Crypto News 23/03: Bitcoin is in a natural cooling phase before starting a major bullish trend along with news on stablecoin, Tornado Cash, Memecoin, USUAL, Scam & Hack

From the observation that Bitcoin is in a natural cooling phase before starting a larger upward trend to the UAE leading the world in interest in cryptocurrency, here are some highlights in the crypto market.

Bitcoin News

Short-term Bitcoin holders (BTC) are recording an increased unrealized loss, marking a critical inflection point in the current market cycle.

Despite the increasing pressure, this could be a natural cooling phase in the larger uptrend.

In fact, data from Glassnode shows that the unrealized losses of short-term holders (STH) may be approaching a +2 standard deviation level.

However, they still remain within the usual limits seen in bull markets, not surpassing the capitulation zone.

Source: GlassnodeBitcoin is currently trading close to the $85,000 area, just below the 50-day moving average around $85,141 and significantly lower than the 200-day moving average of $95,174.

These levels create major resistance zones and may continue to hinder the upward momentum. Especially if the sentiment of short-term holders remains weak.

Source: TradingViewThe Bollinger Bands are also tightening the range, indicating the possibility of a breakout in the future.

However, with short-term holders under pressure, the trend may lean towards a decline unless there is new demand entering the market.

If BTC can reclaim $85,000 and turn it into a support level, then this asset could restore confidence from STH. Conversely, failing to hold the $83,000 level could lead to a sell-off that tests lower support levels near $80,000.

Stablecoin News

According to Max Keiser, a proponent of Bitcoin maximalism, gold-backed stablecoins will outperform USD-pegged altcoins due to gold’s inflation-hedging properties and lower volatility.

Keiser argues that gold is more reliable than USD globally and states that the governments of foreign nations that have adversarial relationships with the United States will not accept stablecoins pegged to the USD.

“Russia, China, and Iran will not accept a type of stablecoin pegged to the USD and will replace it with a type of token backed by gold. China and Russia have a total of 50,000 tons of gold, more than what is reported.”

The fact that gold-backed stablecoins outperform USD-pegged tokens in the international market will disrupt plans to expand the dominance of the USD through stablecoins proposed by U.S. lawmakers.

Tornado Cash News

A developer has transferred the crypto “mixing” protocol, Tornado Cash, to the newly launched public testnet of the MegaETH blockchain, adding the ability to send private transactions to the new network, with a throughput of up to 20,000 transactions per second.

The developer of Gunboats stated that he has transitioned the protocol to MegaETH after the U.S. Treasury lifted economic sanctions against Tornado Cash by removing the company’s address from the OFAC sanctions list following a court ruling in January.

Gunboats named the new contract ETHTornado.

Memecoin News

An anonymous trader pocketed nearly half a million USD in profits from a newly launched memecoin just before the token lost half its value, raising allegations of insider trading.

This trader has made a profit of more than 1,500 times their initial investment, turning it into over $482,000 in less than 24 hours with the memecoin Bubb (BUBB).

Source: Lookonchain “Turned $304 into $482,000 on BUBB with a profit of 1,586 times. This trader spent $304 to buy 43.94 million BUBB and sold 28.9 million BUBB for $122,000, leaving 15.64 million BUBB ($360,000),” Lookonchain wrote.

USUAL News

Financial analyst David Alexander has highlighted the significant decline in Usual, noting that the platform’s net deposit amount surged to $1.7 billion in 2025 but has since plummeted by 57%.

In addition, the total supply of the USD0 stablecoin has decreased by 42%, while the price of the native token USUAL has plummeted by 86% in value this year.

Source: Coinmarketcap## Scam & Hack News

The U.S. Department of Justice (DOJ) announced on March 21 that Gotbit Consulting LLC and founder Aleksei Andriunin pleaded guilty in federal court in Boston to charges of fraud and conspiracy related to a years-long scheme to manipulate the crypto market.

Andriunin, 26 years old, holding dual citizenship of Russia and Portugal, was arrested abroad in October 2024 and extradited to the United States in February 2025.

Gotbit Consulting LLC, operating as a market maker in the crypto space, has admitted to engaging in fraudulent trading activities involving multiple digital tokens.

“Gotbit has agreed to cease all operations and has had approximately 23 million USD worth of crypto seized. Under the plea agreement with Andriunin, the government will recommend a sentence of up to 2 years in prison.”

Other news

UAE leads the world in interest in crypto

According to research by Atmos, the United Arab Emirates (UAE) is the country most interested in cryptocurrency in the world, with a score of 98.4.

This Middle Eastern country is just slightly ahead of Singapore, which ranks second with a score of (97,5), and is 10 points higher than the United States, which ranks third with a score of 85.4.

The highest ranking of the UAE appears in the context where the research report describes the country’s Bitcoin ATM infrastructure as minimal.

Research indicates that the United States ranks third with 29,834 ATMs, while the UAE has only one. However, despite this, the cryptocurrency ownership rate is 25.3% in the UAE, combined with an adoption rate of 210%, which is enough to place the country in the top position.

Open House accepts payment in XRP, SOL, and DOGE

Open House Group, a leading real estate company listed on the Tokyo Stock Exchange, has just announced that they now accept payments in XRP, SOL, and DOGE, bringing the total number of supported cryptocurrencies on the platform to 5.

Previously, this real estate company only accepted Bitcoin and Ethereum.

You can view the coin price here.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should conduct thorough research before making any decisions. We are not responsible for your investment decisions.

• Bitcoin and Gold: Is this the perfect signal for the next price increase of BTC?
• Fidelity registers Solana Fund, implying the possibility of establishing an ETF.
• The crypto market will be under pressure from the trade war until April.

Viet Cuong

@media only screen and (min-width: 0px) and (min-height: 0px) { div[id^=“wrapper-sevio-d89f58f5-7b63-40be-98c0-6b1fd62584fb”] { width:320px; height: 100px; } } @media only screen and (min-width: 728px) and (min-height: 0px) { div[id^=“wrapper-sevio-d89f58f5-7b63-40be-98c0-6b1fd62584fb”] { width: 728px; height: 90px; } }