GameStop Enters BTC! Traditional Capital Floods into the Crypto Market, Calm Before the Storm?

March 28 Crypto Market Highlights

1. Bitcoin Rushes to Key Levels, Institutional Capital Flows Under the Surface

BTC recently reached a high of $88,800, a three-week high, but today the price fluctuates around $87,250. On-chain data shows a net outflow of $2.4 billion in BTC from exchanges over the past three days, with whale holdings reaching a yearly peak, indicating intentions of main players to accumulate. In the stablecoin sector, USDC's market cap exceeds $60 billion, but the minting of $300 million USDC overnight may be a hedge against market volatility.

2. Regulatory Relaxation and Accelerated Compliance

The Trump administration accelerates its crypto strategic layout, planning to expand national reserves to XRP/SOL, with the Senate voting 70-28 to abolish strict tax rules on DeFi. The SEC today concluded its investigation into Crypto, with new chair nominee Paul Atkins pushing for a transfer of regulatory powers to the CFTC, while platforms like Coinbase collectively benefit from a wave of dismissals.

3. Traditional Capital's Accelerated Penetration

GameStop announced that it will include BTC in its balance sheet, but specific holdings have not been disclosed, and market reaction has been relatively mild. The French state-owned bank Bpifrance launched a €25 million crypto fund, and AI cloud service provider CoreWeave, backed by Nvidia, completed a $1.5 billion IPO. It is worth noting that ETF giants like BlackRock saw a net outflow of over $5 billion in one week, indicating short-term risk aversion among institutions.

4. Open Source Collaboration and Upgrade of Offense and Defense

Coinbase's open-source MPC encryption library promotes industry security standards, but losses from hacker attacks have reached $1.5 billion in the first quarter, with $9 million in assets frozen in the Bybit incident involving T3 FCU.

5. Halving Narrative and Liquidity Games

BitMEX founder predicts April will be a turning point for the market, but the overall network leverage ratio has rebounded to 1.2, with CMEBTC futures' open contracts reaching a new high of $12 billion. In the long term, Standard Chartered maintains a year-end BTC target of $200,000, but caution is warranted regarding Trump's tariff policies and the Federal Reserve's interest rate cuts.

The market seeks a balance amid regulatory relaxation, institutional reallocation, and technological upgrades. It is recommended to pay attention to three major signals: progress of the SEC chair hearing, reversal timing of ETF fund flows, and the effectiveness of the triple bottom support at $76,000-$82,000 for BTC. In the short term, avoid chasing prices or panic selling; in the medium to long term, focus on RWA, AI agents, and compliant stablecoin sectors.

Follow me for top resources!