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Edition 01 · March 24, 2026
ON THE BLOCK
Smarter crypto decisions start here.
Hey, {{${first_name}}} — This week: Bitcoin’s correction in context, why our CEO just called crypto a supercycle technology, a plain-English breakdown of staking, your crypto tax cheat sheet, and the number that tells the real 2026 story so far. — Justin Jaffe, Editor
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Market Snapshot
Price & 7-day change as of March 23, 2026
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BTC
$70,600
▲ +2.6%
Bitcoin
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ETH
$2,152
▲ +3.4%
Ethereum
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SOL
$90
▲ +3.4%
Solana
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XRP
$1.44
▲ +3.6%
XRP
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DOGE
$0.11
▼ -6.1%
Dogecoin
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Prices and 7-day % change as of March 23, 2026 via CoinGecko/Yahoo Finance. [1] Crypto is highly volatile. Past price is not indicative of future results.
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This Week in Crypto
The Correction That Isn’t a Crisis
Bitcoin opened this week just above $70,600 — down approximately 16% year-to-date. If Bitcoin closes March in the red, it will mark six consecutive months of red monthly candles — matching the longest losing streak on record, last seen in the 2018–2019 bear market.[2]
This sell-off hasn’t been driven by anything broken inside crypto. The culprits are macro — U.S.–Iran military escalation spiking oil above $100/barrel, renewed tariff pressure, and a Federal Reserve holding rates steady while signaling caution.[3]
There is a silver lining. The 200-week moving average near $59,000 has historically served as the floor in every bear market. And spot Bitcoin ETF outflows have shrunk from $3.48 billion in November to just $206 million in February — a 94% drop.[2]
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“The ETF outflows are more consistent with deleveraging than institutional abandonment. For flows to reverse, markets need clearer macro direction.”
Orkun Mahir Kılıç, Co-Founder, Citrea — via BeInCrypto
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What it means for you: Macro-driven panics are different from fundamental breakdowns in crypto. Stay grounded in your time horizon, not the daily chart.[2][3][A]
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POV
Our CEO Just Called Crypto a Supercycle. Here’s What He Means.
Anthony Noto · SoFi CEO · CNBC Squawk Box, November 2025
When SoFi relaunched crypto in November 2025 — becoming the first nationally chartered U.S. bank to offer crypto directly to consumers — CEO Anthony Noto went on CNBC and made a sweeping claim: blockchain and crypto are a technology supercycle on par with AI, and will reshape the entire financial system.[4]
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“We believe blockchain and cryptocurrencies are a super cycle technology just like AI, and it will be pervasive across all the financial system.”
Anthony Noto, CEO of SoFi · CNBC Squawk Box, November 11, 2025
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Noto personally allocates 3% of his portfolio to Bitcoin — not as a currency bet, but as a technology investment, the same way early internet investors bet on the protocol rather than any single website. What it means for you: the infrastructure is being built. Weeks like this one are part of that story, not the end of it.[4][A]
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Crypto Defined
Staking
Lock up your crypto, help secure a blockchain network, earn rewards in return — think of it like a high-yield savings account, except the “bank” is the network itself. Works on Proof of Stake chains like Ethereum, Solana, and Cardano. Bitcoin cannot be staked.
→ Tax alert: Staking rewards are ordinary income the moment you receive them. Track fair market value on receipt date. Report on Schedule 1.[5] |
→ Hidden risk: “Slashing” penalties can cost you a portion of staked coins if your validator misbehaves. And your asset’s price can still drop while it’s locked. |
→ On SoFi: Staking is available for eligible assets directly in the app. Check current coins and reward rates in your account.[B] |
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Number of the Day
-16%
Bitcoin Year-to-Date Return · 2026
Bitcoin opened 2026 near $84,000–$88,000. It now sits around $70,600 — a 16% decline in under three months. For context: Bitcoin corrected more than 80% in 2018 and still went on to set new all-time highs. Year-to-date numbers matter much less than the long arc.[2][6][A]
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Crypto Toolkit
Filing Your 2025 Crypto Taxes
If you started trading crypto in the past year, you’ve just entered one of the IRS’s most scrutinized areas. Here’s what you need before the April 2026 deadline.[5]
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Every trade is a taxable event Selling, swapping one coin for another, or spending crypto on a purchase — all trigger a capital gains calculation. Simply holding is not taxable. |
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Short-term vs. long-term rates
Holding Period | Tax Rate |
1 year or less | Ordinary income (10%–37%) |
More than 1 year | Long-term cap gains (0%, 15%, or 20%) |
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New in 2025: Form 1099-DA Exchanges now report your transactions to the IRS — just like stock brokers. Expect a Form 1099-DA alongside Form 8949.[5] |
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Losses can work for you Deduct crypto losses to offset gains — and up to $3,000 of ordinary income per year if losses exceed gains. |
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Wallet-by-wallet accounting (new for 2025) The IRS now requires cost basis tracked per wallet or exchange. If you use multiple platforms, this matters. Koinly, CoinTracker, or TaxBit can automate the math.[5] |
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⚠ Staking & airdrop income
Staking rewards and airdrops are taxed as ordinary income at fair market value when received — not when you sell. Keep detailed records.[5]
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[1] Prices approximate as of March 23, 2026 via CoinGecko and Yahoo Finance. Prices are highly volatile and may have changed by the time you read this.
[2] CoinDesk, “Bitcoin clings to monthly gains, historic losing streak still in play,” March 23, 2026. BeInCrypto, March 2026.
[3] Fast Company, “Bitcoin, Ethereum, XRP price today,” March 23, 2026.
[4] CNBC Squawk Box, November 11, 2025. CoinTelegraph, November 12, 2025. SoFi Technologies press release, 2025.
[5] IRS.gov. Tax information is for general educational purposes only and does not constitute tax advice. Please consult a qualified tax professional.
[6] Fortune, “Current price of Bitcoin for March 23, 2026,” March 23, 2026.
[A] Investment Risk Disclosure: Cryptocurrency is a highly speculative investment. Its value can go up or down dramatically and investors may lose their entire investment. Cryptocurrency is not insured by the FDIC or any other government agency. Past performance is not indicative of future results. Nothing in this newsletter constitutes investment advice or a recommendation to buy, sell, or hold any cryptocurrency.
[B] Staking Disclosure: Crypto staking is available through SoFi Digital Assets, LLC. Staking is not available in all states. Rewards are not guaranteed and may vary. Staking involves risk, including possible loss of principal.
SoFi Invest refers to the three investment and trading platforms operated by Social Finance, Inc. and its affiliates. Brokerage services provided through SoFi Securities LLC, Member FINRA/SIPC. For additional disclosures visit sofi.com/legal/invest-disclosures. © {{current_year}} SoFi Technologies, Inc. All rights reserved.
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