Over the past week, the cryptocurrency market has been relatively weak with increased volatility. On one hand, the regulatory environment has released positive signals, with the U.S. SEC withdrawing its lawsuit against Ripple and Trump reaffirming his commitment to building a "crypto capital", which boosted short-term market sentiment. Meanwhile, macroeconomic uncertainty still overshadows the overall trend, with U.S. CPI data and the Federal Reserve's interest rate policy becoming the market's focus.
Bitcoin price was stimulated by positive news and briefly rebounded to $86,000, but subsequently fell back to around $84,000, dropping over 20% compared to the early year high. From the SEC's withdrawal of the lawsuit, Trump's supportive statements, to ETF fund outflows and emerging technical pressures, the overall market has entered an uncertain stage where policy and capital direction remain unclear. Investors are facing dual signals of "regulatory easing" and "capital market wait-and-see", leaving the market lacking a clear short-term direction.
[Rest of the translation continues in the same professional manner, maintaining the specified cryptocurrency term translations]From a technical analysis perspective, the technical pattern shows a range consolidation, and if it fails to effectively break through the $86,000 resistance level, short-term momentum remains insufficient. On-chain data shows that as of the third week of March, long-term holders (LTH) still account for 70% of the holdings, indicating market confidence in the medium to long-term trend. The increased activity of short-term holders and funds moving out of exchanges also reflect that some funds are choosing to wait and observe or shift to cold wallet allocation. The ETH price remains relatively stable, currently holding above the $1,900 mark, with on-chain applications still active, making it one of the more favored targets amid market volatility. Overall, the recent cryptocurrency market is in a transitional period intertwined with positive regulatory signals and macroeconomic uncertainties. In the short term, the market remains highly sensitive to inflation and Fed policies, with fund flows and technical indicators showing that most investors are adopting a wait-and-see attitude. If policy and funding aspects show a clear turn, it may become an opportunity to launch the next phase of market movement. Due to increased price volatility, investors are advised to approach conservatively and choose entry points carefully. About BingX BingX, established in 2018, is a leading global cryptocurrency exchange providing diverse products and services including spot, derivatives, copy trading, and asset management to over 10 million global users. Responding to market needs, it regularly provides analysis of mainstream cryptocurrencies like Bitcoin historical prices and ETH historical prices, catering to different levels of users from beginners to professionals. BingX is committed to providing a trustworthy platform, empowering users with innovative tools and features to enhance their trading capabilities. In 2024, BingX proudly became the main partner of Chelsea Football Club, marking its impressive debut in the sports world. Disclaimer: This article represents only BingX's perspective and provides market information. All content and views are for reference only and do not constitute investment advice. Investors should make their own decisions and trades. The author and BingX will not be responsible for any direct or indirect losses resulting from investor trading. Risk Warning Cryptocurrency investment carries high risk, and prices may fluctuate dramatically. You may lose all your principal. Please carefully assess the risks.
