The global crypto market cap increased 0.88% over the past day to $2.73tn, while the total crypto market 24h volume decreased over 6% to $69.31bn. Bitcoin is up 1% for the day, trading around $83,500, Ether is up 2.7% and trades around $1,945.
The Bank of Japan (BoJ) kept its interest rate at 0.5%, the highest level in 16 years, following the January rate hike. Their statement emphasized economic uncertainty, particularly in the context of global trade policy.
According to a survey by Bank of America that was carried out in the past week, covering 171 participants with $477bn of assets under management, investors' allocations to US equities dropped by 40 percentage points in March, falling from a 17% overweight position in February to a net 23% underweight, marking the steepest decline since March 2020. The shift was driven by rising stagflation fears, escalating trade tensions, and diminishing confidence in US exceptionalism. Meanwhile, European equities saw a 27 percentage point jump in allocations, the highest since July 2021, reflecting the most significant reallocation from the US to Europe since 1999. Tech stocks saw the steepest declines with allocations dropping to a net 12% underweight, the lowest in over two years, while fund managers increased exposure to utilities, banking, and UK equities. Despite rising cash levels, government bonds did not see a corresponding increase in demand, as most investors remained underweight fixed-income assets.
US BTC spot ETFs recorded a second day of net inflows. According to dara from Farside Investors, Blackrock's IBIT recorded $218.1m while Ark 21Shares ARKB recorded $9m in outflows, bringing the net inflow to $209.1m. On the other hand, ETH ETFs recorded net outflows of $52.8m, 623.3% higher than the day prior. Blackrock's ETHHA, Fidelity's FETH and Grayscale's Ethereum Mini Trust ETH saw outflows of $40.2m, $3.3m and $9.3m respectively.
According to TheBlock data, Ethereum's OnChain volume has been decreasing since the beginning of March, with the 7day moving average currently below $3bn at $2.97bn, dropping over 26% in the past week. This is the lowest level since October 2024.
According to Santiment and Cryptoquant data, Ethereum exchange reserves have declined by 270,000 ETH in the past week and whales holding between 10k to 100k ETH have distributed over 630,000 ETH since February 9, potentially leaing the selling pressure. However, ETH's total value staked rose by nearly 180k ETH in the past week, showing that a large number of ETH investors still hold a long-term bullish view.
Nasdaq officially asked the US Securities and Exchange Commission (SEC) to allow Swiss asset manager 21Shares list and trade shares of a polkadot (DOT) ETF, submitting a 19b-4 filing to the SEC.
Yesterday, a hacker broke into aixbt's (AI powered crypto bot) dashboard and prompted it to transfer 55 ETH, worth around $109,000, out of its wallet.
SlowMist, a blockchain security firm, posted an alert after noticing that the EOS blockchain is experiencing an address poisoning attack, in which small amounts of tokens from a spoof address that closely resembles one the victim has previously interacted with, to deceive users into mistakenly copying and sending funds to the fraudulent address instead of the intended recipient. The attack arrives just a day after EOS Network announced it is rebranding to Vaulta as part of a strategic move toward Web3 banking.
