Bitcoin continued moving in its recent range this week, falling from about \$57k to \$50k and, as of the time of writing, recovering back slowly to \\$57k. There’s not been any especially big crypto-wide news this week – things like Elon Musk’s announcement about Teslas being purchasable with BTC represent the most impactful events, and none of them has seemed to fuel any lasting effects.

Quarterlies expiration proved impactful – many altcoins which had large open interest across various platforms saw predictable price action during the March futures expiration, leading to market-wide rallies during that day (and also some pre-positioning rallies, likely). This happened because large players bought significant amounts of these futures when they got cheap (e.g. see the XRP and ADA quarterlies on BitMEX, which got to double digit discounts in January) and then needed to hedge as their positions rolled off. Options expirations had similar impacts.

As the end of Q1 approaches, various altcoins are set to either meet or not meet their promised goals for the quarter, which can have price impact. We’ve seen a few coins rally after updating their communities about this, and it seems reasonable to expect volatility in any coins which have deadlines that are approaching in the coming days.