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19 Mar 2026, 13:25

YBTC: Bitcoin Covered Call Strategy May Outperform Bitcoin, But Risks A Market Correction

Summary Roundhill Bitcoin Covered Call Strategy ETF (YBTC) is rated Sell due to downside risk from bitcoin’s corrective wave, despite potential near-term outperformance versus bitcoin. YBTC employs a synthetic covered call strategy, offering high yield (76.31%) but exposes investors to full downside risk and NAV erosion. Recent bitcoin ETF fund flows may have normalized the market environment, potentially stabilizing bitcoin volatility that can benefit YBTC’s income strategy. YBTC’s distributions are 100% return of capital, providing tax deferral but increasing risk of capital erosion over time. YBTC SA Repot 3.18.26 The Roundhill Bitcoin Covered Call Strategy ETF ( YBTC ) is an alternative income exchange-traded fund designed to provide investors with indirect exposure to bitcoin through a synthetic covered call strategy. While covered call strategies tend to limit the full upside potential of the fund given the short call position, the market may be positioned for YBTC to outperform bitcoin, creating a differentiated investment opportunity for those seeking exposure to the performance of bitcoin while earning income through a derivatives strategy. While I believe YBTC may outperform bitcoin in the near future as a result of the premium earned on sold call options, bitcoin may be entering the final corrective wave when applying Elliott Wave Theory, suggesting that the price of bitcoin may continue its decline going forward. As a result of this, I am recommending YBTC with a Sell rating. Investment Thesis for YBTC YBTC employs a synthetic covered call strategy to provide investors with exposure to the performance of bitcoin. A synthetic covered call strategy is similar to a covered call strategy with respect to taking both a long and short position with respect to the underlying asset; the core difference between the two types of strategies is that a synthetic covered call strategy is entirely made up of derivatives whereas a covered call strategy has direct ownership of the underlying assets. In the case of YBTC, the fund provides indirect exposure to bitcoin by taking both long and short positions in options derivatives, though has the flexibility to take a direct position in a bitcoin ETF per the fund’s prospectus . The fund does this by buying call options and selling put options to create synthetic long exposure to bitcoin. In turn, the fund will sell out-of-the-money call options in order to earn premium for the fund. While this can be an appealing investment strategy when the price of bitcoin trades within a certain range during the options’ holding period, the fund may limit the full upside potential as a result of the covered call options sold while exposing investors to the full downside risk during a market correction. On the basis of these factors, I have reason to believe YBTC could outperform bitcoin in the near future following a series of repositionings that occurred in late-2025 and early-2026. Towards the end of 2025 , bitcoin underwent a major correction that led to the liquidation of over $19b in leveraged positions within a 24-hour period. These events were the precursor to a further price correction with bitcoin declining to a 1-year+ low of $62.1k per coin in February 2025 before modestly recovering. TradingView (TradingView) While I believe the liquidation of leveraged positions was the beginning of the price correction, I suspect a large component of the deeper decline was the result of the institutionalization of bitcoin, adding bitcoin exposure through the use of spot ETFs in portfolios of individual investors that may not be as comfortable with the volatility bitcoin presents with respect to traditional equity and fixed income funds. Bitcoin spot ETFs were established in January 2024 following the approval by the SEC , leading to billions of fund inflows into these bitcoin spot ETFs. With the emergence of these funds came the emergence of risk-averse investors seeking to participate in the returns of a risky asset. Bitcoin ETF AUM (Bitcoin ETF Fund Flows) In addition to this, with the mass adoption of bitcoin ETFs, liquidity was fundamentally baked into the ETFs, providing investors with a highly liquid asset that can be converted into cash with minimal spread risk . I suspect that the initial price decline experienced in October 2025 led to the widespread exodus from bitcoin spot ETFs and potentially the