News

Jinse Finance reported that on March 17, CryptoQuant analyst Darkfost published an article stating that despite the ongoing escalation of the situation in Iran, bitcoin continues to show a certain degree of resilience, especially compared to the stock and commodity markets (which are gradually exhibiting a topping structure). Considering that the upcoming FOMC meeting is highly unlikely to cut interest rates, this is particularly noteworthy. Current market expectations indicate about a 99% probability that rates will not be adjusted. The market's focus will shift to forward guidance, especially whether the Federal Reserve will reintroduce the possibility of future rate hikes. In such an environment, which is generally unfavorable for risk assets, some signals for bitcoin are beginning to show improvement. From the chart, trading volume is gradually tilting towards buyers, particularly evident on a certain exchange. This change is still relatively mild at present, but compared to the market conditions in February, it is a clear improvement. —On February 16, the 30-day moving average volume delta was deeply negative: Certain exchange: -145 million USD Certain exchange: -88 million USD At that time, both retail and institutional investors were basically on the selling side. —Currently, these averages have rebounded to positive territory: About +21 million USD (certain exchange) About +14 million USD (certain exchange) This marks a positive shift in the market after prolonged selling pressure. However, this trend still needs further confirmation. Overall liquidity in the crypto market remains relatively thin. But if this change continues, it may gradually support price movements and push bitcoin to break out of its current consolidation range.

BlockBeats News, March 17, starting this Monday, the crypto market has shown an accelerated rebound, with bitcoin and ethereum both reaching their highest points since February 5. Amid unclear situation in Iran and macro liquidity uncertainties, this rebound in crypto assets is likely more of a technical rebound. BlockBeats reviews the current market as follows: This weekend, technical analysts represented by Peter Brandt and Ali Charts were the first to switch from bearish to bullish, openly advocating for crypto. Since March 10, Peter Brandt has repeatedly published charts, suggesting that bitcoin will see a short-term rise. Yesterday, Peter Brandt updated his view, stating that ethereum has formed a "small daily bottom" in its long-term historical support area, implying ethereum may surge towards $2,600. Ali Charts also issued a warning ahead of the market rebound. At 2 a.m. Monday in East Eight Zone, Ali Charts unusually stated that the probability of bitcoin rebounding is as high as 100%. Yesterday, he supplemented his view on ethereum, noting that ethereum's super trend indicator "has switched from sell to buy for the first time since last September. The last two times this signal appeared, ethereum's price rose by 52% and 174% respectively." While technical analysts are calling the shots, Saylor and Tom Lee are intensifying their accumulation. Monday's announcement shows that Strategy last week again significantly increased its holdings by 22,337 bitcoins, while Bitmine added 60,999 ETH last week, both showing clear acceleration. However, it is worth noting that Garrett Jin, the agent of the previously high-profile but failed "BTC OG insider whale," has become one of the few pessimists in the current market. He has recently expressed concerns several times that the situation in Iran could lead to a market crash. When asked about his views on the crypto market, Garrett Jin said, "I still don't have enough confidence to build positions. Now I prefer to trade other more obvious investment opportunities."

ChainCatcher news, according to Hong Kong media Hong Kong Economic Journal, Citi pointed out in its analysis report that, drawing on the experience of mainland payment institutions, the user balances in mainland payment institutions are equivalent to about 20% of China's circulating cash, about 2.5% of demand and savings deposits, and about 0.8% of total deposits. It is estimated that the market size of stablecoins in Hong Kong could reach 16 billions USD (approximately 124.8 billions HKD), with a fluctuation of 8 billions USD. If the total currency continues to grow, coupled with increased demand for Hong Kong stablecoins from overseas users or a surge in on-chain activity, this scale has further room for growth, benefiting issuers, trading platforms, and payment companies. Previous news reported that the Hong Kong Monetary Authority may announce the first batch of stablecoin issuer licenses this month.