News

According to ChainCatcher, independent analyst Markus Thielen has observed that Ethereum has fallen below a critical technical support level, currently exhibiting a bear flag pattern, with its price reaching around $2004. This pattern is highly similar to its trajectory earlier this year, so caution is advised in case this pattern materializes again.

Key drivers: Global markets remain focused on the Middle East situation. The G7 has previously discussed the possibility of releasing strategic petroleum reserves but has yet to take action. On the macro front, key events this week include China's official March Manufacturing PMI and the US March Nonfarm Payrolls report. US markets will be closed on Friday for Good Friday.   March 30 (Mon) Fed Chair Jerome Powell will appear at Harvard University's "Principles of Economics" class for a discussion session, shortly after the US market open; The Dallas Fed Manufacturing Business Index for March is due at 10:30 AM ET. April 1(Wed) Tesla and other EV makers are set to report Q1 delivery figures. Tesla has already lowered its 2026 delivery guidance to 1.689 million vehicles; 2028 FOMC voter and St. Louis Fed President Alberto Musalem will deliver remarks on the US economy and monetary policy at 9:05 AM ET; Key data releases: March ADP Employment (8:15 AM ET), February Retail Sales (8:30 AM ET), March S&P Global Manufacturing PMI Final (9:45 AM ET), and March ISM Manufacturing PMI (10:00 AM ET). April 2(Thu) 2026 FOMC voter and Dallas Fed President Lorie Logan will deliver remarks at 11:00 AM ET; Initial Jobless Claims for the week ending March 28 are due at 8:30 AM ET. April 3（Fri） Key data releases: March Unemployment Rate and Nonfarm Payrolls (8:30 AM ET), March S&P Global Services PMI Final (9:45 AM ET); US and Hong Kong stock markets are closed for Good Friday. Core themes：Fed officials' speeches, ADP and Nonfarm Payrolls employment data, and Tesla's Q1 delivery numbers. The combination of labor market indicators and monetary policy signals is expected to drive heightened market volatility.

Glonghui, March 30 | Recently, the memory prices that had been rising for several months suddenly reversed course and dropped, sparking concerns in the market that the memory cycle may have peaked. According to market tracking data, several US retailers have seen wide-ranging price reductions for DDR5 memory, with individual kits dropping by as much as $100. For example, the Corsair VENGEANCE series 32GB model with a peak frequency of 6400MHz is currently priced at around $379.99, down sharply from a recent high of $490— a single kit drop of more than $110. The domestic market has also been hit, with wholesalers reporting that mainstream 16GB memory sticks have dropped “more than a hundred yuan in just one day” and early bulk buyers are frantically selling off their inventories. The chill in the spot market quickly spread to the capital market. Micron Technology’s stock price has retreated more than 24% from a recent high, and Western Digital fell nearly 21% from its peak of $777.60. Meanwhile, last week the market value of the US memory chip sector evaporated by nearly $100 billion. In the face of plunging prices and stock crashes, market participants have developed severe differences over the outlook for the memory industry. Some investors believe that the traditional “pig cycle” of memory has peaked, while HSBC argues that, the market’s concerns are overblown— we are currently in the middle phase of an AI-driven memory supercycle, with strong demand for high-end products like HBM, and memory shortages could persist for another one to two years.