After Bitcoin reached 74 thousand dollars, those who turned the peak into a short selling opportunity were right. At the time of writing, BTC has fallen to $68,490 and we are not entering the weekend in a good mood. While the Ethereum report prepared by Culper Research negatively affected the ETH price outlook, BlackRock started payment restrictions. What’s going on?
Culper Research: Ethereum and its Future
Contrary to what we are used to, analysts published a bearish report for Ethereum. Reminding that the Fusaka update increased the block space and the fees decreased by approximately 90%, Culper Research analysts say that this will negatively affect the staking economy.
Although network efficiency and capacity are increasing rapidly, revenues are experiencing the opposite. Unless we quickly see an RWA explosion on the Ethereum network or other developments that will skyrocket on-chain activity of Ethereum development ETH will have adverse consequences for the price.
Analysts at Culper Research continue to criticize BitMine, arguing that the increase in transaction activity and the bullish trend of active addresses are being driven by spam and poisoning attacks, not true adoption. While Bitmine begins to represent a significant portion of the total ETH staking market, disruption of its staking structure due to revenue decline could trigger a strong downward spiral with BMNR losses.
BlackRock Payment Restriction
There is a serious “liquidity test” going on in the private loan market these days. The large-scale withdrawal demands faced by BlackRock, Blackstone and Blue Owl, the industry giants, as of March 2026, have also found their place on today’s agenda. According to information published by Bloomberg today (March 6, 2026), BlackRock restricted investor attractions in the $ 26 billion HPS Corporate Credit Fund.
The majority of private credit funds have lent money to software and technology companies. Investors fear that these companies will be “disrupted” (rendered dysfunctional) by artificial intelligence. BlackRock’s The recent write-down of one of its loans (Infinite Commercial Holdings) to “zero” value has raised doubts about the quality of other loans in the portfolios, and all this as a whole is causing a kind of bankrun.
So why is shooting density a problem? These funds provide long-term loans of 3-7 years, but offer individual investors a “quarterly exit” opportunity. When everyone heads to the door at the same time, funds naturally have difficulty providing this cash.
Markets are in many ways not at all normal;
- Bitcoin While we continued the day with a loss of nearly 5 percent, the second biggest business revision since the pandemic occurred.
- Oil prices increased by 60% in 4 months and reached the highest level in 2 years. Moreover, Qatar’s Minister of Energy predicts that the barrel price may rise to 150 dollars within two weeks.
- Gasoline prices have increased by more than 20% since December 2025.
- US PPI inflation unexpectedly rose to its highest level since July 2025.
- The 10-year bond yield rose +20 basis points this week.
- Over $600 billion in AI investment is expected from Magnificent 7 companies in 2026.
