Crypto Market Update: Bitcoin Slides to March Low Amid Rising Yields

The token is down roughly 5.6 percent on the week as rising oil prices and persistent inflation fears continue to plague the market. US Treasury yields have climbed for four straight weeks, while a stronger dollar has added another layer of pressure on speculative assets, including crypto.

The reactionary environment and uncertainty is also compounded around a potential US-Iran ceasefire coinciding with fresh downside moves.

Despite trading within a relatively tight band between US$72,000 and US$66,000, more than US$1.3 billion in leveraged positions have been wiped out this week, highlighting heavy positioning above current levels.

Prediction market data now leans bearish, with a growing share of participants expecting a move toward US$55,000.

GameStop confirms it held all 4,710 Bitcoin, quashing sell-off fears

GameStop (NYSE:GME) shut down speculation that it had offloaded its Bitcoin holdings, confirming in a regulatory filing that it still owns all 4,710 BTC—worth roughly US$368 million.

The confusion stemmed from an earlier on-chain transfer of the full amount to Coinbase Prime, which some interpreted as a potential liquidation signal. Instead, the filing revealed the company pledged nearly all of its Bitcoin as collateral in a covered-call options strategy, allowing it to generate premium income while retaining exposure to price upside.

The structure involved selling short-dated call options with strike prices between US$105,000 and US$110,000, some of which have already expired unexercised.

Accounting rules required the firm to temporarily remove the Bitcoin from its balance sheet, replacing it with a receivable

White House crypto czar exits role

David Sacks is stepping down from his role as the White House’s AI and crypto czar after reaching the 130-day limit for special government employees.

During his tenure, Sacks was a central figure in shaping the administration’s pro-crypto stance, pushing for clearer regulatory frameworks, stablecoin legislation, and even a US strategic Bitcoin reserve.

However, several of the industry’s most anticipated initiatives, including the Clarity Act and broader market structure reforms, remain stalled in Congress amid ongoing disagreements. Early plans for a formal White House crypto council were also abandoned, replaced by ad hoc meetings and internal working groups following industry divisions.

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Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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