repositioning out of less liquid funds and into funds with greater assets under management. Bitcoin ETF flows (CoinGlass) You may recall that the market exhibited euphoria in 2025 with the passage of the GENIUS Act and a number of other legislation being considered to provide safeguards for cryptocurrency as well as the establishment of the strategic bitcoin reserve . Despite the political support for cryptocurrencies, the market remains as the ultimate price-setting mechanism for the coins, determining the price of bitcoin based solely on supply and demand. Looking ahead, I believe bitcoin exposure has been in a state of normalization following said period of euphoria. While the price decline may continue in the future, or reverse, I suspect that the steps laid out above, inclusive of the liquidation of highly leveraged accounts and ETF fund outflows, are suggestive that the greater risk to price volatility has been reduced. This could eventually result in price stability, providing an ideal environment for YBTC to perform its best. Looking at the technical chart, I have reason to believe that the price decline of bitcoin is entering the final wave down in the retracement cycle when applying Elliott Wave Theory. Elliott Wave Theory is based on the Fibonacci Sequence, measuring the market through a wave pattern with 5 wave cycles up followed by 3 wave cycles down. This may mean that the final corrective wave is imminent. Elliott wave chart (TradingView) The completion of the final downcycle may result in a reversal or a continuation of the downcycle, which may be dependent on investor sentiment and potential exogenous factors that may occur in the future. Given the potential for the 3rd downcycle, I believe YBTC may face downward pressure, though it has the potential to outperform bitcoin on a total return basis. While the fund exhibits full downside exposure through the synthetic long position, YBTC will continue to earn premium from the sale of out-of-the-money call options, generating incremental value. About Roundhill Bitcoin Covered Call Strategy ETF YBTC was launched by Roundhill on January 18, 2024 on the Cboe BZX Exchange. The strategy has a gross expense ratio of 96bps, a relatively high fee when compared to peer bitcoin covered call strategies. ETF comparison table (Seeking Alpha) YBTC has roughly $171mm in net assets with an average of $4.33mm in share value changing hands on a daily basis, providing moderate liquidity for investors seeking to trade the fund. YBTC pays out weekly distributions with an annualized rate of $17.66/share over the last twelve months, yielding 76.31%. Dividend history (Seeking Alpha) When evaluating these types of funds, investors should review both total returns and price returns to fully understand the value earned from ownership. Per the fund’s most recent 19a-1 notice, 100% of the distribution was derived from return of capital. ROC provides investors with a tax-deferred benefit that lowers the cost basis of the investment. Once the cost basis reaches $0/share, excess ROC will be taxed as capital gains. The benefit of the fund’s price decline is that the future price at which the fund may be sold can potentially narrow the gap, though will also influence the actual return the investor earns from owning the fund. As part of this, investors will be faced with NAV erosion that may deteriorate the value of their investment over time. Total return (TradingView) Price return (TradingView) Risks Related to YBTC YBTC provides investors with exposure to a synthetic covered call strategy, presenting certain risks that should be considered prior to making a final investment decision. Synthetic covered call strategies may limit the full upside potential for an investor while exposing them to the full downside risk of the holdings. The strategy is dependent on market liquidity and potential volatility to earn premium on options sold; greater volatility in the underlying asset may result in higher premium earned. Tighter liquidity in the options market that the fund participates in may result in uneven options pricing. As a result of the underlying strategy, investors may be exposed to NAV erosion over the course of their holding period. Investing in YBTC is not a direct investment in bitcoin. Final Thoughts With bitcoin undergoing a potential corrective wave, YBTC may be positioned to outperform bitcoin, though may face downside exposure resulting from its long bitcoin call and short bitcoin put options positions. As a result of this, I am recommending YBTC with a Sell rating.

