price metrics 
have investors wondering if a market bottom is approaching.
## ETH fractals point to a drop to $1,000
Ether&#8217;s current price action mirrors a familiar fractal pattern seen in 2018 
and 2022. In both instances, ETH price saw euphoric rallies that ended with 
sharp breakdowns and prolonged bear markets.
Each of these cycles shared the following key traits:
 * Higher price highs were accompanied by lower highs in the relative strength index, which is a classic sign of bearish divergence and weakening momentum.
_ETH/USD weekly price chart. Source: TradingView_
 * After the price peak (cycle tops in the chart above), ETH retraced heavily, often falling through key Fibonacci levels.
 * Cycle bottoms typically formed once the RSI dipped into oversold territory (below 30), with price stabilizing near historical Fibonacci zones.
The current setup resembles this structure.
In December 2024, Ether formed a higher high near $4,095, while the RSI made a 
lower high&#8211;mirroring the bearish divergence seen in previous tops. This 
divergence marked the beginning of a sharp correction, much like the patterns 
seen in 2018 and 2022.
Currently, ETH&#8217;s price has closed below the 1.0 Fibonacci retracement level at 
around $1,550. Meanwhile, its weekly RSI is still above the oversold threshold 
of 30, suggesting room for further declines, at least until the reading drops 
below 30.
_ETH/USD weekly RSI performance chart. Source: TradingView_
The fractal suggests Ethereum could be in the final leg of its decline, with 
the next potential price targets inside the $990 &#8211; $1,240 price range, 
aligning with the 0.618-0.786 Fibonacci retracement area.
_Source:__Mike McGlone_
 _**Related:**__**3 reasons Ethereum could turn a corner: Kain Warwick, X Hall 
of Flame**_
## Ethereum NUPL falls into &#8216;capitulation&#8217; &#8212; Another bottom indicator
Ethereum&#8217;s Net Unrealized Profit/Loss (NUPL) has entered the &#8220;capitulation&#8221; 
zone&#8211;an onchain phase where most investors are holding ETH at a loss. In 
previous cycles, similar moves into this zone occurred close to major market 
bottoms.
_Ethereum NUPL vs. price chart. Source: Glassnode_
In March 2020, the NUPL turned negative just before ETH rebounded sharply 
following the COVID-19 market crash. A similar pattern emerged in June 2022, 
when the metric fell into capitulation territory shortly before Ethereum 
established a bear market low of around $880.
Now that ETH is once again entering this zone, the current setup loosely 
echoes those prior bottoming phases&#8211;coinciding with key Fibonacci support 
levels near $1,000.
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.

Ethereum price data highlights $1,000 as the final bottom for ETH

Bitcoin Magazine 
How to Watch OPNEXT on Bitcoin Magazine’s Livestream
Tune in April 11th and 12th to watch the livestream of OPNEXT, a developer 
focused conference happening this weekend at Strategy HQ.
This post How to Watch OPNEXT on Bitcoin Magazine’s Livestream first appeared 
on Bitcoin Magazine and is written by William Foxley.

How to Watch OPNEXT on Bitcoin Magazine’s Livestream

The DOJ just killed its crypto crimes unit in a sweeping shift that signals 
America is going all-in on digital asset freedom and growth. Feds Kill off 
DOJ’s Crypto Team—Trump Resets Battlefield for Bitcoin Dominance The U.S. 
Department of Justice (DOJ) will no longer maintain a dedicated unit to 
investigate cryptocurrency-related offenses, according to a […]

DOJ Nukes Crypto Crime Unit as Trump Vows to End Regulation by Prosecution

Asset manager BlackRock is partnering with Anchorage Digital for crypto 
custody services, a move aimed at addressing the rising demand for digital 
assets from retail and institutional investors.
According to an April 8 announcement, BlackRock is the world&#8217;s largest 
investment firm, with $11.6 trillion in assets under management. The company 
ranks among the largest providers of crypto exchange-traded products (ETPs), 
with holdings totaling $45.3 billion in Bitcoin (BTC) and $1.7 billion in 
Ether (ETH), according to data from Arkham.
_BlackRock &#8216;s crypto holdings. Source: __Arkham Intelligence_
Anchorage is the only federally chartered crypto bank in the United States. 
Along with custody services, it will provide BlackRock access to digital 
assets staking and settlement. Anchorage currently supports BlackRock&#8217;s BUIDL 
fund &#8212; a $2 billion tokenized fund backed by US Treasurys and focused on 
real-world assets.
BlackRock relies on Coinbase for custody of the Bitcoin held in its iShares 
Bitcoin Trust ETF.
_**Related:**__**BlackRock &#8216;s BUIDL fund explained: Why it matters for crypto 
and TradFi**_
## Bitcoin ETFs have faced a turbulent path in 2025
Since its debut in January 2024, Bitcoin funds have attracted a cumulative $36 
billion in inflows. However, data from Sosovalue, which tracks ETF 
performance, shows that 2025 has been marked by sharp swings, with periods of 
strong inflows followed by significant outflows.
_Bitcoin ETFs daily inflow-outflows. Source:__Sosovalue_
Bitcoin funds are seen as some of the most successful ETF launches in history, 
with BlackRock&#8217;s iShares Bitcoin Trust ETF outperforming competitors and 
recording a net inflow of $39 billion, according to Sosovalue. The firm has 
since launched a crypto ETP in Europe.
_**Magazine:**__**X Hall of Flame: Bitcoin $500K prediction, spot Ether ETF 
&#8216;staking issue&#8217;&#8211; Thomas Fahrer**_