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Is Bitcoin going to $65K? Traders explain why they're still bearish

Bitcoin (BTC) rebounded by as much as 14% after plunging to a four-month low near $76,600 on March 11. But BTC price is down approximately 25% from its record high of around $110,000, which is normal for a “bull market correction.”

Still, some analysts anticipate the Bitcoin price declines to continue in the future.

“Dark cloud” hints Bitcoin is topping out

Bitcoin faces renewed bearish pressure after rejecting at $87,470, the descending channel resistance, with a “dark cloud cover” pattern reinforcing the downtrend, according to an analysis shared by GDXTrader on X.

BTC/USD daily price chart. Source: TradingView/@GDXTrader

The dark cloud cover pattern occurs when a strong green candle is followed by a red candle that opens above the previous close but closes below the midpoint of the first candle’s body.

Illustration of a dark cloud cover. Source: GoldenEye Analysis

How to buy food with Bitcoin?

Key takeawaysIn 2025, you can have your digital wallet ready to pay with Bitcoin directly at 15,000 merchants and restaurants worldwide.Whether you’re using your own Bitcoin wallet to pay directly at accepting merchants or pay with cards, you’ll find plenty of options to buy food with Bitcoin.Bitcoin has evolved since Laszlo Hanyecz’s first purchase of food. A new whole payment structure has formed around Bitcoin, with innovative creative ways to use it to pay for food.Bitcoin payment processors, such as Bitrefill and BitPay, are now known globally. They handle thousands of transactions each month.

As Bitcoin becomes more accepted worldwide, many retailers, restaurants and food delivery services are embracing it. They now allow customers to pay for food with Bitcoin (BTC).

You can still buy food with Bitcoin, even if merchants don’t accept it directly. Use methods like crypto cards or crypto gift cards to make your purchase.

Bitcoin has long been recognized

Hacker steals $8.4M from RWA restaking protocol Zoth

Real-world asset (RWA) re-staking protocol Zoth suffered an exploit leading to over $8.4 million in losses, leading the platform to put its site on maintenance mode.

On March 21, blockchain security firm Cyvers flagged a suspicious Zoth transaction. The security firm said that the protocol’s deployer wallet was compromised and that the attacker withdrew over $8.4 million in crypto assets.

The blockchain security firm said that within minutes, the stolen assets were converted into the DAI stablecoin and were transferred to a different address.

Cyvers added the protocol’s website had been maintained in response to the incident. In a security notice, the platform confirmed that it had a security breach. The protocol said it’s working to resolve the problem as soon as possible.

The Zoth team said it worked with its partners to “mitigate the impact” and fully resolve the situation. The platform promised to publish a detailed report

Bitcoin speculative appetite declines as investors seek safety

Speculative appetite is vanishing from the crypto markets, as investors are looking for safer digital asset investments following the recent wave of memecoin scams and macroeconomic uncertainty.

Bitcoin’s hot supply metric, which measures the Bitcoin (BTC) aged one week or less, is down over 50%, from 5.9% at the end of November to just 2.3% on March 20, Glassnode data shows.

The metric’s decline signals an investor shift to safer investment positioning amid the recent market volatility, according to Ryan Lee, chief analyst at Bitget Research.

Bitcoin hot supply metric. Source: Glassnode

Global trade tensions and fluctuating market dynamics are making investors reconsider their strategies, the analyst told Cointelegraph, adding:

“During uncertain times, investors are not only seeking security but are also focused on rational decision-making. In many instances, that rational choice is represented by

Bitcoin NFTs, layer-2 and restaking hype ‘completely gone’

A Bitcoin layer-2 executive explained how Bitcoin narratives that were “overhyped” have now wholly vanished while the ecosystem develops.

In a Cointelegraph interview, Bitlayer co-founder Charlie Hu laid out three Bitcoin narratives that he believed were overhyped. This included narratives that surrounded Ordinals, layer-2s and re-staking.

According to Hu, one of the overhyped narratives in Bitcoin was non-fungible tokens (NFTs). The executive told Cointelegraph that while inscriptions may have gone “to the moon,” Hu said the era is “completely gone.”

CryptoSlam data shows that in the first quarter of 2024, Bitcoin NFTs had a volume of $1.4 billion. In 2025 Q1, the volume is only at $280 million, showing an 80% drop. The executive believes that the 1,000x days of Bitcoin NFTs may be over and that people can’t expect similar “crazy” price performances anymore.