19 Mar 2026, 13:20

Gold Price Prediction: Fed Slashes Rate Cut Outlook and Sends Gold Crashing 10% From $5,000 — Where Is the Floor?

Gold is in freefall and the chart looks ugly fueling bearish price prediction. After consolidating near all-time highs above $5,000 for most of early 2026, the metal cracked hard. Two consecutive sessions wiped roughly 6%. The $5,000 psychological barrier broke on Wednesday. Thursday extended the drop to $4,500. The trigger was the Fed dot plot. A hold was priced in. What nobody expected was the projection for 2026 rate cuts getting trimmed from two down to one. February PPI came in at plus 0.7%, well above consensus. Markets got caught completely offside. FOMC March SEP: The Fed kept the cuts path unchanged, still showing one 25 bp cut in 2026 and another in 2027. But the new projections leaned a bit more hawkish underneath that. 2026 GDP was revised up to 2.4% from 2.3%, core PCE was raised to 2.7% from 2.5%, and the longer-run… pic.twitter.com/M3g68DGNwo — Wall St Engine (@wallstengine) March 18, 2026 Bond markets reacted immediately. 10-year Treasury yield surged to 4.2%. Dollar Index climbed toward 99.9. That combination is toxic for non-yielding assets like gold. This is not a trend reversal. It is a brutal repricing. The question is no longer how high gold goes. It is where the floor actually is. Gold Price Prediction: Can Gold Hold the $4,500 Level? The break below the 50-day moving average near $4,978 triggered a momentum cascade. Long positions liquidated into a thin order book. Volume confirmed this was a high-conviction bear move, not a shakeout. Gold is now trading near $4,500. Technically oversold but no rejection wick in sight. Bears are still in control. Source: TradingView Lose $4,500 and the next structural floor is $4,350. To even neutralize the immediate bearish thesis, bulls need to reclaim $4,978. That is a long way up from here. The geopolitical backdrop is making it worse. Oil topping $100 is the same force driving inflation higher and forcing the Fed to keep rates elevated for longer. That kills the traditional safe haven argument for gold entirely. Higher rates mean a stronger dollar and a higher opportunity cost for holding a non-yielding asset. Gold is caught in a trap of its own narrative. The very crisis driving people toward it is also the reason the Fed cannot cut rates to make it attractive again. Maxi Doge Targets Early Mover Upside as Gold Liquidity Rotates Gold is bleeding. And capital is looking for somewhere to go. When traditional safe havens crack under hawkish monetary policy, speculative volume does not sit still. It rotates fast into high-beta assets built for exactly this kind of volatile environment. Maxi Doge is catching that flow right now. The presale has raised exactly $4,689,783.01. Current price is $0.0002809. The pitch is unapologetically loud. A 240-lb canine juggernaut built around the 1000x leverage mentality. Holder-only trading competitions, dynamic APY staking, and an ethos that cuts straight to the point. Never skip leg day. Never skip a pump. Gold investors are staring at red candles and questioning the safe haven narrative. Traders chasing variance and ROI are looking at a completely different chart. Maxi Doge is positioning itself as the destination for that rotation. Visit the Official Maxi Doge Website Here The post Gold Price Prediction: Fed Slashes Rate Cut Outlook and Sends Gold Crashing 10% From $5,000 — Where Is the Floor? appeared first on Cryptonews .

19 Mar 2026, 13:16

Ripple Price Prediction: The Good and The Bad for XRP After Failed Rebound

XRP is trying to build a short-term recovery, but the broader trend still leans cautious. The recent bounce has improved momentum on both pairs, yet the price is still trading beneath major trend-defining resistance levels. In other words, sellers are no longer fully in control of the very short term, but buyers have not done enough to claim a real trend reversal either. XRP/USDT Analysis: The Daily Chart On the XRP/USDT chart, the asset has pushed back toward the mid-$1.40s after defending the $1.10 to $1.20 demand zone earlier this month. That rebound matters because it keeps XRP off the lows and lifts RSI back into a healthier range, but the price is still stuck inside the descending structure and below the first major supply band around $1.75 to $1.80. That leaves XRP in a tricky spot. The current move looks constructive, but it still resembles a relief rally inside a larger downtrend rather than a clean breakout. If buyers can force a reclaim of the $1.75 to $1.80 region, the door opens toward the much heavier $2.40 to $2.50 resistance area. But the price would also need to climb above both the 100-day and 200-day moving averages to reach this area. Until then, the bounce is not decisive. XRP/BTC 4-Hour Chart The XRP/BTC pair is telling a similar story. After repeatedly holding the 2,000 sats area, XRP has started to recover a bit and is now pressing back above that support zone. Momentum has improved, and the pair no longer looks as weak as it did during the recent dip, though it is still trading under both the 100-day and 200-day moving averages. For the BTC pair, the first task is to turn this rebound into follow-through. A push through the 2,100 to 2,200 sats area would be a good start, and lead to a breakout above both key moving averages. But the real test remains higher at 2,400 to 2,500 sats, where layered resistance and the broader downtrend line converge. If XRP gets rejected before that, the market likely falls back into the same sideways-to-bearish range. However, if it breaks through, the tone shifts from simple stabilization to genuine recovery. The post Ripple Price Prediction: The Good and The Bad for XRP After Failed Rebound appeared first on CryptoPotato .

