10x Research analysis indicates that Bitcoin has broken below $69,000, marking a shift in market structure. Traders have significantly adjusted their positions, with increased futures liquidations and negative funding rates. Options capital flows are shifting toward downside protection, signaling hedging demand against downside risks. Meanwhile, market pricing of rate hike expectations diverges from the Federal Reserve's rate cut guidance, which could impact risk asset performance.

According to Coinglass data, if Bitcoin price breaks through $73,000, it will trigger $834 million in short liquidations; if it falls below $69,000, it will trigger $940 million in long liquidations. This demonstrates the potential impact of market liquidity fluctuations.

On March 20, the Federal Reserve maintained interest rates unchanged, and Bitcoin price quickly fell back to around $70,000, with a decline close to 5%. Market risk appetite cooled, and Ethereum, Dogecoin, and others also came under pressure, showing the impact of macroeconomic factors on the crypto market. Analysts pointed out that Bitcoin trading will rely on selective fund flows, and high interest rates and geopolitical risks may cause it to maintain a volatile and weak pattern in the short term.

Gate News report: On March 18, the Federal Reserve's FOMC released a statement on March 19, with three changes compared to the January statement: First, adjustment to unemployment rate language, changing "unemployment rate has shown some signs of stabilization" to "unemployment rate has changed little in recent months"; Second, addition of Middle East situation-related statement, noting that "the impact of Middle East developments on the US economy remains uncertain"; Third, shift in stance by Federal Reserve Governor Waller, who previously supported a rate cut of 25 basis points at the last meeting, but now supports keeping rates unchanged.

Bitcoin Layer 2 network Stacks implemented SIP-034 upgrade on March 17, enhancing network processing capacity for certain DeFi applications by 30 times. Through optimizing transaction processing limits, this upgrade has a significant impact on complex DeFi applications and is expected to indirectly increase transactions and fees.

On March 16, the crypto market continued to rally, with Bitcoin breaking through $74,000, up 2.9% in 24 hours. Ethereum and Solana showed larger gains, indicating capital flowing into higher-risk crypto assets. The improving macroeconomic environment provided support for the market, with falling oil prices and a weaker dollar facilitating liquidity release. The market is watching the upcoming Federal Reserve meeting, which could impact future interest rate expectations.

Odaily Planet Daily News: Hong Kong Financial Secretary Chen Maobo stated during a program today that Hong Kong's economic growth last year was 3.2%. Regarding the development of virtual currencies and artificial intelligence, Chen Maobo pointed out that virtual currency is part of financial innovation, and Hong Kong should embrace it. However, the confidentiality of blockchain technology may bring risks such as insufficient investor protection, impact on anti-money laundering, and threats to financial stability. He emphasized that the Hong Kong government must handle this carefully and incorporate it into an appropriate regulatory framework. Meanwhile, Chen Maobo expressed reservations about comprehensively promoting virtual currency investment to the public, believing that education and publicity should be strengthened. (Hong Kong Commercial Daily)

Сообщение BlockBeats, 21 ноября, по данным Bloomberg, несмотря на недавнее ускорение падения крипторынка, Том Ли в интервью по-прежнему считает, что Биткойн в конце января следующего года достигнет 150-200 тысяч долларов. Стоит отметить, что Том Ли ранее в сентябре на саммите Impact на неделе Блокчейн в Корее 2025 года сделал аналогичное предсказание, тогда он предсказал, что Биткойн к концу года достигнет 200-250 тысяч долларов, а Эфир — 10-12 тысяч долларов.