Are Bitcoin layer-2s running out of steam?

Apart from Bitcoin NFTs, Hu told Cointelegraph that

XRP price chart hints at 75% gains next as SEC ends lawsuit against Ripple

XRP (XRP) price has recovered by almost 30% in the last two weeks, led by a crypto market rebound, and Ripple’s long-running legal battle against the US Securities and Exchange Commission (SEC) comes to an end.

XRP/USD daily price chart. Source: TradingView

The cryptocurrency’s rebound is also occurring inside the confines of a classic bullish continuation pattern, promising further gains in the coming weeks.

XRP symmetrical triangle puts 75% rally in play

XRP’s bullish technicals appear as it forms what appears to be a symmetrical triangle pattern.

A symmetrical triangle is considered a classic bullish continuation setup that forms after the price consolidates inside a range formed by converging trendlines after a strong uptrend.

As a rule of technical analysis, the setup resolves when the price breaks above the upper trendline, potentially rising as high as the length of the

South Korea eyes KuCoin, BitMEX in crypto exchange crackdown

South Korean authorities are reportedly looking into blocking crypto exchange platforms that may have operated without adhering to the requirements set by the country’s financial regulator.

On March 21, local media Hankyung reported that the Financial Intelligence Unit (FIU) of the Financial Services Commission is considering sanctions against crypto exchanges for allegedly operating in the country without reporting as an operator to the appropriate regulators.

South Korean financial authorities require crypto exchanges to report to regulators as virtual asset service providers (VASPs) under the country’s Specified Financial Information Act.

The FIU is investigating a list of exchanges and is conducting consultations with related agencies. The regulator is also considering sanctions, such as blocking access to the exchanges, as they begin to prepare countermeasures.

Exchanges operated without VASP reports

The list of exchanges that have allegedly provided services to South Koreans without the appropriate VASP reports includes BitMEX, KuCoin, CoinW, Bitunix

Here’s why Bitcoin price can’t go higher than $87.5K

Bitcoin (BTC) is being capped at $87,500 thanks to manipulation by one or more whales, new analysis says.

The latest market coverage by trading resource Material Indicators on March 20 reveals why BTC/USD is stuck in its current range.

“Spoofy the whale” gets blame for BTC price range

Bitcoin has managed to sustain $80,000 as support for more than a week while hitting two-week highs of $87,500 on March 20.

Despite following broad volatility across risk assets, BTC/USD may have gone even higher were it not for maneuvers of large-volume trading entities on exchange order books.

Looking at global trading platform Binance, Material Indicators argued that shifting blocks of ask liquidity above price were keeping it pinned in a specific area — a classic manipulatory device known as “spoofing,” which has often been used by whales

Australia outlines crypto regulation plan, promises action on debanking

Australia’s government, under its ruling center-left Labor Party, has proposed a new crypto framework regulating exchanges under existing financial services laws and has promised to tackle debanking.

It comes ahead of a federal election slated to be held on or before May 17, which current polling shows is shaping up to a dead heat between Prime Minister Anthony Albanese’s Labor and the opposing Coalition led by Peter Dutton.

The Treasury Department said in a March 21 statement that crypto exchanges, custody services and some brokerage firms that trade or store crypto will come under the new laws.

The regime imposes similar compliance requirements as other financial services in the country, such as following rules safeguarding customer assets, obtaining an Australian Financial Services Licence and meeting minimum capital requirements.

Australia’s Treasury says its new crypto regulations have four priorities. Source: <a data-ct-non-breakable="null" href="https://treasury.gov.au/sites/default/files/2025-03/p2025-628504-s.pdf" rel="null" target="null"

Trump’s crypto czar meets UAE’s national security adviser on crypto, AI

White House crypto and AI czar David Sacks was among a number of Trump administration officials who recently met with United Arab Emirates officials to discuss emerging technologies and UAE’s potential plans to increase its investment in the United States.

Sheikh Tahnoon Bin Zayed Al Nahyan, the Gulf nation’s national security adviser and brother of the country’s president, said in a March 20 X post that he had spoken with Sacks about AI’s impact, “the expanding role of digital currencies” along with “the investment opportunities emerging at their convergence.”

US President Donald Trump hosted Tahnoon for dinner at the White House on March 18 and posted on his Truth Social platform a day later that he and senior US officials discussed with Tahnoon “ways for our countries to increase our partnership for the advancing of our economic