Source: Cointelegraph Original: "{title}"
Arthur Hayes believes that the price of Bitcoin is expected to surge to $110,000 before retesting the $76,500 range, indicating that easing concerns over U.S. inflation and more favorable monetary policy conditions will support risk assets, including the world's first cryptocurrency.
Nevertheless, the decentralized finance (DeFi) industry has once again been hit, as an unknown "whale" made over $6 million in profit from a memecoin short position using Hyperliquid's algorithm.
Some market analysts believe that easing inflation and increased global liquidity are key factors supporting a rebound in Bitcoin's price, which could reach a historic high of $110,000 before a significant pullback.
TradingView data shows that Bitcoin (BTC) has risen for two consecutive weeks, achieving a bullish weekly close slightly above $86,000 on March 23.
Arthur Hayes, co-founder of BitMEX and Chief Investment Officer of Maelstrom, believes that the gradual easing of inflation-related concerns could lay the groundwork for Bitcoin to rebound to its historic high of $110,000.
BTC/USD 1-week chart. Source: Cointelegraph/TradingView
In a post on X on March 24, Hayes wrote:
Source: Arthur Hayes
"I mean, it's more likely to hit $110,000 next than $76,500. If we hit $110,000, then it's 'yacht season,' and we won't look back until $250,000," Hayes added in a follow-up post on X.
Quantitative tightening (QT) refers to the U.S. Federal Reserve reducing its balance sheet by selling bonds or allowing bonds to mature without reinvesting the proceeds, while quantitative easing (QE) refers to the Fed buying bonds and injecting money into the economy to lower interest rates and encourage spending during financial difficulties.
Other analysts point out that while the Fed has slowed its quantitative easing policy, it has not fully shifted to easing.
"Quantitative easing did not 'essentially end' on April 1. They still have $35 billion/month in mortgage-backed securities. Benjamin Cowen, founder and CEO of IntoTheCryptoVerse, said, 'They just reduced QT from $60 billion/month to $40 billion/month.'
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According to blockchain analysts, a crypto whale allegedly manipulated the price of the Jelly my Jelly (JELLY) memecoin on the decentralized exchange Hyperliquid and currently still holds nearly $2 million worth of the token.
By leveraging the liquidation parameters on Hyperliquid, this unidentified whale made at least $6.26 million in profit.
According to a post-mortem report from blockchain intelligence firm Arkham, the whale established three large trading positions within five minutes: two long positions worth $2.15 million and $1.9 million, and a short position worth $4.1 million, effectively offsetting the long positions.
Source: Arkham
When the price of JELLY surged by 400%, the $4 million short position was not immediately liquidated due to its size. Instead, it was incorporated into a super liquidity provider vault (HLP) designed to liquidate large positions.
According to blockchain investigator ZachXBT, the entity may still hold nearly $2 million worth of token supply.
"Five addresses associated with the entity manipulating JELLY on Hyperliquid still hold approximately 10% of the JELLY supply on Solana (over $1.9 million). He wrote in a Telegram post on March 26, 'All JELLY was purchased since March 22, 2025.'
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Fidelity Investments is reportedly in the final stages of testing a stablecoin pegged to the U.S. dollar, marking the company's latest push into the digital asset space under a more favorable cryptocurrency regulatory environment during the Trump administration.
According to a report by the Financial Times on March 25, citing anonymous sources familiar with the matter, the $5.8 trillion asset management company plans to launch the stablecoin through its cryptocurrency division, Fidelity Digital Assets.
The development of the stablecoin is reportedly part of the asset management company's broader push for cryptocurrency-based services. Fidelity has also launched an Ethereum-based "OnChain" stock class for its dollar money market fund.
Fidelity's filing with U.S. securities regulators on March 21 stated that the OnChain stock class would help track transactions of the Fidelity Treasury Digital Fund (FYHXX), which has a size of $80 million and is almost entirely composed of U.S. Treasury securities.
Fidelity stated that the application for the OnChain stock class is pending regulatory approval and is expected to take effect on May 30.
Fidelity applies to register a tokenized version of the Fidelity Treasury Digital Fund. Source: Securities and Exchange Commission
Since Donald Trump was elected president, an increasing number of U.S. financial institutions have begun launching cryptocurrency-based products.
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The world's largest decentralized prediction market, Polymarket, has come under fire as a controversial outcome raised concerns about potential governance manipulation in a high-stakes political gamble.
A betting market on the platform asked whether U.S. President Donald Trump would accept a rare earth mineral deal with Ukraine before April. Despite no such event occurring, the market settled on "yes," prompting backlash from users and industry observers.
Cryptocurrency threat researcher Vladimir S. stated that this could point to a "governance attack," where a whale in the UMA protocol "manipulated the oracle with its voting power to settle the market with false results and successfully profited."
"This tycoon cast 5 million tokens across three accounts, accounting for 25% of the total votes. Polymarket is committed to preventing this from happening again," he wrote in a post on X on March 26.
Source: Vladimir S.
Polymarket uses UMA protocol's blockchain oracles to obtain external data to settle market outcomes and verify real-world events.
Polymarket data shows that the market accumulated over $7 million in trading volume before the settlement on March 25.
Polymarket's Ukraine/U.S. mineral trade betting pool. Source: Polymarket
However, not everyone believes this was a coordinated attack. A pseudonymous user on Polymarket, Tenadome, stated that the outcome was due to negligence.
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Dubai-based cryptocurrency market maker and investor DWF Labs has launched a $250 million liquidity fund to accelerate the development of medium and large blockchain projects and promote the application of Web3 technology in the real world.
As part of the fund, DWF Labs will sign two investment deals worth $25 million and $10 million.
According to an announcement shared with Cointelegraph on March 24, the initiative aims to develop the cryptocurrency space by providing strategic investments ranging from $10 million to $50 million to projects with the potential to drive real-world adoption.
Source: DWF Labs
DWF Labs Managing Partner Andrei Grachev stated that the fund will focus on blockchain projects with significant "usability and discoverability."
Grachev told Cointelegraph, "We will focus on supporting mid-to-large cap projects, which are typically the tokens and platforms that serve as entry points for retail users." He added:
"We believe that strategic capital combined with hands-on ecosystem development is key to unlocking the next wave of growth in the industry."
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According to data from Cointelegraph Markets Pro and TradingView, most of the top 100 cryptocurrencies by market capitalization closed the week in the green.
Among the top 100, the BNB Chain-native Four (FORM) token surged over 40%, becoming the biggest gainer of the week; followed by the Cronos (CRO) token, which saw a weekly increase of over 37%, despite blockchain investigators accusing Crypto.com of manipulating the CRO token supply by reissuing 70 billion tokens that were "permanently" burned in 2021.
Total value locked in DeFi. Source: DefiLlama
Thank you for reading our summary of the most impactful DeFi dynamics this week. Join us next Friday for more stories, insights, and education on this dynamic field.
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