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Crypto Today: NFT Sales Plunge, SEC Drama Unfolds

NFT sales dropped 63% in Q1, Crypto.com escapes SEC scrutiny, and SEC Chair nominee Paul Atkins faces tough questions.

• Main Points:

  • NFT Market Down 63%: Sales fell from $4.1B in Q1 2024 to $1.5B in Q1 2025.

  • Top Collections Resilient: Pudgy Penguins, Doodles, and Milady Maker outperformed.

  • Crypto.com Investigation Closed: SEC ends probe without action, per CEO Kris Marszalek.

  • SEC vs. Cumberland DRW: Civil enforcement case dismissed with prejudice.

  • Paul Atkins Faces Senate Scrutiny: Nominee questioned over FTX ties and potential conflicts.

• Detailed Insights:

  • Steep NFT Decline: March saw a 76% YoY drop, hitting just $373M in sales.

  • CryptoPunks & BAYC Hit Hard: Down 47% and 61%, respectively.

  • Crypto.com Vindicated: Marszalek claims regulators attempted to stifle crypto growth.

  • Atkins Under Fire: Warren presses nominee on his consulting firm’s crypto industry links.

  • Regulatory Uncertainty Grows: Senate hearing highlights ongoing friction over crypto policies.

Related: Bitcoin Exchange Supply Hits 8-Year Low — Bullish Signal?

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XRP Risks 40% Drop Amid Bearish Patterns & Trump Tariffs

XRP faces a potential 40% drop as bearish technical patterns align with macroeconomic concerns over US tariffs.

• Main Points:

  • Descending Triangle Formation: A breakdown could send XRP to $1.32 by April.

  • Peter Brandt’s Warning: The head-and-shoulders pattern suggests a possible drop to $1.07.

  • Potential Upside Reversal: A breakout above $2.55 could push XRP toward $3.35.

  • Trump Tariffs Impact: New 25% auto tariffs may fuel inflation and market caution.

  • Rate Cut Uncertainty: Fed rate cut odds for June dropped from 67.3% to 55.7%.

• Detailed Insights:

  • Bearish Structure in Play: XRP’s descending triangle suggests a downward move unless resistance at $2.55 is breached.

  • Inflation Concerns Rise: Tariffs could add 1.2% to inflation, dampening risk appetite.

  • Fed’s Cautious Stance: A delayed rate cut could reduce speculative capital inflows.

  • Market at a Crossroads: A confirmed breakdown signals further losses, while a strong rebound could revive bullish sentiment.

Related: Bitcoin Prediction Markets Cap 2025 High at $138K

Bitcoin Faces 15% Drop, Warns Trading Legend

Peter Brandt sees Bitcoin falling to the low $70Ks, citing a bearish pattern.

• Main Points:

  • Bear Flag Formation: Brandt identifies a bearish structure signaling a potential 15% drop.

  • BTC Down 4% This Week: Price fell from $89K, with more downside likely.

  • Support at $70K Range: If BTC breaks lower, other cryptos may follow.

  • Invalidation at $91K: A push above this level could shift momentum.

• Detailed Insights:

  • Market Struggles to Rally: BTC remains in a choppy phase, frustrating both bulls and bears.

  • Brandt’s 50+ Years of Experience: He views the pattern as a likely continuation of the downtrend.

  • Key Levels to Watch: Below $75K signals a deeper correction, while $91K reclaims bullish momentum.

  • Uncertain Outlook: The market remains unpredictable, but caution is advised.

Related: XRP Price Slips 3.8% — Bearish Patterns Signal Deeper Correction

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results