From March 17 to March 19, the BTC spot price swung from $81,168.69 to $87,449.91, a 7.74% range. In the past three days, key statements from the European Central Bank (ECB) were as follows:
1) On March 17, ECB Governing Council member Villeroy stated that the euro should play a more significant role internationally. Europe needs to establish a strong savings and investment union to attract international investors to use the euro. 2) On March 18, the ECB indicated that the rapid recovery of the eurozone housing market has raised affordability concerns. Eurozone banks must get accustomed to using the ECB’s liquidity tools. 3) On March 19, ECB’s Rehn stated that the ECB had not committed to a predetermined policy. The Governing Council aims to maintain full flexibility in each meeting, with the option to cut rates or pause in April based on data.
Through their statements over the past three days, ECB officials have signaled a move toward greater policy flexibility.
On February 22, 2025, former Vice Governor of the People’s Bank of China and President of Nankai University, Chen Yulu, delivered a keynote speech titled “The Rise and Challenges of Cryptocurrency”. Chen stated that the U.S.-led crypto asset hegemony strategy poses multiple threats to China’s financial security, including:
1) Capital outflows and exchange rate pressure.
2) Regulatory arbitrage in DeFi, leading to accumulated industrial competitive advantages.
3) Competition over fundamental technology standards and innovation resources. The U.S. leads innovation in areas like ZKP and Layer 2, while the EU leverages MiCA’s regulatory integration to create network effects in a unified market and establish technical barriers. Meanwhile, China faces pressure from the migration of blockchain innovation resources.
4) The threat of U.S. crypto asset hegemony.
Lastly, the Trump administration’s push for a Bitcoin strategic reserve plan and resistance to foreign sovereign digital currencies have further intensified the U.S.-China standoff in the digital currency sector.
According to on-chain investigator ZachXBT, while assisting in freezing Bybit hacker funds, he gained deeper insight into the severe security vulnerabilities and hacking threats in the crypto industry. He revealed that nearly 100% of the monthly trading volume and fees from several “decentralized” protocols recently came from the North Korean hacker group DPRK, yet these projects refuse to take responsibility. Additionally, centralized exchanges (CEXs) react too slowly—while hackers can launder money in minutes, some CEXs take hours to respond. ZachXBT also criticized Know Your Transaction (KYT) systems for being easily circumvented, while Know Your Customer (KYC) mechanisms, due to account leaks and insider threats, pose more of a data breach risk to regular users rather than effectively preventing illicit fund flows. He pointed out that DPRK hackers have successfully laundered $1.4 billion recently, exposing severe compliance and security loopholes in the industry. He fears that only strict government-enforced regulations can drive real improvements.
Deribit has warned of a new recruitment scam where fraudsters pose as recruiters from top firms, offering high-paying jobs to trick candidates into installing malware, stealing funds via fake “onboarding benefits”, or luring them to bogus offices with work laptops. Targeting senior employees and developers, these scams aim to access sensitive systems. Deribit urges job seekers to verify recruiters and contact HR through official channels, warning that this tactic may soon spread to other industries.
Overall market cap and volume, source: https://coinmarketcap.com/charts/
Altcoin Season Index and Bitcoin Dominance: https://coinmarketcap.com/charts/
Crypto ETFs Net Flow: https://coinmarketcap.com/charts/
CoinMarketCap 100 Index: https://coinmarketcap.com/charts/cmc100/
(Used to measure the overall performance of the top 100 cryptocurrency projects by market capitalization on CoinMarketCap)
Fear & Greed Index, source: https://coinmarketcap.com/charts/
Over the past three days, the total crypto market cap and trading volume have seen a slight rebound, with market activity also picking up. The altcoin season index indicates the start of a short-term upward cycle for altcoins.
ETF inflows have begun, helping to restore market confidence. Meanwhile, major cryptocurrencies and large-cap altcoins have started recovering in price. The current Fear & Greed Index stands at 31, suggesting a gradual move away from recent lows.
Source: CoinAnk
The 7-day cumulative funding rates for BTC and ETH on the top 8 exchanges are 0.4004% and 0.5329%, respectively, indicating a strong bullish sentiment across the market, with expectations of a continued uptrend.
Exchange BTC Contract Open Interest:
Source: CoinAnk
Exchange ETH Contract Open Interest:
Source: CoinAnk
Over the past three days, BTC contract open interest has seen a slight increase, while ETH has surged significantly. This suggests that high-risk appetite traders are more optimistic about ETH and mid-to-small-cap altcoins in this rebound.
Macroeconomy
1) On March 17, U.S. Treasury Secretary Besant stated that while a recession cannot be ruled out, the administration is implementing sustainable and stable policies. He acknowledged that U.S. sanctions are undermining the dollar’s role as a reserve currency but emphasized that there is no clear reason for a recession. Tariff rates will be determined separately for each country. 2) On March 17, a poll revealed that most U.S. voters oppose using government funds to buy and hold cryptocurrencies.
3) On March 17, the Fed Meeting Outlook indicated that Powell has limited ability to reassure markets, with the primary risk coming from the White House. 4) On March 18, Canada’s February CPI MoM was 1.1% (expected 0.6%, previous 0.1%).
