News

On April 3, CryptoQuant analyst Axel Adler Jr stated that the Bitcoin Position Index 30-day Simple Moving Average (SMA-30d) has continued to decline after reaching a local high of +3.0 on March 17, dropping to -3.1 today, reflecting the accumulation of short positions. During the same period, the price of Bitcoin fell from $74,883 to $66,603, indicating a weakening market structure. The Liquidation Oscillator rebounded to 18.6% in mid-March, showing that long positions have been continuously liquidated. If the 30DMA does not reverse downward, pressure on longs will persist, and the risk of the price falling below $66,000 will intensify. It is currently advised to avoid risk.

Golden Ten Data reported on April 3 that despite economic pressure from the Middle East conflict, Turkey’s annual inflation in March slowed more than economists had expected. According to data released by the national statistics office on Friday, Turkey’s annual price increase in March was 30.9%, down from 31.5% in February and lower than the median forecast of 31.4% given by 20 analysts surveyed. Turkish assets reacted steadily. The Istanbul Banks Index retreated 0.1% after rising, the 10-year government bond yield fell by 14 basis points, and the lira weakened by 0.3% against the US dollar. In response to the emerging-market sell-off triggered by the conflict, the central bank governor, Fatih Karahan, said earlier this week that tight policy would be maintained to curb inflation. Last month, monetary policy makers ensured the lira only depreciated by 1.2%—outperforming the South African rand and the Chilean peso—through gold sales or swaps and foreign exchange intervention by state-owned banks.

BlockBeats News, April 3rd: The "Qingming Festival" coincided with the Western "Easter" holiday, causing many financial markets to enter holiday mode. On April 3rd, stock markets in Europe, the US, Taiwan, Australia, and other places were closed for the day; the Chicago Mercantile Exchange (CME) suspended trading of precious metals and WTI crude oil futures for the entire day, while forex, US stock, and US Treasury futures closed early; the Intercontinental Exchange (ICE) suspended trading of Brent crude oil futures for the day; the Shanghai Gold Exchange, Shanghai Futures Exchange, Zhengzhou Commodity Exchange, and Dalian Commodity Exchange did not conduct night trading. The US March non-farm payroll report will be released tonight at 20:30. The market expects an increase of 60,000 jobs, breaking free from the previous "negative growth" trend. US stocks and international gold, silver, and oil are not trading today, but given the data's significance to the Federal Reserve's interest rate path, it may trigger a market surge next Monday. Please pay attention to related risks. (FX Street)