According to Odaily Planet Daily, crypto fund management company EMC Labs released a March report. The report shows that investors began to sell off on a large scale from February 26. From February 26 to March 12, the price of BTC rose from US$51,730.96 to US$71,475.93. From March 13 to March 31, the price of BTC fell from US$73,709.99 to a maximum of US$60,771.74. From February 26 to March 31, sellers locked in a cumulative profit of nearly US$63.1 billion. At the end of March, the scale of selling had dropped significantly, but it was still as high as US$1 billion. EMC Labs believes that the first wave of big selling in the bull market is coming to an end, which will help the price increase in the next stage.
In March, the stablecoin channel had a total inflow of $8.9 billion, setting a monthly inflow record since this cycle. This inflow was the basic support for the BTC price to set a historical record in March, and was also one of the undertakers of the big sell-off in March. Analysis of BTC ETF data shows that BTC ETF did not experience large-scale outflows during this round of big sell-off adjustments, and only recorded a small outflow from March 18 to March 22. Funds are still flowing into the stablecoin channel and BTC ETF channel, which is one of the important supports for the subsequent recovery of BTC prices and the creation of new highs.
