Cryptocurrency market analysis [March 31]

Market Overview: Retreat of Geopolitical Risks and Crypto Rebound

Following positive signs toward a diplomatic resolution to the prolonged clash between the United States and Iran, there was a sense of relief across financial markets. Riding this momentum, the cryptocurrency market saw renewed buying interest, and Bitcoin (BTC) briefly surpassed the psychologically important level of 60,000- 7000 dollars on Monday.

Bitcoin Daily Chart

Looking at the last 24 hours, Bitcoin's rise remained below 1%, currently hovering around the $67,000 mark. Among major altcoins, Ethereum (ETH) and Solana (SOL) rose about 2%, with Ethereum at $2,050 and Solana at $84. Meanwhile, Ripple (XRP) showed no notable movement, trading around $1.33.

Ethereum Daily Chart

At the start of the week, Bitcoin held up compared with other risk assets; however, a notable change in the crypto market’s internal structure is that investors are focusing on “utility-driven” names and “tokenized (RWA) related” assets that represent real-world assets on the blockchain, which are being favored. In contrast, over-leveraged alternative coins and assets with high correlation to the stock market remain subdued, strengthening market selectivity.

As of the close on March 30, Bitcoin had gained +1.2% from the previous day, outperforming other risk assets. However, given gold, a traditional safe haven, rose +1.6, the macro economy has not yet decisively shifted to a fully risk-off stance.

Bitcoin and Ethereum Related News

· Bitcoin Begins Full-Scale Anti-Quantum Computing Preparations

Bitcoin’s development team is accelerating efforts to introduce a new upgrade proposal, BIP360 “P2MR” (Pay-to-Merkle-Root) to prepare for future quantum computer threats. It is already running on a testnet, and related code was committed on September 22 days. In response to Google warning that “cryptography could be broken by around 2029,” the development community is steadily implementing defensive measures.

· U.S. Department of Labor Proposes New Rules for 401(k) (Defined Contribution Plans)

The U.S. Department of Labor proposed new rules to enable access to cryptocurrencies and alternative investments within the $10 trillion 401(k) retirement plans. If realized, a portion of enormous pension funds could flow into the crypto market.

· Fannie Mae, the U.S. government-sponsored housing finance agency with about $4.3 trillion in assets, Considering Accepting Crypto as Collateral for Mortgages

WSJ reported that Fannie Mae is exploring accepting cryptocurrency as collateral for home loans, making a future era feasible where you can own a home using bitcoin and other crypto as collateral.

· Large-Scale Ethereum Buy by Bitmine

Bitmine, led by Tom Lee, continues to aggressively acquire Ethereum (ETH). In the past week, about 7.1 million ETH were added, bringing total holdings to 473 million ETH, about 3.92% of total supply. Of these, 3.14 million ETH are staked, generating roughly $177 million in annual rewards.