5) On March 18, Fitch downgraded U.S. 2025 GDP growth forecast from 2.1% to 1.7%, expecting the Fed to delay rate cuts until Q4 2025. 6) On March 19, U.S. Treasury Secretary Besant stated that there was no reason to expect a recession, with the economy fundamentally “healthy.” Tariffs on April 2 will vary by country, with some receiving lower rates. 7) On March 19, the Eurozone’s final CPI for February increased by 0.4% month-over-month (below the expected 0.5% and matching the previous 0.5%), while the annual CPI rose by 2.3% (below the expected 2.4% and revised down from the previous 2.5%). 8) On March 19, the Bank of Japan unanimously kept the benchmark rate at 0.5%, in line with expectations. BoJ Governor Kazuo Ueda stated that future rate hikes would be data-dependent and did not rule out reassessing the 2% inflation target.
Cryptocurrency Industry Updates:
1) On March 17, crypto users reported new phishing emails impersonating Coinbase and Gemini.
2) On March 17, CZ Zhao Changpeng stated that AI agent projects should prioritize utility and scalability over early token issuance.
3) On March 17, a former PBoC deputy governor warned that the U.S.-led crypto asset dominance strategy continues to pose multiple threats to China’s financial security.
4) On March 17, Coinglass data indicated that funding rates on major CEXs and DEXs suggest the crypto market is no longer bearish.
5) On March 18, several crypto companies were reportedly applying for state or national banking licenses in the U.S.
6) On March 18, FTX creditor representative Sunil warned that scammers were impersonating FTX to send phishing emails to creditors.
7) On March 18, Microsoft discovered a new remote access trojan (RAT) targeting 20 cryptocurrency wallet extensions in Google Chrome to steal crypto assets.
8) On March 18, rumors circulated that Trump might use a U.S. sovereign fund to buy Bitcoin. The Executive Director of the President’s Working Group on Digital Assets stated that a stablecoin bill could reach Trump within two months.
9) On March 18, a Coinbase survey revealed that institutional investors remain bullish on crypto, with 83% planning to increase allocations this year.
10) On March 19, North Carolina proposed a Bitcoin Reserve Bill to allocate 10% of public funds to Bitcoin purchases.
11) On March 19, fluctuations in the Turkish lira caused a sharp increase in Binance’s BTC/TRY trading volume.
12) On March 19, Europol reported that AI and crypto technology are enhancing criminal efficiency.
13) On March 19, the founder of IOSG Ventures noted that the crypto industry is overly focused on short-term meme effects, leading top talent to shift toward AI.
14) On March 19, SlowMist reported that hackers exploited ChatGPT’s SSRF vulnerability to attack U.S. financial and government institutions.
Regulation & Crypto Policy:
1) On March 17, Pakistan established a cryptocurrency committee to regulate blockchain and digital assets.
2) On March 17, Trump appointed Bowman as the new Federal Reserve Vice Chair for Supervision.
3) On March 17, the Dubai Financial Services Authority launched a tokenization regulatory sandbox.
4) On March 18, the Governor of the Bank of France warned that the U.S. promotion of cryptocurrencies could trigger the next financial crisis.
5) On March 18, the acting SEC Chair directed staff to reassess proposed crypto custody rules, considering revoking or modifying investor asset protection proposals from Biden’s term, including those related to cryptocurrencies.
6) On March 18, the SEC’s crypto task force held its first roundtable meeting of the week.
7) On March 19, the Bank of Russia tested digital ruble smart contract functionality in Tatarstan.
8) On March 19, South Korea’s financial regulators imposed a 0.6% oversight fee on crypto exchanges.
9) On March 19, Pennsylvania approved the construction of the Nova Energy natural gas-powered cryptocurrency mining facility.
Other News:
1) On March 17, the WeChat Public Platform announced a tiered penalty system, up to account bans, for unlicensed stock recommendations and other violations.
2) On March 17, Zoom launched a full-platform Agent, accelerating the AI boom.
3) On March 18, market sources reported that the EU Council authorized €3.5 billion in aid and loans to Ukraine.
4) On March 18, Pavel Durov stated in Dubai that Telegram exceeds its legal obligations.
5) On March 19, Russian President Putin stated that 28,595 sanctions have been imposed on Russia, exceeding the total imposed on all other countries combined.
6) On March 19, the White House announced that the U.S. and Russian leaders agreed to start the Russia-Ukraine peace process with a ceasefire in energy and infrastructure, with maritime ceasefire talks beginning soon.
Source: BTCUSDT | FameEX
From March 20 to March 23, the medium-term trading strategy will still be applied: for the BTC spot, maintain the sell order at $169,400 and the buy orders at $73,970, $59,935, and $45,900, respectively.
For the ETH spot, sell orders are placed at $5,125, while dip-buy orders are set at $1,730.
U.S. inflation data for February, including CPI and PPI, came in below expectations, easing concerns about economic stagflation. However, the latest University of Michigan Consumer Sentiment Index hit its lowest level in nearly three years, reflecting extreme pessimism about the economic outlook. This week marks a “Super Central Bank Week”, with over 20 central banks set to announce their latest policy rates. The focus will be on the Federal Reserve and the Bank of Japan, with markets currently expecting both to keep rates unchanged.
Risk Reminder: The cryptocurrency market is highly volatile, and investors are advised to control their positions and implement stop-loss strategies. The above content is for reference only and does not constitute specific investment advice from this exchange.
Disclaimer: FameEX makes no representations on the accuracy or suitability of any official statements made by the exchange regarding the data in this area or any related financial advice.
