Bitcoin : crédit immobilier enfin possible aux États-Unis.

This market review, recorded on Friday, March 27, 2026, arrives just days before the quarterly close. While speculative sentiment currently remains subdued, the session opens with two significant pieces of news regarding the cryptocurrency sector that signal a shift toward institutional maturity and creative debt management. First, Coinbase has unveiled a new service allowing users to utilize their cryptocurrency holdings—specifically Bitcoin and USDC—as collateral for real estate mortgages. Facilitated through a specialized service provider, this development marks a logical progression in the integration of digital assets into traditional finance. Second, the mining firm Marathon has made a strategic move by purchasing $1 billion in convertible notes at a 9% discount to the market price. This transaction, conducted entirely in Bitcoin rather than through cash raises or equity dilution, reduces the company’s debt by $88 million and ensures zero future dilution for shareholders. This stands in contrast to MicroStrategy’s approach, which involves more complex layers of notes and ongoing dilution processes. While effective, these strategies carry underlying risks that are becoming more apparent as market volatility increases. Turning to the broader macroeconomic landscape, the risk profile is intensifying. The VIX is currently hovering near 28, dangerously close to the "danger zone" of 36. Energy costs remain high, with US Oil at $95 and Brent flirting with $103 per barrel. More concerning is the upward pressure on Treasury yields; the 30-year bond is at 4.96%, the 20-year is at 4.99%, and the 10-year is at 4.43%. This defensive environment is weighing heavily on the S&P 500. Although it is currently defending its 50-day moving average, the weekly candles have looked increasingly bearish over the past month, with sellers regaining control during every attempted push upward. If the correction deepens, the next technical targets are the 100-week moving average at 6,100 points, followed by support at 5,690, and finally the 200-week moving average near 5,200. In Europe, the situation is similarly strained. The Euro Stoxx 50 lost its 50-day moving average last week, and France’s CAC 40 is showing even more deterioration, struggling to reclaim lost support at 7,009. Meanwhile, the US Dollar Index (DXY) remains strong at 99.3. A break above 100 could see the dollar climb toward 103 or even 110 by year-end, which typically creates headwinds for risk assets. This market "mood" aligns with historical four-year cycles, particularly as we approach the US midterm elections under the Trump administration in the autumn of 2026. Historically, midterm years are often the most difficult for market performance. Within the crypto market specifically, the total valuation sits at $2.34 trillion. Technical oscillators suggest a potential bottom could be found between $2 trillion and $2.5 trillion. For Bitcoin, this translates to a range of $60,000 to $70,000. However, if the US stock market undergoes a deeper 5% to 10% correction, Bitcoin could face further pressure. Support levels are identified in $10,000 increments: $59,000 (the 200-day moving average), then $50,000, with a worst-case scenario around $40,000. Investors are encouraged to utilize dollar-cost averaging (DCA) to manage this potential volatility without emotional trauma. Ethereum continues to struggle, failing to recapture its $2,150 pivot point, which remains a key area of interest. The equity side of the crypto industry, including mining companies and stocks like Coinbase, is behaving like "extreme nitro" versions of altcoins. While Marathon is showing resilience, other stocks like Sharplink have seen massive pullbacks after previous explosive runs. Coinbase is currently testing its 100-day moving average at approximately $173, while MicroStrategy is holding near $132. The implementation of the Clarity Act may eventually provide the regulatory ease institutional investors need to fully commit to the space, but for now, the market remains tethered to US economic shifts. In the technology sector, the software and computer industries are facing significant pressure, partly due to the disruptive influence of artificial intelligence. Microsoft has experienced a staggering 35% loss from its peak, with its RSI showing more "oversold" conditions than during the 2020 or 2022 corrections. Google is also in a correction phase, down 20%, with a potential long-term value zone identified between $140 and $165. Conversely, TotalEnergies is seeing an "anthology run" fueled by geopolitical tensions in the Middle East, specifically involving Iran and the Strait of Hormuz. Finally, global indicators from Asia, particularly Japan’s rising 30-year yields, suggest a world moving into an excessively defensive posture. With Treasury bonds offering 4% to 5% returns, the appetite for risk is low. This environment points toward a period of stagflation—characterized by slowed growth and rising inflation—which often leads to significant market crashes every 10 to 15 years. Following the shocks of 2020, 2022, and the tariffs of 2025, the market in 2026 remains precarious as it navigates these cyclical and geopolitical pressures.