News

According to Lookonchain monitoring, ShapeShift founder Erik Voorhees has created 28 new wallets since January 31, spending $23.76 million through the Cow Protocol to purchase 2,834 XAUT ($13.78 million) and 2,019 PAXG ($9.97 million), with an average price of $4,896. Currently, he has made a profit of $513,000.

The military conflict between the US, Israel, and Iran has lasted for two weeks, and its impact has already spread to the daily lives of citizens in Europe and America. European Commission President Ursula von der Leyen recently stated that in the first ten days after the outbreak of the conflict, European taxpayers spent an additional 3 billion euros on energy imports. Faced with soaring oil prices, many countries in Europe and America have launched various response measures. The UK, Germany, Austria, and other International Energy Agency (IEA) member states have all expressed their willingness to cooperate with the IEA in releasing 400 million barrels of strategic oil reserves. On the 12th, the US Treasury announced a temporary relaxation of some sanctions on Russian oil, allowing transactions such as the sale, delivery, and unloading of 124 million barrels of Russian crude oil or petroleum products that have already been shipped. Meanwhile, several oil-producing countries in the Middle East have recently taken action to replace the closed Hormuz logistics channel. Saudi Arabia announced the launch of the "Integrated Logistics Corridor" plan this week, while the UAE is diverting goods to Fujairah Port and Khor Fakkan Port along the coast of the Gulf of Oman. Dubai Ports World also allows goods to be transported via bonded highways to Jebel Ali Port for final customs clearance. However, the transport capacity provided by these emergency measures is still far from compensating for the huge losses caused by the closure of the Strait of Hormuz. (CCTV)

BlockBeats News, March 15th, Bloomberg published an analysis article yesterday stating that Bitcoin has approached the historical bear market bottom range, with the $45,000 to $55,000 range possibly being the ultimate bottom. The article referenced analysis from Brett Munster, crypto fund manager at Blockforce Capital, who mentioned that Bitcoin currently offers a greater upside asymmetrical opportunity than downside, implying that investors attempting to "precisely time the final percentage points of the decline" may miss out on a broader trend. The analysis pointed out that long-term indicators such as MVRV Z-Score, Realized Price, and the 200-week moving average have all indicated that Bitcoin has already reached a historically undervalued range. The article also noted that as liquidity and market maturity increase, the historical bear market's maximum drawdown has shown a shrinking trend.