The market slipped to $2.53T (-0.26%), triggered by a major DeFi exploit that quickly spread beyond a single protocol. The Kelp DAO incident exposed deeper risks across lending platforms, sparking withdrawals and dragging the broader market lower. That pressure didn’t stay contained. Bitcoin and Ethereum followed down, while derivatives flipped bearish, with negative funding and liquidations accelerating the move. Now it’s about containment. If the fallout is managed, the market can stabilize, but a break below $2.44T risks a deeper unwind. So what’s actually moving the market right now?
Schwab and Citadel Are Eyeing Prediction Markets
Kalshi and Polymarket hit a combined $23.6 billion in monthly trading volume in March. Now Charles Schwab and Citadel Securities both want in. Neither is touching sports betting. Citadel is focused on event contracts, specifically ones that help investors hedge against elections and geopolitical risk. What’s holding them back from entering right now? Read more.
WLD Is Tanking Despite Major Partnerships
Zoom, Docusign, and Tinder just integrated World’s iris-scanning identity tech. Amazon, Shopify, and Coinbase were already on board. WLD dropped 13.4% the same day the news hit, while the rest of the market was up 2.2%. What’s driving the sell-off despite the growth? Read more.
Bitcoin ETFs Are Back With a Bang
Spot Bitcoin ETFs recorded their strongest weekly performance since January, with $663.9 million flowing in on Friday alone. A single geopolitical event sent Bitcoin above $77,000 almost immediately after it broke. Analysts say the move has a ceiling though. What levels are they watching? Read more.
Big Money Is Moving Into Crypto
A Nomura survey of over 500 institutional investors found 31% now hold a positive outlook on crypto, up from 25% last year. Most are planning allocations between 2% and 5%. Interest is moving beyond spot exposure into staking, lending, and tokenized assets. But what’s the one thing still keeping institutions on the sidelines? Read more.
Poland Still Has No Crypto Rules
Parliament just failed for the second time to override a presidential veto on a crypto regulation bill. The Finance Minister warned the delay is turning the market into an opening for fraudsters. The country’s largest exchange is also accused of links to illicit funding, and there is a $330 million wallet that nobody agrees on who controls. What exactly did Nawrocki find so wrong with the bill that he vetoed it twice? Read more.
Can ETF demand push BTC to new highs soon?
TLDR: ETF demand is helping, but on its own it probably will not push Bitcoin to new all‑time highs in the very near term unless it accelerates and macro stays supportive.
- Spot BTC ETF assets are about $100.09 B, roughly 6.7% of Bitcoin’s $1.49 T market cap, and up about 5% in 30 days.
- Bitcoin is still about 41% below its all‑time high price, so new highs need a lot more net buying than we see right now.
- Leverage and equity correlations are high, so macro risk sentiment and derivatives positioning will decide whether ETF flows translate into a breakout in the next few months.
Disclaimer: This alpha is provided by CryptoMx. CryptoMx can make mistakes—please DYOR. Not financial advice.