Yesterday, BTC/ETH experienced a pullback. Although the amplitude was not too large, altcoins experienced a large drop of more than 30%. Investors who chased high prices suffered heavy losses. Bull markets are often accompanied by sharp rises and falls, which is normal. Although there are panic voices in the market, Ahan believes that this is the state that a bull market should present. The current stage can be called the shock period, and the fluctuations during this period are very violent. The most panicking are those who do not hold positions.

Today’s analysis:

Bitcoin: From the daily level, BTC has hit the bottom three times, and the Bitcoin dealers in this round like to use three times to make a market. Today we focus on the support of 64500. If the support is stable, the market may break through 73000 in the future.

Auntie: Auntie stopped falling near 3100, which can be regarded as the second bottoming out. It is expected that the K-line will be repaired over the weekend, and there will not be too much fluctuation. Pay attention to the 3100 support level in the near future.

The U.S. stock market experienced its worst day since January. On that day, all three major stock indexes fell by more than 1%, with the Dow Jones Industrial Average falling 1.24%, the Nasdaq Composite Index falling 1.6%, and the S&P 500 falling 1.45%. In the cryptocurrency market, Coinbase's COIN fell 6.21% to $246.68, and MicroStrategy's MSTR fell 4.86% to $1,476.

Bitcoin rose to $71,000 during early trading on Friday, but quickly plummeted to below $66,000 after midday, with a minimum retracement to $65,230, a fluctuation of more than 8%. As of press time, Bitcoin has rebounded to above $67,000, narrowing its 24-hour decline to 5%.

Ethereum (ETH), the second-largest cryptocurrency by market value, fell 12% in a short period of time to $3,100, and then rebounded slightly to above $3,200, narrowing the decline to 8%.

The altcoin market suffered a severe decline, including Cardano's ADA, Avalanche's AVAX, Bitcoin Cash (BCH), filecoin (FIL) and aptos (APT), all of which plunged by 15-20%. The total market value of cryptocurrencies shrank to $2.42 trillion, a 24-hour drop of more than 7%.

The market shock triggered the largest leveraged margin call in a month.

According to data from cryptocurrency liquidation tracker CoinGlass, during the closing hours of the U.S. stock market, about 277,000 cryptocurrency traders were liquidated, with a total loss of nearly $1 billion. The amount of liquidation in 24 hours was as high as $878 million, of which long positions lost $785 million and short positions lost $93.41 million.

Currently, the overall market capitalization of cryptocurrencies has reached $2.43 trillion, a 24-hour decline of 7.3%, while Bitcoin's market capitalization dominance is 54.3%.

U.S. Treasuries and the dollar index (DXY) surged as traders rushed to hedge. Gold, long seen as a safe haven, surged above $2,400 to a record high before giving back gains, while oil rose 1%.

Jose Torres, senior economist at Interactive Brokers, told Bloomberg that the latest situation shows that investor sentiment and high-risk assets are vulnerable to geopolitical conflicts, continued inflation and oil prices. He pointed out: "Investors have postponed their expectations for the start of the Fed's easing cycle, and geopolitics may replace the Fed as one of the biggest factors affecting market volatility."

Ahan has been reminding his friends recently that there will be a decline before the halving. Recently, the first wave of correction has begun. It is a normal adjustment and there is no need to panic. The price of BTC has fallen to $66,000. The capital exchange within the market has not been completed and the time cycle is not sufficient. Although the wash of altcoins has had a certain impact on the market, the impact has not reached expectations. The challenge of altcoins is not enough to shake the market structure, and the market is still dominated by Bitcoin.

Bitcoin options market turbulent! Implied volatility soars, market confidence shaken! Future price changes shrouded in mystery!

Bitcoin options saw a sharp rise in implied volatility, reversing a downward trend from the previous week. Rising prices typically mean that market participants lack confidence in the direction of prices. Rising implied volatility means that traders are generally willing to pay more to protect existing positions or speculate on future price movements (either up or down).

The most significant increase in implied volatility was seen for contracts expiring in the next two weeks, rising from 59% to 71% in just two days, indicating that market expectations for near-term volatility are rising.

Crypto market outlook uncertain? Experts reveal trader mentality and market trends

McCarthy said: "Traders may be more pessimistic due to uncertainty, which is reflected in their willingness to pay high prices for options to avoid price volatility risks."

The US tax season is approaching. What challenges do digital assets face?

Digital asset investment firm Ryze Labs (formerly Sino Global Capital) noted in comments on Friday that the cryptocurrency market could see a short-term downturn as the U.S. tax season approaches.

Kaiko Report: An overview of the impact of digital asset halving, and how the market outlook may change?

Kaiko's report shows that historical halving events have mixed effects on the market, but the long-term trend is optimistic. Data shows that in the past three halvings, prices have shown an upward trend after one month and three months. However, Kaiko also emphasized that the sample size is limited and needs to be analyzed in conjunction with other industry events.

Glassnode: Based on history, BTC may still experience a larger correction

Exploring the Bitcoin Price Discovery Journey: History vs. Reality

Compared with historical cycles, the current market is still in a relatively early stage of price discovery. Past data shows that during the mania stage, Bitcoin prices have experienced retracements of more than 10% many times, with most of the retracements being more significant, even exceeding 25%. However, during the current cycle, the market has only experienced two corrections of approximately 10%+ since Bitcoin broke out to new all-time highs.

Akan today's spot password:

Recommendation B: ETHFI

Recommended reason: Ahan recommends considering a long order. Enter the market when the price reaches 4.2, set a stop loss of 4 and a take profit of 5.

The market may see a sharp rebound over the weekend, so don’t rush to sell your stocks!