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Cryptocurrency News Articles
Bitcoin (BTC) ends the week with a positive line, and has rebounded nearly 10 points from the low of $76,00
Mar 17, 2025 at 03:20 pm
Bitcoin ended last week with a positive line, and BTC has rebounded nearly 10 points from the low of $76,00.
Bitcoin (BTC) ended last week with a positive line, and BTC has rebounded nearly 10 points from the low of $76,600. At present, it is trading around the $81,000 mark, and the market is waiting to see whether Bitcoin can resume its upward trend in the short term.
Markus Thielen, founder of 10x Research, believes that it is still too early to close long positions or open short positions. He recommends closing short positions at the current stage, and it is very likely that Bitcoin will consolidate for another 8 months.
In the ETF market, the lack of motivation to "buy on dips" is evident. Most ETF fund inflows come from arbitrage-driven hedge funds, and the continued low funding rate also suppresses the willingness to further deploy capital.
Bitfinex analysts suggest that the current adjustment is a normal "washout" behavior, which may need to find a bottom in sync with the stock market (especially the S&P 500 index).
He pointed out that $72,000 to $73,000 constitutes a key support range, but Bitcoin's next move will be mainly dominated by macro factors such as global Treasury yields and stock market trends. Although the impact of the trade war has been digested by the market to a certain extent, continued economic pressure may further dampen market sentiment.
It is worth noting that based on historical seasonal patterns, network economist Timothy Peterson predicts that Bitcoin is expected to hit a new high before June, with a median target price of $126,000.
However, economist Peter Schiff holds a pessimistic view. A 12% drop in the Nasdaq index could indicate a bigger drop for Bitcoin.
Schiff analyzed that if the Nasdaq enters a bear market and falls 40%, the price of Bitcoin could fall to $20,000. In contrast, gold has a negative correlation with the Nasdaq and has risen 13% since December 16, 2023.
In terms of market dynamics, the latest poll by Data For Progress shows that 51% of American voters oppose the government's inclusion of cryptocurrencies in its strategic reserves.
At the same time, the number of bitcoins held by the hacker group Lazarus Group has reached 13,562, making North Korea the world's third largest bitcoin-holding state entity.
On the other hand, Binance founder Zhao Changpeng spent BNB to buy TST and mubarak over the weekend, which may lead to a recovery in the BNB chain market. GMGN data shows that in the past 24 hours, 7 Meme coin projects have a market value of more than $1 million, among which mubarak has a market value of nearly $150 million.
From March 17 to 23, major central banks around the world will usher in a highly anticipated "super week", with a number of central banks including the Federal Reserve, the Bank of Japan, and the Bank of England holding monetary policy meetings. The market generally expects central banks to keep interest rates unchanged, but investors need to pay close attention to the central bank's judgment on the economic outlook. Especially against the backdrop of uncertainty in Trump's trade policy, the central bank's attitude may have an important impact on market sentiment.
Key data (as of 13:30 HKT on March 17)
Bitcoin: $83,149.42 (-11.15% year-to-date), daily spot volume $24.523 billion
Ethereum: $1,895.97 (-43.22% year-to-date), with a daily spot volume of $10.533 billion
Fear of corruption index: 32 (fear)
Average GAS: BTC 2 sat/vB, ETH 0.48 Gwei
Market share: BTC 60.77%, ETH 8.4%
Upbit 24-hour trading volume ranking: XRP, AUCTION, BTC, STMX, VANA
24-hour BTC long-short ratio: 0.998
Sector ups and downs: Crypto market sectors generally fell, CeFi sector rose 2.71%, RWA sector rose 0.72%
24-hour liquidation data: A total of 94,553 people were liquidated worldwide, with a total liquidation amount of US$257 million, including BTC liquidation of US$95.26 million and ETH liquidation of US$44.77 million.
ETF flows (as of March 14 EST)
Bitcoin ETF: -$68.41 million
Ethereum ETF: -$35.3 million
4. Important Dates (Hong Kong Time)
Disclaimer:info@kdj.com
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- GameStop’s Bitcoin buying announcement has affected its stock price significantly
- Mar 29, 2025 at 09:10 pm
- This Bitcoin treasury announcement resulted in a significant uptrend for the token, which rose to a high of $29.39. However, GameStop's plan to raise $1.3 billion to buy Bitcoin affected investors' sentiments significantly.
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- The recent XRP price glitch on live American TV has created ripples in the crypto community.
- Mar 29, 2025 at 09:05 pm
- In an episode of “American Sunrise Early Edition” on Real America's Voice, the value of XRP soared to a staggering $21,355, marking a 961,936% uptick from its actual price at the moment.
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