【Blockchain Briefing 0326】
1. Market trend:
1. Short-term support level 68819
2. Short-term pressure level 70941
3. Medium-term support level 67284
4. Mid-term pressure level 73135
5. On-chain data shows that the market’s pallet strength is slowly increasing, the selling pressure on#BTC#ETH has decreased, and the trend is turning for the better.
6. The sentiment of#BTC#ETH is improving. The conditions for rising above the previous high are not yet mature. The high-level washout will continue, and the possibility of a deep correction is decreasing.
7.#BTC#ETH contract open interest is about to break the previous high, while funding rates and lending rates show that bulls’ sentiment has improved.
2. Macroeconomic data:
1. U.S. dollar index: closed down 0.19% at 104.22
2. Treasury bond prices: The 10-year U.S. bond yield returned to above the 4.2% mark and closed at 4.246%. The 2-year U.S. bond yield, which is most sensitive to the Federal Reserve’s policy interest rate, closed at 4.63%.
3. Gold price: closed up 0.3% at $2,171.90 per ounce
4. WTI crude oil: WTI crude oil finally rose 1.44% to US$81.92/barrel
5. Stock market: closed down 0.41%, the S&P 500 index fell 0.31%, and the Nasdaq fell 0.27%
6. USDCNY：7.247
7. Interest rate hike expectations: According to the Federal Reserve Interest Rate Observer, the probability of maintaining interest rates at 5.25-5.50 in May is 91.4%, and the probability of cutting interest rates to 5.00-5.25 is 8.6%.
8. Cryptocurrency: The overall market value increased by 4.44% to $2.64T, the 24-hour trading volume increased by 54.99% to $111.45B, and the market value of stable coins increased by 0.63% to 146.54B.
9. ETH pledge situation: The current pledge amount is 31.36METH, and the pledge rate is 26.08%
3. Position data of 9 ETFs:
Updated March 25:#Grayscaleis down 5,507 $BTC (-$382.9M) and currently holds 350,252 $BTC ($24.35B).
9 ETFs (including#Grayscale) lost 3,562 $BTC (-$247.6 million).
4. Yesterday’s macro news:
1. Atlanta Fed President Bostic reiterated that he expects only one interest rate cut this year; "big dove" Goolsby continues to stick to his expectation of three interest rate cuts in 2024; Fed Governor Cook believes that housing inflation will continue to decline, but needs Be cautious about cutting interest rates.
2. According to foreign media, OPEC+ representatives believe that there is no need to recommend changes in oil supply policy at next week’s review meeting because the production quotas set in the first half of the year have proven to be effective.
3. Trump’s business empire has turned a corner and the bond required for the fraud case has been reduced to 1.At about the same time, his social media company, Trump Media & Technology Group, completed a 29-month merger process, which will increase Trump's net worth by more than $4 billion and will enter the ranks of the world's 500 richest people on the Bloomberg Billionaires Index for the first time with a net worth of $6.4 billion.
