The Bitcoin and broader cryptocurrency market is experiencing a whirlwind of activity as we close out the first quarter of 2025. From institutional investments and regulatory shifts to innovative stablecoin developments, the past week alone has delivered updates that signal a maturing yet overly cautious landscape.
For the first time in five weeks, altcoins (all coins except Bitcoin and Ethereum) are seeing a modest resurgence of investor interest. According to CoinShares, global crypto funds recorded inflows of $226 million, driven by what the firm describes as “positive but cautious” sentiment.
This slight shift marks a break from the stagnation that had gripped smaller-cap cryptocurrencies, suggesting that investors are beginning to dip their toes back into riskier assets beyond Bitcoin. But the market is down considerably at the time of writing mainly due to Trump Administration‘s announcement of tariffs and other geopolitical factors.
While Bitcoin remains the dominant force by far (BTC dominance hovering around 58% to 60%), this inflow could hint at a broader market recovery—or at least a willingness to diversify as confidence slowly rebuilds. However, there’s a long road ahead because overall investor and trader sentiment remains quite low according to CoinMarketCap data.
Notably, Bitcoin miner MARA is making waves with plans for a $2 billion stock offering aimed at stacking more BTC in its treasury. Already holding 46,000 BTC, MARA is positioning itself as one of the largest public Bitcoin holders, trailing only Michael Saylor’s Strategy, which recently surpassed 500,000 BTC.
Posts on social media highlight the strategy shift: rather than relying solely on mining—where margins have tightened post-halving—MARA is opting to buy Bitcoin on the open market.
This move transforms the miner into a pseudo-ETF, aligning with a growing trend of corporate Bitcoin adoption.
Whether this gamble pays off will depend on Bitcoin’s price trajectory, but it’s a clear signal of faith in the asset’s long-term value.
Across the Pacific, Japan is mulling a significant regulatory step: classifying cryptocurrencies as financial products, according to a report from Nikkei.
If enacted, this would introduce insider trading rules to the crypto market, aligning it more closely with traditional finance. The move reflects Japan’s ongoing efforts to legitimize digital assets while protecting investors—a balancing act that could set a precedent for other Asian nations.
As posts on social media indicate, this development coincides with broader adoption milestones, potentially paving the way for greater institutional participation in the region.
Sticking with Japan, Metaplanet, a publicly traded firm, is issuing $13.3 million in new bonds to bolster its Bitcoin holdings.
This announcement comes as the Nikkei index dips 4%, underscoring Bitcoin’s appeal as a hedge against traditional market volatility. Often dubbed “Japan’s MicroStrategy,” Metaplanet is doubling down on its crypto strategy, reflecting a growing corporate trend of treating Bitcoin as a treasury reserve asset.
The timing suggests a calculated move to capitalize on market dips—both in equities and potentially in BTC itself.
Meanwhile, Elon Musk recently clarified that the U.S. government has no plans to adopt Dogecoin (DOGE). Despite his vocal support for the meme coin in the past, this statement dismisses any speculation of official endorsement.
Musk’s influence on crypto markets remains undeniable, but for now, Dogecoin enthusiasts will need to look elsewhere for momentum.
In addition to these recent developments, Michael Saylor, the strongest advocate for corporate Bitcoin adoption, hinted at yet another BTC purchase as Strategy’s holdings crossed the 500,000 mark.
With a stash now dwarfing most institutional players, Saylor’s commitment continues to inspire—or perplex—market watchers. His approach has turned Strategy into a Bitcoin proxy, and each new acquisition fuels debate about the sustainability of this approach in a volatile market.
On the legal front, FTX is gearing up to begin major creditor repayments on May 30, 2025. Despite ongoing disputes over token valuations, this marks a significant step toward resolving one of crypto industry’s most spectacular collapses.
The repayments could inject liquidity back into the ecosystem, though the process underscores the lingering complexities of unwinding such a debacle.
In the U.S., the FDIC has reportedly pledged to work with President Trump’s administration to establish clear crypto guidance for banks. This collaboration could bridge the gap between traditional finance and digital assets, offering banks a roadmap to engage with crypto without regulatory ambiguity.
As Trump’s pro-crypto stance takes shape, this move might accelerate mainstream adoption—a development eagerly watched by the web3 industry.
Another noteworthy announcement comes from Dominari Holdings, which is investing $2 million in BlackRock’s Bitcoin ETF, further cementing the asset manager’s dominance in the crypto ETF space.
With BlackRock’s Bitcoin ETP also launching in Europe, the firm is aggressively expanding its footprint, blending traditional finance with digital innovation.
This investment reflects growing confidence in regulated crypto exposure vehicles.
In addition to these recent announcements, analyst Juan Van Straten notes that the Ether-Bitcoin ratio has slumped to its lowest level in five years, signaling a flight to safety among traders.
As Ethereum underperforms relative to Bitcoin, investors appear to be favoring the latter as a less risky asset amid uncertain market conditions. This trend could reshape portfolio allocations in the months ahead.
Marco Manoppo of Primitive Ventures highlighted a flurry of stablecoin developments last week:
- USDC reached an all-time high supply of $60 billion, with its market share climbing to 25.4%. Over three months, $16.5 billion in new USDC was minted, outpacing Tether’s $4.7 billion.
- JPMorgan predicts yield-bearing stablecoins could grow from 6% to 50% of the market, driven by high interest rates and investor demand akin to money market funds.
- Fidelity is preparing to launch its own stablecoin, following a blockchain-based filing for its U.S. dollar money market fund.
- World Liberty Financial unveiled plans for USD1, a fully backed stablecoin pegged to $1 with U.S. Treasuries and cash equivalents.
- BlackRock expanded its BUIDL fund to Solana, with assets under management soaring past $1.7 billion, signaling deeper interest in tokenized assets.
- Tether is plotting USDT0 expansion across Optimism’s superchain, reinforcing its dominance as the largest stablecoin.
Other notable moves from the past week in web3 and crypto:
- Hyperliquid delisted JELLYJELLY after a $12 million whale attack, highlighting the risks in decentralized finance.
- Maven11 raised $107 million for its third crypto fund, navigating a cautious venture capital landscape.
- Nikita Bier joined Solana as an advisor, boosting its mobile ambitions.
- GameStop jumped on the Bitcoin bandwagon with a $1.3 billion convertible note offering, earmarking proceeds for BTC purchases.