Daily Crypto Signals: Bitcoin Bears Down to $67,000 as XRP Ledger Surges
Bitcoin struggles below $70,000 amid geopolitical headwinds and four-year cycle debate, while XRP Ledger sees record on-chain activity and
Quick overview
- Bitcoin struggles to maintain its value below $70,000 amid geopolitical tensions and a debate over its four-year cycle.
- The S&P 500's drop below its 200-day moving average has contributed to a risk-averse sentiment in the cryptocurrency market.
- XRP Ledger saw a surge in on-chain activity, recovering over $1 million in unclaimed escrow funds, indicating ecosystem growth.
- Analysts warn that Bitcoin's price could drop significantly if equity markets continue to decline, while some predict a potential bull run by late 2026.
Bitcoin BTC/USD struggles below $70,000 amid geopolitical headwinds and four-year cycle debate, while XRP Ledger sees record on-chain activity and over $1 million in recovered escrow funds — here’s what moved crypto markets.
Crypto Market Developments
The week was volatile for the whole cryptocurrency market as risk-averse sentiment moved from equities markets to digital assets. For the first time in ten months, the S&P 500 closed below its 200-day moving average, extending its decline. This widely monitored signal alarmed investors across all asset classes. The protracted turmoil in Iran entered its third week, adding to the strain.
As traders fled riskier assets, Bitcoin fell below $69,000 on Saturday. Regarding regulations, a Nevada judge issued a temporary restraining order against prediction market platform Kalshi, while Fidelity Investments encouraged the SEC’s Crypto Task Force to develop a more transparent framework for broker-dealers handling cryptocurrency. After an attacker created 80 million unbacked tokens and sold them through DeFi liquidity pools, Resolv Labs’ stablecoin USR experienced a serious vulnerability in DeFi, plunging 86% off its $1 peg.
Bitcoin Dips to $67,000 on Monday
Veteran investor Anthony Scaramucci claims that Bitcoin is still experiencing a “garden variety” bear market correction, which he directly links to the traditional four-year cycle. The managing partner of SkyBridge contended on the Wolf of All Streets podcast that long-term Bitcoin holders created selling pressure at the psychologically significant $100,000 level, which led to a dramatic decline from the cryptocurrency’s all-time high of about $126,000 to its current range below $70,000. While acknowledging that institutional inflows and ETF demand have “muted” the cycle’s usual volatility, Scaramucci maintains that the cycle itself is still in place, partially due to seasoned market players’ self-fulfilling beliefs. He predicts that market activity will remain erratic for the majority of 2026, with a fresh bull run anticipated in Q4.
It doesn’t help that the photo is enlarged. Because of its ongoing positive association with the S&P 500, several analysts have warned that if equity markets continue to collapse, Bitcoin’s price might drop by 50%. Risk-off behavior among institutional participants has been reinforced by an additional layer of uncertainty brought about by the geopolitical overhang from the Iran conflict. However, Scaramucci makes a historical analogy to the early months of 2023, when Bitcoin reached its lowest point following the FTX collapse and discreetly started its subsequent rise amid a time of general indifference, implying that the roots of the next bull market might already be sprouting beneath the surface.
XRP Ledger Recovers Over 750,000 XRP
This week, XRP’s XRP/USD underlying network presented a very different picture, with on-chain activity suggesting real ecosystem expansion. After conducting a thorough scan of the entire blockchain, Adam, the founder of First Ledger, a decentralized exchange based on the XRP Ledger, recovered 750,218 XRP worth slightly more than $1 million in expired, unclaimed escrows. Many of these monies had been locked for years by regular members of the community who either forgot about them or were unable to complete the necessary EscrowFinish transaction to unlock them. The numbers were verified by XRPL validator Vet, who pointed out that the majority belonged to retail holders rather than institutions. In order to identify qualifying escrows before they permanently expire, First Ledger now conducts routine scans.
Broader network measurements are showing indications of growth outside the escrow narrative. While AccountSet transactions, which modify account settings without transferring funds, reached a record single-day total of 114,690 on March 20, deposits into XRP Ledger’s automated market makers reached an all-time high of 70,735 on February 28. Error warnings related to inadequate XRP reserves surged to 370,000 on March 18, the highest level in three years, which may be the most significant sign. This increase is indicative of a wave of new users trying to make offers on the network without fulfilling minimum balance criteria, which is a typical indication of large-scale onboarding of new users. At the time of writing, XRP was trading at about $1.39.
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