19 Mar 2026, 13:11

Bitcoin Fell Below $70,000 Amid Rising US Inflation and Fed Pause

Bitcoin has fallen roughly 8% since the start of the week, slipping to around $69,500 after stronger-than-expected U.S. inflation data and a cautious Federal Reserve outlook rattled markets. The move highlights how sensitive crypto remains to macroeconomic signals, especially as expectations for rate cuts continue to shift. Inflation Data and Fed Outlook Weigh on Bitcoin Fresh data from the U.S. Bureau of Labor Statistics showed that February’s producer price index (PPI) rose 0.7% month over month, far above the 0.3% forecast. On a yearly basis, PPI climbed 3.4%, also exceeding expectations. The release came just hours before the Federal Open Market Committee meeting, amplifying uncertainty across markets. The Fed ultimately kept interest rates unchanged, in line with expectations. However, it also raised its inflation forecast, signaling that price pressures may remain persistent. Market Expectations Shift According to CME’s FedWatch tool, markets had already priced in a near-100% probability that rates would remain unchanged. Still, the updated inflation outlook dampened hopes for near-term monetary easing. Analysts at QCP Capital described the current week as one of the most important for central banks this year, noting that elevated oil prices and ongoing inflation pressures complicate the path toward rate cuts. For crypto markets, this shift removes a key bullish driver. Lower interest rates tend to support risk assets like Bitcoin, and fading expectations for cuts can weaken that support. Profit-Taking Adds to Downside Pressure Beyond macro factors, on-chain data suggests that selling pressure has also increased. According to CryptoQuant, more than 48,000 BTC were realized in profit as Bitcoin approached the $75,000 level. This indicates that short-term holders used the rally to exit positions. At the same time, historical patterns point to continued volatility. A market analyst known as “Sherlock” noted that Bitcoin has declined after each of the last six FOMC meetings since mid-2025, regardless of the rate decision. Key Technical Level Comes Into Focus Bitcoin is still trading above its 200-week exponential moving average, a level widely viewed as a long-term market boundary. Currently sitting near $68,350, this zone is acting as a critical support level. While Bitcoin recently reclaimed this indicator, the latest pullback raises the risk of a false breakout. If the price fails to hold above this level, downside pressure could accelerate. Bigger Picture The latest move reinforces a growing trend: markets are reacting more strongly to inflation data than to interest rate decisions themselves. For now, Bitcoin remains caught between macro headwinds and technical support, with the next move likely to depend on whether inflation pressures begin to ease, or continue to surprise.

19 Mar 2026, 13:10

Staggering $233.7M Loss: Evernorth Holdings Reveals Devastating XRP Valuation Hit in 2025

