🚨 CRYPTO MARKET NEWS: "FEAR" LOOMS BUT BITCOIN REMAINS RESILIENT! 🚨
The cryptocurrency market has continued to decline this past week: Bitcoin ($BTC ) fell about 4.81% to around 66,000 USD, while Ethereum ($ETH ) fell about 3.37% to 2,047 USD.
😁 Bitcoin trend (Volatility is predominant)
The price of Bitcoin is currently fluctuating within a wide range from 60,000 to 70,000 USD. Although there have been initial signs of stabilization, the market still lacks the strength to create a significant breakthrough.
On-chain and off-chain data show that selling pressure from long-term holders still persists.
Currently, Bitcoin is in a redistribution phase, and the fluctuations within this range will continue to be the main feature until spot buying demand increases significantly.
😁 The macroeconomic situation and Geopolitics
The market decline is mainly influenced by geopolitical tensions (Iran war and escalated rhetoric from Trump).
However, Bitcoin is showing remarkable resilience compared to traditional markets. While Nasdaq futures and S&P 500 fell over 6% and gold dropped 14%, Bitcoin has maintained an accumulated increase of 1.4% since the end of February.
😁 The movements of ETF Funds and Whales
The risk-averse sentiment at the beginning of the quarter reversed in March, leading to a significant improvement in demand for Spot Bitcoin ETF funds.
Net capital flow into ETF funds in the past 30 days has turned positive with over 30,000 BTC
Note:
• The report is compiled from various sources
• The information above is for reference only and is not investment advice.
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