Weekly: bitcoin volatility, David Sacks’ resignation, Tether’s first audit, Sora shutdown and Mythos leak

Several strong themes came together in this week’s news at once: sharp movements in bitcoin and Ethereum, losses of miners, new signals from large players, the first full audit of Tether, the departure of David Sacks from the role of the White House crypto lead, the shutdown of Sora, and a new leak around Anthropic. Against this backdrop, the market once again looked nervous in the short term, but capital, technology, and regulatory changes have not disappeared.

Bitcoin: a week of sharp movements

In the period from March 23 to March 29, bitcoin went through a very nervous stretch. First, it fell below $69,000 after a harsh ultimatum to Iran from Donald Trump, then recovered part of the losses amid statements about allegedly productive negotiations, and then went up again after comments about victory in the war. However, the market failed to sustain this momentum. By March 27, BTC dropped below $66,300, and at the time of writing was trading around $66,855.

Additionally, the market was supported by an inflow of institutional capital. In the period from March 16 to March 20, net inflows into bitcoin ETFs exceeded $95 million. At the same time, bitcoin showed positive dynamics relative to gold after its sharp correction. This once again brought back the discussion of BTC as an alternative safe-haven asset.

Whales are accumulating, but scenarios remain tough

CryptoQuant analysts reported that the pace of bitcoin accumulation by whales reached a maximum over 11 years. This looks like a large-scale redistribution of capital against the backdrop of a weak and very emotional market. At the same time, Bloomberg linked the decline at the end of the week to the expiration of $14 billion in options, due to which traders moved into more defensive positions.

Wintermute described several scenarios for BTC taking into account the war between the US and Israel against Iran. In a negative scenario, the market may stall around $60,000, in a positive scenario, in the event of de-escalation, it may return to $80,000. At the same time, JPMorgan is already looking at bitcoin more optimistically and calling it a kind of safe haven, which this time outperformed both gold and silver.

Miners: losses are growing

The mining sector remains in a difficult situation. At the end of March 2026, miners’ losses reached $14,000 per mined bitcoin. The reason is familiar: more expensive energy, which is also pressured by the war in the Middle East. As a result, about 20% of companies are already operating at a loss.

CoinShares separately noted that the fourth quarter of 2025 became the worst period for miners since the halving in April 2024. Against this background, some miners are moving toward AI. Additional concern was caused by news about MARA, which sold 15,133 BTC for approximately $1 billion to repurchase bonds.

Strategy is not backing down

Against this backdrop, Strategy, on the contrary, continues to follow the same line it has held for a long time. The company announced an expansion of its capital raising program and increased the potential financing volume to $42 billion. The funds are planned to be directed toward further bitcoin purchases and strengthening the balance sheet.

Ethereum: also volatile, but weaker

Ethereum moved this week in the same nervous rhythm as bitcoin, but without such sharp jumps. On March 25, amid geopolitical optimism, ETH broke above $2,150, but already on March 27 fell below $2,000. At the time of writing, the asset was trading around $2,005.

The situation was also worsened by capital outflows from spot Ethereum ETFs. For the period from March 16 to March 20, it amounted to $59.94 million. In addition, a large holder from among Ethereum ICO participants sold more than 11,500 ETH for $23 million. That is, the market here still does not show the same confidence that some investors demonstrate in bitcoin.

Altcoins: privacy in Solana and TAO growth

Among other topics of the week is a new view from the Ethereum Foundation on L2. The organization described such networks not as a simple continuation of the base layer, but as providers of separate products and services that complement the main blockchain.

The Solana Foundation presented a new privacy model for institutions. Companies are offered four levels of privacy: from hiding amounts to fully closing data using zero-knowledge cryptography.

Another notable episode is the TAO token from Bittensor. Since mid-February, it has grown by more than 150%. Santiment links this movement to a new wave of interest in the AI narrative and capital flow into decentralized machine learning.

Projects: Tether audit, Balancer Labs shutdown and Sora stop

One of the most notable corporate news items of the week is the decision by the co-founder of Balancer to shut down Balancer Labs after the November 2025 exploit worth $128 million. Despite the fact that the protocol itself remained profitable, the team still decided to wind it down.

Even louder was the shutdown of Sora. OpenAI decided to stop the standalone application and focus video generation development inside ChatGPT. Against this background, the market received a simple signal: even large AI products are now quickly regrouping if the company sees a stronger path to monetization or integration.

Separately, an important piece of news was about Tether. The company completed its first full audit by a Big Four representative. For the stablecoin market, this is a strong moment, as the issue of reserve transparency has long remained one of the main weak points around USDT.

Resignation of David Sacks from the White House crypto role

Among political news, the most notable was the resignation of David Sacks from the role of the person responsible for the crypto direction in the White House. For the market, this is an important episode not only because of the figure itself, but also because of the question of how the crypto policy of the US administration will look without him in this role.

Kursoff’s opinion

The week turned out to be very interesting. Bitcoin once again showed how strongly the market now depends on geopolitics and nervous reactions to political statements. Ethereum remains weaker; miners are under serious pressure, but large players are not disappearing — on the contrary, they continue accumulation and long-term bets.

At the same time, it is becoming even more obvious that Web3 and AI are increasingly intertwining. Some miners are moving into AI, Solana is building a new privacy model for institutions, OpenAI is closing one product and strengthening another, and noise around Anthropic is appearing again. Against this backdrop, the market looks unstable in the short term, but the major processes themselves are not stopping.