BitcoinWorld Staggering $233.7M Loss: Evernorth Holdings Reveals Devastating XRP Valuation Hit in 2025 In a significant disclosure highlighting the inherent volatility of digital asset markets, investment firm Evernorth Holdings has reported a devastating $233.7 million loss on its Ripple (XRP) holdings for the 2025 fiscal year. The firm, which maintains a strategic focus on the XRP ecosystem, revealed this substantial valuation decline in its year-end financial reporting. Consequently, this event serves as a critical case study for institutional cryptocurrency investment risk. Evernorth Holdings’ XRP Portfolio and the $233.7 Million Loss Evernorth Holdings confirmed it held 473.1 million XRP tokens as of December 31, 2025. The company acquired a significant portion of these holdings through a combination of open market purchases and direct contributions to the Ripple network’s development and liquidity. The reported $233.7 million loss stems directly from a decline in XRP’s market price throughout the assessment period. This figure represents a stark paper loss, reflecting the difference between the acquisition cost and the year-end market valuation. Market analysts immediately scrutinized the disclosure. They compared the loss to Evernorth’s overall portfolio strategy. Furthermore, the news triggered broader discussions about asset concentration risk within the crypto investment sector. The firm’s experience underscores a fundamental challenge: even dedicated, long-term holders face immense pressure from market cycles. Contextualizing the XRP Market in 2025 The loss occurred within a complex and evolving market landscape for Ripple and XRP. Several key factors typically influence XRP’s price action, providing essential context for Evernorth’s reported figures. Regulatory and Macroeconomic Pressures The digital asset sector faced continued regulatory scrutiny globally throughout 2025. Legal developments surrounding Ripple Labs’ ongoing proceedings with regulatory bodies created persistent uncertainty. Simultaneously, broader macroeconomic conditions, including interest rate policies and inflation trends, impacted investor sentiment across all risk assets, including cryptocurrencies. These combined forces often suppress prices, particularly for assets with specific regulatory overhangs. Industry observers note that institutional investors like Evernorth must navigate these dual challenges. They balance long-term belief in a technology’s utility with short-term market realities. Therefore, portfolio markdowns, while significant, sometimes reflect temporary market conditions rather than a fundamental breakdown of the underlying asset’s thesis. Analysis of Institutional Cryptocurrency Investment Strategy Evernorth Holdings’ situation provides a tangible example for examining institutional crypto investment models. Firms employing a “conviction holding” strategy, where they accumulate and hold a primary asset, accept higher volatility for potential long-term gains. This approach contrasts with more diversified, index-style crypto funds. Key characteristics of a conviction portfolio include: High concentration in a core asset (e.g., XRP). Active participation in the asset’s ecosystem. Long-term investment horizons, often spanning multiple market cycles. Acceptance of significant interim valuation fluctuations. The following table contrasts different institutional crypto investment approaches: Strategy Type Risk Profile Typical Holding Period Example Conviction Holding Very High 3-7+ years Evernorth’s XRP focus Diversified Fund Moderate-High 1-3 years Multi-asset crypto ETFs Active Trading Extreme Days-Months Quantitative hedge funds Evernorth’s reported loss, while large, fits within the expected risk parameters of its chosen strategy. However, the scale of the loss highlights the magnitude of price swings even seasoned institutions must endure. Broader Impact and Industry Implications The disclosure from Evernorth Holdings sends ripples through the financial technology and investment communities. Primarily, it acts as a real-world data point for risk committees at other institutions considering or already holding digital assets. The event emphasizes the necessity of robust risk management frameworks, including stress testing and scenario analysis for crypto holdings. Additionally, the news may influence how traditional financial analysts perceive the stability and maturity of cryptocurrency investments. Transparent reporting of such losses, however, is a sign of growing accounting maturity within the crypto-native investment sector. It moves away from an era of opacity and towards the disclosure standards expected in traditional finance. Finally, for the XRP ecosystem itself, the commitment of a major holder like Evernorth, despite a paper loss, can be interpreted as a sign of continued long-term belief. Their strategy suggests an expectation of future utility and adoption driving a price recovery, a common narrative among core ecosystem supporters. Conclusion Evernorth Holdings’ report of a $233.7 million loss on its XRP holdings in 2025 stands as a powerful reminder of the volatility inherent in cryptocurrency markets. This event provides critical insights into institutional investment strategies, risk management challenges, and the complex interplay of regulation and market sentiment. While the loss is significant, its disclosure marks a step towards greater transparency in digital asset finance. The long-term outcome for Evernorth’s concentrated XRP strategy will ultimately depend on the evolution of the Ripple ecosystem and the broader adoption of its underlying technology. FAQs Q1: What exactly did Evernorth Holdings report? Evernorth Holdings reported a non-cash, valuation loss of $233.7 million for 2025, attributed to a decline in the market price of its 473.1 million XRP holdings. Q2: Does this mean Evernorth sold its XRP? Not necessarily. The reported loss is a “paper loss” or mark-to-market loss, reflecting the lower year-end valuation compared to its book value. It does not confirm any actual sale of the assets. Q3: Why is this loss significant for the cryptocurrency industry? It provides a concrete, large-scale example of the price volatility risks institutional investors face, influencing risk assessments and investment strategies across the traditional finance sector. Q4: How does Evernorth’s strategy differ from other crypto investors? Evernorth employs a “conviction holding” strategy, concentrating heavily on XRP and participating in its ecosystem, unlike diversified funds that spread risk across multiple digital assets. Q5: Could Evernorth’s loss affect the price of XRP? While the disclosure itself is a past event, large holders maintaining or changing their positions can influence market sentiment. However, direct price impact is difficult to isolate from broader market forces. This post Staggering $233.7M Loss: Evernorth Holdings Reveals Devastating XRP Valuation Hit in 2025 first appeared on BitcoinWorld .

