Crypto market dynamics this week
BTC ETF received $196 million in a single week, achieving two consecutive weeks of net inflow. Despite the return of ETF funds, the market is still in a state of fear. Last week, the price of BTC has been in a narrow range of $81,000-86,000. The price of BTC may continue to fluctuate for some time to come. It is worth noting that the AHR999 index has been around 0.8, indicating that the price of BTC is still suitable for long-termists to invest.
ETH ETF had a net outflow of $8.7 million, with net outflows for six consecutive weeks; ETH fell for six consecutive days in the past week, and the ETH/BTC exchange rate fell to around 0.22, a new low in nearly four years; ETH market share fell to 8.2%, also a four-year low, and ETHD fell by more than 80% from its high in 2021. In the current price range, there are many ETH whales holding tens of thousands of ETH on the chain facing liquidation. The fundamentals of the Ethereum project cannot make a big change in the short term, and market confidence has fallen to the freezing point.
This week's popular coins
In terms of popular currencies, TREEINCAT, MAVIA, LAYER, SAFE, and FORM all performed well. MAVIA's price rose 88.28% this week, with the highest price reaching $3.5618. LAYER's price rose 36.12%, and FORM's price rose 23.62%, with a current market value of $900 million.
US market and hot news
U.S. stocks closed lower last Friday; benchmark U.S. Treasury yields fell; gold futures hit a new high due to inflation stickiness; crude oil futures rose for the third consecutive week. U.S. President Trump said that reciprocal tariffs will be implemented on April 2, which may become a watershed for global assets;
The U.S. unemployment rate and seasonally adjusted non-farm payrolls data for March will be released at 20:30 on the evening of April 4th, Beijing time; Federal Reserve Chairman Powell will deliver a speech at 23:25 that evening;
Popular sections and projects unlocked
Sui Network (SUI) will unlock approximately 64.19 million tokens at 8:00 a.m. Beijing time on April 1, accounting for 2.03% of the current circulation, with a value of approximately US$152 million;
Wormhole (W) will unlock approximately 1.39 billion tokens at 7:30 pm Beijing time on April 3, accounting for 47.4% of the current circulation and worth approximately US$117 million;
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The value of digital currencies may go up or down, and there may be significant risks in buying, selling, holding or trading digital currencies. You should carefully consider whether trading or holding digital currencies is suitable for you based on your personal investment objectives, financial situation and risk tolerance. BitMart does not provide any investment, legal or tax advice.
