Bitcoin (BTC) market liquidity has dropped to a 10-month low, partly due to the bank run in the US and ongoing regulatory actions on crypto companies. This has led to increased price volatility and higher fees for traders on US exchanges, with slippage for the BTC-USD pair on Coinbase climbing by 2.5 times at the beginning of March. Stablecoins are replacing USD pairs, but this has an adverse effect on liquidity in the US and will indirectly harm investors there, according to Conor Ryder, research head of on-chain data analytic firm Kaiko. Despite a bullish quarter in terms of price gain, BTC liquidity has dropped to 10-month lows as market makers lose access to USD payment rails.

Bitcoin has bounced back above $28,000 after slipping below the level last week, with several crypto analysts pointing out potential bullish scenarios for the next few months. However, several altcoins, including Shiba Inu, Dogecoin, HBAR, and SOL, have retraced hard, with daily declines of up to 6.3%. Cardano is among the few exceptions with daily gains, up by 3.5% in the past 24 hours and more than 14% on a weekly scale. The total crypto market cap has remained stagnant and sits just under $1.2 trillion on CMC.

Diving into crypto’s strong quarter and what comes next.

Bitcoin prices rose almost 22% in March, mirroring the January price trend, which may set up for further upward momentum. Technical analysts have noted that the daily trend support is at $22,500 and consolidation in the $26,500 to $29,300 range may be indicative of a continuation pattern. Bitcoin fell 2.4% to $27,786 during the Asian trading session, failing to break above resistance at $28,500, but it remains within a consolidation range that has formed over the past two weeks. The asset has resistance to the upside at around $29,000 to $29,500 and lower support levels at just over $27,000.

Bitcoin is expected to show more price volatility in April due to significant liquidity drying up, according to blockchain analytics firm Kaiko. Investors may have to pay more on trades due to slippages, indicating worsening liquidity and volatile price swings ahead. Growing US regulatory action and the shutdown of crypto-friendly banks continue to put pressure on the market. Trading volumes and liquidity have dried up significantly, while retail investors remain on the edge with greater participation in the market. Bitcoin trading volumes have collapsed, indicating waning appetite for Bitcoin at its recent higher levels. However, a large number of Bitcoins have moved off-exchange recently, with nearly 46,000 BTC leaving exchange wallets over the last 10 days, according to on-chain data provider CryptoQuant. (coingape)

According to the analysis, Bitcoin is currently correcting lower from the $28,800 resistance zone and may gain bearish momentum if there is a clear move below the $27,500 support. The price is currently trading below $28,500 and the 100 hourly simple moving average. A key bearish trend line is forming with resistance near $28,100 on the hourly chart of the BTC/USD pair. However, if the price manages to clear the $28,100 resistance, it might pump towards the $29,200 resistance and even test the $30,000 resistance zone. On the downside, a break below the $27,500 support might spark a fresh decline towards the $27,000 level. (newsbtc)

A recent survey by Independent Reserve found that 43% of 1,500 Singaporean respondents own cryptocurrencies, with diversifying portfolios being the primary reason for investment. 91% of respondents are aware of the asset class, with Bitcoin being the most recognized crypto.Bitcoin is the most popular, with 87% recognition, while Ethereum ranks second with 51%.

Crypto donations are expected to hit $10 billion by 2032, according to a report by crypto charity platform, The Giving Block. The report revealed that crypto donations reached a record level of over $125 million in 2022, with USDC accounting for 44% of the volume, followed by Ether and Bitcoin. The report also noted the "outsized stability" in crypto philanthropy versus other crypto use cases due to tax incentives and market volatility.

The US government has revealed plans to sell 41,490 Bitcoin seized in the Ulbricht case in four separate sales before the end of 2023. The government has already sold roughly 9,861 of the stash for just over $215 million. Despite the news spooking traders, Bitcoin remained resilient after the announcement, consolidating sideways tightly after tapping $29,000 on Thursday.