19 Mar 2026, 13:08

BitMine stock eyes an explosive surge as Ethereum price forms a bullish pattern

BitMine stock price remains in a deep slumber this month, continuing a trend that started in February. BMNR was trading at $21.4 on Wednesday, inside a range it has been stuck in since February 5 this year. It remains much lower than the all-time high of $161. This article explores why the stock may rebound soon. BitMine stock price chart analysis points to a rebound The daily chart shows that the BMNR share price has remained in a tight range in the past two months. It is slightly above the important support level at $18.27, a level it has failed to move below since February. Most importantly, the stock has formed a falling wedge pattern, which is characterised by two descending and converging trendlines. This pattern often leads to a strong bullish breakout, which is normally confirmed when it moves above the upper side. BitMine has remained above the upper side of the wedge pattern and is now attempting to move above the 50-day Exponential Moving Average (EMA). The two lines of the Percentage Price Oscillator (PPO) have formed a bullish crossover pattern and are about to cross the zero line. Also, the Relative Strength Index (RSI) indicator has jumped above the oversold level of 24.50 in February to the current 50. There are also signs that the stock is now in the accumulation phase of the Wyckoff Theory. This phase is normally followed by the markup phase, which is characterised by more demand. Therefore, the stock will likely have a strong bullish breakout in the coming weeks, potentially to the important resistance level at $30. More gains may see it keep rising to the psychological level at $50, which is about 135% above the current level. BMNR stock price chart | Source: TradingView Ethereum price recovery is possible The main catalyst for the BMNR stock price is Ethereum, which is showing signs of recovery. This is important as the company has become a big Ethereum holder. It has added over 224k ETH coins in the last 30 days and now holds over 4.595 million coins worth over $10 billion. It recently bought coins directly from Ethereum Foundation in an over-the-counter (OTC) transaction. The company’s holdings are now equivalent to 3.8% of the total supply, a big achievement since it started accumulation mid-last year. This accumulation will continue as the company aims to get to 5% ownership. There are signs that the Ethereum price will rebound as it has formed an inverted head-and-shoulders pattern, a common bullish reversal sign in technical analysis. It is now in the right shoulder section, meaning that a rebound is possible. The Relative Strength Index (RSI) has moved from the oversold level of 30 to the current 37, while the two lines of the Percentage Price Oscillator (PPO) are narrowing. Therefore, the coin may rebound in the coming weeks, potentially to the key resistance level at $3,000, which is along the 50% Fibonacci Retracement level. This price is about 35% above the current level. On the flip side, a drop below the right shoulder section at $1,755 will invalidate the bullish outlook. An Ethereum rebound will be highly bullish for BitMine because of its large holdings. ETH price chart | Source: TradingView BitMine may also benefit from the other parts of its business. It also holds over 100 BTC, meaning that it will benefit if Bitcoin rebounds. Also, the company has made a large investment in Beast Industries, which may be much bigger in the future. The post BitMine stock eyes an explosive surge as Ethereum price forms a bullish pattern appeared first on Invezz