1. Market Observation
Keywords: FOMC, ETH, BTC
The ETH/BTC ratio has dropped to its lowest level since mid-2020, and economist and Altcoin trader Alex Kruger suggests: "If you still hold ETH, now may be a good time to shift to higher beta Altcoins. Even if the market declines, the losses may be quite similar in both cases, but if the market rises, you can expect to see significantly higher returns, which can then be switched back to BTC. However, market indicators show that the current situation is still a "Bitcoin season", and Altcoin trader Hansolar even predicts that 2025 will be a "full-year Bitcoin season". The Altcoin Seasonal Index on CoinMarketCap is only 13/100, and Bitcoin's market dominance has risen to 62.15%, far higher than the 42% level when Ethereum hit a record high of $4,800 in November 2021.
Looking at the trading data, there has been a significant increase in USDT wallet activity. Vincent Liu, Chief Investment Officer of Kronos Research, analyzes that traders usually accumulate USDT during market declines to look for buying opportunities, and the current surge in USDT activity is a bullish signal, indicating the presence of large buying power off-market. With the February inflation rate falling to 2.8%, lower than expected, this may ease the pressure on Altcoin prices. Traders also need to pay attention to the FOMC meeting to be held on March 18, which may point the market in a new trading direction.
It is worth noting that Qiao Wang, the founder of Alliance DAO, points out that Ethereum has reached a similar oversold level as after the Terra collapse in 2021, the deep bear market in 2018, and the DAO hacking incident in 2016, which may present trading opportunities at this price level. In contrast, the gaming asset market has performed impressively, with the investment return rate of CS2 items exceeding that of the S&P 500 index and major Altcoins, becoming one of the best performing trading varieties, and the total value of in-game items has exceeded $4.3 billion and continues to rise.
2. Key Data (as of 13:00 HKT on March 13)
BTC: $82,999.85 (-11.36% YTD), daily spot trading volume $37.583 billion
ETH: $1,861.07 (-44.18% YTD), daily spot trading volume $22.944 billion
Fear & Greed Index: 45 (Fear)
Average GAS: BTC 2 sat/vB, ETH 0.60 Gwei
Market Share: BTC 61.3%, ETH 8.5%
Upbit 24-Hour Trading Volume Ranking: XRP, BTC, ETH
24-Hour BTC Long/Short Ratio: 0.9242
Sector Performance: MEME sector up 4%, Layer2 sector up 3.7%
24-Hour Liquidation Data: A total of 89,371 people were liquidated globally, with a total liquidation amount of $256 million, of which $102 million was BTC and $61.1789 million was ETH
3. ETF Flows (as of March 12 EST)
BTC ETF: $13.33 million
ETH ETF: -$10.30 million
4. Important Dates (Hong Kong Time)
US President Trump meets with US tech leaders, including the CEOs of HP, Intel, IBM, and Qualcomm. (2:00 AM on March 11)
US President Trump signs an executive order. US February Unadjusted CPI YoY (8:30 PM on March 12)
Actual: 2.8% / Previous: 3% / Expected: 2.9%
US February Seasonally Adjusted CPI MoM (8:30 PM on March 12)
Actual: 0.2% / Previous: 0.50% / Expected: 0.30%
US Initial Jobless Claims for the Week Ending March 8 (Thousands) (8:30 PM on March 13)
Actual: N/A / Previous: 22.1 / Expected: N/A
5. Hot News
Ripple Obtains Dubai License, Will Provide Altcoin Payment Services in the UAE
China Banknote Printing and Minting Group: Never Issued Virtual Currencies Through Any Channels
OKX to Delist XR, GOAL, KP3R, LBR, LAMB, BZZ, GPT and Other Spot Trading Pairs
US Stocks Close: Nasdaq Rises 1.2%, Tesla Jumps Over 7%
Coinbase to List Maple Finance (SYRUP)
Coinbase to List Aethir (ATH), Trading Pairs to Open on March 14
Venice Airdrop Ends, 100 Million Unclaimed VVV Tokens Burned
North Korean Hacker Group Lazarus Plants Malware to Steal Altcoins in New JavaScript Package Batch
Bezos-Backed Bank Startup Stark Bank SA Targets Brazil's Altcoin Business
Binance Announces $2 Billion Investment from Abu Dhabi's MGX
Bolivia's State-Owned Energy Company YBFB to Use Altcoins to Pay for Energy Imports
CBOE Files 19b-4 Application with SEC for Franklin Solana ETF
Video Sharing Platform Rumble Spends $17.1 Million to Purchase 188 BTC
Traders Still Expect the Fed to Resume Rate Cuts in June
US February CPI Data Broadly Misses Expectations
Market News: Bank of Russia to Allow Investors to Limitedly Purchase Altcoins
Binance Alpha Launches New Review Mechanism, Deletes Multiple Tokens That Don't Meet Standards
Analysis: Bitcoin Forms Bullish RSI Divergence Just Before US CPI Release
South Korea Plans to Lift Ban on Institutional Investment in Altcoins in Q3
Over 136.7 Million USDT Transferred from Unknown Wallet to Binance
