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SOL, XRP Zoom 5% Higher as Bitcoin Grapples With $84K Level

Solana’s SOL and xrp (XRP) edged up 5% in the past 24 hours to lead gains among majors Saturday as bitcoin (BTC) saw resistance at the $84,000 price level.
SOL surged 7% as a contentious SIMD-0228 drew to a close late Thursday in favor of those against it, keeping its current inflation schedule intact. The proposal drew the highest voting turnout in Solana’s governance history, as reported, with those against saying a passage could disrupt parts of its flourishing DeFi ecosystem and dispel chances of further institutional interest.
XRP rose 5% following a strong week for closely-related Ripple Labs, which bagged a payments license in the UAE and, per sources, is said to be on track for a close of its long-running court case against the U.S. Securities and Exchange Commission.
Meanwhile, memecoins caught a bid on Friday as pepecoin (PEPE), toshi (TOSHI), dogecoin (DOGE) and other memes rose as much as 40%, providing volatility for traders amid a mostly flat market.
Base-based TOSHI jumped 38%, leading gains, with PEPE up as much as 12% before paring gains in European afternoon hours. Meanwhile, Base-based KEYCAT jumped more than 100% as developers announced a partnership with Acheron Trading as its official market maker — aiming to boost liquidity and expand the token’s presence on exchanges.
The broader memecoin rally reflects a shift in trader behavior as bitcoin (BTC) trades sideways, pushing speculators toward higher-risk, higher-reward assets.
BTC ended the week down 3%, faring slightly better than the past two weeks where extreme volatility saw it bounce between $75,000 and $95,000 — bringing it down as much as 20% from a Jan. peak above $108,000.
As such, traders continue to eye macroeconomic factors and rate cut decision for cues on further positioning.
“The recent cooling in inflation strengthens the case for potential rate cuts later this year,” Agne Linge, head of Growth at WeFi, told CoinDesk in a email. “However, escalating geopolitical and economic tensions particularly from the ongoing trade war add complexity to the Federal Reserve’s policy trajectory.”
Bitcoin has experienced intense whipsaw price action over the past two weeks, fluctuating between $79K and $85K amid heightened macroeconomic uncertainty. Its rapid on-off price dynamics reflect its increasing sensitivity to macroeconomic factors—suggesting that Bitcoin is behaving more like a risk-on asset than a traditional store of value. This volatility is likely to persist in the coming weeks as geopolitical tensions and macro-uncertainties continue to drive market sentiment,” Linge added.
Alex Kuptsikevich, FxPro chief market analyst, told CoinDesk in an email that a strong break above the $89,000 level should be watched by traders looking to turn bullish.“Only if the market breaks above its 200-day moving average will we be able to take it as a signal of a return to growth. For now, the market dynamics resemble no more than just a bumpy downtrend,” Kuptsikevich said. “Bears are regaining control of the market on bounces to the $83,500 area.”
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21Shares to Liquidate Two Bitcoin and Ether Futures ETFs Amid Market Downturn

Crypto asset manager 21Shares is set to liquidate two actively managed exchange-traded funds (ETFs) tied to bitcoin and ether futures amid a wider market downturn.
The funds slated for liquidation are the ARK 21Shares Active On-Chain Bitcoin Strategy ETF (ARKC) and the ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY). Investors can trade shares until the market closes on March 27, with liquidation expected to take place “on or around March 28,” according to a press release.
The actively managed ETFs, which have an expense ratio of 1% and 0.93%, respectively, are set to be liquidated as U.S.-listed spot bitcoin ETFs saw over $1.66 billion in outflows so far this month. The outflows come as cryptocurrency prices plunge. Bitcoin is down more than 12.8% year-to-date, while the broader CoinDesk 20 Index (CD20) has lost around 24% of its value over the same period.
Shareholders who hold onto their shares until the liquidation date will receive payouts equal to their portion of the fund’s net asset value, the document adds.
Read more: Bitcoin Price Drop to $80K: Crypto Market Analysis, ETF & Trump Impact
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Coinbase Stock Decline Can’t Stop Highly Leveraged Long ETF Rollouts

Leverage Shares by Themes has launched a new exchange-traded fund (ETF) tied to the Nasdaq-listed cryptocurrency exchange Coinbase (COIN) stock despite a downturn in the crypto-related shares.
The Leverage Shares 2X Long Coinbase Daily ETF (COIG) is designed to deliver twice the daily return of Coinbase’s stock price, offering traders an amplified exposure to the U.S.’s largest cryptocurrency exchange. The ETF, which carries an expense ratio of 0.75%, is listed on Nasdaq, according to a press release.
The launch comes amid a significant cryptocurrency market downturn that saw bitcoin (BTC) drop by around 19% over the last three months, from over $105,000 to now stand at wrought $84,000. COIN shares saw even worse performance, losing nearly 42% of their value during the same period.
The new ETF allows investors to take advantage of Coinbase’s stock performance volatility without directly holding shares.
These types of single-stock leveraged ETFs, for both longs and shorts sides, are typically used for short-term trading due to the high levels of risks associated with daily compounding. The profits and losses for both types of these are amplified when the prices of the underlying stocks move significantly.
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Gold ETFs Inflow Takes Over Bitcoin ETFs Amid Historic Rally

Gold exchange-traded funds (ETFs) have overtaken bitcoin ETFs in assets under management as investors shift toward the traditional safe-haven asset as BTC price tumbled more than 19% over the past three months, while the precious metal climbed 12.5%.
Bitcoin ETFs, which saw significant inflows following their U.S. launch in January last year, have experienced major outflows, losing about $3.8 billion since Feb. 24 of this year, according to Farside Investors data. Meanwhile, gold ETFs recorded their highest monthly inflows since March 2022 last month, according to the World Gold Council.
These flows have meant that gold ETFs have now “reclaimed the asset crown over bitcoin ETFs,” as Bloomberg Senior ETF analyst Eric Balchunas said on social media.
Spot bitcoin ETFs listed in the U.S. first surpassed gold ETFs in assets under management in December 2024 as the cryptocurrency market surged after Donald Trump’s victory in the U.S. presidential elections.
Meanwhile, gold has been seeing a significant run. This Friday, it exceeded the $3,000 per ounce mark for the first time ever, with gold futures for April delivery breaking through the same level earlier in the week.
Market volatility and geopolitical uncertainty have been helping the price of the precious metal rise as demand for a safe haven continues to grow.
Read more: Gold’s Historic Rally Leaves Bitcoin Behind, But the Trend May Reverse
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