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Bitcoin Price Crash to $20K Possible If Nasdaq Enters Bear Market, Says Peter Schiff

As Bitcoin price struggles to pass the $83,000 resistance on the upside, bearish calls for BTC are rising amid severe correction in the US stock market.

Popular economist Peter Schiff believes that if Nasdaq enters the bear market correcting 40% from the peak, BTC price can collapse all the way to $20K.

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.

South Korean Central Bank ‘Negative’ About Launching Strategic Bitcoin Reserve

The South Korean Central Bank, the Bank of Korea (BOK), says it is “not considering” creating a national strategic Bitcoin reserve.

Per Dong-A Ilbo, the BOK has finally broken its silence on the matter of “Bitcoin (BTC) stockpiling.” The bank said it “must be cautious” about including Bitcoin in its “foreign exchange reserves.”

ECB’s Villeroy says U.S. crypto support will lead to a financial crisis

European Central Bank Governing Council member Francois Villeroy de Galhau revealed that the United States posed a risk to bring about the next financial emergency. He argued that the U.S.’ support of cryptocurrencies and non-bank finance would lead to another financial crisis.

In an interview with the French weekly La Tribune Dimanche, Villeroy said that “the United States risks sinning through negligence.” The French senior civil servant also highlighted that European supervision was better secured and argued that there was no risk of a banking crisis in the EU.

Uber angel investor stirs Bitcoin debate with ‘build a better Bitcoin’ remark

A technology investor who backed ridesharing app Uber in its early days has sparked backlash from the Bitcoin community after claiming Bitcoin will inevitably be replaced by something better.

“Bitcoin has been a wonderful game, but with a couple of giant players cornering the market, the timing is right to “build a better Bitcoin” — restarting the game,” prominent angel investor and internet entrepreneur Jason Calacanis told his 981,600 X followers on March 14.

Calacanis, an early investor in Bitcoin-related companies like online trading platform Robinhood and Bitcoin startup Keza, said, “All technology gets replaced over time… and Bitcoin will be no different.”

Bitcoin Spot ETF Flow

The overall net outflow of the US Bitcoin spot ETF on Friday (Mar 14) was $68.41 million. The total net asset value of Bitcoin spot ETFs is $35.20 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.6%.

The Bitcoin spot ETF with the highest net inflow on Mar. 14 was Bitwise Bitcoin ETF , with a net inflow of $23.04 million. While the Bitcoin spot ETF with the highest net outflow on Mar. 14 was iShares Bitcoin Trust , according to SoSoValue.